How to Withdraw or Sell Pi Coins on Binance
Currently, the Pi Network has not yet fully launched on official cryptocurrency exchanges like Binance, so Pi coins cannot be directly withdrawn or traded on these platforms. Here’s a breakdown of the situation and future possibilities for Pi Network withdrawals and trading:
Understand the Current Phase of Pi Network
- Pi Network is still in its Enclosed Mainnet phase, meaning transactions are limited to Pi Network’s own ecosystem and cannot interact with external networks or exchanges like Binance yet.
- The team has indicated that a future Open Mainnet launch will allow Pi to be listed on exchanges, enabling external trading and withdrawals.
The Roadmap to Open Mainnet: When Can You Sell Pi?
The move to Open Mainnet is a significant milestone that will determine when Pi tokens can be traded on exchanges. Here’s what to keep an eye on in Pi’s roadmap:
- Compliance and Security Audits: Before launching on Open Mainnet, Pi Network is focused on complying with regulatory requirements and security protocols to protect user funds.
- KYC Verification: The Pi Network team is rolling out KYC (Know Your Customer) verification to ensure that all users are legitimate and to prevent fraudulent activity. Completing your KYC verification is essential, as unverified users may not be able to transfer or trade Pi once Open Mainnet launches.
- Development and Integration with Other Blockchains: Pi Network is also working on integration with other blockchains and applications, which will be crucial for launching on exchanges.
3. Preparing for When Pi is Tradable on Binance
Once Pi launches on the Open Mainnet, and if Binance lists Pi, here’s a step-by-step guide on what you’ll need to do to sell or withdraw your Pi:
- Complete KYC Verification: Ensure you’ve completed the KYC process within the Pi Network app. Verified users will be the first to gain access to Open Mainnet features, including token transfers.
- Set Up a Pi Wallet: If you haven’t already, set up a Pi wallet within the Pi Network app. This wallet will store your Pi tokens securely until you’re able to transfer them to an external exchange.
- Monitor Binance Listings: Binance regularly updates its list of supported assets. Keep an eye on Binance’s announcements to see if and when they add Pi to their platform.
- Prepare for Transfer: When Pi is available on Binance, you’ll be able to transfer tokens from your Pi wallet to Binance’s deposit address for Pi. You can then trade or sell Pi just like any other cryptocurrency on the exchange.