March 23, 2015

Process

Denarium Bitcoin process

Denarium Bitcoin

The Coin

Denarium Bitcoin is a physical coin which has actual bitcoin value inside. The coin itself is a quality brass product that is produced in Finland. The main focus of Denarium Bitcoin is affordability. We have chosen to avoid unnecessary complexity and to keep the design relatively simple. For example, we have decided to avoid using decimals. Our coins are valued in fractions of a bitcoin (1/10 & 1/100) and also in the newer “bits” format (100 000 bits & 10 000 bits).

Hologram

The hologram is a high-quality custom-made security seal which is produced in Canada in a specialized high-security facility. It functions as an added layer of security for the protection of the private key. The hologram significantly increases anti-fraud security making it extremely difficult to counterfeit without leaving any visible marks.

The holograms are labeled individually in distinct series, the E-series and the L-series. The E-series we sell empty, meaning they are not loaded with bitcoins and you can autonomously load a desired amount of bitcoin to the coin. The L-series are sold loaded meaning they contain a set amount of bitcoins, but you can always autonomously load more bitcoins to the coin. The hologram has a “window” where you can read a portion of the public Bitcoin address for checking balance and loading bitcoins.

Please note that also loaded multisig coins will always be an E-series!

 

Private key

All our coins have a Bitcoin private key inside the coin. We use a 30-character mini private key format. Each private key is printed only once and for security reasons each phase of product assembly that involves the handling of private keys is directly supervised either by Henry Brade (CEO) or Viljami Räisä (CPO), or both.

To make redeeming the bitcoins stored inside the coin easier, we print the key not only as plain text but also as a QR code. Modern smartphones are capable of scanning the QR code inside and importing the key directly to a Bitcoin wallet such as Mycelium. See our page Physical Bitcoins for detailed instructions.

Demo of redeeming the private key