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Is PI Coin Is Legit or Scam: Should You Trust PI Coin?

by Aamir Kamal 11 months ago in cryptocurrency

PI Coin review: Is PI Coin a scam or a legit website? Is PI Coin legit or a scam?

Is PI Coin Is Legit or Scam: Should You Trust PI Coin?
Photo by Jonathan Brinkhorst on Unsplash

“I am sending you 1π! Pi is a new digital currency developed by Stanford Ph.D.’s, with over 3.5 million members worldwide……….”

What is Pi?

Pi is a new cryptocurrency for human beings that you can “mine” (or earn) from your phone. Cryptocurrencies are an innovative form of digital money that the community continues to maintain and protects, rather than governments or banks. Today, you can mine (or earn) Pi by helping to protect the currency and increasing Pi's trustworthy network. While most cryptocurrencies (like Bitcoin) have been very difficult for everyday people to use and access, Pi puts the power of cryptocurrency in the palm of his hand.

Pi Coins Users

There are currently more than 10 million users (miners) earning Pi coins on their mobile phones without and investment, free of privacy infringement, and close to zero CPU, storage & battery consumption.

Pi coins/tokens are supposed to have valuable, real-life numerical worth in the coming years.

Is Pi Legit Or A Scam?

When I first did hear about Pi, I thought it was a kind of privacy scam. I obviously didn't understand that. It seemed like another app I was never going to use. It was a waste of time, cell data, and battery life, I thought. I didn't participate as a result. But a few months later, I saw my friends earning a PI coin, and I was shocked at that time because I even lost a great opportunity. I asked my friend for an invitation code to join and mine because you can't join without a code.

If I started mining Pi the first time when I heard about it, I'd have a lot more Pi coins as it is now today. Simply it’s not a scam, it's legit obviously because I am mining PI. But another important question is how to mine.

How Do I Earn (Mine) Pi For Free?

Step 1: Get invited to join Pi. (Consider this your invitation).

Step 2: On the Play Store for Android or the iOS store for Apple, download the official 'Pi Network' version.

Step 3: Go through the prompts for setup and use the invitation code.

Step 4: Confirm your phone number so that you don't lose your earned Pi coins.

Why It’s Not a SCAM?

There are questions about the PI network program's legitimacy, a few clues will make us believe it's legitimate.

  • The first point that makes one trust that the PI network may just be a scam is the ads. On PI, though, advertisements can quickly be removed by simply heading to 'Menu' > 'Profile' and then removing the ads. It then notes that the extensions are only there to pay for servers and maintenance.
  • The second point is that the IP network uses our information to sell to third parties. From the beginning, Pi Network has been very cautious that the individual’s people must have only one account. Despite their safety circle scheme for which, for example, you have to know the people you invite.

The company that PI Network Use

Pi Network uses the company Yoti for KYC (Know Your Customer) operation, and Yoti is an external company specializing in identity verification. If you go to their website, you can see that they charge 1$ per 1 ID. And that’s the reason to realize someone that why PI network is showing ads to pay for this.

Yoti also explains on their website that the details and identity are secured so that PI Network can never have access to it. If PI Network was just a scam, I don't think they'd use a third party like Yoti, which asks for money. Also, Pi Network will never ask for money or offer to give you something that will certainly be a warning sign. Pi Network is a really long-term project, and I think they're just trying to create a clearer framework than BITcoin, which doesn't lead to huge mining computer needs.

Does Mining Pi steal My Privacy, CPU, Data Usage, and/or Battery Life?

Mining Pi requires almost zero CPU power, data, or battery life. Pi does not violate your privacy in any way. In reality, that's one of the reasons why the "Pi Network" is so popular and growing so fast.

Do I Need To Spend Any Money To Earn Pi?

No, you don’t need to spend a penny at the start for a limited time, if you have a smartphone you can mine from your phone for free, just by downloading the official PI application from the play store.

There is no risk, no credit card, no obligations Nothing.

You can also read: Will PI coin cross 5$ in 2025? The Expected Value of PI Coin In Future

How does Pi Network work?

Login every day and press the Digital Currency button. There is no evidence of the work being completed, just log in and press a button. This currency is not traded yet because it does not have any value at all.

The second thing users do is try to level up by inviting more users to this PI Network Site. Inviting other users can also provide you with more and more currency every day. This is a common model in Multilevel marketing and Pyramid Schemes.

How Is Pi Valuable? How Much Is It Worth?

It's useful the same way as Bitcoin is valuable, but in a more personal and realistic way that requires more individuals and fewer computing machines.

Bitcoin is innovative because it is a decentralized network, whereas organizations like Facebook are able to monitor private information and data because it is a centralized network. Bitcoin is a decentralized network of CPUs.

Pi is a decentralized, validated human and machine network... really strong.

As a result, Pi has the potential to have more impact in the future when there are massive populations of people involved.

PI value in Future

Pi tokens can be purchased and sold on the market, and ultimately they won't be able to be mined for free the way they should be.

Some speculate that Pi would be one of the world's largest cryptocurrencies until the widespread implementation of blockchain technologies has taken place. At its current developmental level, some experts believe 1 Pi = $1.00-$5.00 USD.

Also read: PI Network Cryptocurrency: Expected Value, How To Invest And Make Money

I hope this helps.

cryptocurrency

Aamir Kamal

#Howto articles #Guides and helpful content for readers. I love writing on Vocal. We publish content about diverse topics. https://www.aamirokamal.com

Business inquiries: [email protected]

or Twitter: https://twitter.com/@_aamirkamal

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