Home Getting Started Intermediate Usage Article
In this article you will learn how to convert PHI into anything you can imagine.
First we will cover the concept of peer to peer transactions.
Peer to peer means you can send from one person to another.
Learn more about what peer to peer networks are here
The fastest and easiest way to convert PHI into $Fiat is to send your PHI to someone who wants to buy it and have them send you the fiat currency you are looking for in return.
As the community matures there will be more ways to convert PHI into goods and services as well as other $Fiat Currencies.
As this works for converting into fiat currencies the same principle works for getting any good or service for your phi.
If someone has something you want you can send them PHI on network instantly for free to their account and they can give you what you paid for.
Currently in development and will be rolled out January 2022 You can use services like phiescrow.com as well as phiconomy.com to buy & sell using phi.
Another way to get fiat currency is to have someone who wants to buy PHI send you a crypto-currency like BTC then you can convert your BTC on centralized exchanges for the Fiat you would like.
You can use phi.holdings wallet to transact PHI in a decentralized noncustodial trustless peer to peer manner on phi smart chain. Make sure to save private keys to secure your funds.
You can use phi on phi.network custodial solution where it is free to send, receive, exchange and send to users via username it’s easier for new users to get familiar and comfortable using cryptocurrency. Phi smart chain is for more advanced users who are more familiar with how decentralized noncustodial economies work.
As PhI Network builds the demand for PHI as a community and the demand increases with use of the network effect More people will want PHI for Fiat & other cryptocurrencies and it will become very easy to liquidate into what ever you want peer to peer in a decentralized manner.
In the Early stages of any peer to peer network it is on the ingenuity of the community members to create and provide liquidity.
For Large holders of PHI You can become a liquidity provider. There are many things you can do online and offline to help build PHI and make money for yourself.
You can for instance provide your PHI as liquidity to exchanges and contact exchanges to get PHI listed.
PHI is still very young and just like when BTC was very young there where no big centralized exchanges with millions of dollars of liquidity until there was enough adoptions and the community members built liquidity solutions. Just like with BTC it is up to the community members to build liquidity situations for other members the more option we get the more liquidity solutions PHI will have.
The more PHI gets adopted by more and more people the easier it is to use in a peer to peer manner on the network. invite your friends and community members and exchange start transacting PHI with each other instead of your usually currencies and watch how fast we build our own ecosystem.
It is up to the community to make this happen. PHI is owned by the members.
You can create your own exchange and use your PHI as liquidity to buyers and earn transaction fees.
You can become a liquidity provider in the DEX exchanges.
Also offline there are many opportunities for instance creating a PHI ATM Machine funding the machine with your PHI and collecting transaction fees when someone buys PHI from the machine with what ever currency you want.
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