how to withdraw pi network (2024)

FAQs

Can I withdraw money from the Pi network? ›

Can I withdraw my Pi? When can I turn Pi into “real” money? No, you cannot withdraw Pi yet. Withdrawals or transfers of Pi are restricted until the project reaches Phase 3 (Mainnet) to prevent bad actors from accumulating Pi from fake accounts.

It's important to note, however, that unlike other cryptocurrencies, Pi coins are not yet available for withdrawal to exchanges or other wallets. Miners and Pi users will be able to withdraw their coins after the network upgrades to the Pi coin mainnet in the third phase of its roadmap activities.

If you're looking to convert your Pi coins into cash, you can sell them to Pi vendors or traders who deal with them for a profit. Before you can do this, ensure you've completed the required steps to move your coins to the mainnet, where they become a tradeable cryptocurrency.

You cannot withdraw Pi yet. You will be able to withdraw Pi or exchange Pi for other currencies in Phase 3 of the project when Pi transitions to a fully decentralized blockchain.

The price of converting 1 Pi Network (PI) to USD is $31.12 today.

Pi coin value will be near 68$ in 2024, and it will fluctuate, but it will eventually gain more value. In 2026, it could be close to $405. This is also determined by the market. The Pi coin is expected to be worth $2 in 2023, and the Pi network is expected to be worth $11 or $14 by the end of 2023.

The current state of things is clear - you can't buy Pi Network coin, and if you're wondering, “can I sell my Pi coins?”, the answer's the same - at this point in time, you cannot. It's also unclear when you'd be able to do so - as in, when the mainnet will open.

Moreover, the Pi Network has not set a maximum supply for the coins yet. And since the Mainnet is presently enclosed, the Pi coins have not been listed on any exchange platforms, which means that they cannot be traded on crypto exchanges or even shared out of the network yet.

One of the primary ways to cash out Pi coins before the official exchange launch is through peer-to-peer (P2P) mechanisms. This method allows pioneers to exchange Pi coins directly with other users, bypassing intermediaries such as crypto exchanges.

Presently the Pi that you get have no value. They are not traded on any cryptocurrency exchange. At present you can't earn money from the Pi App.

Where can I exchange pi for USD? ›

The most common way of converting PI to BTC is by using a Crypto Exchange or a P2P (person-to-person) exchange platform like LocalBitcoins, etc.

The Pi Network app does not actually mine cryptocurrency. Instead, it uses a system called "proof of stake" to distribute coins to users. This system is not as secure as traditional mining, and it is more susceptible to fraud.

The coin was designed to transfer value, enabling payments for a wide range of products and services. Currently, Pi Network users can only trade and transfer tokens with each other. However, after the release of the open Mainnet, vendors and merchants will likely begin accepting the currency too.

To start mining PI, users must download the Pi Network app and sign up using an invitation code, usually received from the person who referred them. The Pi mining app doesn't need to stay open for the mining to occur. Users must check in every 24 hours and hit the lightning button to boost their mining rate.

The current state of things is clear - you can't buy Pi Network coin, and if you're wondering, “can I sell my Pi coins?”, the answer's the same - at this point in time, you cannot. It's also unclear when you'd be able to do so - as in, when the mainnet will open.

Is Pi Network safe? The Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future.