Pi Coin is currently attracting significant attention, but the question of selling Pi remains a major concern. There are various ways to convert Pi into cash or other assets, depending on one’s choices and available conditions.
1. Sell Pi coin peer-to-peer
Peer-to-Peer Pi Coin Sale Currently, the Pi Network mainnet has not been launched, and the exact date for the mainnet release is still uncertain. This means that Pi cannot yet be traded on cryptocurrency exchanges. Although Pi IOU (IOU stands for “I owe you” in trading) has emerged, determining the real value of one Pi coin is still a big question. Will the price of Pi be just one cent, or could it rise to one dollar, or even 100 dollars? The truth is that no one can say for sure.
Given the current situation, many users on social media platforms have claimed to be ready to buy Pi at various price levels, with some even willing to trade directly. Based on the experience of many, most online ads to buy Pi coins are scams. These individuals do not intend to actually pay for the Pi coins; instead, they exploit unsuspecting individuals to steal their assets. Therefore, if you decide to trade Pi online, be extremely cautious.
While direct transactions are less convenient than online trading, they significantly reduce the risk of scams. Direct transactions are less likely to be fraudulent and safer, even though there is not much shared experience of P2P Pi coin transactions at the moment. Since Pi Network’s mainnet is still not active, most P2P exchanges do not currently support Pi coin buying and selling.
2. Trade Pi coin IOUs
Trading Pi IOUs Another method to approach the value of Pi Network is by trading Pi IOUs on exchanges that support them. IOUs are informal agreements that acknowledge a debt, which can be converted when Pi officially starts trading. However, it is important to remember that IOUs are not actual Pi coins. The value of an IOU can change at any time and does not necessarily reflect the true value when Pi coins are officially launched.
Holding IOUs until Pi coins are released may carry significant risks, as the value of IOUs can change considerably during the waiting period. Nonetheless, they still provide a useful indicator of the potential for Pi coin price appreciation in the future. Currently, Pi coin IOUs on exchanges such as Huobi and Bitmart are trading at around 63 dollars, marking an approximate 79% increase over the past three months.
3. Spend your Pi coin directly on products and services
If you own Pi in your wallet and prefer not to use traditional sales methods, an attractive option is to spend your Pi directly at retailers that support this cryptocurrency. Many businesses are now beginning to accept Pi as a payment method, including retail stores, gaming services, and even large transactions like buying and selling cars with Pi, according to the Pi Core team on X (formerly Twitter).
Recently, the Pi Network team held a special event called PiFest, encouraging users to spend their Pi at local businesses that have adopted cryptocurrency. To assist users, the team also launched an app called the Pi Map, which makes it easy to find stores and service providers that support Pi payments.
4. Wait for Pi coin to be listed on exchanges
Although this may not be the option many want to hear, the reality is that you might have to wait until the Pi Network’s mainnet officially launches. According to various sources, Pi is expected to be listed on cryptocurrency exchanges once the Pi mainnet is fully operational. At that point, Pi will be traded freely like any other cryptocurrency or token, helping you avoid concerns about risks such as scams or unfavorable transactions.
Recently, the Pi Network team has been actively attracting new developers to join the network, which is seen as a positive sign for the launch of Pi’s mainnet.
In December 2023, the Pi Network team outlined three key conditions that need to be met before Pi enters the Open Network phase. Although there is no specific launch date yet, these conditions include:
- Completing all technical, product, business, and legal preparations to ensure consistency with Pi Network’s development strategy.
- Achieving important milestones in the KYC network, including 15 million Pioneer users completing KYC and 10 million Pioneer users moving to Mainnet.
- Ensuring no external factors hinder the success of the Open Network.
As of May 2024, Pi Network announced that 11.1 million users had completed the KYC process, and 5.58 million users had moved to Mainnet. This is the latest update on the network’s development, marking an important step forward in preparations for Pi’s listing on exchanges.
Whether your choice is to spend Pi directly or wait for its exchange listing, the key is to keep an eye on updates from the Pi Network team to take advantage of the best opportunities. Be patient and get ready for the exciting future steps of Pi.
