How to Sell Pi Coin: Step-by-Step Guide

Pi Coin is the native cryptocurrency of Pi Network, a blockchain project that allows users to mine coins using a mobile app. Since its launch, millions of users have accumulated Pi through mining. Now that Pi Network has transitioned to its open mainnet, users can transfer and trade their coins on supported exchanges.

Selling Pi Coin is not as straightforward as other cryptocurrencies. Before trading, users must complete Know Your Customer (KYC) verification and migrate their coins to the Pi Mainnet wallet. Additionally, Pi is not listed on every exchange, so selecting a platform that supports Pi trading is essential.

This guide outlines the step-by-step process for selling Pi Coin, including how to complete KYC verification, transfer coins to an exchange, place sell orders, and withdraw funds. It also covers trading fees, security considerations, and market risks to help users navigate the selling process efficiently.

Prerequisites Before Selling Pi Coin

Before selling Pi Coin, users must complete three essential steps: KYC verification, mainnet migration, and wallet setup. These steps ensure that Pi Coins are transferable and can be traded on exchanges.

Complete Pi Network’s KYC Verification

Pi Network requires KYC verification to confirm user identities before allowing transactions on the mainnet. Without completing KYC, Pi Coins remain locked and cannot be transferred or sold. To complete the KYC process, users need to open the Pi Network app and navigate to the KYC section in the settings. They must submit identification documents such as a passport, national ID, or driver’s license, complete facial verification, and then submit their application for review. Once verified, users can proceed with mainnet migration. Those who fail to complete KYC within the given timeframe risk losing access to their mined Pi Coins.

Migrate Pi Coins to the Mainnet

Pi Coins mined before the mainnet launch exist on a testnet and must be migrated to the mainnet before they can be sold. This ensures that only verified users with completed KYC can transfer and trade Pi Coins. To migrate, users need to open the Pi Network app and go to the Mainnet Checklist. They must verify that KYC is approved, enable migration, and link their Pi Wallet to the mainnet. Once the migration request is confirmed, users must wait for blockchain confirmation. It is crucial to complete migration before the deadline set by Pi Network to avoid losing untransferred coins.

Set Up & Secure a Pi Wallet

A Pi Wallet is required to receive, store, and transfer Pi Coins. It also serves as the gateway for moving Pi Coins to an exchange for trading. To set up a Pi Wallet, users need to download the Pi Browser app and select Pi Wallet. They should then create a new wallet, generate a private key, and securely store the private key and recovery phrase to prevent loss of funds. Enabling multi-factor authentication (MFA) is also recommended for additional security. A properly secured Pi Wallet ensures that Pi Coins remain safe from unauthorized access. Users must never share private keys or store them online. Once these prerequisites are completed, users can proceed with selecting an exchange and selling their Pi Coins.

Where to Sell Pi Coin

Pi Coin is not available on all cryptocurrency exchanges. Only select platforms support Pi trading, making it essential to choose an exchange based on trading pairs, liquidity, and transaction fees.

Major Exchanges Listing Pi Coin

Several centralized exchanges (CEXs) currently support Pi Coin trading. OKX offers the PI/USDT trading pair, high liquidity, and requires KYC verification for withdrawals. Bitget supports PI/USDT and PI/BTC trading pairs, has competitive fees, and provides 2FA security features and withdrawal whitelists. Gate.io allows users to trade Pi with multiple pairs, including PI/USDT, but requires deposit verification for first-time Pi traders. It is also known for low withdrawal fees. These exchanges allow users to sell Pi for stablecoins or other cryptocurrencies, which can then be converted to fiat currency.

Peer-to-Peer (P2P) Trading Options

Some users prefer selling Pi Coin via peer-to-peer (P2P) platforms, where buyers and sellers interact directly without an intermediary exchange. These platforms may offer better rates but come with higher risks, such as scams or delayed payments. Common P2P options include Telegram and Discord trading groups, local crypto marketplaces, and direct person-to-person trades with escrow services. Users should exercise caution when using P2P platforms, always verifying the buyer’s credibility and using escrow services to prevent fraud.

Key Factors to Compare When Choosing an Exchange

Before selecting a trading platform, users should consider several key factors. Trading pairs differ between exchanges, with PI/USDT, PI/BTC, and PI/ETH being the most common. USDT pairs provide easy conversion to fiat-backed assets. Liquidity and trading volume determine how quickly trades are executed with minimal price slippage, so users should check the 24-hour trading volume before placing orders. Transaction fees vary across platforms, with maker/taker fees typically ranging from 0.1% to 0.5%, while withdrawal fees depend on exchange policies and blockchain congestion.

Choosing the right exchange ensures efficient and secure Pi Coin transactions. Once an exchange is selected, users can proceed with transferring their coins and placing a sell order.

How to Sell Pi Coins

Once Pi Coins are migrated to the mainnet and a trading platform is selected, users must follow these steps to sell their holdings. The process involves creating an exchange account, transferring Pi Coins, and placing a sell order.

Create and Verify an Exchange Account

To sell Pi Coin, users need an account on a supported exchange such as OKX, Bitget, or Gate.io. The first step is to visit the exchange’s official website, click Sign Up, and enter an email address or phone number. After creating a secure password, users must complete the account verification process and enable two-factor authentication (2FA) for added security.

Some exchanges require KYC verification before allowing deposits or withdrawals. This process typically involves submitting a government-issued ID (passport, national ID, or driver’s license), providing proof of address (utility bill or bank statement), and completing facial recognition verification if required. Once the KYC verification is approved, users can proceed with depositing Pi Coins into the exchange.

Transfer Pi Coins to the Exchange

To trade Pi Coin, users must transfer funds from their Pi Wallet to the chosen exchange. This requires obtaining the correct deposit address from the exchange. Users should log in to their exchange account, navigate to the Assets/Deposit section, search for Pi Coin (PI), and select Deposit. The exchange will generate a unique Pi deposit address, which must be copied carefully.

Once the deposit address is obtained, users must open their Pi Wallet, select Send Pi, and paste the copied exchange address. Before confirming the transaction, users should double-check the address to avoid irreversible errors. After initiating the transfer, users must wait for network confirmations, which may take several minutes to hours, depending on blockchain congestion. Some exchanges require multiple confirmations before funds become available for trading. Once the Pi Coins appear in the exchange account, users can proceed with placing a sell order.

Placing a Sell Order

After the Pi Coins are credited to the exchange account, users must navigate to the trading section to execute a sale. In the exchange interface, they should select the Pi trading pair, such as PI/USDT or PI/BTC. The user must then choose between a Market Order, which sells Pi immediately at the current market price, or a Limit Order, which sells Pi only when the price reaches a specified level.

To complete the sale, users must enter the amount of Pi to sell, review the transaction details, and confirm the order. Once the trade is executed, the proceeds will appear in the user’s exchange balance, where they can withdraw the funds as fiat currency or another cryptocurrency.

Fees and Costs

Selling Pi Coin involves multiple fees that impact the final amount received. Understanding these costs helps users optimize their transactions and avoid unexpected charges.

Exchange Trading Fees (Maker/Taker Fees)

Most exchanges apply maker/taker fees for trades. A maker fee is charged when placing a limit order that adds liquidity to the market, while a taker fee applies when executing a market order that removes liquidity. These fees typically range from 0.1% to 0.5% per trade, depending on the exchange and the user’s trading volume.

Withdrawal Fees

Exchanges charge fees for withdrawing funds from the platform. Fiat withdrawals to a bank account may incur fees based on the withdrawal method, such as wire transfer, SEPA, or ACH. Users withdrawing their Pi sale proceeds as crypto (USDT, USDC, or BTC) will also face network transaction fees, which vary depending on blockchain congestion.

Network Transaction Fees (If Applicable)

Some blockchains impose additional transaction fees when transferring funds between wallets. Although Pi Network itself does not charge high fees for transfers within its ecosystem, exchanges may apply withdrawal fees for moving Pi Coins to another platform or personal wallet.

To minimize costs, users should review the exchange’s fee schedule before making transactions. Comparing fees across different platforms can help determine the most cost-effective way to sell and withdraw Pi Coin.

Cashing Out: Converting Pi to Fiat

After selling Pi Coin, users must decide how to convert their funds into fiat currency or another digital asset. The method chosen depends on factors such as processing time, fees, and security considerations.

Withdrawing Funds After Selling Pi

Once a sell order is executed, the proceeds appear in the exchange balance. Users can withdraw their funds through bank transfers, crypto-to-stablecoin conversions, or peer-to-peer (P2P) trading.

Different Withdrawal Options

One option is a bank transfer, which allows users to withdraw fiat currency directly to a linked bank account. Exchanges that support fiat withdrawals use payment methods such as SEPA, SWIFT, or ACH transfers. However, users must first ensure their bank account is verified with the exchange. Processing times for bank transfers vary and can range from instant transactions to several business days, depending on the payment method and bank policies.

Another option is crypto-to-stablecoin conversion, where users convert their Pi sale proceeds into a stablecoin like USDT, USDC, or BUSD. Stablecoins can then be withdrawn to a personal crypto wallet or exchanged for fiat on another platform. This method is particularly useful for fast transfers and avoiding price volatility in unstable markets.

For users looking for direct transactions, peer-to-peer (P2P) trading allows them to sell Pi proceeds for cash, PayPal, or other local payment methods. This involves trading directly with another buyer through an escrow-protected platform to minimize fraud risks. P2P transactions can sometimes offer better rates than centralized exchanges, but users must be cautious and choose trusted trading partners to avoid scams.

Each withdrawal method comes with different fees, security risks, and processing times. Users should choose the most efficient option based on their location, urgency, and transaction costs.

Key Considerations

Selling Pi Coin involves market risks, security concerns, and regulatory restrictions. Understanding these factors helps users protect their funds and maximize their returns.

Market Volatility

Pi Coin’s price fluctuates due to supply, demand, and overall market sentiment. As a relatively new cryptocurrency, it may experience sudden price swings, making timing an important factor when selling.

To optimize a sale, users should monitor real-time price charts on exchanges and check historical price trends to identify support and resistance levels. Avoiding panic selling during temporary price dips can help prevent unnecessary losses unless urgent liquidity is required. A common risk-management strategy is to sell in portions instead of all at once, reducing exposure to market volatility. Using limit orders instead of market orders also allows sellers to control the price at which their Pi Coins are sold.

Security Measures

Exchanges and online transactions come with security risks. Users must take precautions to prevent fraud, hacking attempts, and unauthorized access to their funds.

One essential security step is enabling Two-Factor Authentication (2FA) for logins, withdrawals, and account changes. Instead of SMS verification, which can be vulnerable to SIM swapping attacks, it is safer to use an authenticator app for added protection.

Users should also be cautious of scams and fraudulent platforms. Pi Coin should only be traded on verified exchanges, and unsolicited offers from individuals claiming to buy Pi Coins should be avoided.

Another important security practice is double-checking wallet addresses before transferring funds. If a user sends Pi Coins to the wrong address, the transaction is irreversible, leading to a permanent loss of funds. Regularly reviewing exchange security settings and updating passwords can also help protect assets.

Regulatory Risks

Cryptocurrency regulations differ across jurisdictions, and some countries have strict policies on crypto trading and withdrawals. Certain governments require tax reporting for crypto-to-fiat conversions, while others impose outright bans on cryptocurrency trading, making it difficult for users to withdraw their funds legally.

To ensure compliance, users should check local crypto regulations before selling and withdrawing Pi Coins. If required by law, they must report crypto gains according to their country’s tax laws. Additionally, using a regulated exchange that complies with financial regulations can prevent account restrictions or blocked withdrawals due to banking policies.

By considering these risks and following the necessary precautions, users can sell Pi Coin securely and legally while minimizing financial and security risks.

Common Mistakes to Avoid

Selling Pi Coin requires careful planning to prevent losses, delays, or security risks. Many users make avoidable mistakes that can result in failed transactions, excessive fees, or even lost funds.

Selling Pi on Unauthorized Exchanges or P2P Scams

Some platforms falsely claim to support Pi trading but lack proper security measures, making them vulnerable to hacking or fraud. Additionally, P2P transactions without escrow protection increase the risk of scams, where buyers fail to complete payments after receiving Pi. To avoid these risks, users should only trade on verified exchanges and always check Pi Coin listings through the official Pi Network website or other reputable sources.

Forgetting to Complete KYC Before Trying to Trade

Exchanges require KYC verification for deposits, withdrawals, and large trades. If KYC is incomplete, users cannot migrate Pi to the mainnet or transfer their holdings to an exchange. Before attempting to sell Pi, users should ensure their KYC status is approved to avoid unnecessary delays.

Not Comparing Fees, Leading to High Transaction Costs

Different exchanges charge varying trading and withdrawal fees, and some platforms impose hidden costs, such as high network transaction fees. Users should always review the exchange’s fee structure before selling to minimize unnecessary expenses. Comparing maker/taker fees, withdrawal costs, and potential conversion fees can significantly reduce transaction costs.

Ignoring Withdrawal Limits or Bank Regulations

Many exchanges enforce daily or monthly withdrawal limits for both crypto and fiat withdrawals. Additionally, some banks block or delay crypto-related transactions, which can create issues when trying to cash out. Before withdrawing funds, users should check their bank’s policies on crypto transactions and verify the exchange’s withdrawal limits to ensure a smooth transfer.

By avoiding these common mistakes, users can ensure a secure and efficient selling experience without unnecessary complications.

Conclusion

Selling Pi Coin involves multiple steps, including KYC verification, mainnet migration, selecting an exchange, and placing a sell order. Users must also account for trading fees, security risks, and regulatory compliance before withdrawing funds.

To ensure a smooth and secure transaction, users should follow these key tips:

• Complete KYC verification and mainnet migration before attempting to trade.
• Use trusted exchanges and avoid unauthorized platforms or P2P scams.
• Compare trading fees to minimize unnecessary costs.
• Enable security measures, such as 2FA and wallet backups, to protect funds.
• Monitor market price trends to sell at the most favorable rate.
• Check withdrawal policies in advance to prevent unexpected delays when converting Pi to fiat.