How to Sell PiCoin: A Simple and Straightforward Guide

Thinking About Selling Your PiCoin? Here’s Exactly How to sell Picoin

You’ve been mining PiCoin, and now you’re ready to cash in on your hard work. But you’re probably wondering: How to sell PiCoin? 

I’ll take you through every step of the procedure in this guide, from configuring your wallet to deciding where to sell your coins. 

You’ll find it simple to follow whether you’re new to cryptocurrency or have been around for a while.

Step 1: Set Up Your Pi Wallet It’s Quick, But Important

Before you can sell PiCoin, you need to get it into a Pi Wallet that you control. 

To get started, first download the Pi Browser app (available on the Google Play Store and Apple App Store). 

Once it’s installed, open it and go to the wallet.pi page inside the app. 

Take note that creating your wallet will result in being issued a 24-word seed phrase. 

That phrase is the access key for your wallet. It stores your coins and only with that phrase will you be able to access it. 

You will have to write it down and store it offline. Make sure you never share it with anyone and avoid losing it. Losing that phrase will result in losing your PiCoin for good.

Step 2: Finish the KYC verification procedure 

The next stage is to finish the KYC (Know Your Customer) check. 

To prove your identity, just upload a valid ID and maybe a selfie.

You will be able to move your mined PiCoins to your wallet after you have been validated. 

The KYC procedure can take a few minutes to several days, depending on how busy you are, so don’t panic if it takes a while. 

However, you can move your PiCoins into your wallet as soon as you’re accepted.

Step 3: Where to Sell Your PiCoin Your Two Main Options

Now that your PiCoins are in your wallet, you’re ready to sell them. But the next question is: Where do you sell your PiCoin? 

You have two main options: Centralized Exchange (CEXS) or Peer-to-Pier (P2P) platform. 

Each has their own professionals and opposition, so let’s go to both. 

Option 1: Selling picoin on centralized exchanges 

If you want a quick and straightforward way to sell, CEXS is the way to go. 

These platforms are easy to use, and since they handle a lot of transactions, you are likely to find buyers faster.

Here are a few exchanges where you can sell your PiCoin:

• OKX: Supports Pi/USDT, Pi/EUR, and other pairs. They offer low trading fees, and the process is simple.

• MEXC: Another solid choice, offering 0% maker fees and very low taker fees.

• Gate.io: Lists Pi/USDT and has pretty standard trading fees (around 0.1%). Keep in mind that full KYC is required here before you can trade.

How to Sell PiCoin on CEXs:

• Sign Up: To begin, you must register for an account on one of these exchanges and complete the KYC verification procedure. Although a little inconvenient, it is required for security reasons.

• Deposit Your PiCoins: Once you’re verified, head to the Deposit section of the exchange and select PiCoin. There will be a special address for you to send your monies to. Copy it carefully, then go to your Pi Wallet, paste the address, and transfer your coins.

• Sell Your Coins: When your coins arrive in your exchange account, you’re ready to sell. Find the Pi/USDT trading pair (or whichever pair you prefer), and you can either sell at the market price or set a limit order if you’re looking for a better price.

• Withdraw Your Funds: After you sell your PiCoins, USDT (or another currency) will be in your account. You can then transfer it to another wallet or withdraw it as fiat (USD, EUR, etc.) to your bank account.

Option 2: Selling picoin on Peer-to-Pier (P2P) platforms 

If you are looking for more flexibility and potentially low fees, P2P platforms are a great option. 

You are working directly with buyers, and you can determine your terms, which can make the process slightly more individual.

Some popular P2P options for PiCoin include:

• Coinskro: A P2P platform specifically designed for PiCoin transactions.

• Telegram or Discord: Many PiCoin trading communities exist on these platforms. You can find buyers, but be sure to vet them carefully.

How to Sell PiCoin on P2P Platforms:

• Choose a Platform: Pick a trusted P2P platform like Coinskro, or head to a trading community on Telegram or Discord. You have the option to either browse current buy offers or list your coins for sale.
• Use Escrow for Security: To safeguard both you and the buyer, an escrow service is necessary. To guarantee a safe and easy transaction, escrow withholds the buyer’s money until you verify the PiCoin transfer.
• Finish the Transaction: After settling on a price, transfer the PiCoins to the buyer’s wallet address. The escrow will release the money to you once they have verified that they have received the coins.

Step 4: To Sell or Not to Sell What’s the Right Move?

By now, you’re probably asking: Should you sell your PiCoin now or wait a little longer?

That’s a hard one to figure out. Trading PiCoin has its risks, some optimists expect a bull run on PiCoin in the future.  

There is also consideration about inflation, the years to come, the viability of the project, and issues of privacy.  

Regardless of the risks, it always ties to your personal objectives.  

When in doubt, it’s always a good idea to “do your own research” (DYOR).