Though Bitcoin is a virtual currency, there are a lot of people who would like to own it physically. Catering the requirements from such customers, Denarium has brought in physical Bitcoin. The Bitcoin startup company recently launched physical versions of the cryptocurrency which will be available in the low-cost denominations of 1/100th to 1/10th of a Bitcoin.
The company says that physical Bitcoin can be bought from Finnish company Denarium available on pre-sale as of April 13. Thus, from now on, physical Bitcoin are available for those who wish to own it in real wallet than the virtual wallet. According to the official website Denarium Bitcoin is a physical coin which has actual Bitcoin value inside.
The company makes it clear that Denarium Bitcoin itself is a quality brass product that is produced in Finland. The main focus of Denarium Bitcoin is affordability wherein the company has chosen to avoid unnecessary complexity and to keep the design fairly simple. For instance, it has chosen to avoid using decimals.
Similarly, the coins are valued in fractions of a Bitcoin i.e. 1/10 & 1/100 and also in the newer “bits” format 100 000 bits & 10 000 bits. Nevertheless, according to the company sources it is taking this step to encourage increased adoption of the digital currency and to help more people understand how it functions.
Denarium Bitcoin is the newest project
Talking to the media professionals Denarium CEO Henry Brade says that Casascius did not actually stop selling Bitcoin due to lack of demand but that it had to cease because of regulatory problems. He clarifies that in Finland, the regulatory environment is clearer in terms of the Bitcoin industry; therefore, the company is strategically placed to cater customers.
According to Henry Brade the company wants the coins in the hands of Bitcoin enthusiasts all over the world. He believes that if it is made available in physical form the people can use them as gifts to friends and family and while doing that they can explain what Bitcoin is about. Thus, he sees huge potential in physical Bitcoin.
Denarium Bitcoin is the newest project and it is first truly international product from the company. It also operates the largest Bitcoin exchange in Finland, Bittiraha.fi. Additionally, apart from operating the largest Bitcoin ATM network in the Nordics, called Bittimaatti, they also operate BTC Store which focuses on Bitcoin security products.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org