Digital currency has revolutionized the financial world by introducing a virtual version of money that would make transactions as easy and smooth as those made with any other form of cash, and that too without the need of the physical cash.
Among the large number of cryptocurrencies today, Pi Coin has been especially unique since it allows the users to mine coins directly from their mobile devices.
Let’s together explore the Pi Coin launch date and know about its potential impact on the cryptocurrency market and the value of their mined coins.
What is Pi Coin?
Pi Coin is a cryptocurrency, introduced in March 2019 by a team of Stanford graduates, which includes Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and Vincent McPhillip. The main purpose behind the development of Pi Coin was to allow users to engage with a user-friendly cryptocurrency that can be mined through mobile devices without battery drainage or the need for deep technical knowledge.
What is Pi Coin Mainnet?
The Pi Coin mainnet (short for ‘Main Network’) is the final stage of the Pi Network development, in which the Pi Coin functions fully on its own blockchain. This shift from the testing stage to a live network has several implications:
- Transition from Test Phase to Live Environment
- Trading and Exchange Availability
- User Verification and Security
- Enhanced Features and Functionality
- Community Engagement and Growth
Current Status of Pi Coin
At this point, the Pi coin is on a testnet phase (Short for ‘test network’), where people can mine and trade coins within the app. The project has gained more than 35 million users, which makes it one of the most significant cryptocurrencies initiatives.
However, the transition of a test environment into a fully operational blockchain network-known as the mainnet launch-remains a critical milestone yet to be achieved.
Why Mainnet Launch is Important:
The launch of the mainnet is important because it will confer real-world value to Pi coins, so that users can trade and use them in many applications. Initially, the launch was planned for 2022, but the delay has forced expectations further to 2024.
Also read: Comprehensive detail about Bonk Price Prediction
Factors affecting Pi Coin Launch Date
What are the Factors affecting Pi Coin Launch Date?
Several factors would explain the uncertainty of the mainnet launch date of Pi coin:
1. KYC Verification:
One of the conditions leading to mainnet launch is accomplishing KYC verification for users. It is a key step in ensuring that users are legitimate and prevent spam in the network. At the moment, over 13 million users have already accomplished their KYC verification, while millions of more users need to be accommodated before the step can be cleared.
2. Ecosystem Development:
The Pi Network seeks to create a strong dApps ecosystem that will run on Pi coin as its medium of exchange. The developers have set a goal for 100 minimum dApps to be ready before launching the open mainnet. So far, the developments of these applications are in progress, and the success will heavily weigh on the timing of the launch.
3. Market Conditions:
The health of the broader cryptocurrency market also plays a role in determining when Pi coin will officially launch. Favorable market conditions may speed up user engagement and ecosystem development, whereas adverse market conditions may slow progress.
How to Sell Pi Coin in India?
How to Sell Pi Coin in India?
Once the Pi coin transitions into its mainnet and becomes tradable, users will most certainly be concerned with knowing how to sell their Pi coins, especially to markets like India. This usually involves:
- Complete KYC Verification: Ensure your KYC verification is complete on Pi Network since this is going to be necessary for trading your coins in your primary account.
- Select a Pair Exchange: After the launch date of the mainnet, select a popular cryptocurrency exchange where Pi coin can be listed. Such exchanges include Binance or Indian local exchanges like WazirX and CoinDCX.
- Create Account: In case you do not have an account with your preferred exchange, create one there and follow all necessary verifications in making your account valid.
- Transfer Your Coins: Once your account is established, the next step is to transfer your mined Pi coins from your Pi Network wallet into your exchange wallet.
- Sell Your Coins: After transferring your coins successfully, you can place an order to sell them at your desired price, or you can use a market order for an immediate sale.
- Withdraw funds: After selling your coins, you can withdraw your profits back into your bank account or use them for further investments.
Also read: How to Buy Solana Meme Coins
How Much Is Pi Coin Worth?
How Much Is Pi Coin Worth?
It is too early to pinpoint the value of Pi coin at the moment since it isn’t listed on public exchanges yet. Currently, its price is mostly speculative, and a result of user-mined interest within the application and not actual transactions in the market.
However, many analysts expect this coin once the mainnet is launched and trading begins. Its price would be influenced by several key points:
- Supply and Demand
- Market Sentiment
- Utility within Ecosystem
- Comparison with Other Cryptocurrencies
Conclusion
The journey toward mainnet has been more of excitement and anticipation with its rapidly increasing user base. With more than 35 million users involved in mining through their smartphones, there is massive interest in seeing how the innovative approach to cryptocurrency will behave in real applications once launched into the real world.
As we edge toward 2025, knowing how to sell Pi coin in India and estimating its potential worth is greatly significant for every user wanting to capitalize on their investment.
While uncertainties prevail with respect to specific dates and values, there’s certainly one thing clear: if it’s a success, then there would be democratization of the access to cryptocurrencies even further, opening up even more opportunities for the participation in this developing digital economy.
