Pi Mainnet is Live! Here’s How to Sell Your Pi Coins Safely

Key Takeaways

• The Pi Network is now live on the mainnet, and many investors are seeking ways to convert their tokens to cash.
• The official PI coin is available on several exchanges, including BitGet, OKX, and HTX.
• There are several ways to sell Pi coins. Users can convert their PI to USDT or to cash via P2P channels.
• Only users who have successfully migrated to the mainnet and completed KYC verification are eligible for transfers.
• Remember to always put safety first in all trades and only transact via trusted channels.

The Pi Mainnet is now live, and major exchanges like BitGet, OKX, and HTX have listed the native $PI cryptocurrency.

Holders now finally have the chance to trade their asset and cash out on their mined Pi.

If you’re looking to sell some (or all) of your holdings, this guide will walk you through how to do so.

Steps To Selling Your Pi Coin

Selling your holdings involves three key steps: transferring to an exchange, selling it for USDT, and withdrawing your funds.

Here’s how it all works:

Step 1: Transfer Your Pi Coin to an Exchange

Before selling your Pi coin, you first have to move it from your Pi network wallet to a crypto exchange that supports Pi trading. Follow these steps:

1. Open the Pi browser and navigate to your Pi network wallet.
2. Enter your password and access your wallet.

   

3. Tap on “Pay/Request” and select “manually add wallet address.”
4. If you didn’t have an account on a supported exchange like BitGet or OKX, you can always sign up and complete your KYC on them before proceeding.
5. Whichever exchange you choose, head over to the deposit section and find the Pi Coin option.
6. Copy the deposit address underneath and return to the Pi network browser.
7. Paste this address and initiate the transfer.
8. Once this transfer is complete, you should check your exchange balance in a few minutes.
9. Make sure that your Pi coin has appeared in your exchange wallet and is ready for trading.

Step 2: Trade Your Pi for USDT/USDC

Once your Pi has appeared in your exchange account, the next step is to trade them for some USDT.

Here’s how to get things done:

1. Navigate to the Spot Trading section of your exchange.
2. Search for the Pi/USDT trading pair.
3. Choose which type of trade you would like to perform:
   Market orders: Executes trades instantly at the current price.
   Limit orders: Executes trades at a set price.
4. Enter the amount of Pi you would like to sell, and complete the trade.
5. Once your order has been confirmed, your USDT will be available in your wallet.

Step 3: Withdraw Your Funds

Now that you have some USDT in your wallet instead of Pi, you can choose to withdraw it as a cryptocurrency or convert it to fiat (cash). 

Option 1: Withdraw as crypto

• Transfer your USDT to an external wallet like Trust Wallet or Metamask.
• If you prefer other cryptocurrencies, you can swap to Bitcoin, Ethereum, or any other.

Option 2: Withdraw as cash

If you need cash, you can always use your exchange’s P2P option to accomplish this:

1. Go to the P2P trading option of your exchange.

   

2. Choose your preferred method (whether bank transfer, PayPal, or any other option).
3. Select a trusted buyer, place an order, confirm the sale, and wait for payment.
4. Once you receive the money, release the USDT to the buyer.

Remember to only transact with trusted buyers, and double-check all details before confirming any transactions.

Almost anyone can sell their Pi, as long as certain measures remain in place:

You can sell your Pi if your tokens have been successfully migrated to the mainnet. You also need conto complete your KYC requirements for verification.

On the other hand, you cannot sell your Pi yet if it is still within the enclosed mainnet and if you haven’t completed your KYC verification yet.

What To Keep In Mind Before Selling?

Before you sell your Pi coin, there are certain things to keep in mind.

The first of these is market volatility. The price of the cryptocurrency might fluctuate due to supply-demand dynamics, so make sure to monitor the market to sell at a great price.

Another factor to keep in mind is the trading fees. Crypto exchanges often charge transaction fees, so make sure that the exchange you choose has a fee structure that works for you.

You should also keep security in mind. The interest in Pi is now at an all-time high, which means that scams are on the rise. Only use official channels to buy or sell Pi.

Finally, keep tax implications in mind before buying or selling. Many countries have tax requirements for transacting with crypto. As such, you should maintain records of your trades and check local tax regulations before proceeding.

Beware of Pi Coin Scams

Pi is gaining popularity, and scams are becoming more common. Luckily, there are certain red flags to watch out for.

The first of these come from fake websites and phishing attacks. Avoid entering your wallet information on unofficial websites. Make sure to always check things like URLs for authenticity.

Scammers often try to impersonate Pi Network officials and can send you unsolicited messages. Only trust information from the Pi Network’s official channels.

There will also be an influx of fake Pi coins on the market.

Make sure that the one you choose to buy is the official one, on a verified exchange.

Finally, never share your wallet’s seed phrase with anyone, under any circumstances.

Remember to always be on high alert, use trusted exchanges, beware of scams, and stay informed.