“Pi-cryptocurrency and the wallets”

 

“Pi-cryptocurrency and the wallets”

About pi-cryptocurrency and the wallets that are being produced a big question that comes out that I hear from a lot of people is simply this when wallets are released is there going to be a major mass sell-off.  Of pi cryptocurrency nose diving the value of the currency is that

a big risk and what should we do about it.

 

Well in this BLOG i am going to talk about that i'm going to share with you my thoughts and i'm going to share with you some good news. That's coming out of all of that that i think are beneficial for people like you and me.

 

I am producing BLOG as much as I possibly can around cryptocurrency startups cyber security and technology.

All of the things that interest me and they really do all relate with each other and so

about custodial and non-custodial wallets . To start with custodial and then move to non-custodial as soon as possible.

Custodial wallet or Non-custodial wallet is preferable?

As per my experience and analysis I prefer non-custodial wallet.  I want to handle my own wallet my own keys i can do that but always thinking about the consumer in mind with 10 million plus users many of which are not technical starting with custodial is the way to go. As in case of custodial wallet, one has to share private keys with a crypto owner although it doesn’t charge any fee but in non-custodial currency all the private keys are man handled.

 

Now a big question comes out of this regardless of what kind of wallet when I finally have access to my own crypto and i can do something with it inside or outside of the pi app.

A lot of people are going to want to sell this. That means there's been a lot of speculation in the digital markets.

 

What pie will be worth will it be worth fractions of a penny a dollar hundreds of dollars thousands of dollars?

 There's a lot of wild controversy and speculation which I stay out of in this BLOG but the big  question is simply this i think everybody agrees. If we all get access to our wallets is there going to be a huge sell-off and that is what we're going to talk about that is what we're diving in today.

 

What i think is going to happen there's going to be a staged rollout see i run software companies i've run and sold many sas companies and one thing that we know of and we do this whole world of sas product design is we like to do beta testing. So the case of beta testing we like to roll out some features.

 

Custodial will come out first a selection of users will have it and there's multiple reasons for that one thing you'll see them say is we want to test it but behind the scenes behind the curtains there's another wise reason why we would give it to a selection of users.

Then have a slow rollout from there and it's simply this we want to protect sell-offs we want to protect everyone from saying.

 

Hey i finally have all my crypto and i'm just going to sell it because that's what i was in it in the first place there's nothing wrong with that. If that's why you were in it from the first place power to you the power of cryptocurrency is giving you control.

 

Stage the rollouts of those wallets for slow and protected cryptocurrency

 

First, we need release and stage the rollouts of those wallets and to avoid everybody from doing that. So the number one way that you would do that is you would release and stage the rollouts of those wallets. So that slowly people will get access to them and it's not going to be a major mass sell-off and that's how you protect a crypto-currency.

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How do you even sell pie?

Second thing i want to talk about is this and this one's a really interesting one. How do you even sell pie so there's definitely going to be a few ways that can be done. I mean just one-on-one like i guess you could like agree with other people to sell it but that's not really.

What any crypto-currency wants to happen it's sort of like the days of like bitcoin meetups?

Where you like meet up with someone in person and actually transact a trade just like face to face but that's usually not a good way to go to handle it.

 

Another way that you can transact with pi is going to be in pi has been very upfront about this they want to be a marketplace. They want it to be a place where buyers and sellers can use pi to exchange for goods and services. I can't wait to see the day for that to happen very interest in that would love to see it.

 

Formalized exchanges

Third way is through exchanges so if you're new to crypto-currency and you want to buy crypto for the first time many people just go into like coin-base or kraken or binance or one of those formalized exchanges.

Buy and sell crypto-currency

 They set up for an account and they begin to buy and sell crypto-currency those are through actual exchanges. Now there are decentralized exchanges as well but in this BLOG i'm going to stick with centralized exchanges.

So are we going to see someone like coin-base or voyager adopt and have pie come right out of the gate well.

How does a crypto get into an exchange?

The answer is no in all likelihood probably not so how does a crypto get into an exchange and why should they get into an exchange and could I sell my pie through an exchange. So that's what i want to talk about in the latter half of this BLOG and i want to know what you guys think about all this as well.

 

First of all getting listed with an exchange is highly competitive there are way more crypto-currencies out. There than there are exchanges selling those crypto-currencies and so it's expensive to get added in it costs money. Upfront fees to get added into an exchange

it's not so much of just i created a crypto and now it's on exchange it doesn't work that way just as case in point if you have coinbase go open up coinbase and notice the very limited subset of cryptocurrencies that they have they add a few every quarter.

 

 

 

 

But it's not like there's hundreds and hundreds and hundreds to choose from and even exchanges like voyager which are well known to having a much wider range of cryptos by no means. Even have one percent of the number of cryptos that are out there so, how does that process work well first of all it's really expensive it can cost a fair amount of money getting listed on an exchange. For example like small exchanges that aren't very well known it can be anywhere from three to ten thousand dollars minimum.

medium exchanges

 

Kraken or a coin base or a voyager

Just to get added into an exchange and keep in mind that would be a small exchange but there's not a lot of people using it won't be a lot of fees a lot of transactions and then medium exchanges that are not quite a kraken or a coin base or a voyager.

 

Coinbase kraken binance voyager those sorts of exchanges those can cost eight figures up to two

and a half three million dollars just to get listed. Now why that is well there's a lot of reasons exchanges obviously.

To make profit on fees for transactions but they also make money in the very beginning in the listings. This is a way to sort of protect cryptocurrencies and say we only want well-known top-shelf cryptos into our ecosystem. That's the way exchanges think they don't want to waste their time with fraudulent fake, small cryptocurrencies.

Anything that doesn't have the value for them and so for pi they're going to go through the same thing to get listed on an exchange. It's going to cost a fee to get added in its going to take some work for that to happen that's the way it is for all crypto-currencies to get added in.

 

By the way we do know there are significant advantages for pretty much any cryptocurrency to get listed on an exchange in two ways.

Consider price jumps and cryptos

First of all you go look for example at coinbase and look at price jumps and cryptos right after they've been released into a new exchange in many cases.

There's a positive correlation the article that i mentioned even shows litecoin when it was first listed on coinbase had a 25 jump in price and so there's certainly. There to get listed on exchanges increases the value of that cryptocurrency.

Exchange lists and selling your crypto-currency

Second thing is there's also positive correlation the number of exchanges listing and selling your crypto-currency the more legitimacy it gives to it, the more opportunities for trade the more opportunities for that price to grow in value.

 

Because there's a greater market of buyers and sellers coming together for a cryptocurrency and so there is certainly without doubt. A lot of value in being listed in an exchange and those are the things that pi are going to have to go through to be listed on. Some of these centralized well-known exchanges and again that's also going to take some time. So don't be surprised to see

wallets come out for there to be a slow roll out of those wallets but even when that happens

you're not going to have a place to just go and sell it right away at least not in reputable places and that's something which is really going to pay you off.

Frauds are in the air

Because you should keep in mind because fraud will definitely be rife and i'll cover a future BLOG on like how to avoid fraud. When wallets are first released but that is going to be the experience that i see is going to happen it's slow roll out of wallets.

 

 

It's going to take some time for us to see pi listed on exchanges but i do think this without doubt pi is going to be listed in a number of exchanges. There are simply too many active users for that not to command the respect and attention of exchanges. But it will take time for the listing to happen and many of the exchanges have a significant due diligence and vetting process of the crypto itself.

All have to take place before we see these things happen but they're all good things and so that's my thoughts that's my experience and what i think it's going to happen when wallets are

 released but i want to know what you think.

You think differently than me am i wrong on some things you do totally agree what are the things you're most excited or most confused about for wallets being released when that

happens inside of pi crypto… Leave me your comments guys i'd love to know i'd love to know what you think on this and so much more thank you guys for watching have an awesome day………….