How to sell Pi Coin in 2024?
Recently, within the Pi Network community, several pressing questions have emerged, such as:- Where can I trade my Pi coins?
- How can I transfer Pi coins to mainnet?
- Which cryptocurrency exchanges support Pi Coin?
As avid cryptocurrency enthusiasts, we've decided to tackle these inquiries head-on, offering guidance on navigating Pi Network's regulations for moving your funds to their mainnet.
PI COIN KYC VERIFICATION
Pi Coin's vast community, reportedly over 60 million strong, is embracing KYC verification as part of its transition to the mainnet, enhancing both credibility and user trust.
This move aims to eliminate fake accounts, benefiting genuine users by potentially increasing their rewards.
Additionally, Pi Network is developing Pi Pay, a payment system for its users, emphasizing the necessity of a verified and legitimate user base to foster a thriving ecosystem.
CHECKLIST: SELLING PI COIN
To transfer your verified funds to mainnet you need to complete 9 steps from mainnet checklist.
List of mainnet transfer essentials:
- 1. Download your Pi Browser app
- 2. Create a Pi Wallet
- 3. Confirm your Pi Wallet
- 4. Commit to lockup configuration
- 5. Secure your account
- 6. Submit your KYC Application
- 7. Wait for KYC Results
- 8. Sign acknowledgement To receive tokens
- 9. Migrate to Mainnet
These steps are designed to be straightforward and are thoroughly detailed. Our goal will be to provide you with tips and address any potential challenges you might encounter during this process.
1. Download your Pi Browser App
This step is straightforward and simple. You have to download the Pi Browser App from the iOS App Store/Google Play Store.
2. Create a Pi Wallet
When you create your Pi wallet, you will be given 24 word phrases and the opportunity to record your fingerprint for quicker access because any attempt to open the wallet will prompt you to write 24 phrases or just unlock the wallet with your fingerprint.Keep in mind that if you lose the 24 phrases assigned to you at wallet creation, there is no way to retrieve your account.
Make sure those 24 phrases are safely stored.
- How to recover Pi Wallet 24 phrases?
If you've already completed all nine steps and received confirmation that your pi has been transferred to mainnet. And if you forget your 24 words after that, there is no way to retrieve your pi.
However, there is good news for individuals who opened a wallet and forgot their passwords but did not have their pi coins transferred to mainnet because the 9 steps were not yet completed.
In that case, you can just request a new wallet creation without losing any pi from your mobile app.
Write down and save your 24 words somewhere safe.
- Can Pi Network help me recover my passphrase?
Should I trust other people on the internet who claim to help me solve this problem?
The answer to this question is always NO.
3. Confirm your Pi Wallet
Simply enter your 24 phrases, and your wallet will be confirmed.Make sure you don't misspell any of the words. Never give your passphrase to anyone other than the Pi Network's app.
4. Commit to lock-up configuration
Here, it is mandatory to lock up your transferable (verified) balance.
The minimum is 25% of your balance for 2 weeks, and the maximum is 200% for 3 years.
The more you commit to the network, the higher the reward you will get in terms of return on your locked coins.
While locked-up Pi will be transferred to your mainnet wallet, the locked-up Pi will not be transferable on the blockchain until the lockup duration.
The lock-up duration countdown will begin after the transfer to the mainnet has been completed, including any pending periods.
- How many pi coins should I lockup?
Choosing a longer lock-up for your mined Pi could lead to larger rewards, banking on future value increases.
However, this comes with the risk of market saturation when Pi becomes publicly tradable, potentially reducing per-unit value.
If immediate access to funds is more appealing, a shorter lock-up period would be beneficial because it would allow for quicker conversion of Pi into cash through exchanges or direct sales soon after it becomes possible.
5. Secure your Pi wallet account
Verify your Pi Account by either confirming your phone number or linking your Facebook account.6. Submit your KYC Application
Navigating the KYC process on the Pi Network is straightforward.- How to ensure fast Pi network KYC verification?
Here's a tip: Always hold your phone at face height during the photo capture, closely follow all given instructions, and when photographing your ID, avoid glare and ensure its corners aren't cropped. These steps significantly improve the chances of passing the KYC check almost instantly.
- Is it safe providing your documents to Pi Network?
It is pretty safe, robust networks like Pi have great security measures and provide more info on how your data is stored in ToS and Privacy Policy on their website.
7. Wait for KYC Results
Wondering how long does it take for KYC to complete?It depends on the quality of photos you have provided and from which state you are, Pi relies heavily on its validators (real humans who volunteer to validate data along with algorithms).
So if your country doesn’t have many validators, it will cause longer wait periods.
8. Sign Acknowledgment To receive tokens
Read it carefully. You have to agree in order to proceed further.
9. Migrate to Mainnet
After completing the eight steps, the final stage occurs automatically, transferring all verified coins within a week as of 2024.
The wait time period as of 2024 is less than a week.
- How do you unlock and transfer unverified Pi to the mainnet?
This one is simple and easy, your unverified Pi is the Pi you have earned from your peers.
So all you have to do is encourage them to go through the KYC process.
WHERE TO SELL PI COINS?
Wondering, how and where to sell Pi Coins?
According to Pi Network’s documentation, exchanging Pi Coin for crypto or cash is not allowed yet.
There are two established and well trusted exchanges that have listed Pi but they do not accept any deposits or withdrawals yet.
WHICH CRYPTO EXCHANGE ACCEPTS PI COIN?
So far, only two cryptocurrency exchanges have listed Pi Coin, but not cleared it for trading yet.
These are:
- Huobi exchange >>
- BitMart exchange >>
It's uncertain which platform will first list Pi for trading, but check out the
General advice is to complete KYC, move funds to the mainnet, and stay prepared.
Additionally, registering on exchanges like Huobi and Bit Mart could be advantageous, as they're rumored to be among the first to offer Pi trading options. Since they already have an IOU program. 
