The concept of money has changed more drastically in the last few decades than it has over centuries. We are now witnessing the rise of digital money, which is a stable cryptocurrency. Many people invest in it and have been quite successful. It still has a long way to go as a new concept, but it still looks quite promising.
Earlier, Bitcoin used to be the only safe cryptocurrency, but that isn’t the case anymore, as more of them have developed. Pi Coin is one such cryptocurrency that’s new right now but seems promising. You might want to consider investing in it. So, keep reading for some essential information that you need to get accustomed to before taking that step.
How does the Pi Network function?
As far as ease of use is concerned, you’ll find Pi to be very simple and easy. It won’t take much time for you to learn how it functions. Moreover, it is available to everyone, so you can use it too. For that, you need to download its mobile app first, which is named Pi Network. Specifically, you can find it for mobile — on both Android and iOS devices.
After you sign up for the network, you can proceed with earning coins right away. All you need to do is click the button to start mining Pi coins. Also, you have to sign in to the application at least once each day. The developers also keep in mind the security aspect. So, you’ll need to verify that you’re not a robot every time you sign into it.
Apart from using it yourself, you can also invite other people such as your friends to join it. After all, that will also increase your earnings. Also, you can mine the Pi coins without keeping the app open. So, it won’t drain your device’s battery, unlike some other cryptocurrencies which run on Blockchain Technology. Apart from that, it also doesn’t use any background data.
Is it Real?
Most people who hear about Pi Network might wonder whether it’s real or not. After all, there are enough reasons for being cautious when dealing with these matters. In case you have the same question, you must know that Pi Network is entirely genuine. It is an honest attempt at creating a stable cryptocurrency that aims to be more valuable than others.
Moreover, you can see for yourself how promising it is once you try it out. But, that’s up to you whether you want to get into it. Also, you have to make some considerations before taking that step.
How do you Earn Pi Coins?
Right now, the only way to earn on Pi Network is by contributing more to it. After all, it’s not fully developed and needs your help for that. So, for now, you just need to join and use the button given in the app to start mining coins. Then, you’ll start earning Pi coins at a certain rate.
Want to increase your earnings on the app?
For that, you need to get more members to join. Not only that, but you must invite trusted people only for the sake of the network’s security. The more members you bring, the higher the rate of your daily earnings will go. So, apart from increasing your earnings, it also contributes to the secure growth of the network.
On what basis does the Earning Rate increase?
To increase the earning rate, you need to level up in the network. In case you’re wondering, there are four roles that you can play right now. Moreover, you can play multiple of them at the same time.
The earning rate in Pi Network is determined on an hourly basis. In the beginning, after you join, you get the Pioneer role. In this, you can earn 0.2 Pi per hour. After that, it can increase up to 25% whenever a new member joins.
You have to remain at the Pioneer role for three days. Thereafter, you can level up to Contributor and vouch for other users whom you trust. This will increase the rate but to a considerably small amount. The next level is called Ambassador, in which you have to add new members.
Finally, the highest role as of now is the Node. You need a PC and can’t continue using the app on your phone to play this one. Also, this role adds further to your earning rates.
2. Number of members in the security circle
You must add members if you want to increase earnings. For that, you need to get to the Ambassador role first. After that, you can send invites to trusted people. Each new member who joins your circle adds 25% to your daily earnings. So, the higher you want to earn, the bigger the network you must build.
What are the Pros that Pi Network offers?
In case you’re looking for the positive aspects, it has plenty of benefits to offer you. Here are some of the most important ones:
1. Higher accessibility
Without any doubt, Pi is more accessible to common users than other types of safe cryptocurrency. That surely is a good reason to get into it.
This network has a unique (as of now) security-circle system. It makes sure that all the members are trusted and vouched for. So, it can keep away scammers and fraudsters.
3. Doesn’t cause a power drain
For other types of crypto assets, you need to keep dedicated power for your device. But, that’s not the case with Pi Network. It can keep mining coins in the background without affecting your device’s performance.
4. Better for the environment
By avoiding power drains, indirectly protects the environment from any further harm. In today’s day and age, this is an important reason to get into Pi coins.
Should you get into the Pi Network?
The main fact that makes you hesitate in investing in this cryptocurrency is that it’s still developing. Pi coins have no value right now. But, from what it seems, they can become a part of global finance with great value in the future. In the end, it’s still up to you whether you want to invest in it.