Key points:
- PiCoin is a revolutionary coin that seeks to empower retail crypto investors.
- The network allows users to mine cryptocurrencies using mobile phones.
- PiCoin is still not available for trading on any leading crypto exchanges.
The Pi network is a revolutionary digital currency that allows users to mine their cryptocurrency using their mobile phones. The cryptocurrency claims to be the first to be entirely based on a mobile platform giving everyone a chance to mine cryptos.
Also read: How To Trade Bitcoin – A Beginner's Guide.
The Pi network uses the Stellar Consensus Protocol (SCP) to validate transactions on a distributed ledger. PiCoin’s mission is to make it easy for everyone to invest in and mine cryptocurrencies without many obstacles people face when mining and investing in the larger and more popular cryptos.
Why can’t you buy PiCoin now?
Unfortunately, the PiCoin is unavailable on many popular cryptocurrency exchanges since it has not been launched to the public. Therefore, you cannot buy PiCoin at the moment.
Still, you can download the network’s mobile application on both Android and Apple devices and start mining your cryptocurrencies using your phone.
The network is also highly decentralised since users can mine crypto using their mobile phones. Luckily, those who download the Picoin app and start mining the coin can sell all their crypto holdings once the coin goes public.
The Pi network was launched on 14 March 2019, and the company has held multiple events to interact with its large active community of miners and get their views on how to improve the network.
PiCoin is still in its pre-release stages and cannot be bought at any popular crypto exchanges available to investors. Furthermore, those who have mined PiCoin via the app will have to wait until the coin is publicly launched before they can sell their coins.
PiCoin price prediction
While we do not have a PiCoin price chart, the coin’s estimated price can be found on certain websites, which place its current price below $1. However, the coin’s price is expected to reach $2 once it goes public, resulting in impressive gains for existing miners.
However, investing in cryptocurrencies is generally a risky proposition. Investing in a project that is yet to be publicly launched after two years is much riskier, and investors should remember this when investing in PiCoin.
Users who have mined PiCoins risk getting stuck with worthless coins if the project fails to go public in future. Therefore, it is prudent never to invest more than you can afford to lose in any crypto projects, given the additional risk.
