In most cases, safety and style don’t go hand in hand. And, especially with cryptos, the statement fits in completely. But, if I tell you, it is possible to store your bitcoins safely and that too with style. Sounds a little off, Right?
Then, you should check out the latest and innovative collection of Denarium’s physical bitcoin coins. Not only they look elegant and luxurious but are also cost-effective to holders of the coin. Available in gold, silver, and other premium metals, they are the nicest looking cold storage wallets in the market.
The concept of physical bitcoin is not something new in the market and is in existence since 2011. It falls under the category of cold storage wallet and offers a high level of security to users. Casascius was the first bitcoin company to launch physical-bitcoin in 2011, but couldn’t continue longer due to unfavorable regulatory conditions, therefore closed down its operations in 2013.
With the void left by the closing down of Casascius, Denarium was quick to identify the gap and announced the international rollout of next-generation physical bitcoins in 2015.
Let’s have a review of the features of Denarium’s physical bitcoin.
Overview Of Denarium
Denarium is a Finland-based crypto startup that also owns the country’s largest crypto exchange Bittiraha.fi and the largest ATM network in NORDICS Bittimaatti.
It offers a series of low-cost as well as premium physical bitcoin that is designed to be loaded with a custom bitcoin amount. With a favorable regulatory environment in Finland, it helped Denarium to gain a strong foothold and soon became the undisputed leader of the space.
Initially, the startup rolled out the 1/10 BTC and 1/100 BTC series, which attracted significant attention from the collectors. Soon, it launched many affordable and premium ranges of physical bitcoin including gold collection, premium collection, and gold-plated collection.
Denarium’s product range is also aimed towards stimulating the adoption of digital currencies. In an interview to an online publication house, Henry Brade, Denarium CEO said:
“We want the coins in the hands of bitcoin enthusiasts all over the world so that they can use them as gifts to friends and family and while doing that they can explain what bitcoin is about.”
Denarium’s Physical Bitcoin Range
Denerium’s every product is uniquely designed by in-house graphic artists and uses premium metal like gold-plated copper, bronze, silver, and 99.99% purity gold to make such coins.
It offers both loaded and unloaded physical bitcoin for sale, with custom amounts ranging from 0.001 to 2 BTC. However, due to strict regulatory guidelines, it cannot ship loaded physical bitcoin to the US.
Currently, it has 15 coin models from very affordable to premium range.
First Series Collection
The first series collection includes 1/10 BTC and 1/100 BTC 2015 series and is made of brass metal. It can be bought as empty or loaded.
Gold Plated Collection
The copper gold plated physical bitcoin collection includes 2018, 2019, and 2019 special edition series. The coins do not have any denomination and can be bought with a custom bitcoin value of 0 to 2 BTC.
Bitcoin is considered as digital gold, therefore it’s a great way to combine both traditional and digital gold. The physical bitcoin issued under gold collection is of limited edition and can be bought as empty or loaded.
The gold collection range includes Denarium 1/2 BTC Gold, Denarium 1 BTC Gold, Denarium Bitcoin Decennium 2019, and Denarium Gold Bar 2018.
The premium collection includes Denarium 1 BTC Patinated Bronze, Denarium Custom Silver Antiqued Edition, and Denarium Custom Silver Antiqued Golden Edition.
Security Features of Denarium Physical Bitcoin
- Tamper-proof Hologram
The custom made high-security hologram functions as an added layer of security for the protection of the private key. The hologram makes it extremely difficult to counterfeit without leaving any trace of visible marks.
- Private Key
Denarium uses a 30-character mini private key, that is printed inside the coin not only as plain text but also as a QR code. You need to scan the code inside to allow the importing of the private key to a mobile wallet.
The private key is printed only once, and the company directly supervises the printing process every phase. The printed private key or QR code makes it easier to redeem bitcoin value.
- Trustless Multisig Option
The physical bitcoin from Denerium is also the world’s first multisig physical bitcoin. You get the option to opt for multisig physical bitcoin at the time of placing the order.
Denerium was criticized for their first product because they weren’t trustless coins. Since the private key is created and printed by Denerium, there remains an issue of trust and trust in the company.
Therefore, Denerium added the multisig functionality to add an extra layer of security and provide customers with greater peace of mind.
In the 2-of-2 multi-signature model, the personal public key is combined with the key in the Denerium coin to create a P2SH bitcoin address. The bitcoin is stored in the P2SH address and can be spent by signing the transaction with the private key in the coin and own private key.
Securely Store Unlimited Bitcoin
Physical Bitcoins are a great option for storage and as collectibles. And, over the past few years, there have been significant rises in interest towards keeping money in such coins.
As of this moment, 603 BTC (4,84 M€) is securely stored on Denarium physical bitcoin coins making them the largest resellers for the classical Casascius Coins. That way they have years of experience in regards to physical bitcoins.
With Denerium coin, you can store unlimited amounts of Bitcoin securely with the elegant style of traditional collectibles
Adding funds to your product
The process of adding funds to your products is as easy as adding funds to any bitcoin wallet. You can either use the wallet card provided with the coin, that is supported at any Bitcoin ATM around the world.
Or, find the bitcoin address of your coin, either from the mini-address card provided, by scanning QR code and send the desired amount of bitcoin to the address. You can also send bitcoin directly to your coin from any bitcoin exchange.
Spending your product
The spending process is as simple as adding funds to your product. To spend bitcoin, you need to follow the following steps:
- Open the hologram sticker.
- Next, you will find your private key in plain text and as a QR code.
- Scan the QR code or type the private key with any Bitcoin wallet software of your choice to import your bitcoin address.
- Following the successful scan, the funds from your physical bitcoin get transferred to the blockchain wallet.
- Now, you can spend your bitcoins as you want.
The Bottom Line
At times, when the highly technical nature of the cryptos resulting in slow mainstream adoption, the Denerium’s innovative physical bitcoin is helping to create the much-needed interest around by providing a hands-on feeling of the digital currency.
And, compared to other types of wallets, it makes a highly secure and impressive way to introduce cryptos to your friends and family by presenting it as a valuable gift.