The wait is over for Pi Coin miners as the Open Network officially launched Pi Coin’s mainnet at 8 AM UTC on February 20, 2025, sparking both an upward and downward trend in its value within hours of its listing.
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More than 10 million users, who have been waiting for over two years, have started migrating their mined Pi coins from the testnet to the mainnet. This migration makes it possible for them to exchange their Pi Coins for physical money or trade them for other cryptocurrencies.
The Anticipation
The launch has sparked a global craze, spanning from Africa’s cryptocurrency unofficial headquarters Nigeria, Indonesia, Ghana, India, and other countries around the world. With the launch, there are no latecomers; it is now possible to buy PI from crypto trading sites.
Here are the basic things you need to know about Pi Coin and how you can start acquiring it.
What Is Pi Network?
Pi Network, according to its whitepaper, is a mobile-first cryptocurrency project that allows users to mine digital currency for free through a mobile app. This app uses a trust-based consensus system instead of the conventional energy-intensive mining hardware.
The Pi Network project began in 2019 through the collaborative efforts of some Stanford graduates. Their mission was to make cryptocurrency accessible to everyone without needing specialized hardware.
Enclosed Period Is Over
During its enclosed operation period, which began in December 2021 and operated on its Mainnet blockchain, users were mandated to complete a Know Your Customer (KYC) verification to transfer their mined Pi to the blockchain.
Pi Network vs Bitcoin
Pi Network is an improvement on how Bitcoin (BTC) works. Unlike BTC, which requires expensive mining hardware, Pi simplifies the process by enabling people to mine using an app on their smartphones. Users earn Pi by verifying their presence on a phone app daily.
While the mining of Bitcoin requires intensive power-consuming hardware to access, Pi makes it easy for the community to mine and participate in other activities even while on the move via the downloadable Pi Network App.
Current Price of Pi Coin
It is currently trading at $0.7730, dropping by 54.51% at the time of publication while it hit an all-time high of $2.10. Its all-time low was $0.6152, according to the crypto tracking website CoinMarketCap on Thursday, February 20, 2025.
In some countries, such as Nigeria, holders were ready to pay between N1,700 ($1.13) to N2,000 ($1.32) per Pi coin. And that’s the trend among its vast traders who are anticipating a surge in the coming days. However, the price remains volatile.
Interestingly, it recorded over $1 billion in trading volume, with a $4.76 billion market capitalization in less than 12 hours of its official launch, even though it only listed on a few centralized exchanges (CEXs) at the time of publication.
How Does Pi Work?
According to its whitepaper, it uses the Stellar Consensus Protocol, unlike Bitcoin, which requires an energy-intensive Proof of Work system. Users build trust circles by nominating 3-5 reliable contacts, creating an interconnected web of verified members. These connections form a global trust graph that helps secure the network and validate transactions with computing power.
The mining process rewards different types of contributions by pioneers who earn base rewards for daily check-ins, additional amounts for growing their trusted circles, and bonuses for running full nodes on computers, an analyst on NDTV says. The network also rewards app usage and Pi lockups to support ecosystem development.
How to Acquire Pi Coin
- Download & Install the Pi Network App from Google Play Store.
- Start Mining by tapping the lightning bolt icon.
- After 3 days, add 3-5 trusted contacts to boost your mining rate.
- Share your referral code to increase earnings.
- Participate in app features like chats and polls.
- Learn about Pioneer, Contributor, and Ambassador roles to maximize your earning potential.
Conclusion
You can own Pi coin by participating in diverse contributions to the ecosystem, including helping to secure the blockchain, growing Pi’s trusted network, running a Node, and engaging with the Pi app ecosystem.