PI Network Coin: What buyers need to know

Pi Network Coin offers an innovative platform that aims to make cryptocurrencies accessible to everyone by enabling mobile mining while focusing on user-friendliness.

Introducing Pi Network Coin

Pi Network Coin is a cryptocurrency that aims to make digital currencies more accessible to a broad user base.

• Unlike traditional cryptocurrencies like Bitcoin, which are based on energy-intensive proof-of-work, Pi Network uses a more environmentally friendly approach that allows Pi-Coins to be “mined” directly on smartphones via a mobile app.
• This concept was developed by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both Stanford graduates, and officially launched on March 14, 2019 (Pi Day).
• The underlying technology of the Pi Network is based on the Stellar Consensus Protocol (SCP), which makes it possible to validate transactions efficiently and securely without resorting to energy-intensive processes.
• Users, also known as “Pioneers,” can earn Pi-Coins simply by tapping the app daily without significantly impacting their device’s battery life or performance.
• A key feature of the Pi Network is its emphasis on security and trust within the network. Each user undergoes a Know-Your-Customer (KYC) verification process to ensure that they are real people, which strengthens the integrity of the network and minimizes fraudulent activity.
• With the transition to the open mainnet on February 20, 2025, Pi Network has reached a significant milestone. This step allows users to transfer their Pi coins to external wallets and opens up the possibility of trading Pi on various cryptocurrency exchanges.
• In addition, the open mainnet supports the development and integration of decentralized applications (dApps) designed to expand the practical uses of Pi in everyday life.

Important considerations for potential buyers

Before investing in the Pi Network Coin, there are several factors to consider:

• Market volatility: As with all cryptocurrencies, the price of Pi Coin can fluctuate significantly. You should be aware of this volatility and only invest amounts that you can afford to lose.
• Security measures: Make sure to store your digital assets in secure wallets and use strong passwords and two-factor authentication to prevent unauthorized access.
• Tax treatment: Profits from the sale of Pi Coins are considered private sales and are subject to income tax if the period between purchase and sale is less than one year.