Digital currency like Bitcoin is well known to everyone and everyone wants to mine it.But it requires lots of money,strategies and lot of attention in mining it,not all people are able to use Bitcoin. That is where “PI Network” kicks in.It was founded by Stanford phd holders Dr. Nicolas Kokkalis,Dr. Chengdiao Fan and Vincent McPhillip with a common aim to revolutionize cryptocurrency.
It is the first digital currency that you can mine on your phone without any prior knowledge to mining.It is a simple free application that is available on Google play store and Apple App Store.You can simply download the application and start mining with 0$ investment.The founder said,”We cannot guarantee that the project will succeed. However,we do promise to work our hardest to make our shared dreams a reality,while maintaining the highest standard of integrity.”
How does PI networking works?
PI is a long term based money making process which works by the process called network mining.For the working of PI,lets first understand its phases,it is classified into three phases.Phase 1 was meant to spread networking across the world about PI currency.In this phase,people send invite to their friends and families and the process keeps repeating like a pyramid.Phase 2 was meant to analyze the interest of people and how effectively one can mine in it.Currently we are running on the phase 2 of Pi Networking and when the number of user reaches to 5 million,it is said to advance to next phase.Phase 3 is expected to be a working phase where one can exchange PI money with real money and do real life transactions in PI marketplace.
How do i earn?
Once you download the app,you will need an invite code to get inside,as for reference you can type devashis6969 to get access to the app.Once entered,to start earning Pi, check in every 24 hours and hit the lightning button to start mining. Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network. Keep in mind, earlier members of the network mine at a higher rate than those that come after them.You can earn more and more depending on how vast you create your network.
How much is a PI worth?
As mentioned on their website,”Today Pi is worth approximately 0 dollars / euro etc. similar to Bitcoin in 2008. Pi’s value will be backed by the time, attention, goods, and services offered by other members of the network.” Currently,it holds no value and has no importance in real life compared to money,or cryptocurrencies. But based on people’s interest in PI and its strategic implementation,it seems to do wonders in future.
Back in 2010,Bitcoin was worth nothing and people thought that it will have no future,but irrespective of what people thought,now a single bitcoin is worth $9000.Bitcoin was a big risk back then when it started.Unlikely PI network is risk free at the present time.What differentiate it from Bitcoin is that you have nothing to lose here as no investment is made here in PI.You just simply open the app once a day and if possible invite your friends for increasing your circle and earning more.It neither drains your battery nor steals your data.As a rough calculation,you earn
*0.25 pi/hr ×24 hrs= 6 pi per day
*1$=268 pi (rough estimation)
*268 Pi÷ 6 pi/day =44 days of 24 hrs mining gives A dollar.
That means,considering current value of PI,you earn $8.2 dollars per year.But this value keeps fluctuating just like value real money or other cryptocurrencies so there is a positive chance as well to earn more.
How does the company earns by providing you PI currency for free?
Currently,there is no way the company earns money in a way to consider it a business. But in coming days,you can expect it to earn money by exchanging PI coins with its consumers. Pi owners are in full control of the coins so they can easily create any amount of coins that they want and sell it to consumers once it start getting into limelight.As for example,you buy in-game tokens for any game with real money which grants you certain services and upper hand in the game.Similarly,you can buy services from PI marketplace once everyone start accepting and using it.
Should you try PI networking?
Trying something new is always a challenging and confusing matter. It can hit the sky like bitcoin or can diminish overnight.The good news is the risk here is worth taking and loss-free.You cannot simply lose anything just by inviting friends and opening an app once a day.It may hit the market or may not hit the market,that time will tell.But definitely,you should give it a try.Here are some of the benefits of Pi cryptocurrency:
- It is free.
- No time consuming at all.
- No work required.
- Easily accessible by everyone of every age.
- It doesn’t drain battery or take away your precious data.
- It might be the next big thing like Bitcoin.