Cryptocurrency has become a significant buzzword that is accelerating the narrative of the decentralized finance (DeFi) space. But as people are familiar with popular crypto assets like Bitcoin and Ethereum, other ones are attracting crypto traders due to their potential for a moon shot. One such cryptocurrency is Pi coin, so you may want to know how much is 1 Pi in naira if you are interested in trading it.
We can not overemphasize the enthusiasm surrounding crypto trading – which is considered one of the best ways to make money online in Nigeria.
As such, people continuously explore their most viable crypto options, which largely borders on buying low and selling high.
Therefore, Pi coin is one crypto asset rising in value even when it is yet to be available for trade on major exchanges. But you may want to invest in this coin after knowing its value in naira.
What Is Pi Network?
The Pi Network is a new digital currency initiative focusing on top crypto standards.
Unlike popular cryptocurrencies such as Bitcoin and Ethereum, which are increasingly centralized, the Pi Network was designed to be widely accessible to all users. A group of Stanford students runs the network.
Launched in 2019, Pi has had a significant growth hitherto. Pi Network appears to have accomplished some feats similar to other cryptocurrency projects. This is by attracting regular users.
Pi has an environmentally friendly mobile app where you can mine the coin without draining your phone’s battery. This is in contrast to other mining apps.
You must open the app at least once every 24 hours, tap the lightning button, and then start mining the Pi coin. There are numerous ways to speed up mining.
If you sign up early, you can earn higher rates. You can earn a 25% bonus on the Pi app when you bring more reliable users.
You can increase your earnings and the security of the Pi in three days by inviting 3 to 5 people to join your trusted circle as a contributor after starting to mine Pi.
The Pi Network is currently going through the transition from Testnet to Mainnet.
When the changeover is complete, the Pi coin will be put up for sale to the general public. Both ICOs and crowdfunding are not available on the Pi Network.
Therefore, users who want to join the Pi Network can get the app from the Apple App Store or Google Play Store and begin mining immediately.
Pi Coin Price History
At the time of writing this article, the price of Pi is $40.16, and it ranked 2548th in the crypto space, with a market cap of $0. Its value increased by 2.46% in the last 24 hours.
As of the time of writing, Pi is struggling to gain traction among other cryptocurrencies. The price of the Pi token has dropped nearly 12.47% in the last seven days. But while this asset has a vibrant beginning, it is unlikely to be a profitable short-term investment.
However, the comparison of the current price of the token to its previous 30 days shows a 90.79% increase in Pi coins. This suggests Pi could be an excellent long-term addition to your coin portfolio.
Meanwhile, there is a divergent view on Pi network price prediction. This is due to different experts’ opinions on how Pi token will thrive.
For instance, the Reddit Community predicts a long haul for Pi, where the token is estimated to rally to $50 by the end of 2023.
How Much Is 1 Pi In Naira?
When writing this article, 1 Pi traded 29,648 naira. But, it should be noted that Pi is volatile, just like other cryptocurrencies.
This largely depends on the demand for Pi coins and the global crypto market outlook.
How To Buy Pi Coin
Pi Coin is still in its testing phase, meaning you can not buy it asset currently. But you can mine it.
Step 1: Download The Pi Network App
Buying Pi coins from any third-party exchange platform is not advisable, even though it has been listed on several platforms.
But you can create a Pi coin when you download the Pi Network app on the Google Play Store and Apple Store.
Step 2: Create An Account
You must create an account after downloading the mobile app. Information like a username, password, and phone number or email address are needed to set up an account.
Step 3: Start Mining The Coin
A Lightning button appears after creating an account. You can then click on it to start mining the Pi coin.
Step 4: Continue Mining
You must check the app and click the Lightning button every 24 hours to continue mining. A successful launch of the Mainnet Phase (3rd phase) is required before the coin can be traded or sold.
Frequently Asked Questions (FAQs)
How Much Is 1 Pi Coin Today?
Pi coin trades at $41.80, equivalent to about 31,000 naira in Nigeria.
Is Pi Coin In The Market?
The pi coin is in its “net phase,” which is currently offline and unavailable on any trading platform. But it is expected to be available on crypto platforms when it enters its “patient phase.”
Where Can I Sell My Pi Coin In Nigeria?
Pi is not yet available on popular exchanges as it has been forbidden to trade on platforms like Binance, Coinbase, Huobi, etc.
However, platforms like Huobi and XT.com are considering listing the coin on their respective platforms.
Can Pi Be Used To Buy Things?
Currently, you can not buy anything with Pi coins. Crypto enthusiasts can mine the currency on the app and hold to it until it goes public on exchanges.
How Does Pi Mining Work?
You can mine Pi tokens by downloading the Pi Network app on the Google Play Store or Apple Store. Then, you will need to create an account to start mining Pi.
The pi coin is an emerging crypto asset that may hit the moon shot in the future. This is due to its high price at the current stage, which is evident in the coin’s price in naira today.
But while this asset may begin to attract crypto traders and investors, it is essential to know that Pi coin is yet to be listed on any exchange. You can mine the coin on its app if interested in trading the asset.