Pi Network Review

With today's review, we are going to have a look at PI Network. Is this the scam to look out for, or a chance to get one's hands on some Pi the easy way, before it becomes a valid cryptocurrency?  I will not go over the technical details as this can be found on their whitepaper and the Q&A, so no need to be repetitive and waste time. 




Website


minepi.com


Invitation Codes

If you do decide to give Pi Network a try, be sure to join under verified users with security circles.

Here are a few valid invite codes, if you are looking for some.

bugsy135

chewchew21

Reptiles4all

Cameronjames06


What is PI Network?

Pi Network is a program/app that was created which allows users to mine PI currency. The founders of the program are looking to grow as large a community as possible, verifying PI, and hopefully soon, turn PI into a valid cryptocurrency that could be bought, sold, exchanged, or even used to buy things with; similar to Bitcoin.

Pi network reviews



When was Pi founded and short history?

The network was launched on 14 March 2019 and has since been developed and updated. It started as just a mining app, but quickly started evolving, adding community chats, social media groups, and so on. They recently launched the beta version of their program for computers, along with the possibility to use your computer as a node. The number of users is rising every day, and the founders are constantly updating and being involved with the community.


Scam or Legit?

Pi is currently NOT yet a valid currency, so many will say it is a scam, however, the app is definitely legit.  Pi is basically a gamble for the future. You install and mine now, with the hope that in the future when it does become legitimate, you will have a bunch of Pi that you can exchange for real cash. Plus it does not cost anything, so if by some chance, it does not become valid, you can just uninstall and move on, no worries.


How does Pi Network work and how do you earn?

The app allows you to earn Pi by making contributions to the community. The more you contribute, the more Pi you can earn.

To earn Pi, you will check in every 24 hours and tap on the “lightning button” to start mining. You can boost your mining rate by inviting trusted friends or family to join the community. After 3 days of mining, you can start building your security circle to contribute to the overall security of the network.

Note: Members, who joined up first, will mine at a higher rate than those that came after them. There are also different levels to the program that will allow you to earn at different rates. These levels include:

Pioneer – Those who are new to the network are called pioneers, after a few days or after adding your first referral, this tag will change.

Contributor – Build a security circle of 3 – 5 trusted members. Basically, you will add members who you trust to your circle. Those will be people who verified their phone numbers.

Ambassador – When new members join your earning team by using your invitation code when they sign up. You will earn up to a 25% bonus on your base rate for each person that you invite to the Pi network.

Node – Node is software, which allows you to earn Pi on a PC/Computer.

Pi network reviews


Support

Pi has an email support service as well as a community chat, both of which are used for support or anything related to the network. The community is rather active, and you might want to mute the notifications, to avoid the constant message alerts. They also have a FAQ page where recurring questions are answered.


Is Pi worth anything and can you withdraw it?

Pi at the moment is not worth anything at all, but once the founders of the program exchange it for flat currency, it will become a valid cryptocurrency such as Bitcoin. It does have the potential to become valuable, but how valuable is not known at the time. Because it is not yet a valid currency, it cannot be used, withdrawn, or exchanged. This is more of a gather it now so you have it when it becomes valid in the future.


What does Pi Cost?

PI does not cost anything to join and is completely free to partake in. Earning is also completely free, with only a little bit of time and internet needed.

PI is not yet a physical currency, which means it cannot yet be bought or sold. The only way of getting it is by mining it using their app.


User Interface

Pi is not yet on any devices other than mobile. The app in itself is rather easy to use and simple to understand. A few buttons here and there, nothing too complicated.

Pi network reviews


Any Tutorials?

When first installing the Pi app on your mobile, you will be taken through a tutorial, which will show you where everything is on the app and how to use it or what it is for.


Pi Network - Pros

The Pi Network community chat is very active with millions of users that can answer questions, ask questions, and provide info, and so forth.

If Pi currency becomes a valid cryptocurrency, their users will be able to turn the Pi they are earning now into real money.

The Network is completely free to join, with no payments needed, only a bit of time, and internet once every 24 hours.

The Pi app does not use battery life in the background or even data. Just have to power up once every 24 hours, click mine and then forget about it.

Available in a multitude of languages.

Planet-friendly, no electrical waste. 

Questions and answers provided for most topics.

Is pi network a scam


Cons

Pi Network’s email isn’t as responsive as it should be. Sent them an email, never got a response, but the community chat helped me out.

Once you enter a phone number, you cannot change it, and in order to verify your account and that it is yours, you will need a working cell phone number.

Pi could flunk and never become a valid currency.


My Opinion

At this point in time, there is a lot of speculation if it is just another clever scam or could have the potential to become real crypto. When Bitcoin first came out, the majority reckoned that it was not legit and would never gain any value. Yes, PI has some trademarks of a scam, but so did many other valid cryptos at their early phases. In all honesty, there is just no way to predict if Pi will become a cryptocurrency and valuable or not this early in the game.   With over 15 million users now, it would make waves if they do end up being a scam, thus, I have a good feeling about this one. 

I've been running the app for a few months now and can honestly say that it does not drain the battery or use an excess of data. Takes a few seconds to turn on mining each day and that is it. If it turns out to be a bust, then I lost nothing and will simply just uninstall the app and move on. If it becomes valuable, it will be the easiest way I ever made money so for me, it is a gamble worth the time.  

Tip:

Verify your phone number when you join!  I made the mistake of not verifying my number, collected a bunch of PI, and then for some reason, my number did not want to verify. I had to start over from scratch. You can do so under the "settings" tab. 

Is pi network a scam

 
Do you mine Pi and what are your predictions about the future of it? 

Please be so kind and leave a comment with your opinion, not only will it be interesting, but also help others to make a more informed decision.

Thanks a bunch! 



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1 comment:

Anonymous said...

I have a good feeling about Pi turning into something. I much rather gather Pi now while it cost nothing to do so than to have no Pi when it does turn into something. Made the same mistake with Bitcoin years ago and still have regrets. Not making the same mistake again.