Pi Coin price drops by 4% to $0.42 amid reports of transaction failures. This situation arises from the introduction of the new 'Buy' feature in Pi Wallet.
Pi Token Transaction Problems
Since the launch of the 'Buy' button, users in Vietnam and other regions have reported that their fiat was debited, but no Pi tokens appeared in their wallets even after four days. This prompted growing anxiety, with many assuming something had gone wrong at the backend or fearing their funds were lost.
Clarifications from Onramp Money
Onramp Money released a statement today confirming that the Pi Wallet integration is still in progress. The company asked users to stop making new purchases until the official launch, expected in the second or third week of August. They promised that all pending transactions will be processed once the system goes live.
Premature Activation of the 'Buy' Feature
The issue started after Pi Network quietly activated the 'Buy' button inside its wallet, allowing users to purchase Pi using credit cards, Google Pay, and more via Onramper and Banxa. While the feature was seen as a step toward real-world usability, many criticized Pi for rolling it out before backend integration was fully ready. Some believe the buy option should have remained inactive until the August launch.
Despite the hiccups, Pi Network is pushing forward. Its partnership with Onramp Money enables pioneers to convert Pi into 25+ local currencies, aimed at bridging cryptocurrency with traditional banking.
