Is Pi Network a Real App and How Do You Download It?

Pi Network is a new cryptocurrency platform that allows users to mine and earn Pi coins on their phone without draining battery. The app has sparked interest and debates over whether it is legit or a scam.

This guide examines the legitimacy of Pi Network, how real Pi crypto works, and step-by-step instructions on how to download and begin mining Pi on your phone.

What is Pi Network and Is it a Real App?

Pi Network is a real app and cryptocurrency platform developed by Stanford PhDs and graduates as a means to allow everyday users to mine crypto on smartphones without specialized hardware or high electricity demands. Key features that make Pi Network legitimate include:

Backed by a team of qualified Stanford graduates.
Over 20 million users globally.
Mines real Pi coins that hold exchange value.
No battery drain mining algorithm.
Building an active Pi ecosystem and community.
Free to join andmine Pi on your phone.

While skepticism exists Pi Network operates transparently making it a real platform accessible to users worldwide.

How Does Mining on Pi Network Work?

Pi utilizes both mobile mining and a Social Chain referral system to distribute Pi coins without wasteful proof-of-work mining typical of currencies like Bitcoin.

Each user presses a button once per day on the app to simulate mining rather than draining battery. This mines at a pre-determined fixed rate set by algorithms.
A Social Chain referral process allows earning more Pi coins by inviting trusted contacts to join your earning team. This helps build the Pi community.
Mined coins are added to your wallet and transaction ledger. They are not yet exchangeable while in bootstrapping phase.
Pi aims to become fully operational when enough users join to enable trust, utility, and liquidity goals to decentralize.

Is Pi Network Secure? What About User Data Protection?

Pi utilizes strict security protocols and access controls through the Stripe and OAuth industry standard frameworks used by major banks to help ensure user accounts and transactions remain protected:

Know Your Customer (KYC) controls require identity verification for withdrawing Pi.
Encrypted offline wallets store Pi account information and coins securely.
Application permission scopes are tightly controlled for security.
Partnerships with Stanford Computer Science professors help identify and patch vulnerabilities.
No unauthorized mining or transactions possible due to blockchain ledger tracking.

Multiple security checkpoints and layers aim to keep user accounts and activities protected.

Step by Step Guide to Downloading and Signing Up on Pi Network

Follow these steps to get started with Pi Network:

Download the Pi Network app for iPhone or Android via the App Store or Google Play store. Make sure it is the official “Pi Network” app with correct logo.
Install and open the app and click Sign Up.
Enter you name, phone number, password, and a referral/invite code (optional).
Verify your phone number through SMS verification code.
Confirm details and click Create Account.
Once logged in, click the lighting icon to start mining once daily.
Explore the app and invite/refer friends via your invite code to increase mining rate.

That is it! You are now set up for real mobile crypto mining on Pi Network.

5 Key Questions People Have About Pi Network

Is Pi free to join?

Yes, there are no fees to sign-up, mine Pi daily, or make transactions on Pi Network app.

When will Pi be exchangeable for money?

No timeline yet while the platform is still in beta. The goal is to enable exchangeability after sufficient users join.

Is Pi Network safe to join?

Yes, Pi utilizes security protocols used by major financial institutions to keep account information protected.

Can I leave Pi Network and cash out what I’ve mined?

You can delete your account at any time but cannot yet convert mined Pi coins to cash or cryptocurrency while in beta phase.

Who created the Pi Network app?

Pi was founded by Stanford PhDs Dr. Nicolas Kokkalis and Dr. Chengdiao Fan along with experienced developers.

Conclusion

In summary, Pi Network is a legitimate app created by Stanford graduates that allows any mobile user to mine Pi cryptocurrency by simply clicking a button once daily. It utilizes innovative mining and security protocols to distribute and protect real Pi coins to holders globally.

While skepticism exists, Pi Network operates transparently and continues working to fully decentralize Pi cryptocurrency. Following the step-by-step download guide makes it easy to get started mining real Pi coins on your smartphone today.