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Community Questions and Answers
Here are the most frequent asked questions in the Community. Please Join Us!
Q1. How can I mine Karma Coin?
A1: You can mine Karma Coin through the app and the KarmaChain protocol. By appreciating other users via the app, and based on actions done on the app, the protocol issues more coins. This process is what we refer to as "Karma Mining".
Q2. How can I purchase Karma Coin?
A2: Currently, there's no known way to buy or sell Karma Coins. However, we anticipate this will change once a significant amount of Karma Coins have been mined through Karma Mining, and the coin's utility has been proven to a large number of people worldwide.
Q3. How do I get more coins?
A3: Express your gratitude to people who've done good for you and encourage them to sign-up to the app and redeem the appreciation you sent them.
Q4. Will Karma Coin get listed?
A4: If Karma Coin demonstrates its real-world utility for a large number of people, it's likely that major exchanges will list it in the future.
Q5. What does it mean to appreciate?
A5: Appreciating someone involves sending a message via the app to anyone with a mobile phone worldwide. The message contains an acknowledgement (like "you are smart" or "you are creative") and a certain amount of Karma Coin. The receiver gets a text message about the appreciation and can redeem it by signing up to the app.
Q6. When do I get my 100 KC rewards?
A6: You receive your 100 KC rewards as soon as the person you appreciated signs up to Karma Coin using the phone number you appreciated them with.
Q7. How can I become a validator?
A7: From late 2023, you'll be able to stake your Karma Coins for the purpose of KarmaChain 2.0 validation. Staking can be done with as little as 1 Karma Coin, and it's secured by KarmaChain, removing the need to trust a third-party organization.
Q8. How can I help the project?
A8: By using the app regularly to acknowledge good actions done for you and encouraging its growth in usage and utility. Make sure to follow up with people you appreciate so they know they received your appreciation!
Q9. Can I invite people to the project without the app?
A9: The vision is for the Karma Coin community to be made up of people using the app in their real-world interactions. We've made the app easy to use on mobile phones, for everyone.
Q10. What is the value of Karma Coin?
A10: The current price of Karma Coin is 2 US cents. This value could change once the currency becomes available for purchase and sale on cryptocurrency exchanges.
Q11. How do I generate my referral link?
A11: There’s no need to generate a referral link. Your act of appreciation serves as the referral. Once your referred person signs up to Karma Coin via the app, they receive your appreciation and your referral reward is issued automatically.
Q12. What’s the utility of karma coin?
A12: Karma Coin aspires to be the global currency of appreciation and tipping. It offers a global method for anyone to appreciate and tip anyone else in the world. As the use of cash decreases globally, Karma Coin presents a more convenient, modern, and global way to tip.
Q13. What are the benefits of inviting people?
A13: Karma Coin is a decentralized cryptocurrency, meaning its value is based on its utility to its users. The more people that use Karma Coin, the more valuable the currency becomes, so inviting people to use Karma Coin is the best way to increase its value.
Q14. Do I need to know someone’s Karma username to appreciate them?
A14: No, you can appreciate them just by entering their mobile phone number and country. To appreciate someone, all you need is either their Karma Coin username or their mobile phone number.
Q15. What if I don’t have someone’s phone number?
A15: Ask them for their Karma Coin unique username and send an appreciation to that username. However, if they sign up without your text invite, you will not get the reward. See the next question for more details.
Q16. I appreciated someone but I don't see my referral reward.
A16: This might mean they didn’t sign up via the app using the phone number you sent an appreciation to. Follow-up with them to make sure they’ve done so. Once they do, you should see your referral reward in your Karma Coins balance in the app. Keep in mind: you only get rewarded 100 Karma Coins for appreciating and onboarding new users. If you asked someone for their username, then they are already part of Karma Chain, and no reward will be issued.
Q17. I am not getting my text verification (signup).
A17: We use Firebase for phone authentication, a robust service used by many popular apps. In most cases, the verification code is delivered to your mobile phone in a few seconds. However, it may take up to a few minutes for the text verification message to arrive or might not be delivered by your phone carrier. If your number has been flagged as suspicious for signing up too many times quickly, just wait a few hours and try to sign up again. Please allow up to a few minutes for the verification code to arrive on your mobile device.