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What is the 1 Pi Coin Value in India Today?
As the interest in the Indian community in Pi mining has increased substantially, traders want to keep themselves updated with the current 1 Pi Coin Value in India. The country has a huge community of crypto traders. They want to make a buy or sell decision-based on the price rise or fall. You can track live Pi to INR prices here:
Live 1 Pi Coin Value in India Today is:
The current 1 Pi Coin Value (IOU value) is:
1 Pi Coin = Loading… INR
Pi Coin Market Statistics
The Pi coin market statistics are:
Pi to INR Price Converter
In this converter, enter the number of Pi coins and convert their equivalent value in INR and other currencies.
Other Tidbits About Pi Coin That You Should Know
What is Pi Coin?
The Pi coin has garnered the attention of a huge number of crypto enthusiasts. It is the native token of the Pi Network, which is a decentralized platform providing mining of the Pi tokens directly on smartphones. The network allows the minting of the Pi tokens on users’ mobile devices without consuming excessive battery and does not require expensive GPUs or ASICs that are generally used for Bitcoin mining. Also, mining is free of cost.
How to Sell Pi Coin in India?
Pi Network’s official website states that the network is still in the “Enclosed Mainnet” phase, which means that you cannot transfer or trade a Pi coin officially on any exchange. The team is still moving mined Pi from the Testnet to the Mainnet.
Until the Mainnet launch, there are restrictions on transfers. Pi team has even warned its users against trading on unofficial exchanges like Bitget, XT.com, and Huobi.
The team has also stated that despite the warning, some exchanges have still listed Pi coin for trading as the “I Owe You” (IOU) version, which is not the real Pi.
This is what Bitget and other exchanges have done: they have created a synthetic version of Pi; users can buy, sell, and trade Pi IOUs but they will not be able to withdraw these to their wallets.
When PI is officially launched, i.e. when “Open Mainnet” phase is complete, these exchanges will try to convert these IOU versions to the real Pi, but there is no guarantee for this. This may lead to a loss of your Pi tokens for those who try to buy or sell PI on these platforms. Also, the Pi core team has not yet partnered with any of the exchanges you see on CoinMarketCap or CoinGecko.
Pi will be listed officially on major exchanges like Binance or Coinbase only after the Open Mainnet launch. Post this launch, traders from India and elsewhere would NOT be able to sell Pi coins in India and elsewhere.
Once the Mainnet launch is successful, keep on tracking the exchanges on which it gets launched. Once that is done, you can transfer your Pi coins from your wallet to an exchange and convert them into USDT. Then, you can use an Indian exchange like CoinDCX to convert USDT to INR and then to your bank account.
Check if You Can Sell Pi Coin in India
Open your Pi Browser app and open your Pi Wallet.
Check your available balance (i.e. the number of unlocked Pi coins)
If you do not see an option to withdraw, it means, your Pi coins are restricted from the transfer till the Mainnet launch.
How to Buy Pi Coin in India?
For the same reasons listed above, to buy Pi coins in India, you need to wait until their Mainnet launch is complete. A few traders might be tempted to buy Pi tokens via P2P via Telegram, WhatsApp, and Facebook groups. But this is not recommended at all. Even if you find a trusted seller in these groups, you can’t be sure that you are buying the real Pi coin or just its IOU.
Is the Pi Coin Listed on Centralized Exchanges?
Caution: Please keep in mind that Pi coin has NOT been listed officially on any exchange yet. Still, you will see them listed on the following centralized exchanges in the form of IOUs, which are not real Pi coins, as we mentioned above.
Please pay caution before making a buy and sell over these exchanges as many of these IOUs could be fake. Pi Coin in the form of IOU (not the real Pi) is currently listed on the following exchanges:
- Gate.io
- BitGet
- OKX
- MEXC
- LBank
- CoinW
- Pionex
- Hotcoin
- Tapbit
As per CoinMarketCap data, Gate.io has the highest 24-hour volume, followed by Bitget and OKX. The most common trading pair on these exchanges is PI/USDT. On the OKX exchange, in addition, PI/USD and PI/EUR, Pi/BRL, and PI/Try trading pairs are also available.
It is still not listed on Decentralized exchanges (DEXs) in the form of IOUs or any other form.
There are several other centralized exchanges also where Pi crypto is listed as an IOU but trading Pi could even be more risky than the above listed exchanges. This is because these exchanges have not even published their Proof of Reserve records publically. These include DigiFinex, TNNS PROX, SpireX, ZKE, Onus Pro, Coinup.io, AscendEX (BitMax), XBO.com, Giottus, and CEX.io.
The lack of reserve data on these exchanges increases the risk of insolvency and fraud to a great extent and makes trading of these IOUs even more riskier than other exchanges listed above. You may see a lot of volume on these exchanges without proof of reserves but these might be inflated numbers.
Many of the above exchanges may also suspend withdrawals suddenly and your funds might stuck. Therefore, even before you buy this crypto from unofficially listed exchanges, know about the availability or unavailability of their Proof of Reserves beforehand.
When will Pi coin launch on Binance?
There is no fixed date for this launch. Binance had launched a community vote on whether it should list Pi coins. Most of the participants voted in favor of the listing. But Binace still did not list it.
According to its official website, to be launched on Binance, a project must be on the BNB Smart Chain Network. But Pi has its own Pi Network, which makes it ineligible for the listing. But everything is not lost. Binance is an exchange with high volume, good reputation, high community participation, and a truly decentralized nature; the chances of Pi coin being listed on Binance are, therefore, high.
Conclusion
Keep on tracking the 1 Pi coin value on this page and use the Pi to INR price converter. Be wary before doing any type of trading with crypto before it is officially listed on any exchanges in India or elsewhere.
FAQs
Is the Pi coin listed on any exchanges?
No, the official Pi coin is not listed on any of the exchanges; a few exchanges have listed only the IOUs of the coin, which are not the real PI coins.
What is Pi coin IOU?
It stands for “I Owe You”. It is either a futures contract or a speculative token that represents the future value of the Pi coin on an exchange. It does not represent the real Pi coin.
How to sell Pi coin in India?
Once Pi Network Open Mainnet is launched, you will be able to sell your Pi coin on any exchanges on which it gets listed. Then, you can sell it like any other cryptocurrency: convert it into USDT and then use an Indian exchange to convert it to INR.
When will Pi coin launch on Binance?
There is no fixed date for the Pi coin launch on Binance as the coin is still in its “Enclosed Mainnet” phase.
How to buy Pi coin?
You cannot buy Pi as it is not officially listed on any exchange, You can still mine it on your smartphone and if you have completed your KYC, you can use these mined Pi coins within its ecosystem.
Disclaimer
This article is for informational purposes only and is NOT a financial advice. We do not promote, in any form, any cryptocurrencies or tokens mentioned herein. The content of this article is based on the information available up to the knowledge. You should be aware that investing in any cryptocurrency is subject to market risk and you MUST do your own due diligence (DYOR) before you put any money in any of the coins.
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