**THIS IS NOT FINANCIAL ADVICE***
I’ve been investing in cryptocurrency since 2019. I have already ridden multiple pumps and multiple crashes. Cryptocurrency is perhaps the most volatile asset of our lifetimes, but with minimal exposure, you can still reap significant rewards.
For those of you looking to diversify your portfolio without having to invest any money, then Pi Network could be an interesting option. Here’s their intro video from YouTube:
The primary benefits of Pi Network are:
- It’s 100% free
- You mine coins via your mobile device
- It doesn’t use a lot of energy
- It operates in the background of your device
- You mine coins at a faster rate as you add friends to your direct network (but only 1 layer deep so it’s not a pyramid scheme)
The questions marks of Pi Network:
- The coins currently have no value (we are just hoarding them)
- The coins are not yet tradable (this will allegedly happen in Phase 3*)
- You have to open the app daily to mine coins
- You have to get friends to join your team to mine at a faster rate (so it feels like an MLM)
*As of now, Pi Coins are not a tradable asset as they are still in Phase 2. Pi Coins are expected to begin trading in Phase 3, which is rumored to be end of 2021 or early 2022. I take this with a grain of salt as I like to manage my own expectations.
I currently have 71 members on my team which means I get to mine at a significantly higher rate. However, you only get a mining boost if those members are actively mining as well. I’ve noticed that roughly 30% of my team is active daily. There’s a feature that enables you gently remind your team to mine. It works, but I think some of my team has turned notifications off as I never see more than 50% participation.
I’ve had the app installed for a little under a year now and I have almost 7,000 coins. If Pi Coins end up trading at $1, that’s $7,000 I’ve generated just by tapping a button daily. If they trade at $10, that’s $70,000. There’s also a chance Pi Coins never have any value in which case my only loss was the time wasted tapping a button daily.
If you’d like to read an extremely honest review of Pi Network before you decide to move forward, this is a great read.
I’ll be honest – I have no idea if Pi Network is going to have significant value in the future, but given that the only investment I made was logging in daily and tapping a button, it’s a risk I’m willing to take. Remember, there was a time when Bitcoin was worth $.01.
If you’ve done your research and you’re interesting in Pi Network, join my team by using code : ADAMFRANCISCO.
Here are the official links.
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