Pi Network Legitimacy:
Pi Network is a real cryptocurrency project launched in 2019, and is currently in its **closed mainnet** phase (not fully decentralized or tradable on major exchanges). It focuses on mobile mining and building an ecosystem of services. However, its long-term success is not guaranteed, and users should be careful.
Yes, the Pi Network project is real, but it is still controversial. The project has been around since 2019 and has an official app and millions of users, but the coin has yet to be fully launched on the public markets.
Strengths:
✔️ Real network: There is a real development team, and millions of people are using the app.
✔️ Possibility of mining via phone: It does not require specialized devices or high power consumption.
✔️ Mainnet launch plans: Steps have been announced to move to the actual trading stage.
Weaknesses and Concerns:
❌ The coin is not yet traded on the open market. Despite the talk of “Mainnet closed”, the possibility of transferring and selling is still limited.
❌ The referral system is similar to pyramid marketing. It relies on bringing in new users to increase profits, which raises doubts.
❌ There is no clear information about the actual value of the currency. The current trading price is based on external platforms and not on an official market.
Conclusion:
The project is not an outright scam, but it has yet to prove itself as a freely tradable digital currency.