The Pi cryptocurrency is a project developed by the Pi Network team with the aim of creating a digital currency that can be easily mined from mobile phones. Launched in 2019 by Stanford graduates, the project has gained a significant user base, especially in developing countries where traditional cryptocurrency mining can be costly.
2. Current Status of Pi Network
The Pi coin has not yet been fully launched into the open market.
It is currently in what they call the 'Enclosed Mainnet' phase, which means transactions are only allowed within the Pi ecosystem and not on external exchanges.
The Pi team has indicated that the launch of the 'Open Mainnet,' where Pi can be freely traded, will take place once certain conditions are met, such as mass KYC verification and data migration to the mainnet.
3. Is Pi on Binance?
Officially, no. Binance has not listed the Pi cryptocurrency on its exchange platform to date.
In December 2022, some exchanges like Huobi and XT.com announced Pi trading pairs, but the official Pi Network team disavowed such listings, warning that they do not reflect the real currency and may mislead users.
Binance, for its part, has been cautious and has not offered support or listed any Pi token, likely because the project has not yet launched a fully functional and open version of its network.
4. Risks and Recommendations
Investing in unofficial Pi tokens on unapproved exchanges involves a high risk of fraud or loss of funds.
Until Pi Network officially announces its integration with reputable exchanges like Binance, any 'Pi coin' circulating outside the official ecosystem should be treated with caution.
Users should inform themselves through the official Pi Network channels before engaging in transactions with the cryptocurrency.
5. Future Prospects
If Pi Network launches its Open Mainnet and meets regulatory and technical standards, there is a possibility that it will be considered for listing by Binance.
Binance has rigorous review processes for new coins, and only the most reliable ones with significant volume manage to get listed.