July 29, 2020 / Beginners

Bitcoin Physical Coin – From Numbers To Reality

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Physical Bitcoin is the tangible form of the cryptocurrency known today. Such Bitcoins are reliably protected and can be transferred to the user wallet at any time.

How Does Physical Bitcoin Work

The coin acts as a physical Bitcoin wallet. It can be used to store Bitcoins more securely or for offline settlements. A physical Bitcoin contains the coin’s public address and a private key. This key and QR code is embossed on a card embedded in the coin and is protected by a special hologram that changes its pattern when damaged.

The earliest physical Bitcoin, Bitbill, was issued as a credit card but was followed by the physical Bitcoin Casascius, which was attached to a coin.

In 2011, 2 years after the appearance of the first virtual Bitcoin, Mike Caldwell, the author of Casascius, came up with the idea to give Bitcoin a physical appearance so that even virtual money could be held in hands or added to a collection. Making souvenir coins seemed too easy, so Mike set about developing a coin that would contain a private key and equal to 1 BTC.

3500 coins were issued, mined by the author through mining. The coins were quickly snapped up by collectors, and in 2013 Mike released a series with a new design.

At the end of 2013, US regulators suspended the sale of coins linked to Bitcoin. Caldwell’s activities were declared illegal and prohibited from selling funds. Since that time, coins have been created “empty” and are only suitable as a souvenir for numismatists.

Varieties Of Bitcoin Coins

Physical Bitcoin is made in different variations. The most original incarnations of this currency can be distinguished:

Casascius became the first physical Bitcoin. In addition to the gold-plated Casascius, coins are available to customers in silver, brass, and aluminum;

Alitin Mint: the products of this brand belong to the premium class. The items are cast in sterling silver and weigh 2 ounces each. At the moment they are not being issued: proceedings are underway in connection with a number of violations;

akitin

Titan Bitcoin: is available in gold and silver. The price of a gold coin is $ 2949 and $ 1419 in silver;

Cryptmint: coins of this type are suitable for those users who do not want to spend a fortune on premium coins. The souvenir can be made of silver or copper (cost – $ 99 and $ 42, respectively). It is possible to insert any QR code on the reverse side of the coin;

Lealana: Lealana offers a wide range of unfunded coins with prices ranging from 0.015 BTC to 0.385 BTC. The coins are made of gold plated silver. There are also several Litecoin designs;

leana

Denarium: Brass gold plated, silver, or gold coins produced by the Finnish company Bitcoin Prasos. The coin contains an embedded private key in the form of text and QR code, protected from unauthorized access by a hologram. To get virtual Bitcoins, you just need to enter this key into any available wallet.

Bitcoin As A Gift

Currently, Bitcoin is a worthy alternative to classic money and, thanks to its many advantages, it has achieved the right to exist. Practice shows that the demand for Internet coins (including physical Bitcoins) among users is growing rapidly.

Bitcoin coins, due to their high value, have become an excellent option for an original and status gift, which, unlike ordinary gifts, does not depreciate, but only becomes more expensive. You can choose a present based on your financial capabilities: items made of brass, plated with gold, or items made of pure gold and silver are offered for purchase. They have a fairly presentable look. In this regard, physical Bitcoins are used to replenish the wallet, as well as to present as an original gift.

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