The Pi Coin network has continued to gain traction with millions of users, partly due to its easy-to-use mobile application that allows you to mine its token. However, users of the platform are still not able to buy and trade the cryptocurrency because it is yet to be launched and become tradable on any exchange.
Fortunately, for cryptocurrency investors looking to get into trading and mining, obtaining Pi coins requires less effort compared to other projects. For starters, the Pi coin network has made it easy for millions of its users to mine its token using a mobile phone.
This means that, unlike in the past, when cryptocurrency miners required huge processing power, the Pi coin mining works with your mobile phones. This has meant that people who previously could not access the industry due to expensive requirements can now get into owning Pi coins.
The network also does not require people to invest their money. Instead, with only a mobile phone and time, they can be able to get their hands on the Pi coins and hold them until they are launched, where they can exchange them for other digital currencies or even fiat.
Unfortunately, the Pi Coin is not worth anything today. The more than 29 million Pi coin holders will have to wait until the project is launched and tradable on exchanges. The holders will also have to consider the possibility that, even with a launch, their cryptos will not be worth much due to the high number of people who already own the coins.
Because the project is yet to launch, I can only speculate. My prediction is that the cryptocurrency will trade below the $0.01 price level due to the high number of holders when it is launched. I also expect a bear market in the first few months after the launch. Holders will be trying to cash in their holdings, which will result in a strong bearish move for the crypto.
This post was last modified on Jun 27, 2022, 16:37 BST 16:37