How to buy and sell Pi Coin easily with Banxa?

A company called Banxa is now working with the Pi Network to help Pi Pioneers easily convert Pi coin into real money (fiat) and also buy Pi using fiat.

This means that Pioneers can soon send their Pi to Banxa and receive money directly in their bank accounts, or use Banxa to purchase Pi using methods like credit cards, bank transfers, or Apple Pay.

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Let’s break it down so you know why this matters and how it works, step by step.

What is Banxa?

Banxa is similar to the “PayPal of crypto” but more advanced. It enables consumers to purchase and trade cryptocurrencies using ordinary money (such as USD, EUR, or INR) via secure payment methods like bank transfers, credit/debit cards, and Apple Pay.

What makes Banxa stand out is its full regulatory compliance. It follows strict laws like KYC (Know Your Customer) and AML (Anti-Money Laundering). This ensures that all transactions are legal, secure, and safe for users across many countries.

Now, Banxa is joining forces with the Pi Network. It has already acquired 30 million Pi coins to provide enough liquidity, making it easier for Pi Pioneers to buy Pi with fiat or sell their Pi and receive real money in their bank accounts.

This partnership acts as a fiat on-ramp and off-ramp for Pi, bridging the gap between traditional banking and the growing Pi ecosystem. It’s a big step toward making Pi a real, usable currency in the global economy.

How Will It Work? (Step-by-Step Guide)

Here’s how Banxa + Pi Network will work for everyday users:

Step 1: Integration into Pi Network

The Pi Core Team connects Banxa to the Pi app, Pi Browser, or third-party Pi apps using API or widget tools. This means Pioneers can use Banxa services right from inside the Pi ecosystem – no need to leave the app.

Step 2: KYC Verification

Before using Banxa, users complete a quick KYC (Know Your Customer) process for safety and legal compliance. If you’ve already done KYC in the Pi app, this step will be faster and easier.

Step 3: Buying Pi with Fiat

Want to buy Pi? Just choose how much you want (e.g., $50 worth), pick your payment method (card, bank, Apple Pay), and Banxa will send Pi to your wallet.

Step 4: Selling Pi for Fiat

Want to exchange Pi for actual money? Input how much Pi you would like to sell, along with your bank details, and Banxa will perform the conversion and transfer cash into your account.

Step 5: Virtual Accounts for Businesses

Merchants and marketplaces can use special virtual accounts to track payments in Pi from different customers. This helps with accounting, cash flow, and makes Pi more useful for real businesses.

Advantages of Banxa for Pi Coin Holders

Banxa brings major benefits to Pi Coin holders by making it easy to convert Pi into local currency and vice versa. Users can now enter and exit the Pi ecosystem more smoothly, buying Pi with their currency and withdrawing it as fiat when needed, all within a legal and secure setup.

Since Banxa adheres to strict KYC and AML guidelines, everything is safe and compliant in terms of transactions, thereby lending trust and credibility to Pi. This makes Pi coin more appealing to users, businesses, and even upcoming exchange listings. It also reduces the entry barrier for new users who are not well-versed in crypto.

To businesses and developers, Banxa integration implies easier payment monitoring using virtual accounts and the capacity to accept Pi in exchange for receiving fiat. Developers can further create apps with in-app payment tools to make the Pi ecosystem more functional and better prepared for actual-world use.

The integration of Banxa into the Pi Network marks a pivotal moment in Pi’s journey toward mainstream adoption. By enabling seamless fiat conversion, it enhances Pi’s real-world utility, making it more accessible and secure for users. With strong regulatory compliance and global payment capabilities, Pi is evolving into a viable, trusted currency for the masses, ready to facilitate exchanges anywhere, anytime.