Disclaimer: Many mobile mining apps are not actually mining, and are instead, trading their currency for your app information, location information, contacts, etc. etc. Keep this in mind at ALL times when you are interacting with any and ALL free apps, crypto, etc. Nothing is truly free. I will do my best to provide detailed information and reflections after 1 month and 1 year for each of these free opportunities! If you're skeptical, check back and ask questions, and remember, always always DYOR. I am primarily installing these and using them to see their earning potential, whether or not they seem legitimate, and to provide you guys with information based on my own experiences with these apps. Some will be scams. Some will not be worth anything. Some will fail. These are not necessarily recommendations for investments
So let's start with some other, truly free ways to earn cryptocurrency of different kinds on a phone, I will be creating initial articles of these different options, and then, 1 year from now, I will reflect on how these went in a supplemental article. You can follow along with me if you like, and I encourage you to! I hope these fall in line with what people might be looking for, trying to find low-cost or free entries into cryptocurrency.
So, do you want a free way to mine cryptocurrency on your phone? Just click once and passively earn throughout the entire day? You should check out Pi Network.
No, not Pie Network.
But it might almost be as good as pie for those of you looking to earn free crypto!
What is it?
Pi Network is a mining app focused on the currency Pi, a scarce currency that will be mined in short supply until a certain amount users join, at which point mining will stop and Pi will become a capped currency. During this time frame, you may mine on your phone, simply by tapping mine every 24 hours. Initially you will earn about 0.1 Pi per hour, however, as you increase your network you will gain additional bonuses to this number.
Is this legit?
As far as anyone can tell, Pi Network appears to be legitimate, it's definitely trying to do something. That being said, this currency will only have value if people choose to value it. I have seen expectations for Pi ranging from micro fractions of a cent all the way up to a dime or even a dollar when it finally gains a value. I highly doubt it'll be worth more than a cent initially, IMO, but from there, its growth potential will depend on adoption and scarcity. This means that there is some risk here, in that you will be receiving a currency which could vary greatly. Of course, you're getting that currency for 'free' (Keep in mind that no matter what anything says, nothing is really truly 100% free, in this case you're housing an app on your phone and seeing ads, and likely giving them location information and cookies).
It should also be noted that the currency is not currently listed on any exchanges. This is important, as it being listed on an exchange will be a major factor in whether or not it amasses value. (For instance, imagine if it made it onto Binance? That would be worthwhile almost instantly.)
There is always a possibility of a scam, but I would think this project's connection with Stanford has the reputation of the school staked on it, and as such, it is very likely that this project is legitimate. That being said, it can be legitimate and still fail to obtain and hold value, scarcity, and functionality, which may also happen.
How Can I Join?
Pi can be downloaded via the app store. If you would be so kind, consider signing up via my referral link here. OR you can use my username when you sign up as a referral code "TimmyTuShoes". Doing so will instantly give you 1 Pi (half a day's worth of mining) and you will be able to add me to your security circle later on in your earnings, increasing your 0.1 Earnings to 0.15 very quickly. This is crucial to amassing more Pi before the well dries up, so to speak. If you do not wish to join via my referral link, it's very easy to just find the app in your respective app store, on Android or iOS. As you can see from the screenshot, I have accumulated about 60 Pi just checking in each day for a couple weeks now.
Joining sooner will net you a larger amount of PI, and the potential to use it on exchanges and trading for other cryptocurrency will be attractive to anybody looking for free, cheap, or easy entry points into cryptocurrency. I recommend joining ASAP
Why Join Now?
Okay, so, PI is a finite currency. As you see in the screenshot, there is a graph stating that at each launch, the base 'pay' for mining will be reduced by 50%, and after a certain point, New members will no longer be accepted to the pi network. You can see this in the TBD section of the graph, which starts after 100M Users, we are currently at 17M. That may seem like a lot, but everytime those 17M refer 1 person, there's 17M more people who might refer 1, 2, or 3 people! It will go by very quickly at the exponential rate it has been growing. This means if you're doubtful but still curious, you should jump on the train before it leaves the station.
Do I believe Pi will have value?
Yes and no. It really depends on the legitimacy of the team, whether or not it gets listed on an exchange, and how much of a cap/scarcity it has. This, I believe, is what will generate a large deal of its value, outside of the massive adoption of new users recently.
There are multiple things that could happen between now and its eventual cap and release that could ensure its value, or ensure it's valueless. Regardless, I believe that it's likely a good decision to mess around with if you are a micro investor or somebody who wants to get their hands on free crypto. If you are not either of these two types of people, this currency may not be worth the effort, or you may be skeptical about allowing the app to see your information. This project focuses on accessibility, and is attempting to make cryptocurrencies more easily accessible for the average person.
Likewise, there is the possibility that Pi will not go to exchanges. This, I believe, will almost certainly drop its potential payout and see extremely limited uses of the currency. Also, currently, the App doesn't provide much value, and until it does, it's unlikely that the currency will move in a positive direction. That being said, if it DOES start to create value, you will almost certainly be too late to the party to see any return off of it.
Do I recommend INVESTING into Pi?
No. I am not advising you to buy Pi when (if) it hits exchanges, nor am I implying that Pi will make anybody rich. You are not very likely to make a lot of money off of Pi, but there is absolutely potential to make some money. There is of course, also the potential to make no money. I do not think there's enough information, backing, or stability in Pi to even come close to suggesting this currency is a good idea to do anything more than mine for free.
This is a project which can benefit many micro investors and people looking for free ways to get their foot into the door of different crypto exchanges and begin trading for small amounts of Crypto, and that is who I recommend this project too. As long as Pi goes to an exchange, you will be able to convert it into any currency of your choice, which may be more profitable or stable in the long run, depending on your specific needs.
If you liked my article, please tip or follow! If you have any questions, comments, concerns, or requests please comment! Thanks again for taking the time to read my article! If you're one of the first to read this, and you sign up through my referral and comment with your username, I will add you to my security circle on Pi Network, further boosting your Pi rates!
If I have any other Mining related articles, they will be found here in a series of links down below. Unfortunately, this is the first one, so there will not be anything here initially! I will be doing at least 5 currently! Expect a new one soon and give me a follow if you'd like to find more free or cheap ways to get involved in the NFT and Crypto space.
Check out my new article on Bee Network, an app VERY similar to Pi Network where you earn BEE each day!
You can also check out Reflex Cloud Mining here, where you can mine every 3 hours. This one is worth about .003 per token, which isn't much but it IS listed on UNISWAP
Check out Midoin Mining here!