How to cash out pi coin?

Pi Network users can cash out their Pi cryptocurrency after mainnet launch, via exchanges like Binance or through peer-to-peer trading, but KYC verification is required for all transactions.

Mar 21, 2025 at 03:50 pm

• Early member wallet transfer : First, enable the wallet transfer function between early members to establish a basic peer-to-peer transaction model.

• KYC Identity Authentication : Implement comprehensive KYC (Know Your Customer) requirements to ensure that all users’ identities are effectively verified and comply with compliance standards.

• Comprehensive trading and cashing : After completing the above steps, Pi coins will be freely traded and exchanged around the world, truly unlocking its market value.

Although the core development team has hinted that 2023 is the target time to start the main network, actual time may change given the complex technical process. At present, Pi coins are still in a critical stage of transitioning to formal tradable assets.

• Register an exchange account : Register an account on an exchange platform that supports Pi coin trading and complete real-name authentication.

• Transfer Pi Coin : Transfer Pi Coin from the official Pi Coin mobile application to the wallet address specified on the exchange.

• Transaction for sale : sell Pi coins into other mainstream cryptocurrencies such as Bitcoin and Ethereum, or directly convert them into fiat currencies according to the real-time market price.

• Withdraw cash to the bank account : Withdraw cash from the exchanged legal currency to the bound bank account.

• Carefully review the counterparty : confirm the other party’s reputation and trading history and avoid trading with suspicious persons.

• Prevent fraud risks : Beware of all kinds of fraudulent means and do not easily disclose personal information and transaction passwords.

• Clarify tax responsibilities : understand and comply with relevant tax regulations to ensure the legality of transactions.

• Choose a reliable platform : Prioritize well-known exchanges such as Coinbase and Kraken that provide insurance custody and hacker protection to ensure the security of assets.

• Strengthen account security : Set high-strength passwords, enable multiple security measures such as biometric verification, whitelisting function, activity notifications, etc., and use physical security keys if necessary to prevent the account from being stolen.

• Cash in batches : Avoid cashing in all Pi coins at one time. You can operate in stages according to market conditions and platform stability to reduce risks.

• Transfer to external wallet : After converting Pi coins into other assets such as Bitcoin, consider transferring them to a non-custodial digital wallet or cold storage hardware wallet to achieve independent control of assets.