There are a lot of things happening in the Crypto-world. And it is quite difficult to keep yourself updated with the latest news and happenings. And here comes the PI Network, yet to be launched but created a lot of buzz and current news affairs for the crypto lovers.
So, Can you make money $500 Per Day Mining Pi Coins From Pi Networks ?
Yes, but there is one simple catch that I have explained in the post.
Pi Networks is just like other crypto networks out there but got the attention due to their initiation of mobile-first Crypto network design, that can let us mine Pi Coins right from the mobile phone.
But before you decide to jump into it. Consider reading everything, or else you might fall into the scammer’s hand. Don’t worry. This is fully legit, created by Stanford graduates, and approved by big tech companies like Google and Apple.
The market is getting saturated slowly, if you want to get started then consider ASAP. And yes, it’s possible you make around $500 per day mining Pi Coins through mobile phone.
This is a quick guide that tells you everything that anyone wants to have as a piece of information before they can jump into it.
Brief About Pi Network
Pi network is a Pi new digital currency program that aims to keep crypto-mining accessible through a mobile app. But its cryptocurrency has not been launched and is expected to launch in near future.
As cryptocurrency is launched similar to IPO launch which is listed on BSE and NSE and shares are traded.
Similarly, Pi cryptocurrency will be offered in the future so that it can be traded on crypto exchanges.
What Special About Pi Network ?
The pi network is a decentralized cryptocurrency platform that allows you to mine pi coins from your mobile app called pi network.
Who Created Pi Cryptocurrency?
Pi’s new digital currency was started by a couple of Stanford graduates back in the 2019 project. And developed by Standford PhDs and graduates Nicolas Kokkalis, Chengdiao Fan, and Vince McPhillips.
If you are interested enough, you can join the team. I have no idea what’s the benefit of joining the team. If you find any benefits, let me know in the comment in the section.
Pi Network Launch Date
Pi network has not been launched but before the launch, the pi coin is mined.
However, Pi cryptocurrency or pi network started in 2019 and was supposed to launch in 2020/2021. But now they are responding to launch in 2022 so the launch date is uncertain and until it is not launched.
At the time of writing and publishing this post.
How does Pi Network work?
Just like any other crypto-network, it is also a type of network that is designed to support the mobile-first.
To understand how the Pi network work, first I suggest knowing about the fundamentals of all crypto-currency works. This video on YouTube video I found will help you clear all your doubts.
Generally, the pi network is the platform where pi cryptocurrency is in its beta testing and still has not been launched. As data displayed are based on user input compiled by Pi network Coinmarketcap (by the world’s most-referenced price-tracking website).
However, before launching, the pi coin is mined under the app called Pi Network which is free to download.
Under this app, the mining is done by opening the application every twenty-four hours to click the mine button. As a result, mining is done with a simple click.
Other than that, to increase your speed and reach the next level. You have to connect more people under you with the referrals. As more & more people are connected with your referral in the application, the more levels you will reach and get more Pi coins.
What Is KYC In The Pi Network?
To sum things up, the KYC process within the PI network just stands for know your customer. And it’s a way to comply with legal regulations to actually verify the identity of a customer or a user.
KYC Stands For Know Your Customer and it’s a way to comply with legal regulations to verify the identity of a customer or a user.
However, the objective of KYC guidelines is to prevent businesses from being used by criminal elements like money laundering. And it’s a requirement in most countries when it comes to financial instruments.
When you want to go and open a bank account. The bank has to do a KYC process, which means they have to verify your identity and so on.
Similarly, this applies to trading platforms, bank accounts, and a lot of other things in your daily life. So it’s just an acronym for know your customer.
About KYC Slots In The Pi Network
Each coin differs slightly in the KYC verification process. The Pi Network randomly selects 100,000 users and performs KYC verification. And once this is completed, 100,000 users are randomly selected again.
But currently, Pi has several verification slots and randomly assigned them to the users. So eventually you will see a popup in your Pi app which notifies you that you are now accepted and can further complete the process.
How Does KYC Work Within The PI Network ?
PI itself doesn’t do the KYC process. But they currently rely on a third-party app called YOTI App from UK and process it.
So instead, asking you to send them your passport or another ID and so on. They basically use third-party verification.
But even if that doesn’t work, PI developers will ultimately introduce alternative methods to complete that process.
Pi Network’s KYC Safe
As for the coin mining, you are providing your time and phone. So it is also possible that it may access your data. The report was suggested by the news but with unknown sources and was not verified. But better be cautious.
How To Join Pi Network Program ?
The best way to join the Pi Network program is just to download the app.
And install it on your phone and get started (if possible, try to use separate mobile phones for the app because your phone’s resources like processing power used in mining Pi coins for you which is earning for you).
You can download the mobile application for android or Apple Ios.
How To Make Money with Pi Network ?
To make money with Pi Network, you should download this application and just click on the button of Mining once in 24 hours. Lastly, your mining will start.
Following that, the coins of your Pi network will start being generated. And at the time when this currency will be launched. you may absolutely earn a huge gain if you sell pi coins in the future.
But the point which must be noted, that it is all estimated pi network value until it is launched in the currency market.
You can mine the coins but be cautious. As it is advisable to download such an app or mine the coin on separate mobile phones which do not contain your valuable data or information.
So, What about making $500 per day mining Pi Coins That I mention in the title ?
Let’s find out.
Pi Network Price Prediction
Before writing this section and deciding the perfect title of the Simplified Blogs Post, I have done some research to determine the value of Pi Coins and price in terms of dollars.
I research and noticed that many crypto experts are assuming that the Pi price will be around $ 1 to a max of $ 5. So, if you are a crypto miner or someone wants to get started as fresh, then you can consider this option to mine pi coins from your phone, and based on the value of Pi coins you are final earning in dollars can be calculated.
So, the answer to your question – Can you make $500 from Pi Network ?
Depends, on the market value of Pi coins. You can assume that you as a Pi crypto miner can make around $500, as per the discussion through several forums and Reddit.
But according to pi network Coinmarketcap, “Users are able to generate Pi coin through the process of mining. Pi Coin has a current supply of 1,378,368.8048804 with 0 in circulation. Consequently, the 1 pi network value today is 0.00707719 USD and is up 0.00 over the last 24 hours”.
However, the fact is, we can’t mention the estimated value of pi cryptocurrency until its launch date. As no predictions could be absolutely right on pi network value.
So, better be safe as much as possible.
Is Pi Network Scam or Legit ?
Another concern many users have raised is regarding the data a user has to provide when they download the Pi Network app. Including their full name, phone number, and Facebook username. Which could be used to run a scam or hacking attempt on further personal information and finances.
Since pi currencies are not currently launched. But as logic why Pi network cryptocurrency is not a scam because Pi network app is trusted by Google Play Store as well as App Store.
The testing period has been going on since March 2019.
So, currently, there are no cases of information theft, hacking, or identity theft.
Is Pi Network Safe ?
There’s also the fact that the Pi Network definitely lacks transparency compared to other cryptocurrency platforms. But as the goggle rating is quite good as a result, and it is 100% safe at moment.
To be clear enough, the PI network is in its beta phase. Where the network growth of the test net is in progress.
Pi network is the fastest growing network with the 7+million user at moment. The only crypto token that’s mined through the phone app.
But till the update, there is no issue, however a couple of months before they have started to provide the ads to market inside the Pi.
Though the ads are very limited at moment. There is no standard information if they are accessing your data or not.
You can decide the safeness of the platform only when it hits the real market. Let’s wait and watch. At moment PI is safe enough.
Is Pi Network A Pyramid Scheme?
We are aware of the pyramid scheme. As they have no products or services but you have to pay a certain amount of money, to participate as a referral. Later, you must act as a referrer yourself and recruit other people, based on a promise to receive payments.
The Pi network, on the other hand, does not require any fee payment. Only it is trying to create a large user base by allotting people in its beta version to mine Pi using their mobile phones.
To be true,
There is no actual risk involved within this crypto network. As mining can’t drain the battery of your mobile and it doesn’t hinder other things.
The only risk that you simply assume to be is. The probability that the Pi network project will fail in the future.
How To Increase Mining Speed In The Pi Network?
Mining speed can only be increased in one way.
That is as much as you invite more and more people in the network and connect through your referral link. You earn 25% of the base mining rate from each active people who have entered your network and does the mining.
Pi Coin Mining Mistakes
Some of the mistakes to avoid while mining the pi coins are:
- Read the terms & conditions of the Pi platform properly as it could risk your data.
- Try to use separate mobile phones for mining.
- Do not pay any fee for further processes in the future. Until fully authorized(as it could be a scam).
- Do not take any shortcuts to confirm your KYC. Have little patience, the developer will fix the issue sooner or later.
Should You Mine Pi Coin On Your Phone ?
Pi coin mining is 100% secure. But when it comes to mining, the only precaution you need is, to mine the pi coin in a separate mobile phone that does not have important personal data.
And everything is good to go.
Pi Network Trends :
The Reality Of The Pi Network And Pi Cryptocurrency
For now, we could not make them scammer or fully authentic. But as the google rating is quite good and also no harm to our data. There is nothing wrong with mining the pi network and pi cryptocurrency.
You can mine but with the right anticipations and research.
Is The Pi Network Better Than Bitcoin ?
Pi Network is not launched yet and under the development phase of beta, and there is a correct valuation of Pi coins, comparing Pi Crypto with well-functioning Cryptosystem – Bitcoins is absurd.
As we know bitcoin is authentic and fully legit in comparison to pi Network. Because bitcoins are registered under cryptocurrencies.
Whereas the pi network is still under its beta mode and just they are trying to develop their network and the channel.
But the good thing is unlike Bitcoin, users can gain Pi coins at an hourly rate through a mobile app download.
Will Pi Be The Next Bitcoin?
Who knows. Till now, Bitcoins is at the top followed by Ethereum.
Depending on the number of cryptocurrency users and exchanges that choose Pi. The bull position could see the value of Pi reach $1 if it launches by the peak of 2021, according to crypto exchange Changelly. Over that, it could also climb to $5 by 2025, which is based on some predictions by the experts.
What Happened With The Pi Network In 2020 ?
It was assumed to be launch in the starting month of 2020. And also prediction was made that the cost of pi will be $0.36 by the beginning of 2020. However, it is not launched yet so we could not predict its current price.
What About The Future Of The Pi Network ?
Future could only be predicted, not 100% true. The same prediction is made about the pi network trade and its coin by the crypto exchange and also the price could rise to $5 by 2025.
Will The Current Value Of Pi Cryptocurrency Increase In The Future?
According to the current status, pi is a new digital currency. And its popularity of mining pi coins through mobile phones is predicted to rise to $ 5 per coin up to 2025 case if it launches by the end of 2021. A report by Digitalcoinprice.com. However, the information was deleted in March 2019.
Pi Coin Price Prediction 2021
According to the statements of crypto exchange. It depends on the number of cryptocurrency users and exchanges that use the pi coin network. The bull case could see the price of the coin reach $1 if it launches by the end of 2021.
Price Of Pi Cryptocurrency Prediction 2025
Due to the adoption of the pi network by millions of users and its popularity. The price of pi currency/coin could rise to $5 by 2025 predicted by the crypto exchange.
Pi Coin Price Prediction For 2021-2025
Digitalcoinprice.com’s review of 2021 to 2025 projected that the pi virtual currency price would rise. From an average of 0.0107 against the US dollar in 2021 to 0.0127 in 2022 and 0.0212 by 2025.
However, this message was deleted soon.
Some Frequently Asked Question
All the analysis is based on my personal investigation. I have tried my level best to include all the information and details on the above topic.
But, it is advised to do your own research further before you get started.
If you’ve any queries or anything to share, don’t hesitate to comment down below. I’ll be back to discuss with you ASAP when you comment.
If you found this post helpful and beneficial. Please do share it on your social network and spread awareness about the Pi network. As it really motivates me a lot to bring more content like that.
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