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One of the biggest criticisms of cryptocurrencies, whether it is Bitcoin or other altcoins, has been that they are very energy-intensive. In fact, Bitcoin mining uses up enough energy to power an entire European nation. This has given critics a reason to avoid and prevent the widespread use of cryptocurrencies, especially in a world that is attempting to move towards a more green and energy-efficient industry.

The pi coin has, due to its environmental friendliness, become one of the most popular altcoins out there, and its low-energy mining through phones has become quite popular. In this article, we review the different aspects of the Pi Coin, in addition to explaining how and where you can buy Pi Coin easily.

Where to Buy Pi Coin – Step by Step Guide 2022

A simple step-by-step guide to buying Pi coins has been given below. This quick guide uses eToro, one of the most popular cryptocurrency brokers, for this purpose.

  • Open an account with eToro – Quickly open an account with our recommended broker eToro
  • Upload ID – Upload a copy of your passport or driver’s license to verify your identity
  • Deposit – Deposit funds with a debit/credit card or e-wallet
  • Buy Cryptocurrency – Buy cryptocurrency commission-free
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Coinbase
Binance
Rating
4.9
5.0
4.5
4.3
Mobile App Rating
10/10
1/10
7/10
9/10
Mobile App
Wallet
Number of Coins
7330744
Trading Fees
Spreadskeine$0Commissions
Deposit Fees
$00€$0$0
Withdrawal Fees
$55$$0Variable
Regulated
Yes; CySEC, FCA, ASIC, FSASN/AYes; US Securities and Exchange CommissionYes; New York State Department of Financial Services
Min. Deposit
$10N/A$0$0
Leveraged Trading
YesN/AYes; From 2:1No
Bitcoin
$19509.07$40403.57$19315.91$40405.41
Ethereum
$1342.49$2798.00$1329.20$2797.06
XRP
$0.48$0.78N/AN/A
Litecoin
$53.93$109.06$53.40$109.04
Bitcoin Cash
$119.63$295.29$118.45$294.51
Chainlink
$7.69$14.67N/A$14.68
Cardano
$0.44N/AN/AN/A
IOTA
$0.30N/AN/AN/A
Binance Coin
$285.45N/AN/AN/A
Stellar
$0.12$0.19N/AN/A
Bitcoin SV
N/AN/A$48.64N/A
USD Coin
N/A$1.00N/AN/A
EOS
$1.21N/AN/AN/A
Credit Card
Neteller
Skrill
Sepa Transfer

Where to Buy Pi Coin

1. eToro – The Overall Best Broker to Buy Pi Coin

eToroetoro-logo-1-e1623748139151 is easily the best overall Pi trading platform in the US for 2022, and this is for a variety of reasons. Firstly, the platform is very heavily regulated, by both the CySEC and the UK’s FCA. This is particularly important for the cryptocurrency markets since this means that any cryptocurrencies you trade through eToro are done in a secure manner so as to not risk your capital. In addition to Pi Coins, the platform provides you with the option of buying around 17 altcoins, including ETH, BNB, ADA, XRP, etc.

Depending on the location where you live, you might also be allowed to trade altcoin options, however, this is only available for the more popular altcoins such as ETH, ADA, and BNB. you can trade crypto-fiat pairs, and exchange fiat currency for altcoins. At the same time, you can also trade crypto pairs, where you exchange one cryptocurrency for another. eToro is also a complete commission-free site, and the only fees they charge are their spreads. This means that you can enter and exit a trade whenever you wish to do so, without having to incur any additional charges.

eToro also offers a variety of passive trading tools that you can use to trade Pi. This includes a variety of traders that you can choose to copy or mirror through the platform’s social trading tools. However, in addition to this, they also have a curated CryptoPortfolio, which is a basket of bitcoin alongside several prominent altcoins including Pi coin that are given varying weights. This portfolio is managed by the eToro investments team, so you do not have to worry about rebalancing the portfolio regularly. You can get started with an eToro trading account in minutes – and deposit methods include debit/credit cards, bank transfers, and e-wallets like Paypal.

eToro fees

Fee Amount
Stock trading fee Free
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5

Pros:

  • User-friendly platform with an easy-to-use interface
  • Allows for copy trading and other social trading options
  • Regulated by various agencies worldwide
  • Provides cryptocurrency derivatives in certain areas
  • No commissions on trades
  • Provides a variety of other assets to trade on such as stocks, currencies, indices, and ETFs
  • Provides access to a curated CryptoPortfolio managed by the eToro team

Cons:

  • Not suitable for advanced charting or technical analysis

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Binance – The Best Pi Trading Platform for Regular Day Traders

Binance is one of the most popular cryptocurrency platforms in the world, and it boasts of the highest selection of altcoins. If there is any altcoin you wish to invest in, whether it is small-cap or large-cap, there is a very high chance that Binance will have it. For example, the platform has had the Pi coin ever since it was established in early 20321, and it allows you to exchange Pi not just for fiat currencies but also with BTC, ETH, ADA, and a variety of other cryptocurrencies. The platform also deals with billions of dollars in trading volume every day. Usually, you will be able to deposit funds into Binance via credit/debit card or a bank transfer, making for a convenient experience.

Binance Platform

The platform charges high fees for deposits and withdrawals – between 2% and 3%. However, they have very low trading fees and are known for being one of the cheapest crypto trading platforms in terms of their fees. Usually, the fee is 0.1%, and it is even lower if you have an allocation of the Binance Coin (BNB). They also have a wide variety of tools and technologies available specifically for cryptocurrencies, which makes them a suitable option for highly experienced crypto traders.

Binance fees

Fee Amount
Crypto trading fee Commission, starting from 0.1%
Inactivity fee Free
Withdrawal fee 0.80 EUR (SEPA bank transfer)

Pros:

  • Advanced charting platform with numerous technical indicators
  • Hundreds of pairs supported
  • Very low commissions
  • Supports fiat currency deposits
  • Low fees, with additional discounts for using BNB
  • Security measures are very tight and proven to be among the best in the industry

Cons:

  • Charges up to 2% on credit/debit card deposits
  • Customer service responses can be delayed at times

Your capital is at risk

3. Coinbase – The Best Pi Trading Platform for Beginners

coinbase logoOver 100 tradable cryptocurrencies such as Bitcoin, Ethereum, and Pi Coins are offered through Coinbase, a cryptocurrency trading, and investing platform. Over 73 million users access Coinbase, which has more than $255 billion in assets under management.

Simple buy and sell orders are likely to be preferred by beginners on the original Coinbase platform. However, Coinbase Pro, available to all Coinbase users, offers more advanced features and order types.

In general, digital currencies are an emerging asset class that can be risky and volatile, making them unsuitable for all investors. Nevertheless, if you’re into cryptocurrencies, Coinbase is an excellent option for both beginners and veterans.

Coinbase fees

Fee Amount
Crypto trading fee Commission, starting from 0.50%
Inactivity fee Free
Withdrawal fee 1.49% to a U.S. bank account

Pros:

  • Advanced charting platform with numerous technical indicators
  • Hundreds of pairs supported
  • Easy to use for cryptocurrency beginners
  • Support for a large number of cryptocurrencies
  • Opportunities to earn cryptocurrency
  • Lower pricing available with Coinbase Pro

Cons:

  • Charges up to 2% on credit/debit card deposits
  • Customer service responses can be delayed at times

Your capital is at risk

What is Pi Coin?

Pi Coin

Put very simply, the Chia coin (XCH) is an alternative to other, more energy-intensive, cryptocurrencies. It allows users to mine the coin on their phones without eating up a lot of electricity or battery life, thereby not only making it more energy-efficient but also adding to the hype by enabling retail investors and everyday consumers who do not have access to advanced computers for cryptocurrency mining to become a part of the Pi network. In order to prevent robots and scammers, the app requires you to sign in every day and restart the mining process. The rate of mining is expected to decrease steadily as more people sign into the app, and the upper limits for current mining rates have already been established.

Why Buy Pi Coin?

The Pi Network’s official website claims that its goal is to ensure that no one is left out of the cryptocurrency revolution, pointing out that mining cryptocurrency is hard and investing in it can be even riskier. According to the project, it enables anyone to mine crypto on their phone without draining their battery. Accordingly, there is now frenzied speculation about what Pi coin’s value may be in the future. But Pi coin projections are tricky without all the right data.

There are several different roles within the project’s ecosystem. Every day users who have downloaded the mobile app are referred to as Pioneers and are expected to confirm that they are not a robot on a daily basis by signing into the app. Ambassadors introduce others to the Pi Network, and this unusual format has prompted accusations among some that the project is using tactics often deployed by multi-level marketing schemes. Nodes refer to those who use the app and run node software on their computer. However, the unique nature of the Pi coin that allows users to mine it and become a part of the Pi network is definitely something that will enable the platform to stand out in the future.

How Much Does It Cost to Buy Pi Coin?

At the time of writing in early December 2021, a single Pi coin trades for around $0.007. However, you can also simply mine the Pi coin on your phone or laptop through their app. The app requires you to confirm that you are not a robot by singing in every day and restarting the mining process. Therefore, you can simply get the Pi coins you wish for free by mining them on your devices. With that said, it is important to understand that like any other tradable asset – the Pi price will change throughout the day. This problem is further compounded by the fact that Pi is not a traded asset and is not listed on any exchange at the moment

It is also important to remember that Pi – like all cryptocurrencies, operates in a highly speculative and volatile arena. However, as we have seen with many other hyped-up crypto assets, what goes up can often come crashing straight back down – and quickly. As such, if you are wondering how to buy Pi in the safest way possible, make sure you keep your stakes modest.

How to Buy Pi Coin with PayPal

With cryptocurrencies such as PI, one can purchase these through PayPal as well, as opposed to traditional purchase methods such as credit/debit cards and bank transfers. eToro is a unique trading platform that allows its users to deposit funds into their accounts via eToro and then use these funds for the purchase of cryptocurrencies including PI and others. As far as we know, there are no other crypto exchanges that let you invest in PI with PayPal or any other electronic wallets, so eToro is quite unique in this regard. Therefore, eToro is an excellent investment platform for all investors who wish to use this particular payment method when making investments.

How to Buy Pi Coin with Bitcoin

A large range of products and services can now be purchased using bitcoin and other cryptocurrencies as a result of growing awareness and popularity. For example, on Binance, you can buy almost every cryptocurrency via Bitcoin in addition to using fiat currencies to buy them. For some other cryptocurrencies, you can buy them in exchange for ETH, ADA, and even BNB. In recent years, the number of retail stores and payment processors that accept bitcoin has grown to an extent, though there are still some major holdouts in this regard. Therefore, if you are trading through a major cryptocurrency exchange, then you can simply deposit your existing Bitcoin into their crypto wallet and use it to buy PI.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Buying Pi Coin Safely

As far as investing in Pi Network is concerned, there are no guarantees. The demand for cryptocurrency can expand enormously if it launches smoothly and becomes popular, and this is quite likely to happen especially because of all the new and unique concepts that Pi brings to blockchain technologies. Even though it has more use cases than most other cryptocurrencies such as Dogecoin and Shiba, it does not mean that it will perform better than these because they are on the Ethereum network and not on their own blockchain network. PI will definitely still struggle to reach its all-time highs again soon, especially given the fact that blockchain technology is expanding every day and it is very difficult to be able to say when another cryptocurrency that is more energy-efficient than even PI will be launched, making it redundant and thereby dropping its prices.

Investing in anonymous projects like PI also presents distinct security risks since a critical flaw in the code may allow the developers to steal cryptocurrency from investors by scamming them. Unfortunately, in the wild west that is DeFi, some scams are causing users to lose millions of dollars with increasing frequency. If experienced code auditors had access to the code, this possibility could be ruled out, but the Pi Network hasn’t yet been audited so that they couldn’t do this.

Risks of Buying Pi Coin

As such, altcoins have a strong community function as opposed to their utility. Because of this, the success and growth of the community are pivotal in determining how successful they are, explains Boneparth, who has been investing in cryptocurrencies since 2014. However, there is still an inherently high degree of risk associated with investing in altcoins, as experts warn that there is a higher chance that you will lose your money. Authorities generally recommend that you should only invest what you can afford to lose regardless of which cryptocurrency you choose

It is important to remember that altcoins may require a greater level of caution because they differ from something like bitcoin in several aspects, including their structure, supply, and usage. Bitcoin was created in 2009 to serve as a peer-to-peer electronic cash system. In addition to its blockchain, the company has carefully designed an ecosystem to support the blockchain. Using the fact that Bitcoins are a limited supply allows for a certain amount of built-in scarcity through the design. The fact that it can be used for this purpose makes it such a valuable investment for its holders, with the hope that it will be recognized as a prominent decentralized digital currency. Most altcoins lack these features, and even Pi does not incorporate all these features completely, which means that it has a lower degree of compatibility with most infrastructure that has been designed for the Bitcoin blockchain. Pi Network supporters contend that the ecosystem that Pi offers, including features such as smart contracts and nonfungible tokens and opportunities for enterprise-wide liquidity mining, goes beyond community value.

While this is true, Brett Harrison, president of cryptocurrency exchange FTX US, warns that “those altcoins can be extremely risky, and may not always have inherent value as investments, and that individual retail investor should always conduct research and diligence before trading these assets.” Harrison looks for assets that offer specific utility rather than investing in a booming cryptocurrency based on hype to make money from crypto-assets.

Crypto assets are a growing area of interest for investors. They provide a store of value, facilitate an efficient mechanism for the transfer of funds, or serve as an algorithm that enables the construction of blockchain-based applications, writes Marcus. He says many assets can be suitable for retail users. However, a degree of caution should always be exercised whenever you decide to invest in altcoins, especially given the unique nature of Pi, which makes it much harder for investors and speculators to be able to accurately price in the technology associated with Pi.

Selling Pi Coin

Depending on what platform you are trading through, the process of selling Pi coins will be very straightforward. For example, you can simply head over to your portfolio on eToro and click on sell. After selecting the amount and the type of order you wish to place, then the next step for you is to simply click on place order and this will result in your cryptocurrencies being converted into the fiat currency that you use to operate your platform. On the other hand, if you are using a sole cryptocurrency exchange, then you will have other options too. For example, you might wish to convert your Pi into other cryptocurrencies such as Bitcoin, Etheruem, or Binance Coin, alongside a variety of fiat currencies. Once you have done this, these cryptocurrencies will then be stored in your wallet on the platform.

Pi Coin Price Forecast

The Pi Network appears to have done what few crypto projects manage to achieve: capture the imagination of everyday consumers. But there are several difficulties in trying to forecast the future price of a coin like the Pi coin: the cryptocurrency isn’t actually live on an exchange yet. To compound the problem, the mainnet hasn’t even launched. So where to look next for a Pi network price prediction 2022?

Some of the most optimistic Pi coin price predictions tend to come from those who have downloaded the app; some have suggested that a single Pi could be worth anywhere between $10 and $100 right now. However, there’s absolutely no evidence to back this up, and the team behind the Pi Network hasn’t released much information on the project’s progress. Right now, a reliable Pi coin price prediction for 2022 is much sought after. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Pi coin projects, the crypto environment in general, legal position, and so on. Therefore, it is important for you to do your own research before buying Pi coins.

Best Way to Buy Pi Coin – eToro Tutorial

In order to assist you with trading Pi, here is a list of steps that you need to follow in order to begin trading altcoins on eToro. The process of opening an account and trading on eToro is quite straightforward and involves 4 main steps.

Step 1: Open an Account

The first thing that you need to do is to navigate to the eToro homepage and click on “Join Today”. Then, you will be asked to fill a short form that asks for your contact details and makes you set up your login credentials. Alternatively, you can also sign up via your Facebook or Google account for easier sign-ins and to avoid having to remember your username and password.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Upload ID

The next step is for you to verify your identity by uploading a copy of your ID. Since eToro is a regulated platform, they have to complete the KYC (Know Your Customer) process before they allow you to trade. This verification process has two parts to it. The first part involves verifying your identity. For this, you can upload a copy of any government-issued ID, such as a passport, driving license, or visa. The next part is an address proof, for which you can either upload a bank statement or utility bill.

Once you have uploaded the documents, eToro has a quick response time, and will usually verify your account in a few hours.

Step 3: Deposit Funds

The third step is to then deposit funds into your account. The minimum deposit on eToro is 200 GBP. This can be done in a variety of ways. For starters, you can add money to your eToro account via bank transfer or via credit/debit cards. They also accept a variety of e-wallets such as PayPal and Skrill. You can add funds in different currencies too, such as USD, GBP, and EUR. There are no fees or charges associated with depositing funds into your account, and they show up almost immediately.

Step 4: Buy Pi Coin

The last step is then to begin trading Pi. Simply head over to the search bar, search for Pi coin or PI, enter the amount you wish to buy or sell, and click on the order button.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Conclusion

While there are several platforms on which you can trade Pi, eToro is easily the overall best platform for this purpose. This is true for a variety of reasons. Firstly, eToro provides you with leverage when investing in cryptocurrencies, making it easier for you to invest in Pi while only risking a small amount of capital on your own part. In addition to this, they also offer a variety of verified and reliable altcoins to trade on in addition to Pi, and the regulatory requirements that they comply with mean that your money is safe when you invest in Pi and other cryptocurrencies through eToro.

eToro – Buy Pi Coin With 0% Commission

etoro-logo-1-e1623748139151

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

Who created the Pi Coin?

Launched in March 2019, the Pi Network was created by three Stanford PhD graduates: Dr Nicolas Kokkalis, Dr Chengdiao Fan and Vincent McPhillip.

What is the market cap of Pi Coin?

Since Pi coin does not trade on any listed exchange, it does not have a market cap per se, and it will only begin to have one once it is being traded actively.

Do I need a crypto wallet to buy Pi Coin?

No, you do not need a crypto wallet if you choose to buy Pi coins through CFD platforms such as eToro. However, buying actual Pi coins through a wallet means that you will be able to transfer cryptocurrencies between platforms.

Can I buy Pi Coin in the US?

Yes, you can buy Pi coins in the US through any established cryptocurrency trading platforms such as eToro, Binance, or Coinbase.

How much money do I need to buy Pi Coin?

The amount of money you need to need to buy Pi coins will depend on the minimum balance requirements associated with your platform, however, in general, it can be as low as $100.

About Nishit Kumar
About Nishit Kumar

I'm a second year Accounting and Finance student at the University of Warwick, in addition to being an incoming Trading Analyst at Morgan Stanley. I'm passionate about the financial markets and all things finance.

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