Pi Network is just a simple coin that has currently no value as it is not listed yet as a crypto or non-crypto currency. It is similar in almost all aspects like that of the crypto currencies and currently, it is in its phase 3 which might see the launch of Miannet block chain. Currently Pi Network has almost crossed thirty-three million so if you are curious about this new Pi Network then read this guide as it will solve all your concerns regarding Pi Network.
What Is Pi Network?
The Pi Network was launched by a group of Stanford University graduates in March 2019 which initially had 100,000 and is in testing stage. To validate the blockchain transactions for a specific crypto coin nodes are used and in return a mining payout is given called coins.
Crypto mining generally requires a high-end computer and that is not accessible to everyone so here comes the Pi Network that is a digital currency initiative. This makes the crypto mining accessible to everyone who cannot have a proper machine to mine the crypto currency as it is said that in future the coins of Pi Network will be used to exchange them with the crypto currency.
How to Mine Coins on the Pi Network?
The process of mining coins on Pi Network is quite simple so go through the steps below to use your mobile for mining the coins in Pi Network:
Step 1: Download and install the Pi Network application from Play Store in case of Android and from the App Store in case you have iPhone by searching the Pi Network:
Step 2: Next verify your identity either by giving your phone number or linking your Facebook account:
Next set password for your account and click on the “submit” button, after setting the password give your first and last name along with the username:
Next the application will ask for a referral code that is mandatory to get started on the Pi Network, so you need to have reference code, so enter one and click on submit:
Step 3: Once the account the created click on the icon highlighted in the image below to start mining the Pi coins:
So, this is how you can mine Pi coins in the Pi Network, you can increase the coins per hour by referring others to join this network, the more people join this network through your reference the more the rate of coin generation per hour.
The Pi Network has defined four types of roles that are:
- Pioneer
- Moderator
- Ambassador
- Node
These roles are differentiated from each other based on the number of people joined using your referral code and the rate of the coin generation:
To refer Pi Network to your contacts, go to the “Referral Team” option in the hamburger menu on the left side, after that click on “Invite” option and from there selects the contacts to whom you want to refer the Pi Network:
FAQs
Q: Does the Pi Network Give Money?
No, up till now the coins generated on the Pi Network do not hold any value because the network is in testing stage 3 where it seems to be launching soon.
Q: Does the Pi Network Use a Lot of Data and the Battery of Cell Phones?
No, the Pi Network uses a tiny amount of data that is approximately 45 KB per day and talking of the battery it certainly does not affect the battery timing of the cell phone much.
Q: Is the Pi Network Legit and Safe?
The Pi Network is completely safe and is not a scam at all, people normally get confused because its coins do not hold any value because it is still in its testing stage.
Conclusion
Pi Network seems to be an opportunity for the people who cannot afford a high-end computer to mine any crypto currency. This platform uses the cell phone of the user to mine the coins of Pi Network and uses very less amount of cellular data. There is only one disadvantage of Pi Network and that is its coins hold no value as it is still in test stage despite being active from 2019.
