The Pi coin (Pi Network) has been around for six years since its launch, and due to the lack of news about the mainnet launch and the listing on exchanges, there have been many doubts. However, this platform that allows free mining on a smartphone, finally on 2/12 announced on the official x that the mainnet will be launched soon, and that it will be officially listed on the OKX exchange on February 20, 2025. This has made the friends who have been mining for several years shout: Finally, I've been waiting for you! Good thing I didn't give up!
Next, let's take a closer look at what the Pi coin is, how to mine it, how to withdraw it to the exchange, and whether the future value of the Pi coin is worth investing in, or is it just the last hype of the project?
What is the Pi coin?
The Pi coin (Pi Network) was founded in 2019 by three students from Stanford University, with the initial goal of creating a blockchain economy that can be participated in by the general public without the need for expensive equipment, unlike Bit mining. Therefore, the Pi coin does not require you to have a high-performance mining rig, but only a "smartphone" that can connect to the internet and download the Pi coin App. By simply clicking inside the app for 24 hours a day, you can "mine" the coin, allowing more people to easily acquire cryptocurrencies.
If you want to learn more about what Bit is, we recommend reading:
4 steps to understand what Bit is (Part 1): Opening the blue sky of the coin sea for beginners!
However, the Pi coin is not without controversy. As mentioned earlier, the mining process has been going on for six years, and during this time, some have questioned whether the mining process is just utilizing the idle resources of the smartphone without any real-world value or ability to be cashed out. There are also concerns that the referral code model in the app is constantly recruiting new users to expand its influence, but the mainnet has been delayed and is still in the Beta testing phase, raising doubts about the authenticity of the Pi coin.
In addition, the Pi coin has also caught the attention of some countries. In 2022, the Chinese official media openly referred to the Pi coin as a "air coin" and warned that participating in the Pi coin may face the "risk of being scammed". That same year, the Vietnamese government also launched an investigation into the Pi coin on suspicion of "fraud". Although there have been many doubts, the recent announcement by the Pi coin official that the mainnet will soon be launched and that the Pi coin will be listed on the global top centralized exchange OKX, seems to have dispelled some of the previous concerns.
Pioneers, Open Network will launch at 8am UTC on February 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world… pic.twitter.com/AdpXNhpcUD
— Pi Network (@PiCoreTeam) February 11, 2025
How to mine the Pi coin?
The process of mining the Pi coin is quite simple, just follow these steps:
Download the Pi Network app:
The download links are provided here, suitable for iOS and Android
Register an account:
After downloading, you can choose the registration method, and go through a few steps to fill in the username, the last step is to enter the invitation code, which can be: Tinarorosmommy
Click the "lightning" icon once a day:
After completing the new user tutorial, the mining has already started, but you need to remember to come in and click every day.
Invite friends to join:
In addition to clicking, there are other tasks that can increase your mining speed, such as inviting friends to use your invitation code.
Complete the KYC identity verification:
To ensure that the Pi coins can be smoothly transferred to the mainnet. (But if you are a new joiner, you currently cannot KYC)
There are only eight days left until the Pi coin is listed on the exchange, so if you are just joining the mining now, it's actually a bit late. It is recommended that friends who have not participated in the past can closely follow the dynamics of the Pi coin after it is listed on the exchange, or pay attention to the development of the Pi coin ecosystem, and then decide whether to spend time and hardware costs to participate.
When can the Pi coin be traded?
The official announcement states that the mainnet will be opened on February 20, 2025, at which time users will be able to trade freely. Some exchanges (such as OKX) have already announced the trading schedule for the Pi coin, and the relevant announcement can be referred to the OKX announcement.
How to withdraw Pi coins and convert them to New Taiwan Dollars?
After the Pi coin mainnet is opened, you can follow the steps below to withdraw the Pi coins and convert them to cash:
Confirm that the Pi coin withdrawal conditions are met:
Withdraw the Pi coins to OKX:
Open the exchange, copy the receiving address for the Pi coins (the right image uses OKX as an example), and paste it into the withdrawal page of the Pi coin App. It is recommended to always use copy and paste, do not type the address character by character, as it is easy to make a mistake and the coins will disappear on the chain.
Convert the Pi coins to USDT (US dollar stablecoin):
After the Pi coins are listed on the OKX exchange, you can exchange the Pi coins for USDT.
Converting USDT to New Taiwan Dollars:
So how do you convert the earned Pi coins into New Taiwan Dollars? You need to transfer the USDT in a similar way as the copied address above to an exchange that allows withdrawal in New Taiwan Dollars. Here we recommend the Taiwan-compliant exchange "ZONE Wallet" introduced by Langchain, which can be used as a platform to exchange back to New Taiwan Dollars. For detailed operations, please see:The most beginner-friendly exchange! Learn 4 steps to deposit and withdraw NTD, and ride the bull market
The value and future development of Pi coins, is it worth investing?
Although Pi coins have now set a definite mainnet launch time and confirmed listing on exchanges, meaning Pi coins will officially "have trading value", previously before being listed on exchanges, there was no official pricing, and it was mostly limited to P2P trading. In the IOU trading (similar to futures) on the Huobi exchange (HTX), the price once soared to as high as $100 per Pi coin. Whether Pi coins can continue to appreciate in value after the mainnet is opened depends on the applications and market acceptance after the mainnet is opened.
If Pi coins are to maintain a value advantage, they currently face some challenges, including:
- Price uncertainty: Not yet officially traded, high price volatility risk
- KYC restrictions: Users who have not passed the Pi coin mainnet KYC will not be able to receive Pi coins
- Ecosystem development: Whether it can be widely applied in the future will affect the market demand for Pi coins
Although the news of Pi coins opening the mainnet and listing on exchanges has excited all the miners, and also attracted the attention of many friends who have not yet participated in the Pi coin operation, the old saying still applies: do not rush into the market because of FOMO emotions. If you are an experienced Pi coin miner, let me congratulate you, the six-year wait has finally brought good news; if you have not yet contacted Pi coins, you don't have to worry about missing out. When Pi coins go online, you still need to carefully evaluate the development potential of Pi coins and the applicable scenarios, and avoid blind investment, after all, many cryptocurrencies have high popularity in the early stage, but after being listed, they do not meet expectations, and even cause many investors to be trapped. So remember, the cryptocurrency market is high-risk, be sure to DYOR before investing, and maintain rational judgment.
Don't know what FOMO is? What is DYOR? I recommend you read:
2025 must-learn crypto terms for beginners, what do FOMO, ATH, HODL mean?
( * The content of this article does not constitute any form of investment advice. Any investment has risks, please research and consider carefully before deciding! )
〈How to withdraw Pi coins in 2025? A full attack on mining to withdrawal, is it an investment or the final dance?〉 This article was first published on《NONE LAND》.
