How to convert Pi coins to cash? What's its future & price prediction?

Category: Finance

Gradually building its space in the crypto universe, Pi coin has been creating a buzz since the beginning of 2021. Pi is a blockchain initiative started by Stanford scholars Dr Nicolas Kokkalis and Dr Chengdiao, who aim to capitalize on smartphone users for its decentralized mining process. It is the first of its kind, a cryptocurrency that can be mined through an internet-supported mobile phone. Pi Network’s mobile-oriented mining application has onboarded more than 18 million contributors as of mid-June. As Pi miners speculate on the coin’s future and price prediction, few are also looking to convert their Pi coins to cash or fiat currency. But unless Pi Network goes for an initial coin offering (ICO) on crypto exchanges, it would not be possible to withdraw or convert these mined coins. Pi’s cash and peer-to-peer transactions As of now, Pi coins cannot be converted to cash or other cryptocurrencies. So, is it possible to make a peer-to-peer transaction? Currently, Pi miners – or so-called “pioneers” – can send and receive test-tokens through Testnet wallet, which is a pilot program. The real Pi coin will be available to transfer once the network launches the main-net wallet. Pi’s core team stated that the current coin value is zero, and that its value will rise once people start using it to transact goods and services on a large scale. This claim can be seen as far-fetched by many as bitcoin, the largest cryptocurrency, has been around for more than 12 years now and is yet to make its presence among people as a medium of transaction for goods and services. Does Pi have a future? The Pi team expects to launch the cryptocurrency on exchanges by the end of this year. In the meantime, Pi developers are building a utility platform that will enhance its value. The Pi team has adopted a steady approach to launch its main-net and making its foundation stable by adding more mobile users. The Pi network has been operating across the globe in 52 languages. As an established network, it could sustain among the existing 10,000 cryptocurrencies. There could be a future for this unique cryptocurrency candidate, and we can further evaluate it once it goes live on crypto exchanges. Bottomline As Pi is expected to get listed on crypto exchanges this year or the coming year, Pi holders may have to wait to cash in their mined tokens. Adding to that, the initial listing value of Pi is still uncertain and expected to be very low. Hence, miners could hold their coins for at least two years to get a fair value. Please note: The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.