How to Purchase CampusCoin (CMPCO)
New to the cryptocurrency world? No problem – here is our simple video guide on how to turn fiat currency into CampusCoin as well as the options once CampusCoin is purchased.
How to purchase CampusCoin using an exchange
How to Purchase CampusCoin without an exchange
Please note: Purchasing CampusCoin with Litecoin is currently unavailable.
What is a Cryptocurrency?
A cryptocurrency, or digital currency, is essentially a digital medium of exchange that can be spent via the Internet. In more depth, cryptocurrencies are restricted entries into a database that are created using cryptography rather than people or banks. All of these entries are shared over a peer-to-peer network known as a blockchain.
A blockchain is a public ledger of transactions, more simply put, a receipt of transactions that can be seen by the public. This public ledger works as a fraud prevention device, as it prevents digital currencies from being spent twice or being counterfeited. Every user on the network has access to the transactions that have occurred on the network. This allows for the entire history of the transactions made using a respective cryptocurrency to be seen by anyone. The public ledger also allows for the balance of any account to be visible by all on the network, though the identity of the owner is kept anonymous.
Cryptocurrencies are able to accomplish what a bank offers while also offering anonymity and decentralization. Each entry on the network is represented by a respective number of tokens (different with every currency, as each has a different value, total supply, usage etc.). Tokens are generated using a computer program that works to find the next block in the blockchain.
The people running this program are known as miners. The mining of the token secures the network and confirms transactions. The blocks found by miners are solved by programs that are essentially cryptographic puzzles to discover new blocks. The hash connects, or chains, the new block with all previous blocks, creating the ledger and securing the transaction. This is where the term blockchain was derived from.
The value of each cryptocurrency comes from their respective networks and the value in which the members of that network decide to trade the coin at.
Benefits of Cryptocurrencies
- Irreversible Transactions: After a cryptocurrency is sent from one location to another and the transaction is confirmed, the transaction is irreversible. This acts as a form of fraud protection as there is no chance for chargebacks to occur.
- Anonymity/Decentralization: Rather than a centralized bank, cryptocurrencies are stored in offline wallets that can only be accessed using the computer in which the wallet is downloaded on. These wallets may also possess a security code that is only known by the owner. Wallets are represented by randomly generated address that can be changed repeatedly, thus making it nearly impossible to link a wallet address with an identity. Though a public ledger of transactions on the network can be viewed by anyone, these ledgers are not connected to any single person’s identity directly. Different altcoins have varying levels of anonymity. Each wallet is essentially its own bank in charge of how and when its currency is spent.
- Globally Accessibility: Entries on the network are broadcast over the Internet immediately and a confirmed in a short period of time, generally just a few minutes.
- Security: Cryptocurrencies are very secure. The use the latest cryptographic techniques, which are essentially very complicated math equations, in order to maintain a high level of security.
- Controlled Supply: These currencies have a finite number of coins that will ever be created and once all have been produced no more can be made. Counterfeiting and double spending of coins is also made more difficult because of this. This is unlike cryptocurrencies fiat counterpart, which can be printed at will by the government who owns the fiat.
Disclaimer: These are very basic descriptions of cryptocurrencies, blockchains, and mining. Those with experience in the cryptocurrency world will find this information redundant.
Blockchain Related Questions
What is blockchain?
A blockchain is a digital distributed ledger that uses cryptographic techniques to storetransactional data about a cryptocurrency. It is distributed to each user of the blockchain tocheck the validity of every transaction.
What is a cryptocurrency?
A cryptocurrency, in its most basic form, is an online currency utilizing blockchain,cryptography, and a peer to peer network.
What is a Satoshi?
A Satoshi, named after the anonymous inventor of Bitcoin, Satoshi Nakamoto, is the smallestunit of measurement for a Bitcoin. It is equal to one hundred millionth of a Bitcoin, or0.00000001 BTC
What is a peer-to-peer network?
A peer-to-peer network describes a system in which two or more devices are connected andshare resources without going through a central server.
What does it mean to be decentralized?
Decentralization is the process in which powers, people or things are distributed or dispersedaway from a central location or authority.
What is mining?
Mining is the action of using computing power to verify transactions and, in turn, add themto a public ledger. New tokens are created and given to the miner in the form of a blockreward.
What is a block reward?
A block reward is the amount of a given currency that miners may claim as a reward forcreating a block. The block reward is equal to the sum of the block subsidy (newly availablecoins) plus the transactions fees paid by transactions included in the block itself
What is a cryptocurrency fork?
A cryptocurrency fork is a term that refers to the splitting of a blockchain into two separateblockchains. The most popular example is the fork of Bitcoin that lead to the creation ofBitcoin Cash.
Are there different types of crypto-forks?
Yes, there are two types of forks: Hard Forks and Soft Forks.
What is the difference between a hard and soft fork?
Hard forks involve the permanent divergence from a current blockchain. The new blockchaindoes rejects the transactions of the old blockchain and both follow separate rules. Soft forks, onthe other hand, involve a reversible divergence from a blockchain. The new blockchainrecognizes transaction from the old blockchain so long as it follows the new blockchains rules.
General CampusCoin Questions
Who created CampusCoin?
CampusCoin was created by our CEO and Founder, Matthew Leonard.
Where can I find more information on CampusCoin?
You can find all the CampusCoin related information you need on our official website. Youcan also join the team Discord or Telegram channels, where the team is always available toanswer your questions.
What is the main goal of CampusCoin?
The main goal of CampusCoin is to facilitate the integration of a cryptocurrency on campusesacross the globe by spreading the knowledge needed to comfortably and confidently adopt thisnew financial infrastructure.
Is the use of CampusCoin legal?
Yes, CampusCoin is legal to use in any location that does not specifically have a ban oncryptocurrencies. Please check your local, state, and national laws prior to usage.
Why should I adopt CampusCoin?
CampusCoin offers benefits to students, schools, and businesses alike. Check out the home pageof our website to see all the benefits CampusCoin has to offer.
What are the advantages of CampusCoin?
The advantages of CampusCoin can be found on the homepage of our official website. Refer tothe section (whether Student, School, Retail Store, or Parent) that best fits your target.
What are the disadvantages of CampusCoin?
CampusCoin currently has only a small yet growing presence in offering global awarenesssurrounding cryptocurrencies. . This is why education in this space is important.
Do people use CampusCoin today?
Yes, people do use CampusCoin today. We have currently have 167 schools in 32 countrieswith Ambassadors just like me.
Can you make money with CampusCoin?
Yes, you can. Ambassadors of CampusCoin are eligible to our Rewards Levels System thatcompensates the Ambassador for the promotion of CampusCoin on their campus.
What are CampusCoin’s tax implications?
Please refer to your local, state, and national cryptocurrency laws for more informationconcerning CampusCoin tax regulations.
Does CampusCoin unfairly benefit early adopters?
No, the original adopters of CampusCoin are subject to the same regulations and standards asnew adopters.
Isn’t speculation and volatility a problem for CampusCoin?
Currently, like with all new entities, speculation and volatility are issues, but these issues willnormalize as the total number of CampusCoin users continue to increase.
Mining Related Questions
Can you mine CampusCoin?
Yes, CampusCoin can be mined by any device capable of mining the scrypt algorithm, thoughASIC miners work best.
What methods of mining does CampusCoin offer?
CampusCoin currently only offers proof-of-work mining, though proof-of-stakeimplementation is planned by 2019.
What is proof-of-work mining?
Proof-of-work mining involves the utilization of the computing power from a miner’scomputer to verify transactions and locate the next hash in a blockchain. When the block isdiscovered, the miner who solves the block is rewarded a set amount of the token.
What is proof-of-stake?
Proof-of-stake involves users validating transactions with tokens they hold in their wallet. Themore tokens a user holds, the more likely they are to find the next block and earn the reward.
What kind of algorithm is used for mining?
CampusCoin uses the scrypt mining algorithm.
What is the best way to mine CampusCoin via Proof-of-Work?
The best way to mine CampusCoin is to use the newest ASIC miner that can mine the scryptalgorithm and direct it towards a CampusCoin supported mining pool.
What is a mining pool?
A mining pool is a term describing a group of miners who combine computing power to solveblocks. The miners in the pool split the reward based on each user’s computing power.
Are there any mining pools for CampusCoin?
Yes, a list pools that are supported by CampusCoin are available on our website andannouncement page.
What is the current block reward for mining CampusCoin?
The current block reward is 500 CMPCO.
Will the current block reward for mining CampusCoin ever change?
Yes, this value halves every 600,000 blocks, or 1.14 years.
How long will it take for all of the CampusCoin to be mined?
Approximately 90% of the total coins will be mined in the next years
Is mining CampusCoin a waste of energy?
No, mining CampusCoin is not a waste of energy as it is what allows our payment network toremain intact and secure.
How does mining secure the CampusCoin payment network?
Mining creates a competitive system that increases the difficulty for each user to add a newblock toour blockchain and prevents users for manipulating or removing any transaction from thenetwork.
Technology Related Questions
How is a CampusCoin generated?
CampusCoin is produced when a miner finds the next block in a blockchain. When this task iscomplete, CampusCoin is generated and rewarded to the miner for finding the block.
What is CampusCoin backed by?
CampusCoin, like all Bitcoin-based tokens, is backed by the complex mathematical equationsthat make up the blockchain, and just like the dollar, it is backed through the good faith of theholder and user. There is no physical product backing CampusCoin, just as there is no longer aphysical product backing the dollar.
How secure is CampusCoin?
CampusCoin is more secure than any fiat currency as it is backed by an open-source code thatis viewable to any person interested. Its decentralization and level of anonymity also preventhackers and central authorities from seizing your funds.
Is CampusCoin anonymous?
Yes, CampusCoin is anonymous to the extent you are not identifiable by your public walletaddress.
How do CampusCoin transactions work?
A CampusCoin transaction can occur because miners across the globe are dedicatingcomputing power to the CampusCoin network. When a transaction is initiated, the minersconfirm the transaction to ensure its legitimacy, and are in turn, rewarded for the use of theircomputing power.
Why do I have to wait for confirmations?
You must wait for a confirmation to allow time for miners to verify your transaction. This isone of the many security features naturally built into CampusCoin
What happens when CampusCoin are lost?
In a situation where an amount of CampusCoin is lost, the funds in question will bepermanently lost. Like all cryptocurrencies, CampusCoin transactions are irreversible.
Does CampusCoin incorporate transaction fees?
Yes, like with all cryptocurrencies, when the transaction volume reaches a certain level therewill be transaction fees, though these fees will be microscopic.
Will people accept CampusCoin as a form of payment?
Yes, the goal is for CampusCoin to be accepted on campuses worldwide. We already haveentities who have agreed to accept CampusCoin as an acceptable payment method.
How would CampusCoin be integrated into schools?
CampusCoin would be integrated into school stores, cafeterias, and in time, into theirinfrastructure for accepting tuition payments.
How would CampusCoin be integrated into a business?
CampusCoin would have point of sale terminals that could be installed at each register,enabling CampusCoin related transactions. Mobile payment methods will also be included.
Will a fork be implemented for CampusCoin?
There will be a fork in the future when CampusCoin integrates its new technologies. Ampletime and information will be given about these changes so all users are prepared for when thefork occurs.
Transaction Related Questions
How do I buy CampusCoin?
To learn how to purchase CampusCoin, please refer to our Crypto-101 page on our website.
Where can I buy CampusCoin? How much is it?
CampusCoin can be purchased via five exchanges: CryptoWolf, Cryptopia, CoinExchange,Nova Exchange, and Stocks.Exchange, with the best exchanges currently being CryptoWolfand Cryptopia. The price of CampusCoin will fluctuate as with all currencies. An estimationof the price can be found of CoinMarketCap.
Can I use a credit/debit card or cash to buy CampusCoin?
You will be able to purchase CampusCoin via your debit/credit cards through our officialmobile app. Cash will be a viable option to purchase CampusCoin after the distribution ofCampusCoin ATM’s.
Where do I keep my CampusCoin?
CampusCoin can be kept in one of the following four locations: The official CampusCoindesktop wallet, the official CampusCoin mobile app, the official CampusCoin online wallet,and on any exchange that trades CampusCoin.
Is there anywhere else I can keep my CampusCoin?
Yes, keeping a hard copy of your coins in a form of a paper wallet is always an option. Visitwalletgenerator.net for more info.
What is a paper wallet?
A paper wallet is a document containing all of the information needed to generate a setnumber of a token.
Are paper wallets safe?
Paper wallets are as secure as you chose to make them. By taking the proper precautions, paperwallets can be as secure as a private, encrypted wallet in theory.
What can I buy with CampusCoin?
CampusCoin can be used for peer to peer transactions and utilized at any location that hasintegrated CampusCoin into their business.
Can I exchange CampusCoin for cash?
No, you cannot directly exchange for cash today. This ability will arise when the CampusCoinATM’s are released. Note: Businesses will be given this option with the integration of themerchant terminal.
What influences the price of CampusCoin?
CampusCoin’s price, similarly to a publicly traded company, is influenced by the overall needfor the product, and the potential that the product shows.
Does the value change frequently?
Yes, CampusCoin’s price fluctuates just like any other cryptocurrency.
Can the value of CampusCoin become worthless?
Yes, it can. Like any form of currency, it is only worth what the global market for the productis willing to pay. If no one has any use for CampusCoin and sees no potential in it, then the value is essentially zero.