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What is PI Currency? All About PI Currency; Pros and Cons of PI Cryptocurrency

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Have you ever heard of the enigmatic Pi Currency Network project? It has been a few months since promotions abound online concerning this famous digital currency. It is a shabby crypto platform that offers an investment opportunity. That said, despite this promise, on the web Pi Currency opinions are divergent. Thus, many crypto traders are wondering whether the Pi digital project is reliable or not. In this article, you’ll get to read a Pi Currency review and go over how this crypto mining platform works with pros and cons. This will tell you if this cryptocurrency is worth investment or not.

What is Pi Currency? Who invented value of PI?

Appeared on the financial market in December 2018, Pi Network was co-developed by Dr. Chengdiao, Dr. Nicolas Kokkalis, and Vincent McPhillips. They are three alumni from Stanford University in the USA. Behind this project, they wanted to set up a new virtual currency “ for and by ordinary people, which you can get from your phone ”.

It is indeed a new crypto-asset mining platform on the phone. This active crypto, the developers of the Pi project launched under the name of Pi (PI). Today, not less than 8 million people use the Pi currency app.

Pi is therefore an innovative solution to evade the difficulties and high costs of mining. This is to recognize that Pi currency is less energy-intensive than other projects such as the Crypto tab, which allows you to bring in corn exchange for significant drainage of your computer or phone.

The Pi Currency Project contains a mobile application on iOS and Android which is accessible to everyone. It offers a spontaneous interface that contains useful features such as:

  • The mining system
  • A private chat,
  • A discussion module in English
  • An FAQ.

Pi Digital Currency:

How does it work?

The operation of the Pi network is quite simple. Its promoters have made the task easier by designing dedicated applications available on the App Store and Google Play.

You must first register on the platform. Then, you receive a referral link that allows you to mine the cryptocurrency.

How does Pi mining work?

When asked how to accumulate earnings on Pi Network, you simply have to log in every day and start mining. And your Pi will automatically increase as soon as mining has started.

To do this, you manually launch the mining on your smartphone. To do this, you must open the application and press the light button, as the opposite. That’s all there is to do, you can quit the app as soon as it’s done. You won’t even need to leave the app open or even leave your phone on. Pi currency network will work even if your phone is turned off or in airplane mode.

How it is possible?

Thanks to the importance of the active network (over 8 million users today), there is no need for everyone to be connected at the same time. The fact of using the app even a single minute a day is enough, reported on a large scale, to validate a large number of transactions.

Every time you open the app, you post transactions. So if millions of people are doing the same, you alone don’t need to be online all the time because everyone will do a part of the job. You need to log into the application regularly to benefit from it. Specifically, you have to go once a day, every 24 hours, to press the lightning button.

Pi Currency Earning Through Sponsor/Referral System:

Pi Network operates based on a growing community with a sponsor/referral system. Users are recruited based on trust in each other, to ensure the security of the network. Validations are made through a social network of connections.

To earn as many Pi as possible, you must therefore recruit your relatives or people from your social networks. This is how you will see your mining speed increase. You to register others, for that  you need to join a circle already formed via a sponsorship code. To recruit new users, you can simply share your referrer code on your networks. This implies being active on the networks.

pi-currency-iphone pi-currency-download

Pi Network review:

Do people recommend PI?

To tell the truth, the Pi Currency Value project is not unanimous within the commercial community. User opinions are indeed quite mixed. So let’s see in detail what positively and negatively influences opinions on this project.

What people like about Pi Currency?

In people’s opinion, Pi Currency has undeniably strengths that can explain that already more than 8 million users have signed up. Let’s start with the positive points of this project, which are reflected in the positive opinions of Pi members.

A CRYPTO PLATFORM FOR EVERYONE

Pi Network is an ideal platform for beginner investors.

It is all the more an option accessible to all because it is used on a telephone. Indeed, it is the only tool you will need to mine Pi cryptocurrency which is Pi.

With the Pi Currency app, you can mine cryptocurrency wherever you are, as long as your phone is charged. Also, an internet connection is necessary to launch daily mining.

This is a big difference between mining Pi, the virtual currency linked to Pi Network and Bitcoin mining. The latter indeed requires a very powerful CPU system on his computer and an immense capacity for calculation. It is therefore not as democratized as the Pi is intended to be.

A MORE ECONOMICAL AND ECOLOGICAL DIGITAL CURRENCY

The Pi (PI) being a cryptocurrency that consumes little energy, it is, therefore, an economic and ecological project. In fact, not only does it not require large quantities of electricity but also it avoids the purchase of expensive and polluting equipment for manufacturing and recycling. In this sense, it resembles the Stellar Lumens (XLM) cryptocurrency project.

THE COMMUNITY ASPECT

Finally, some users appreciate the collaborative aspectof this digital currency. It allows participating in the construction of the Pi, by making it secure, by solving certain problems, and by mining currencies. You can also participate alongside your loved ones, something that some appreciate.

What people don’t like about PI

Although Pi has some undeniable strengths, you will certainly find areas for improvement during crypto trading.

JUST ONE MORE TOKEN?

Many see PI as just another “virtual currency” in an already very saturated market. Many cryptocurrencies are emerging but few manage to make a lasting and important place among the greats. This risk of failure is therefore one of the main reasons why many remain reluctant to invest in it.

LIMITED CUSTOMER SERVICE

People are also disappointed with the quality of its customer support. Indeed, there are only a few ways to contact the support team in the event of a problem. The site has no contact section and only offers a form to leave “comments”. It is, however, an essential component of any service and a lack of assistance can be a source of stress and frustration for any user in difficulty.

THE LIMITS OF THE MOBILE PHONE AS A TOOL

As already mentioned, PI mining can only be exploited from a mobile application. Some will see this as a strong point, others as a barrier to entry if they don’t have a compatible phone. It also means that you will not be able to separate your mining tool from your communication tool.

On the other hand, having the application on your phone exposes your phone all the more to security breach risks. If your account is ever hacked, you could also compromise the data on your smartphone itself.

EXPLOITATION OF YOUR DATA?

Some people are wondering online about the real purpose of the creators of PI. Indeed, the project receives criticism concerning its management of the personal data of its users. The platform is collecting data from millions of miners and their networks. So, before using Pi currency, you have to ask yourself whether giving your private information is worth it.

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Sophia James is a creative and smart content developer with almost eight years of experience in design and marketing. She’s always striving for excellence in her job and is a great leader.

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