The Pi Network is a new digital cryptocurrency developed by Stanford graduates. It is currently developing, with no coins available to purchase on exchanges. However, users are already mining and earning money on the network through their apps. This article will discuss how investors can make money with the Pi Network.
Please read our article on how to sell Pi coins.
How to Make Money With Pi Network?
The Pi Network allows users to earn speculative Pi tokens through activities like mining on their phones, referring new users, running network nodes, developing apps, and potentially trading, staking, or selling goods and services in the future, contingent on the network’s successful launch and token value realization.
Investors can mine the Pi coins through the app. Later, when this crypto goes live and gets listed on the exchange, they can sell it or trade it to earn money.
The Pi Network, developed by a team of Stanford graduates, allows users to mine coins using their mobile phones, participating in securing the network and being rewarded with Pi tokens in return.
However, it’s important to note that as of my last update, Pi tokens were not yet listed on any cryptocurrency exchanges and did not have a market value. The project was still being tested, and the Pi tokens mined were of speculative value. Assuming that the project progresses and Pi tokens gain real-world value, here are some ways one might be able to make money with Pi Network:
- Mining Pi Tokens: The most straightforward way to earn Pi tokens is through the Pi Network app. Users can earn tokens by simply confirming that they are not a robot daily and contributing to the network’s security. If Pi tokens gain value in the future, these mined tokens could be worth something.
- Referral Program: Pi Network has a referral program where users can invite friends and family to join the network. By doing so, users can increase their mining rate and earn more Pi tokens. If these tokens gain value, the extra tokens earned through the referral program could lead to more earnings.
- Node Running: For the more technically inclined, running a Pi node on a computer can contribute to the network’s security and governance. In return for this service, node runners might receive Pi tokens. This could be another source of income if the tokens appreciate.
- Developing on the Pi Platform: If Pi Network successfully launches its blockchain platform and gains adoption, there could be opportunities for developers to build applications on the Pi Network. These developers could make money through their apps, either by charging for them or through advertising and in-app purchases.
- Trading Pi Tokens: If and when Pi tokens become tradable on cryptocurrency exchanges, there could be opportunities to make money through trading, much like with other cryptocurrencies. Traders would buy Pi tokens when they believe the price is low and sell when they believe it is high.
- Staking Pi Tokens: If the Pi Network implements a proof-of-stake or similar consensus mechanism, users may earn rewards by staking their Pi tokens to help secure the network. This could be another way to earn additional tokens.
- Offering Goods and Services: If Pi gains a critical mass of users and acceptance as a form of payment, individuals and businesses could earn Pi tokens by offering goods and services in exchange for Pi.
- Pi Network Marketplaces: If marketplaces develop within the Pi ecosystem, users could participate by selling items or services in exchange for Pi tokens. This could range from digital goods to physical products.
Due to the development phase, the Pi network is unavailable and not listed on any exchange. However, it is experiencing an increasing user base mining the Pi coin on the app.
First, it’s crucial to understand how the Pi Network works. The network uses a consensus mechanism called “Proof-of-Stake” (PoS). This means that instead of relying on powerful computers to confirm transactions and generate new coins, users stake their coins to verify transactions and receive rewards. This also makes it easier for anyone to mine/earn coins without needing expensive hardware or electricity costs.
To start making money with the Pi Network, users must download the app from either Google Play or Apple App Store (depending on your device). Once you have downloaded and installed the app, you can register an account using your phone number or email address. After registering an account, you can start mining the Pi coin by simply tapping the “Lightning” icon on the home screen of your app. You will then be rewarded with a few Pi coins based on your contribution and effort.
At this stage, you won’t be able to directly exchange your mined coins for cash as the currency is still in development and unavailable in any exchanges. However, if you keep holding your mined coins until they are listed on an exchange, you could earn some profits by trading them or selling them at higher prices than what they were purchased at.
Pi coin price today
It’s worth remembering that while investing in crypto can be rewarding financially, it also carries certain risks, such as market volatility and uncertainty around regulations, etc., which should all be considered before investing any money into any crypto project or currency, such as Pi coin. Additionally, before diving straight into mining/investing in Pi coin, one should research other cryptocurrencies to understand their risks & rewards properly so that they can make informed decisions when investing their hard-earned money into something like this network.
In conclusion, if done correctly, investing in cryptocurrencies such as Pi coin could potentially be quite profitable for investors who take time out from researching different projects before jumping headfirst into investing in them; however, like most investments, there are always risks associated with it so individuals should always ensure that they do proper due diligence when looking at projects like this one before committing real money towards it.