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Pi Network’s Unverified Balance: What it is, How to Convert to Transferable Balance, and Precautions

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In Pi Network, the Pi coins held by users are managed in three different states. This article provides a detailed explanation of the particularly important “Unverified Balance” and describes the process for converting it to a Transferable Balance.

3 Balance Types in Pi Network

Pi Network has the following three types of balances:

  • Unverified Balance
  • Transferable Balance
  • Migrated Balance (Migrated to Mainnet)

About Unverified Balance

Unverified Balance refers to Pi coins that are in a state where KYC (Identity Verification) has not been completed. This balance occurs in the following situations:

  • Pi coins earned through mining
  • Pi coins obtained through referral rewards
  • Rewards from the Security Circle

Details of the Mainnet Checklist

Completing the Mainnet Checklist is essential for converting to a Transferable Balance. Key requirements include:

  • Submission of identity verification documents
  • Phone number verification
  • Formation of a Security Circle
  • Initial wallet setup

Conditions for Converting to Transferable Balance

To convert Unverified Balance to Transferable Balance, the following conditions must be met[5]:

  • Completion of KYC (Identity Verification)
  • Completion of all items on the Mainnet Checklist
  • 30 days of continuous app usage

Characteristics of Transferable Balance

Transferable Balance refers to Pi coins that are in a state where the following operations are possible:

  • Transfer between wallets
  • Migration to exchanges
  • Transactions with other users

Relationship between Referral System and Balance

In the referral system, rewards obtained from referrers are managed as follows:

  • Until the referrer completes KYC, the rewards remain in the Unverified Balance
  • The mining rate depends on the referrer’s app usage status
  • If the referrer deletes the app, the mining rate may decrease

Optimizing the Mining Rate

To maintain and improve the mining rate, the following points should be noted:

  • Referrers need to use the app continuously
  • Regularly check the activity status of Security Circle members
  • Consider replacing inactive members

Best Practices for Balance Management

For efficient balance management, pay attention to the following points:

  • Continue using the app regularly
  • Complete the KYC application early
  • Check the KYC status of Security Circle members

Common Precautions and Countermeasures

To effectively utilize Pi Network, pay attention to the following points:

  • Select only reliable referrers
  • Check for regular app updates
  • Regularly review security settings
  • Comply with community guidelines

Future Developments and Notes

With the development of Pi Network, the following points should be kept in mind:

  • Regular review of terms and policies
  • Checking for new feature update information
  • Gathering the latest information from the community