Nguyen Tam of Hanoi said he bought a used laptop from an electronics store in Hanoi last Friday with Pi. The device, costing less than VND10 million (US$420), was sold for 200 tokens, he said.<\/p>\n
Nguyen Luong, the owner of an electronic store in Hanoi, said he has started accepting Pi as payment for laptops.<\/p>\n
“Almost a dozen people have bought from me this way.”<\/p>\n
Some others also said they have bought food and equipment using Pi on social media groups since July 13, when its developers allowed it to be traded.<\/p>\n
![\"An](\"https:\/\/vcdn-english.vnecdn.net\/2022\/07\/22\/1-1658452607-3701-1658452645.jpg\") <\/td>\n<\/tr>\n |
| \n An investor claims to buy an old laptop using 200 Pi token on Facebook. Photo courtesy of Facebook<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Some even claimed to have exchanged Pi for money, with a token worth almost one U.S. dollar.<\/p>\n Users who have been e-verified could transfer Pi with each other, Phien Vo, administrator of Facebook group Pi Network Vietnam, said.<\/p>\n “Pi holders can only exchange the token for goods and services, not other cryptocurrencies.”<\/p>\n Prices are negotiated between parties since there is no value fixed yet for the cryptocurrency.<\/p>\n Some even believe the token could be worth thousands of dollars. For instance, one person claimed he sold his mutant orchid for 2.1 Pi equivalent to $20,000.<\/p>\n Risks<\/strong><\/p>\n Cryptocurrencies are not legal tender in Vietnam, and issuing, trading or using one for payment can be fined up to VND100 million.<\/p>\n Scams too are possible, an administrator of a Pi group warned.<\/p>\n “Some say they accept Pi as payment for high-value goods, but do not respond to orders.”<\/p>\n It is merely an advertising ruse, he said.<\/p>\n “Others demand upfront payment and then disappear once they receive the token.”<\/p>\n Pi has attracted a lot of interest in Vietnam as it claims to be a cryptocurrency that can be easily mined using smartphones, and the app, Pi network, has made it to the list of most downloaded apps in the country multiple times.<\/p>\n Pi has yet to enter the open mainnet phase, so has yet to be listed on any cryptocurrency exchange.<\/p>\n Experts have warned that it could be a scam as little information regarding the projects is revealed to the public.<\/p>\n<\/div>\n window._io_config=window._io_config||{};window._io_config[“0.2.0”]=window._io_config[“0.2.0”]||[];window._io_config[“0.2.0″].push({page_url:”https:\/\/e.vnexpress.net\/news\/industries\/cryptocurrency-pi-has-become-legal-tender-investors-claim-4489938.html”,page_url_canonical:”https:\/\/e.vnexpress.net\/news\/industries\/cryptocurrency-pi-has-become-legal-tender-investors-claim-4489938.html”,page_title:”Cryptocurrency Pi has become legal tender, investors claim”,page_type:”article”,page_language:”en”,article_authors:[],article_categories:[“Industries”],article_subcategories:[“Industries”],article_type:”longread”,article_word_count:”101″,article_publication_date:”Fri, 22 Jul 22 01:07:24 +0000″});(function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(d.getElementById(id))return;js=d.createElement(s);js.id=id;js.src=”https:\/\/connect.facebook.net\/vi_VN\/sdk.js#xfbml=1&version=v2.0″;fjs.parentNode.insertBefore(js,fjs);}(document,’script’,’facebook-jssdk’)); Nguyen Tam of Hanoi said he bought a used laptop from an electronics store in Hanoi last Friday with Pi. The device, costing less than VND10 million (US$420), was sold for 200 tokens, he said. Nguyen Luong, the owner of an electronic store in Hanoi, said he has started accepting Pi as payment for laptops. 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