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 fairly simple. For example, we have chosen 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 are sold as empty, meaning they are not loaded with bitcoins and the customer can autonomously load a desired amount of bitcoins to the coin. The L-series are sold as loaded meaning they contain a set amount of bitcoins, but the customer can still autonomously load more bitcoins to the coin. The hologram has a “window” where a portion of the public Bitcoin address of the coin can be read for checking balance and loading bitcoins to the coin.

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

Private key

All of 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 inside 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.

Demo of redeeming the private key