A Step-by-Step Guide on How to Start Mining Pi Cryptocurrency

This article provides a guide on how to register for a Pi account and start mining Pi cryptocurrency which could prove valuable in future

Carson O.
7 Min Read

Pi is a new digital currency being developed by Stanford PhD’s as an innovative means of everyday payment transactions. It is still in the development stage but over 34 million people globally have already joined the Pi network as pioneers. The mining process is simple and does not require expensive hardware or technical knowledge. This article provides a step-by-step guide on how to register for a Pi account and start mining Pi coins which could prove valuable in future.

Getting Started with Pi

1. Download the Pi Network App

Being a mobile-based cryptocurrency, the first step is to download the official Pi Network app on your smartphone. It is available free for both iOS and Android users. This will allow you to access the Pi network and start mining.

2. Sign Up for a Free Account

Once you install the app, you can sign up easily using your Facebook or mobile number. This creates your Pi user account credentials including username, password and Pi wallet address. No KYC documentation is required at this stage.

3. Get a Referral Code

Next, you will need a referral code to fully activate your account. This code links you to the member who referred you and begins building your security circle on the network. If already invited by a member, enter their referral code. Alternatively, you can use our referral code: CX539 and get 1 free Pi token.

- Advertisement -
claim deal

Referral Code: CX539

4. Configure Your Account and verify your phone number

Before mining, set up your account details including full name, country, and an optional profile photo. Make your username and password very secure. Then read Pi Network’s terms and privacy policy to understand how your account data will be handled.

After completing your profile, verify your account phone number. You will be required to send a text message to a Phone Number in the USA or any other country they list. This will enable you to transfer your coins to your Wallet and trade them once Mainnet is launched.

5. Start Mining Pi

You are now ready to start mining Pi! This involves simply clicking a button on the app once per day to confirm you are an active user, similar to tapping a faucet. Each time you click the lightning symbol “Mine Pi” button, you will mine a small portion of Pi based on your mining rate.

6. Build Your Security Circle

A key part of the Pi network is building your security circle by inviting other trusted members such as family and friends to join. This boosts your mining rate through combined mining power. Try to grow a circle with diverse connections. The more active your circle is, the more Pi you can earn.

7. Check Your Balance and Transactions

You can check your account at any time to see your mined Pi balance and transaction activity. Although not monetary yet, this gives you an idea of the Pi you have accumulated through daily mining. You can transfer Pi to others in your security circle.

How Does Mining on Pi Network Work?

The key innovation of Pi is using a social consensus algorithm for minting and validating new coins, rather than resource-intensive mining hardware. This allows everyday people to take part in the mining using their phones. Active members confirm they are real individuals in the network by clicking the Mine Pi button and contributing to consensus. The more engaged your security circle is, the higher your mining rate measured in Pi per hour. It starts very low but builds up over time.

Pi’s Core Team

Pi Network was founded in 2018 by two Stanford PhD graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, together with experienced developer Vincent McPhillips. Stanford connections helped spread Pi on college campuses initially. The core team includes researchers and developers with extensive blockchain expertise. They aim to build Pi into a widely used global currency.

Current Status and Roadmap for Mainnet Launch

As of 2023, Pi is still in the development phase with over 34+ million Pioneers but no monetary value. The roadmap involves reaching 100 million engaged Pioneers and then transitioning from Testnet to a fully decentralized Mainnet blockchain. At this point, accounts will be KYC verified before Pi can be exchanged for fiat currency. The Core Team estimates this may take around 3-5 years. Patience is key!

- Advertisement -
claim deal

Is Mining Pi Coins Worth It?

No cryptocurrency investment is guaranteed, but Pi has a strong founding team and a large global community behind it. With the minimal effort of clicking daily, you stand to gain valuable Pi coins if the network succeeds. Pi could be the first digital currency truly driven by everyday people that disrupts conventional mining power structures. Joining the Social Chain revolution now as an early Pioneer is worthwhile to potentially be part of crypto history!

Summary

Registering for Pi only takes a few minutes but starting early positions you to mine maximum Pi coins over the long term if it achieves mainstream adoption. Building and actively engaging your security circle drives higher mining rates. So download the app, start tapping daily, and invite your trusted network to optimize your Pi earning potential. Consistent participation will put you in the best position to benefit when Pi transitions to a fully valued blockchain.

TAGGED:
Share This Article
Follow:
I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *