What is Denarium, how much Physical bitcoin coins have we produced? Why is Denarium the safest option to invest in Bitcoin? Inside Interview with CPO, Viljami Räisä.
Denarium, we are a first generation Bitcoin startup based in Finland and part of Prasos. Prasos launched in 2012. In addition to Denarium, they operate the leading European bitcoin exchange platform Coinmotion and the Finnish bitcoin broker Bittiraha.fi. They also run the largest Bitcoin ATM network in the Nordics called Bittimaatti.
As of this moment, we have produced 11500 coins with a total amount of 594,41 BTC (~4.5 Million USD) stored in our coins. We have designed 13 different models. You can view the full list on Bitcoin wiki. We used to be one of the largest resellers for the classical Casascius Coins and now have years of experience regarding physical bitcoin coins. We realized that there is a demand for physical Bitcoin because besides Casascius many companies shut down operation. Customers left without good options to store Bitcoin safely. We wanted to offer a comfortable, secure way to buy and store bitcoins.” Viljami Räisä, Denarium’s CPO mentions.
He adds: “Denarium has never had a security breach in 3 years of operation. We are well on the way to bringing production to the next level. We will make it much easier for resellers, and will implement EAN codes on new improved packaging.”
The total production per month since June 2015
When asked why Denarium never had a security breach, Viljami adds: “We generate the private keys offline, we only use our machines and the assembly happens under direct supervision. Furthermore, there are never third-parties involved, the production of every physical bitcoin coin undergoes multiple checks, and the last check is done by the customer him/herself to make sure the hologram is in good condition after travel. I guess I’m always focused on how we can make the product more secure.”
Compared to paper wallets a physical bitcoin coin is much safer. We hide the private key under a high-quality custom-made security hologram. The hologram significantly increases anti-fraud security making it extremely difficult to counterfeit without leaving any visible marks. In this way, we protect you from ‘spy attacks.’ If someone would copy your private key either from a paper wallet or recovery seed, they only have to wait until you store a sufficient amount of Bitcoin before they would make their attack, easily accessing your Bitcoin. Because Denarium keeps your private key offline without any copies, nobody can make this “spy-attack” It is when you open the hologram that you can access your Bitcoin.