Picoin is another growing cryptocurrency available over the internet. this newest digital coin grab the attention of cryptocurrency community from past few days. Now investors seems very excited to invest for the future profit as the bitcoin investors have gain massive profit by holding and mining the coins. However some stating Pi coins worthless.
How Pi network works?
A team of Stanford graduates has developed pi network based on number pi the first phase of this project was launched in 2019. From 2019 to 2021 pi network reached over 14 million users while started from just 100000 users.
As we all know cryptocurrency is fully digital or virtual currency which used in currency exchange. It is secured by strong cryptography, cryptography is highly secured data encryption technique that the only intended person can access.
cryptography is the main reason which is why your transaction are most secure over the virtual currency.
pi is block-chain technology based on stellar platform.
Stellar is a open source code to transfer the digital currency to fiat money across the world. Just like another cryptocurrencies pi is also use fully computerised database to store the coin ownership record and make secure transactions. All the work and transaction receipt are handled over the internet without any Physical forms which also not issued by the government.
Pi currently carries 0 value and it is not tradable exchange. Unlike bitcoin you can mine your pi on your phone.
To start mining with Picoin on phone you will need to download pi app named as “Pi Network”. This app allows user to earn Pi by making contributions to Pi’s community. Pi developers stated this Pi app does not affect phone’s performance like battery draining problems. The more contribute, the more Pi user can earn. Contribute in Pi community means rising Pi’s community by adding trusted members inn community as an ambassador or contributor.
Ambassador role is he can earn up to 25% for each person he he invite in network. And contributor Will earn more Pi by building security circle of 3-5 trusted members.
When Pi holders purchases goods and services on Pi’s marketplaces or exchange earned Pi for fiat currency only then they will be able to turn Pi coin in real money neither holder will withdraw the pi coin
Is Pi community trustworthy?
Always think about every coin has two sides, if you are not that risk taker person then its all time good to wait for beta release let pi prove its originality about products. Its good for waiting pi to mature. pi app is made of with lots of features and ease for pioneers.
But don’t think Pi is worth nothing just keep in mind when jump to 10 years back bitcoin was just launched some investors stated its worthless and what now?… see just 1 bitcoin value today.
You no need to have shell out some extra money for purchasing hardware for Pi. You just need a mobile phone to mine. although, Bitcoin do requires some investment in hardware to mine the coin successfully.