What is PI Network? How to mine PI on your smartphone to get higher rate in 2023?

PI Network is a mobile cryptocurrency allowing users to mine and earn PI coins using smartphones. It was created by a team of Stanford graduates and aimed to create a decentralized and user-friendly alternative to traditional cryptocurrencies.

The PI coin is a new cryptocurrency launched in 2019 and has yet to be listed on major exchanges. It operates on a unique consensus algorithm called the Stellar Consensus Protocol (SCP). It aims to provide a more energy-efficient and decentralized alternative to traditional proof-of-work and proof-of-stake algorithms.

To mine PI on your smartphone, you need to follow these steps:

1. Download the PI Network app from the App Store or Google Play Store.
2. Create a new account using your phone number or Facebook account.
3. To claim your Pi, follow this link https://minepi.com/sprintally, and use sprintally as your invitation code during signing up to claim 1π instantly for free.
4. Verify your account by entering the code you receive via SMS or Facebook.
5. Start mining by clicking the app’s lightning bolt icon and then the “Mine” button.
6. The mining rate is based on a daily mining rate, which decreases as more users join the network. The app must be kept open for the mining process to continue.

PI coin price prediction

Factors that could potentially affect the price of PI coin include its adoption rate, use cases, competition from other cryptocurrencies, regulatory developments, and overall market sentiment towards cryptocurrencies. However, it is essential to note that cryptocurrency markets are highly volatile and unpredictable, and past performance is not a reliable indicator of future performance.

It’s important to note that PI Network is still in its early stages, and the value of PI coins is not yet established. As such, mining PI is not a guaranteed way to make money, and it’s essential to do your research and understand the risks involved before investing any time or resources into it.

NB: It’s important to note that investing in cryptocurrency is highly speculative and comes with significant risks. Before investing, it’s crucial to conduct thorough research and consult with a financial advisor to assess the potential risks and rewards of the investment. It’s also important to stay updated with the latest developments in the cryptocurrency industry and closely monitor the cryptocurrency’s performance.