Is Pi coin withdrawal finally possible? The truth about the Mainnet launch is here.

After waiting for so long, the Pi Network's Mainnet is finally coming soon. Many friends have been accumulating several k Pi coins, and now the most concerned question is — when can this thing really be withdrawn and exchanged for real money?

What is Pi coin? Why are so many people mining it?

In simple terms, Pi Network is a project that aims to break the traditional mining monopoly. You know about Bitcoin mining, right? It consumes electricity, uses graphics cards, and the costs are astronomical. The idea behind Pi coin is: you can mine it using your phone, without consuming electricity or data. This strategy has indeed attracted tens of millions of users worldwide.

Pi coin is the native token of the Pi Network, aimed at allowing ordinary people to participate in the cryptocurrency ecosystem without the need for complex hardware investments. Sounds very idealistic, right?

Once the Mainnet is launched, the rules of the game change.

The Pi Network is still in the testnet phase, and the coins in your hands are just digital and cannot be withdrawn or transferred. Once the Mainnet is officially launched, Pi coin will have a true on-chain identity, allowing for free transfers, trading, and exchanges like BTC and ETH.

In simple terms: Testnet = practice field, Mainnet = real battlefield.

Three Major Barriers to Withdrawal

Pi Network has announced that after the Mainnet launch, to withdraw, one must pass these three hurdles:

1. Pass KYC review

Pi Network requires facial recognition and identity verification to prevent individuals from exploiting the system and committing fraud. This step is not difficult for most users, just a bit annoying.

2. Bind Official Wallet

Pi provides an official wallet, and your coins must first be in the wallet, which is equivalent to withdrawing from the mining pool.

3. Go to the exchange or other wallet

Once the wallet is bound, you can transfer funds, sending them to mainstream exchanges like Binance and OKX, or to your own wallets such as MetaMask and Trust Wallet. If you want to exchange for USDT or BTC, you can just go through the exchange.

Current Real Situation

To be honest, the story of Pi Network has been told for several years, and the launch date of the Mainnet has been repeatedly postponed. Some people in the community have already reaped significant rewards, while others have hit a snag. It's important to remind that:

• The Mainnet is not fully launched yet; the latest update from the official side is that the withdrawal function is being gradually opened, not implemented all at once.
• The price of Pi coin is currently basically 0 (on major exchanges), unless the Mainnet truly becomes active, otherwise withdrawals may not exchange for much money.
• Do not be deceived by the “withdrawal promises” of some third-party platforms, those claiming to allow immediate withdrawals and exchanges for USDT are very high risk.

Bottom Line Recommendations

If you are already mining coins on the Pi Network, continuing to mine is not a hassle. But don’t treat this as an ATM to expect money from, and don’t spend real money to buy Pi coins (buying now is just betting on the Mainnet being viable). Wait until the Mainnet is truly stable and the coins can be traded on legitimate exchanges before thinking about withdrawals.