馃攳
Pi Network - How To Withdraw Pi Coin - How To Exchange Pi Coin - YouTube
Channel: Christian Rauchenwald
[0]
Hello, welcome to another video
with me, Christian Rauchenwald.
[2]
Now in this video, I'm going to
tell you if and how you can withdraw
[6]
your Pi coins or how you can
exchange them into real currency.
[10]
And the reason why I want to talk
about this is because since I initially
[14]
started mining PI in August, 2020,
so not that long ago, I've invited
[19]
a couple hundred users to Pi, as you
can see on the screen right there.
[24]
And since then, the number one
question that I've seen day after day
[28]
in the Pi chats, is people asking how
to withdraw PI, so how to exchange
[33]
their PI coins into a FIAT currency,
like US dollar, Euro, and so on.
[38]
And I want to point out that it's
important that you watch this video
[41]
to the end, because otherwise you may
end up making it the wrong decision.
[45]
So let's start with the
number one question.
[47]
How can you withdraw your Pi coins?
[50]
And the answer to that is currently
you can not withdraw your Pi
[55]
coins because Pi is currently in
phase two out of three phases.
[60]
So it's not a full cryptocurrency yet,
and it's not listed on any exchanges.
[64]
Now, I can hear you asking.
[66]
So if I cannot withdraw
it, what can I do with PI?
[69]
At the moment, you cannot
do anything with PI.
[71]
You cannot transfer it.
[73]
All you can basically they
do is mine it for free.
[76]
Think of it like in early Bitcoin
days when people mined thousands of
[80]
Bitcoins on their computer, but they
actually couldn't use it for anything.
[83]
Now does that mean that Pi is
worthless or useless and that there
[87]
is no point in mining Pi at all?
[89]
No, it means the exact opposite.
[92]
You are among the pioneers among the
first couple of million users that
[95]
signed up for PI and as a thank you
or as a token of appreciation and also
[100]
to build an active community, and a
certain amount of PI in circulation,
[105]
you currently receive PI for free.
[107]
Other people eventually will not be able
to get their coins for free anymore.
[112]
So it's important that you take advantage
off this opportunity and that you simply
[117]
spent the five seconds every day to open
your Pi app and push the mining button
[122]
so you mine for another 24 hours, and
you receive your free Pi coins every day.
[128]
Now assuming you continue mining
pie coins, the question is when
[132]
will Pi have an actual value.
[134]
So when will you be able to withdraw
it and also how much will it be worth
[139]
now to start with the first question.
[141]
Pi will achieve a real value once
it can be traded on exchanges like
[146]
crypto.com, Binance and so on, and that
will happen once PI reaches phase three.
[152]
Now, if you want to have a
detailed answer, I recommend that
[154]
you read the white paper that
you can find on the PI website.
[157]
And there's also a link to it
in the description down below.
[160]
But to provide you with
a simplified answer.
[162]
Currently Pi has roughly 8 million users.
[165]
So that's 1 million more, since I
joined PI in August two months ago.
[170]
And the way things look now until
PI achieves a total of 10 million
[174]
users, all pioneers, so all users that
sign up right now, will be able to
[179]
mine free Pi coins and receive free
coins every day for pushing a button.
[184]
Now, in addition to the 10 million
user limit that may change, we
[187]
will see about that in the future.
[189]
There is also the fact that the
PI developers need to finish
[193]
some of their work so that the
nodes are tested and so on.
[196]
And that everything's working and
to actually turn PI into a fully
[200]
grown cryptocurrency and have
it listed on certain exchanges.
[205]
So it's possible that Pi will be tradable
and exchangeable by the end of the year.
[209]
It's also possible, that it will take
another year or maybe even longer.
[213]
The point again is that you currently
have a great opportunity to jump
[217]
in early and get your Pi coins
for free without risking anything.
[221]
All you have to do is open your Pi
up once per day on your phone and
[225]
push the lightning bolt button,
so you mine for another 24 hours.
[229]
Ideally, if you want to
earn more Pi per hour.
[232]
You'll tell your friends and family about
it and have them use your invitation code.
[236]
So you actually end up earning more Pi
while you can still get it for free.
[242]
And to answer the second
part of the question, how
[244]
much is PI going to be worth?
[246]
That's something that nobody can
answer you right now, because it
[250]
depends on a lot of different things.
[252]
The longer the free mining continues,
the more Pi will be in circulation.
[257]
So therefore, there will be way more
supply, which would mean each coin
[261]
will be worth a little bit less.
[263]
To provide you with a different example,
we can look at the Tesla stock in 2020.
[268]
During March, it fell to
roughly $300 per stock.
[271]
Eventually it climbed up to over
$2,000 per stock, and then the
[276]
stock were split one to five.
[278]
So if you had one Tesla stock worth,
let's say exactly $2,500 from one
[284]
day to the other, you had five Tesla
stocks, but each was only worth $500.
[289]
So that would be a simple example of
how the supply of something in this
[292]
case, Tesla stocks, but in our case, PI
coins will have an effect on the market.
[297]
Now another thing that's important
to understand this just because
[300]
Pi will be listed on an exchange,
doesn't mean that it's smart to sell
[305]
your Pi coins on day number one.
[307]
Again, if we go with the Tesla stock
example, imagine that somehow you
[311]
got one Tesla stock per day for
free by pushing a button in the app,
[315]
but you cannot sell it right now.
[317]
You and hundreds or millions of other
users, get free Tesla stock every day.
[322]
And let's say on the 1st of January,
you will be allowed to trade it.
[325]
If now on the 1st of January,
everybody tries to sell their stock.
[329]
There will be nobody there to buy
all that stock and the price will
[333]
instantly fall from $500 per stock
to $1 per stock or $2 per stock.
[339]
And the same would happen with Pi coins.
[341]
The moment Pi achieves phase three and
you can exchange and trade it on platforms
[345]
like crypto.com and Binance, there will
be a set upon or agreed upon price.
[350]
And if then everybody
just tries to sell it.
[353]
Nobody will be there to buy.
[355]
So some people may not be
able to sell it at all.
[357]
And for the other people, the
price will plummet instantly.
[361]
So it's not the smart thing to do.
[363]
You have to see Pi for what it
is and what it is, it's a great
[366]
opportunity to get a lot of free Pi
coins that you can then use longterm.
[372]
Yes, when PI launches, you may want to
sell some of your Pi coins instantly
[376]
to get some money, but you also
want to keep some of them longterm.
[379]
Again, let's take Bitcoin
for an example here.
[382]
Initially Bitcoins were
worth almost nothing.
[384]
Then they eventually were worth $1,
$2, $10, a hundred dollars, $300.
[390]
Nowadays we're looking at a Bitcoin
value of more than $10,000 per coin.
[395]
Now imagine you would have gotten
500, 5,000 or more Bitcoin for
[398]
free when it initially started.
[401]
And you sold everything on day
one for two or $3, you would
[404]
probably regrett it a lot today.
[406]
And the same applies to Pi.
[408]
Now I'm not saying that Pi will be
worth $10,000 per coin because that,
[413]
again depends on supply and demand and
how people use Pi in the daily lives.
[417]
If everybody just holds their
Pi coins and nobody's willing to
[420]
sell them, it's also not great.
[422]
The key is that once Pi
achieves phase three, that you
[426]
look for how you can use it.
[428]
Is there an online store that
accepts Pi as a payment method.
[432]
Well, and maybe use it to buy your
next iPhone or you order a pizza
[435]
online or something like that, to
give it a real purpose in our lives.
[440]
Use it to send money to friends.
[441]
So instead of sending them a regular
wire transfer, send them Pi coins and
[445]
they can then cash them out, for example.
[447]
So to give Pi a real purpose in
this world, and with that, you will
[451]
help increase the value of PI, which
again, will increase the value of
[455]
the remaining Pi coins that you have
left after sending a couple hundred
[459]
coins to a friend, for example.
[461]
So to sum things up right.
[462]
Currently, it's not possible to sell your
PI coin or withdraw the money from your PI
[467]
wallet, but that does not mean that Pi is
worthless than that you should not mine.
[472]
It means the exact opposite the longer
you mine now, and the more coins you
[476]
get, the more money, you will actually
have once PI achieves phase number
[481]
free, but you definitely should not
give away all your Pi coins once
[485]
it's possible, but you should keep at
least half or even more your Pi coins
[490]
longterm to benefit from an increased
value over the next couple of years.
[495]
Now last but not least.
[496]
You may also want to check out
the video I published recently.
[498]
I'm going to put it in the card up
here where I answer a couple of other
[501]
very common Pi related question.
[503]
So you actually know
what you're getting into.
[506]
As always, thanks for watching.
[507]
See you in one of my
other videos until then.
[509]
Bye bye.
Most Recent Videos:
You can go back to the homepage right here: Homepage