Pi Network (PI) digital currency is the first social coin that can be mined with your phone. On Pi Day (14 March) in 2019, it was launched as a beta version by Dr. Nicolas Kokkalis, Stanford grads, Vincent McPhillips, Aurelien Schiltz, and Dr. Chengdiao Fan. This digital currency quickly gained the attention of the users who wish to be a part of the latest social network and try crypto mining. Young and promising projects are being monitored by Changelly. So here are some steps on how to do Pi mining.
How Does Pi Mining Works?
While in Bitcoin mining there are still huge expenses and requires high power inputs which are not at all useful for the environment, the formulators of the Pi cryptocurrency took a huge leap forward and evolved in the mining sector. The main idea was to build a user-friendly channel where users can form chains and do Pi mining with very low cost and limited drainage of battery by just using a mobile application. Pi Network price in India is 1.776587 INR.
The mobile application of the Pi crypto is user friendly and it allows the users to earn Pi in just a few simple steps and contribute to the Pi community. Even though the formulators are promising to provide moon, still now money cannot be withdrawn from the Pi Network.
Now you may wonder, when will Pi mining end? Pi mining is likely to stop after it attains Phase 3 of its development. Phase 3 is predicted to be finished by the end of 2021 or by the first quarter of 2022. The developers may stop the mining process after it reaches 1 billion users.
Step By Step Guide On Pi Mining
Pi mining is as simple as surfing any application on your phone. If you know once on how to mine Pi, you can do it easily. Here are the simple steps with which you can do Pi mining with just your smartphone.
- The first thing that you will require to do is download the Pi Network app.
- Once you have downloaded the app, you will have to sign up. Now on the sign up page, you will get two options to sign up with: phone number or Facebook. You can choose either one.
- Now once you have done choosing, the next thing you will have to do is give a password. Give a strong password that you can remember.
- Then in the next step, you will have to fill in all your personal credentials. Ensure that you enter your original identity. Once done, enter your country and phone number, and proceed.
- In the next step, you will have to enter the invitation code. This is a must. You cannot skip this step. You can take the invitation code either from your friend who already does Pi mining or you will have to Google it.
- Once you have entered your invitation code, you will be signed up.
- Congratulations, you have successfully signed up for a Pi mining application.
- Now tap on the Lightning icon on the right. To prove that you are not a robot, but a human, you will have to visit the application daily. The digital currency will be credited within 24 hours after which you will be required to activate the Pi Network mining once again.
- And the final step is to take a tour of the app. This will help you to understand the working of the app properly. Now you can start to mine with just your smartphone.
The application offers the following ranks to its user:
- Pioneer: This is the beginning level for all miners. The volume of mining at this level is 0.39 π/h.
- Contributor: To unlock and reach this level, it is enough to mine digital currencies for 3 days.
- Ambassador: This rank is for all those users who invite other miners to join the Pi Network.
- Node: This level is for those users who have attached additional hardware to the network. This level is still under development and will be released soon.
Pi Network Coin is a new social digital currency that is supported and protected by regular people. This application is developed by a team of PhD. graduates from Stanford University. If you are wondering how to sell Pi coins, let us tell you presently you cannot purchase or sell coins as it has still not launched as a digital currency.
Here Pi mining can be done from your regular smartphone and no bulky, expensive hardware will be required to do so. Along with that this application also controls the battery consumption while you do mining. The main concept behind this design is to formulate an inclusive online ecosystem where regular people can mine digital currencies.
Frequently Asked Questions On Pi Mining
As Pi can’t yet be traded, it presently has no value However, the application asserts to provide users the ability to increase their mining rate by inviting friends and family to join the project.
Pi has yet to launch as a digital currency that investors can sell or purchase. You can mine the coin via the Pi Network app if you receive a referral code from a present user.
Yes, Pi is not a scam. It is a genuine effort by a team of PhD. graduates of Stanford University to give the regular people greater access to digital currency. Pi’s core team is conducted by two Stanford PhDs and one Stanford MBA, all of whom helped construct Stanford’s blockchain community.
Pi does not hinder the performance of your phone, drain your phone’s battery, or use your network data. Once you click on the lightning button, you can even close the application and you will continue to mine Pi.