How a physical bitcoin is structured
Monenta is a physical bitcoin wallet that works as a medium. It can be used for more secure bitcoin storage or for offline transactions.
A physical bitcoin contains a publicly accessible coin address and a hidden private key. This key and the QR code are embossed on a card embedded in the coin and protected by a special hologram that changes its pattern if damaged.
How the first bitcoin coin appeared
The earliest physical bitcoin, the bitbill, was designed as a credit card, but it was followed by the physical bitcoin Casascius, which was attached to a round coin.
In 2011, 2 years after the first virtual bitcoin appeared, Mike Caldwell, the author of Casascius, had the idea to give bitcoin a physical appearance so that even virtual money could be held in your hands or added to your collection. Making souvenir coins seemed too easy a task, so Mike set about designing a coin that would contain a private key and be equal to 1 bitcoin.
A total of 3,500 coins were produced, mined by the author through mining. The coins were quickly sold out by collectors and in 2013 Mike released a series with a new design.
At the end of 2013, U.S. regulators suspended the sale of coins with embedded bitcoin. Caldwell’s activities were deemed illegal and banned from selling the money. Since that time, the coins have been created “blank” and are suitable only as a souvenir for numismatists.
Varieties of Bitcoin coins
Material Bitcoin is made in different variations. It is possible to highlight the most original incarnations of this currency:
Casascius was the first physical incarnation of Bitcoin. In addition to gold-plated Casascius, silver, brass and aluminum coins were available to customers;
Alitin Mint: products of this brand belong to the premium class. The products are cast in sterling silver and weigh 2 ounces each. They are not available at the moment: a number of violations are being investigated;
Titan Bitcoin: The price of a gold coin is $2949. Titan can also be made of 999 sterling silver. The price of this coin is $1419;
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. It is possible to insert into the coin any QR code on the reverse side;
Lealana: Lealana previously offered a wide range of unfunded coins priced from 0.015 BTC to 0.385 BTC. The coins were made of silver with gilding. There were also several lightcoin designs. Now these coins are not available for purchase from the company and apparently remained only in the hands of collectors;
Bitcoin as a gift.
Bitcoin is now a worthy alternative to classic money and, thanks to its special advantages, it has achieved the right to exist. Practice shows that the demand for “internet coins” (including physical bitcoins) is increasing.
Bitcoin coins, due to their high value, have become a great option for original and status gift, which, unlike usual gifts, does not depreciate, but only grows in value. It is possible to choose a present subject according to your financial possibilities: there are brass ones, coated with gold or made of pure gold and silver. They are quite presentable. In this regard, physical bitcoins are used to replenish a purse, as well as to give as an original gift.