How to Sell PI Coins

You can sell PI on centralized crypto exchanges, including Gate.io, Bitget, OKX, and MEXC. PI is not supported on any decentralized exchange

The price of Pi (PI) dropped on Thursday morning, despite the token's recent surge in popularity following the launch of its Mainnet earlier this year.

According to data from CoinGecko, the token fell by 10% over the last 24 hours to reach $0.095 at the time of writing. The drop came after the token rose to highs of $0.11 earlier in the week, following a series of upbeat announcements from the Pi Network team.

Despite the price decline, Pi remains one of the most-discussed cryptocurrencies among retail investors, thanks in no small part to its unique mobile mining system, which allows anyone to join the network and begin mining Pi on their smartphones.

The project also boasts a large and active community, with millions of users engaging with the Pi Browser, the network's built-in web browser, and participating in the project's social media channels.

As the project continues to develop and expand, here are some of the key things to watch out for:

Unofficial Listings: The Pi Network team has warned users to be aware of unofficial listings and businesses operating without authorization.

To mitigate the risk of scams and ensure the safety of its users, Pi has instituted a KYB (Know Your Business) verification program for businesses planning to integrate with the Pi Mainnet.

Only KYB-verified businesses will be able to create non-custodial Pi wallet addresses on the Pi Mainnet blockchain, allowing them to receive and manage Pi directly.

A complete list of KYB-verified businesses will be available on the official Pi Network website.

Those businesses will also be able to apply for a non-custodial Pi wallet address, while businesses that are not KYB-verified will not be able to apply and will be unable to receive, hold, or manage Pi.

The Pi Network team will not provide any non-custodial wallet addresses to businesses or users, and any such addresses claimed to be from the Pi Core team will be illegitimate.

IOU vs Real PI: In a related note, users are advised to confirm that any exchange listing PI is authorized by the Pi Core team and that the token being sold is the real Pi Coin and not an IOU (promissory token).

A small number of exchanges have begun listing Pi, offering users the ability to sell the token for other cryptocurrencies or fiat currency. However, not all exchanges are created equal, and some may be offering IOU tokens instead of the real Pi Coin.

The Pi Core team has authorized a limited number of exchanges to list Pi and these exchanges will be able to apply for non-custodial Pi wallet addresses from the Pi Network. A list of authorized exchanges will be provided on the official Pi Network website.

Those who choose to transact with businesses or exchanges not listed on the KYB verified business list will be doing so at their own risk and may encounter scams or frauds that will result in the loss of their assets.