IS IT POSSIBLE TO EXCHANGE PI WITHOUT KYC?

 

I have been battling with this question on my mind for sometime now and had hesitated writing about it until my last write-up on "Nigerian π Barter System" when some Pioneers popped that same question in response to the post. They posited that it's not possible to receive or send Pi without KYC, this has necessitate this particular write up and God willing I will try and address it.

Haven spoken with a merchant who asked me a question whether I had done my KYC and I said yes I am done and my Pi is in my wallet, to my surprise the merchant said she is still waiting for KYC before she starts accepting Pi after doing some adverts. That was the beginning of conceiving the idea of putting this up to educate fellow Pioneers about the subject. Question is, why would you put up advert claiming to receive Pi in exchange of goods and services if you knew that without KYC you can't transact? This also would be addressed here.

Like the case of the merchant I mentioned above, we probably have a lot of merchants who want to delve into this but are restricted to this particular thought 💭 of "I haven't done my KYC or I am still waiting for KYC before I start." Do you really want to know the truth?

For those that started mining ⛏️ earlier and especially when the Pi Core Team released the news about creating of Wallets, if you remember, we were all asked to created wallets and aside that, the PCT gave each Pioneer free test Pi you remember? And they also encouraged Pioneers to test the transaction and see how it works. Now I know for most of you that had done this exercise, your memory is being refreshed. Remember that it was after the exercise that we moved to other stages or phases of this project. This explains why for every wallet you create you will see 100 free Pi for test in the wallet. Was there any KYC then? No! It was way much later that KYC was introduced into the project.

So, back to my conversation with the merchant, I called the merchant the next day and told her that she doesn't need KYC to receive Pi and I told her to experiment 🥼🧪 with a fellow Pioneer close to her with free test Pi Simple!

I must say that the PCT had done a very good job by introducing both Lock 🔒 up and KYC to the project. But here it is, you don't need KYC to receive and send Pi to and from your pi wallet as a merchant. What I mean is as a miner, you will first of all be required to KYC before you can access your mined Pi, but if you want to sell goods and services, you won't necessarily need to be kyced, anybody who has completed his/her KYC successfully and has his/her Pi migrated can send you pi into your wallet. So if as a merchant you create a wallet and want to transact business, you can go ahead, the only Pi you can't access at that material time is the one that you mine yourself.

So, if I may ask, Is it possible to exchange Pi without KYC? The answer is emphatic YES! You can.

I hope this helps and answers the question above. I remain yours sincerely,

Note: it isn't a must to believe this but you are at liberty to experiment with the test pi which every pioneer has with the Creation of the Wallet.