Pi Cryptocurrency – If & How You Can Withdraw And/Or Exchange Your Pi Coins!
Welcome to a new episode of #supercalifunnelistic
If you don’t have a Pi account yet, sign up using 👉 https://bit.ly/3j1uEp8 and use Pi Invitation Code “RauchenwaldC” (without the quotes).
Read the Pi white-paper at 👉https://minepi.com/white-paper
Don’t want to watch the entire video? No problem. Use the timecodes below to jump to a specific part:
00:00:00 Hello & Welcome
00:45 How can I withdraw Pi coins?
01:04 What can I do with my Pi coins at the moment?
01:23 Are Pi coins worthless?
02:08 When will Pi coins have actual value?
02:32 Where can I get more information regarding Pi?
02:42 How many users does Pi Network currently have?
02:50 How long will people receive Pi coins for free?
03:04 Are there other requirements besides the number of users for Pi to achieve a real value?
03:25 When will Pi be listed on exchanges like Binance or Crypto.com?
03:41 How can I receive free Pi coins?
04:02 How much will Pi Coins be worth?
04:23 How does the number of circulating Pi coins affect its future value?
04:27 Should I sell my Pi coins ASAP?
06:12 Why should I NOT sell my Pi coins?
07:41 What’s the takeaway from this video?
08:15 Is there anything else I need to know about Pi?
Is your Pi Network related question not mention in this video? No problem, simply leave a comment down below.
Pi Network was founded in 2019 by multiple Stanford professors with the aim to create a coin that can equally be mined by everyone and does not provide an unfair advantage to people with more money or better hardware.
Pi coin the official cryptocurrency of the Pi network can only be mined until the Network reaches 100,000,000 users, and since there are currently only 7,000,000 users, you still have the chance to become a pioneer and be among the first 10% to mine Pi.
Since mining Pi happens on your smartphone and the mining speed is not determined by hardware or operating system of your smartphone but only depends on the number of people you invite to join your Pi Network it’s by far the fairest approach to building a cryptocurrency I’ve seen in a long time.
The biggest benefit of the current “mine Pi coins for free on your phone” phase is that we can be 100% certain that Pi Network is NOT a scam because it doesn’t require any investment at all to get started.
In order to start mining Pi coins on your phone you simply have to follow the steps below:
1⃣ Visit 👉 https://bit.ly/3j1uEp8 and download the Pi Network app.
2⃣ Launch the app and create your Pi Network account, either by using your Facebook account or your phone number.
3⃣ Enter “RauchenwaldC” (without the quotes) as your invitation code.
4⃣ Click on the “white bolt” icon to start mining Pi coins on your phone for free
5⃣ Repeat step 4⃣ every 24 hours
It’s not yet sure if or how much Pi coins are going to be worth in USD, but that really doesn’t matter that much.
For now, Pi Network and the Pi application on your phone allow you to mine the coin for free and even if the Pi Network project and with it the Pi coin die somewhere along the way, you did not lose anything.
On the other side, once Pi coin reaches the stage at which Pi coin can be traded on popular cryptocurrency exchanges it will have at least some monetary value making this one of the few existing opportunities to get cryptocurrency for free and benefit from it in the future.
This description contains affiliate links. If you decide to purchase a product through one of them, I will receive a small commission.
Hello, welcome to another video
with me, Christian Rauchenwald.
Now in this video, I’m going to
tell you if and how you can withdraw
your Pi coins or how you can
exchange them into real currency.
And the reason why I want to talk
about this is because since I initially
started mining PI in August, 2020,
so not that long ago, I’ve invited
a couple hundred users to Pi, as you
can see on the screen right there.
And since then, the number one
question that I’ve seen day after day
in the Pi chats, is people asking how
to withdraw PI, so how to exchange
their PI coins into a FIAT currency,
like US dollar, Euro, and so on.
And I want to point out that it’s
important that you watch this video
to the end, because otherwise you may
end up making it the wrong decision.
So let’s start with the
number one question.
How can you withdraw your Pi coins?
And the answer to that is currently
you can not withdraw your Pi
coins because Pi is currently in
phase two out of three phases.
So it’s not a full cryptocurrency yet,
and it’s not listed on any exchanges.
Now, I can hear you asking.
So if I cannot withdraw
it, what can I do with PI?
At the moment, you cannot
do anything with PI.
You cannot transfer it.
All you can basically they
do is mine it for free.
Think of it like in early Bitcoin
days when people mined thousands of
Bitcoins on their computer, but they
actually couldn’t use it for anything.
Now does that mean that Pi is
worthless or useless and that there
is no point in mining Pi at all?
No, it means the exact opposite.
You are among the pioneers among the
first couple of million users that
signed up for PI and as a thank you
or as a token of appreciation and also
to build an active community, and a
certain amount of PI in circulation,
you currently receive PI for free.
Other people eventually will not be able
to get their coins for free anymore.
So it’s important that you take advantage
off this opportunity and that you simply
spent the five seconds every day to open
your Pi app and push the mining button
so you mine for another 24 hours, and
you receive your free Pi coins every day.
Now assuming you continue mining
pie coins, the question is when
will Pi have an actual value.
So when will you be able to withdraw
it and also how much will it be worth
now to start with the first question.
Pi will achieve a real value once
it can be traded on exchanges like
crypto.com, Binance and so on, and that
will happen once PI reaches phase three.
Now, if you want to have a
detailed answer, I recommend that
you read the white paper that
you can find on the PI website.
And there’s also a link to it
in the description down below.
But to provide you with
a simplified answer.
Currently Pi has roughly 8 million users.
So that’s 1 million more, since I
joined PI in August two months ago.
And the way things look now until
PI achieves a total of 10 million
users, all pioneers, so all users that
sign up right now, will be able to
mine free Pi coins and receive free
coins every day for pushing a button.
Now, in addition to the 10 million
user limit that may change, we
will see about that in the future.
There is also the fact that the
PI developers need to finish
some of their work so that the
nodes are tested and so on.
And that everything’s working and
to actually turn PI into a fully
grown cryptocurrency and have
it listed on certain exchanges.
So it’s possible that Pi will be tradable
and exchangeable by the end of the year.
It’s also possible, that it will take
another year or maybe even longer.
The point again is that you currently
have a great opportunity to jump
in early and get your Pi coins
for free without risking anything.
All you have to do is open your Pi
up once per day on your phone and
push the lightning bolt button,
so you mine for another 24 hours.
Ideally, if you want to
earn more Pi per hour.
You’ll tell your friends and family about
it and have them use your invitation code.
So you actually end up earning more Pi
while you can still get it for free.
And to answer the second
part of the question, how
much is PI going to be worth?
That’s something that nobody can
answer you right now, because it
depends on a lot of different things.
The longer the free mining continues,
the more Pi will be in circulation.
So therefore, there will be way more
supply, which would mean each coin
will be worth a little bit less.
To provide you with a different example,
we can look at the Tesla stock in 2020.
During March, it fell to
roughly $300 per stock.
Eventually it climbed up to over
$2,000 per stock, and then the
stock were split one to five.
So if you had one Tesla stock worth,
let’s say exactly $2,500 from one
day to the other, you had five Tesla
stocks, but each was only worth $500.
So that would be a simple example of
how the supply of something in this
case, Tesla stocks, but in our case, PI
coins will have an effect on the market.
Now another thing that’s important
to understand this just because
Pi will be listed on an exchange,
doesn’t mean that it’s smart to sell
your Pi coins on day number one.
Again, if we go with the Tesla stock
example, imagine that somehow you
got one Tesla stock per day for
free by pushing a button in the app,
but you cannot sell it right now.
You and hundreds or millions of other
users, get free Tesla stock every day.
And let’s say on the 1st of January,
you will be allowed to trade it.
If now on the 1st of January,
everybody tries to sell their stock.
There will be nobody there to buy
all that stock and the price will
instantly fall from $500 per stock
to $1 per stock or $2 per stock.
And the same would happen with Pi coins.
The moment Pi achieves phase three and
you can exchange and trade it on platforms
like crypto.com and Binance, there will
be a set upon or agreed upon price.
And if then everybody
just tries to sell it.
Nobody will be there to buy.
So some people may not be
able to sell it at all.
And for the other people, the
price will plummet instantly.
So it’s not the smart thing to do.
You have to see Pi for what it
is and what it is, it’s a great
opportunity to get a lot of free Pi
coins that you can then use longterm.
Yes, when PI launches, you may want to
sell some of your Pi coins instantly
to get some money, but you also
want to keep some of them longterm.
Again, let’s take Bitcoin
for an example here.
Initially Bitcoins were
worth almost nothing.
Then they eventually were worth $1,
$2, $10, a hundred dollars, $300.
Nowadays we’re looking at a Bitcoin
value of more than $10,000 per coin.
Now imagine you would have gotten
500, 5,000 or more Bitcoin for
free when it initially started.
And you sold everything on day
one for two or $3, you would
probably regrett it a lot today.
And the same applies to Pi.
Now I’m not saying that Pi will be
worth $10,000 per coin because that,
again depends on supply and demand and
how people use Pi in the daily lives.
If everybody just holds their
Pi coins and nobody’s willing to
sell them, it’s also not great.
The key is that once Pi
achieves phase three, that you
look for how you can use it.
Is there an online store that
accepts Pi as a payment method.
Well, and maybe use it to buy your
next iPhone or you order a pizza
online or something like that, to
give it a real purpose in our lives.
Use it to send money to friends.
So instead of sending them a regular
wire transfer, send them Pi coins and
they can then cash them out, for example.
So to give Pi a real purpose in
this world, and with that, you will
help increase the value of PI, which
again, will increase the value of
the remaining Pi coins that you have
left after sending a couple hundred
coins to a friend, for example.
So to sum things up right.
Currently, it’s not possible to sell your
PI coin or withdraw the money from your PI
wallet, but that does not mean that Pi is
worthless than that you should not mine.
It means the exact opposite the longer
you mine now, and the more coins you
get, the more money, you will actually
have once PI achieves phase number
free, but you definitely should not
give away all your Pi coins once
it’s possible, but you should keep at
least half or even more your Pi coins
longterm to benefit from an increased
value over the next couple of years.
Now last but not least.
You may also want to check out
the video I published recently.
I’m going to put it in the card up
here where I answer a couple of other
very common Pi related question.
So you actually know
what you’re getting into.
As always, thanks for watching.
See you in one of my
other videos until then.