How to Sell Pi Coin in 2024: The Ultimate Guide

Key Takeaways

• Currently, you can’t trade Pi Coins on crypto exchanges like you would trade Bitcoin or Ethereum. But it doesn’t mean you can’t sell your Pi tokens at all!
• You can sell Pi Coins through P2P trading or as IOU contracts. You can also use Pi Coin to purchase goods or services. 

Pi is a crypto project enabling you to mine Pi Coins for free from your mobile device. Due to this accessibility, many users, potentially thousands or millions, have mined huge amounts of Pi Coins and are now looking to sell their assets.

With decades of experience in crypto, we know the ins and outs of trading virtual currencies. In this guide, you’ll find four proven ways of selling Pi Coin while it still hasn’t hit major exchanges.

How to Sell Pi Coin?

You can sell your Pi Coins to buyers through peer-to-peer trading or as IOUs. Or, consider direct spending of Pi Coin at Pi-accepting merchants.

Since the project is still in the enclosed network phase, the mainnet hasn’t yet been linked with any exchange, nor is the token listed. Thus, you can’t trade Pi Coin on exchanges like Binance, Coinbase, or similar platforms for other cryptocurrencies.

Now, let’s delve into available ways to sell Pi Coins.

1. Sell Pi Coins through Peer-to-Peer Trading

If you research crypto communities or social media, you’ll find traders looking to buy Pi Coin. Their demand and your offering create opportunities for peer-to-peer trading (P2P). This is the oldest way to sell and trade your cryptocurrency. 

With P2P trading, you decide how much you want for your Pi Coins, and buyers decide if that is a fair value. Since the Pi Network isn’t tradeable everywhere, few price pointers exist. So, prices can go from as low as $0.01 to as high as $100 per coin.

You can choose between the two peer-to-peer methods:

• Online P2P transactions: With online P2P trading, you seek buyers on social media platforms, forums, and online classifieds. Once you find one, you send your Pi Coins to the buyer’s address, and the buyer transfers money to you (say, to your PayPal account or bank account).
• Offline P2P transactions: Offline peer-to-peer transactions involve face-to-face meetings with buyers. During the meeting, you transfer your crypto to the buyer’s address, and the buyer pays you upon receipt.

Based on our experience, online P2P trading carries inherent risks of scams. So be aware that scammers may trick you into sending Pi coins without paying. Gather information about potential buyers before doing the deal. In-person meetings are less prone to scams and should be held in areas with security cameras. 

2. Trading Pi Coin IOUs

IOU, short for “I Owe You,” is a debt agreement between the two parties. It’s a kind of informal promise to repay something owed. In the context of Pi Coin, an IOU is a future claim to Pi Coins rather than actual ownership.

Suppose you’re owed a certain amount of Pi Coins for the amount sold. You get an IOU token as proof of that debt. When the Pi Network’s mainnet is live, you can trade Pi Coin IOUs for the real Pi Coins.

While IOUs aren’t actual Pi Coins, using them can give you a hint at the token’s potential value. Look at the price charts for Pi Coin IOUs on Bitmart, HTX, and other supported exchanges. Anticipation of the mainnet launch drives Pi Coin’s price up, while delays result in a price decline.

3. Using Pi Coin for Payment

Don’t want to sell Pi Coins through P2P and IOUs trading? How about spending Pi Coins directly on products or services? Although this crypto is not as widespread as Bitcoin or Ethereum, some merchants accept it.

What items have Pi Coin holders ever bought, you ask? There were cases of buying in-game assets, silver items, and larger purchases like vehicles.

4. Waiting for the Pi Coin Listing

Still not impressed with the options we’ve covered? Then, waiting for the official open mainnet launch could be a safer bet. Once it happens, Pi Coin will become tradable, just like traditional cryptocurrencies.

Unlike P2P trading, selling Pi coins on cryptocurrency exchanges doesn’t involve inherent risks. Here, you won’t face scams or receive poor seller rates.

What is Pi Coin?

Pi Coin is a native digital currency within the Pi Network. This project stands out with accessible mining available through mobile devices. You can start mining Pi Coins in just a few taps without draining your battery.

Pi Network features the MLM structure, with new users joining through referrals. For each member recruited, you can earn extra Pi Coins.  

Pi Coin’s appeal lies in its user-friendly mining process and incentives for network participants. Users can boost their hourly mining rates by inviting new members or expanding their security circles. An enhanced hourly rate enables users to mine more Pi Coins per hour.

Where Can I Buy Pi Coin?

Now, what about buying Pi Coins? Just like with selling Pi Coins, you can try P2P trading or swapping IOUs.

Don’t feel like making monetary investments? Consider mining Pi Coins! To start mining, you’ll need an invitation from a network member and the Pi Network app for iOS or Android.

Can I Sell Pi Coin on Exchanges?

At the time of writing, selling Pi Coins through any cryptocurrency exchange is impossible. You’ll most likely have to wait until the project moves on to the open network phase. 

What about the Pi/USD pair trading on HTX and Bitmart? You only see Pi Coin IOUs there, the concept we discussed earlier in this guide.