Pi Network participants, here’s everything you need to know about the wallets about to be unveiled by the core team to avoid error.
Concerning Pi Wallets
There are two types of wallet
Non Custodian $ Custodian
Non Custodian wallet is like a small box save you hide under your bed, wardrobe or inside your ceiling or like money in your wallet. Here you control your funds, you decide where to keep it and how to spend it.
NB: but is digital in nature, having private keys for funds transfer. If you lost this key or forget them my dear forget your Money and find another work to get money🙆🏾♂️.
Custodian wallet is like our bank account where we give bank to hold money for us, I might forget my ATM pin I will go to the bank support to get everything working again. Custodian wallet are third party wallet like Luno, Quidax, Roqqu, trust wallet etc.
Charges benefits for both wallets
Custodian wallet charges is very very high as luno might decide to place a unit pi for $100 while Quidax might place 1pi for $105
NB: BTC hits 19million last month that is just custodian wallet price but the real worth might just be 18.5million so they are having 500k gain.
Non Custodian wallet charges are very small which are also called gas price charges for digital asset.
Non Custodian don’t support Fiat exchange like converting Pi Coin to money into your bank Accounts.
NB: Else if core team decide to promote that which is inpossible because crypto currency are meant to be standalone.
Custodian wallet that is the major reason they are created, you will pay for charges to withdraw to transfer.
NB: you can have both
Non Custodian you are the police and army of the wallet.
Custodian wallet when you lose your password or keys your can get it back as the third party services is created for such inconvenience.
Buying Goods Online with Pi
Non Custodian wallet is the best, no trace but their is no online witness.
But is ok as buying and selling using digital assets are swift going.
Custodian wallet my brother and sisters charges will nearly be equal with the goods you are buying online.
But their is a Witness (Third party wallet)
Flexiblility for both wallet
Non custodian is light and flexible because is the only money in your wallet let say a Nigerian Note currency.
Custodian is heavy and flexible because you have other crypto currency in the wallet like BTC, ETH, Pi, Xrp etc
Which helps for check and balance.
Lastly, on issues of VERIFICATIONS on Pi Network in cases of Phone No and Facebook Verification.
Phone Number Verification is pertinent and Sacrosanct to be verified by all pioneers because it create easy connection for OTP generations when mainnet is reached.
NB: When Verifying your Phone Number make sure the sim card is inserted in the device you are using to mine pi, don’t generate the Code and use your other device to send the message.
Facebook Verification: some pioneers finds it alarming and improper to link their precious Facebook accounts to Pi Networks.
Facebook Accounts are statutory initiated to this wonderful pi Network project to show you are human mining pi and Not a Bot.
General KYC is the second phase milestone to be accomplished so criteria on your Facebook activities will be considered.
(Those PhD holders are too very busy to use your Facebook account to do rubbish)
Phone Number Verification ✅
Facebook Verification ✅
One Love pioneers❤️