Although investors are increasingly depended on cryptocurrencies, a fundamental understanding of digital currencies and how they function is still essential to properly trading with them. This understanding is often what prevents many beginners and amateurs in the crypto industry from investing their money. That is about to change in the near future! According to a new cryptocurrency initiative that promises to make it easy for even novices to join the cryptocurrency market. This project is known as Pi-Network (PI), and it is currently in the testing phase. Learn how to buy Pi Coin safely and cheaply in 2023!
Buy Pi Coin: What should you look for when buying Pi Coin cheaply and safely?
Pi Coin has been in existence since 2017, and it became a reality in 2019. On June 14, 2021, the cryptocurrency swiftly jumped to the 18th position in terms of market value among the most prominent cryptocurrencies. Before purchasing Pi Coin, you should keep the following items in mind to ensure that nothing goes wrong:
- Where can I get the best deal on Pi coins? There is currently no broker that sells Pi Coin. But, due to the coin’s rapidly growing popularity, it is likely to be accessible on Plus500 shortly.
- Do I intend to retain Pi Coin indefinitely or actively trade it? It is determined by your trading approach.
- How does a Pi Coin wallet function? Plus500 provides a simple, integrated wallet.
- Is it worthwhile to invest in Pi Coin? While Pi Coin has been in existence since 2019, the project is still in its early stages. It is unclear when the mainnet will be operational. Nonetheless, there are now approximately 14 million active users. An investment may be advantageous as soon as the currency is accessible on exchanges.
What exactly is PiCoin?
Pi is a new cryptocurrency created by and for regular people that can be “mined” (or earned) with a smartphone. Cryptocurrencies are a new kind of digital currency that is administered and safeguarded by a community rather than by governments or institutions.
If you engage in the network, you may mine and earn the Pi Coin using the smartphone app. The software aids in the security of the money and the development of a trustworthy network. The Pi network is mainly targeted at young and inexperienced investors who are unfamiliar with the bitcoin industry.
How does Pi Coin function?
Pi Coin is the Pi network’s native coin. On March 14, 2019, Stanford grads created this. The goal is to make the bitcoin market as accessible as possible to as many individuals as possible. This implies you don’t need any costly gear or a separate wallet to get Pi Coin.
The Pi Network is a P2P (peer-to-peer) blockchain that is decentralized. This includes smart contracts based on the SCP protocol (Stellar Consensus Protocol). This is also the most significant distinction between Bitcoin and Ethereum, which employ PoW (Proof-of-Work) protocols.
The project is presently in its second round of testing. Still, you may already have joined the Pi network. You must get the software from the appropriate store. Thus, you may mine PI Coins while also receiving them as a bonus, all while using your smartphone. Unlike other cryptocurrencies, all Pi network participants are part of a so-called security circle—a group of 3 to 5 people who can be trusted. These security rings subsequently constitute the complete network, with Pi Nodes verifying transactions.
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Pi Coin Purchase Instructions for Beginners with Plus500
We will now go through how to purchase Pi Coin. We chose the broker Plus500 for this since it allows you to trade actual cryptocurrencies as well as CFDs; Plus500 combines the benefits of a broker and a crypto exchange.
Pi Coin’s token is not presently accessible from any crypto broker, since it is Pi Coin’s own native token that is exclusively utilized in its own network. Despite the fact that the initiative is currently in its second phase of testing, it already has over 14 million active users. As a result, we are certain that Plus500 will add Pi Coin to its offering as soon as it becomes accessible. After that, you may use our tutorial to acquire Pi Coin on Plus500.
The first step is to: Sign up with a broker or a cryptocurrency exchange
You must first sign up with Plus500. To do so, go to the registration form by clicking on the following link. You then input your username, e-mail address, and password into the form and agree to the terms and conditions. You will then get a verification email with a link to click to validate your email address.
The second step is to fund the account
The next step is to fund your account so that you may purchase Pi Coin in the future. To do so, go to Plus500 and click on the “Deposit money” button.
Next, choose the amount and payment method you wish to use, and then click the “Send” button to deposit the funds.
Finally, purchase Pi Coin online using Euro
You may purchase Pi Coin as soon as you fund your Plus500 account. To achieve this, we put “Pi Coin” into the search area at the top. Next we press the “Trade” button.
The purchasing window will then open. You have the following options:
- Purchase or sell: If you wish to buy Pi Coin, click on “Buy.”
- Orders or trades: Here you may specify whether you want the trade to be executed immediately (trade) or with a time delay (order).
- Amount: The amount of Pi Coin you want to purchase.
- Stop Loss and Profit: At what loss or profit should the position be liquidated automatically?
- Leverage: How much leverage do you wish to use to purchase Pi Coin? With leverage X1, you purchase genuine coins, but with leverage X2, you buy leveraged Pi Coin CFDs.
After setting all of the parameters, click the ” Open Trade ” button to make the purchase.
Pi Coin has now been purchased!
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Our recommendation:
Invest with Plus500
Pi Coin CFDs?
With cryptocurrencies, like with other financial products, you have the choice of purchasing actual coins or CFDs. You will not purchase the cryptocurrency personally, but you will be able to depend on the price growth.
After all, CFDs are financial instruments in and of themselves that merely employ certain base values as price benchmarks. In theory, these contracts for difference provide you with the right to purchase or sell the asset. As a consequence, the difference between the buy and sell prices is pocketed as profit or loss. A Pi Coin CFD is similarly an all-or-nothing proposition.
Is it better to buy Pi Coin as a CFD or as an actual cryptocurrency?
Trading CFDs on Pi Coin
- Trading with a fee advantage
- State-regulated and subject to deposit insurance: You are safe from hackers and assaults
- There is no need for a sophisticated depot setup
- Using leverage in trading
- There are no "actual" Pi Coins
- Long-term investors have a fee disadvantage
- Risky Investment: Substantial losses are possible with leveraged trading
Pi Coin trade that is “real”
- Own genuine Pi Coin Coins that you may control yourself
- You may purchase, trade, or swap bitcoins using an extra wallet
- The learning curve is steep
- Hacks and cyber assaults are possible
- You are solely responsible for coin management
- You often need a second wallet for storage
If you use a Crypto CFD Broker, you can trade cryptocurrencies without really holding them. This is convenient since you don’t have to worry about storing it in a bitcoin wallet.
At this time, we must recommend our test winner, Plus500: With Plus500, it is possible to trade crypto CFDs with leverage, as well as buy real cryptocurrencies!
What are the costs for purchasing Pi Coin?
Pi Coin is not yet accessible on Plus500. We anticipate that the coins will be accessible shortly due to their strong interest. As soon as the cryptocurrency is included in the Plus500 range, the fee table should reveal how much the purchase of the Pi Coin will cost:
- Pi Coin (PI) is purchased at the Pi Network pricing of €1,000.
- We save our coins for 30 days before selling them again.
- For the purpose of simplicity, we assume that the price remains constant throughout the next 30 days.
With these assumptions in place, let’s look at the fees of the main providers:
Pi Coin Price: Significant Events in the Pi Coin (PI) Price History
- March 14, 2019: Stanford alumni are developing the Pi-Network and releasing the related app.
- June 2019: The app has grown in popularity, with over 100,000 users.
- The Pi network reaches 3.5 million active users in April 2020.
- While the commencement of the mainnet has not yet been declared, approximately 14 million people are presently actively engaging in the Pi network.
Here’s why we like Plus500
Pi Coin is not presently available on any exchange other than the Pi Coin platform. Yet, given the rising demand for cryptocurrencies, it is very possible that the Pi Coin may be available on other cryptocurrency exchanges.
But if you wish to trade the currencies or bet on their price patterns, we highly advise you to use a secure and user-friendly crypto exchange. And here, you should pay close attention to the circumstances.
In our huge crypto exchange comparison, we already had a clear test winner: Plus500. Plus500 provides a sophisticated platform for both new and expert users, as well as an in-house app and an integrated wallet. Hence, if you don’t want to acquire or set up a new wallet, Plus500 is the ideal option.
Should you buy Pi Coin with or without a wallet?
In general, the safest place to keep cryptocurrency is in a wallet. If the coins and tokens are stored on an exchange, you may lose access to them, for example, if a hacker attacks or a broker goes bankrupt.
Using a wallet is not inherently more difficult than utilizing standard exchange platforms. A wallet is always a good idea.
Nevertheless, using a wallet to trade with Pi Coin is not required. Since Pi Coin is now in great demand and is growing in popularity, the coins will most certainly be offered on Plus500 shortly (if the launch to the mainnet is successful).
If you are interested in a wallet, you can learn more about them in our crypto wallet comparison. But if you wish to invest in Pi Coin (PI) CFDs rather than purchase the coins, you do not require a wallet. It is sufficient to open an account with Plus500 and invest in the CFDs there.
Buy Pi Coin with PayPal: Where to buy Pi Coin with PayPal?
Sadly, due to the company’s guarantee conditions, PayPal only plays a modest role on the stock market. Despite the fact that PayPal is one of the most convenient payment options, many brokers do not utilize it. PayPal only charges fees when you fill up your PayPal account using a credit card rather than SEPA or an immediate transfer. Then a set rate of €0.35 is anticipated for transfer charges, as well as 1.9% fees on the amount transmitted.
PayPal is one of the easiest payment methods on the Internet, as well as one of the cheapest. PayPal, on the other hand, is accepted as a payment method at Plus500. After Pi Coin has been added to the Plus500 portfolio, you can quickly fund your customer account using PayPal and then acquire Pi Coin coins or trade in Pi Coin CFDs.
Does it make sense to invest in Pi Coin? Which cryptocurrency is the best investment?
It is currently not possible to buy Pi Coin tokens on other cryptocurrency exchanges. If you want to acquire the money right now, you must mine it yourself using the program in the test network. But, given the growing popularity of DeFi projects, we anticipate that most brokers will soon be providing Pi Coins, assuming they have successfully accessed the mainnet. In the meantime, if you wish to trade with other cryptocurrencies, there are many to choose from. These are some of our suggestions:
Alternative 1: Opportunities in the Field of cryptocurrencies
If you want to invest in cryptocurrencies, you have a lot of options. The most common Pi Coin variants are:
- Purchase Bitcoin: Many believe Bitcoin to be the “digital gold” and one of the most stable cryptocurrencies.
- Purchase Ripple: In recent months, Ripple has emerged as one of the most popular cryptocurrencies.
- Purchase Ethereum: Ethereum is the smart contract solution and the second most popular cryptocurrency in the world.
- Purchase Lucky Block: LBLOCK is the trendiest commodity on the crypto market right now.
Alternative 2: Crypto stocks
Crypto stocks are another option; chipmakers, mining firms, and even the Bitcoin Group have all seen significant profits so far. Thus, if you don’t simply want to trade cryptocurrencies, equities might also be beneficial. And if you want to diversify your portfolio by trading cryptocurrencies and equities, Plus500 makes it simple.
- Bitcoin stocks: If you don’t want to invest in cryptos directly, you may invest in crypto stocks.
- NVIDIA stocks: NVIDIA develops crucial graphics processors, particularly for mining; if the crypto craze continues, NVIDIA is a sure bet.
Pi Coin Trading: Should you hold Pi Coin for the long term or trade for the short term?
Whether you want to hold Pi Coin for the long term or trade it for the short term depends on your trading strategies and risk management. Trading with Pi Coin is not yet possible as the network is still in the test phase. However, if you want to take part now, you can do so using the Pi app on your smartphone. It remains to be seen when it will be launched on the mainnet.
Is it possible to buy Pi Coin offline?
Pi Coin may currently only be mined or received as reward money on the native platform. Since Pi Coin is cryptocurrency, it cannot be purchased offline.
To purchase Pi Coin, you will need a decent crypto exchange and, if you want to be secure, a wallet. The cash, however, must be acquired with an existing internet connection.
If you wish to retain the cash offline, you may purchase a hardware wallet. If you still wish to mine Pi Coin, the operator will make you a wallet, which you can then keep locally.
Is it possible to buy Pi Coin anonymously?
It was feasible to acquire coins anonymously at the beginning of cryptocurrency. Nevertheless, only with diversions. Yet, it is not simple to retain true anonymity while purchasing bitcoins. In fact, if you examine closely, you may have to say goodbye to anonymous purchasing.
Only very recognized sites enable the purchase of cryptos in exchange for user data. If you arrive at a trading platform that does not do this, you have already entered the gray zone. Yet, you risk being caught by a fraudster and losing your money while receiving no coins. Priorities should be considered in this regard.
Instead of total anonymity, we offer a secure and trusted Pi Coin buy via the online broker Plus500. The absence of anonymity assures the safety of all those engaged.
Buy Pi Coin possible without verification?
You cannot evade verification on a cryptocurrency exchange if you want to trade cryptocurrencies. This is for your personal safety as well as the safety of others participating in the trade. After all, you want to deal with actual individuals who can verify their identities. When you sign up with Plus500, verification is fast and simple.
Buy Pi Coin possible without registration?
The simplest method to purchase Pi Coin is via a cryptocurrency broker. Nonetheless, registration is required in all cases. This provides investors and the stock market with both safety and security. Pi Coin is not currently traded on our test winner, Plus500, but we anticipate that it will be added shortly. So you may either acquire genuine coins or speculate on their price movements (by means of CFD trading).
Conclusion
The Pi network is an intriguing and unique concept that aims to make the cryptocurrency market more accessible and appealing to investors of all types. With the in-house software, you can effortlessly mine Pi Coins from your smartphone. Pi Coin is also available via the app as a reward for network participation.
But, despite 14 million active users, the initiative is still in the testing phase. This indicates that the Pi coin currently has no value. A date for the mainnet debut has not yet been announced, and whether it will happen is presently debatable. Yet, given the number of users, we cannot envision the Pi network being canceled.
When Pi Coin becomes accessible on Plus500, an investment may be lucrative. Plus500 is our crypto exchange test winner, outperforming the competition with cheap costs, an in-house app, and a social trading feature.
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