Denarium hopes to supply such coins to appease the demand for physical bitcoins.
“What we hope to achieve is to allow everyone to have an easy-to-understand gateway to the world of Bitcoin. Our first product is a simple, low-cost product that anyone can afford,” Denarium co-founder, Henry Brade, told Crypto Coins News.
“We want the coins in the hands of Bitcoin enthusiasts all over the world so they can use them as gifts to friends & family and while doing that they can explain what Bitcoin is about. It’s also a great gift for company employees if one is a company owner or executive.”
Luckily for the Denarium team, the regulatory environment in Finland is more welcoming than in the US.
“The regulatory environment here in Finland is clear in regards to manufacturing and selling physical bitcoins, so we are in a good place to start,” Brade told CCN.
“We foresee a positive regulatory future in Finland, however we are also prepared to move our operations in case there are problems. Many of the other physical coin manufacturers have been hobbyist projects, we are a real business. We already have a warehouse in Singapore for the logistics needs of the Asian market, so we could easily move more of our operations there in case there are issues in Finland.”
The physical Denarium coins are composed of brass, a hologram sticker that functions as a security seal to avoid counterfeiting, and a private key paper slip in between the coin and hologram. The Private key is where the bitcoins are stored, in plain text and QR code format.
The team did have interest in precious metals before starting Denarium.
“I can’t speak for everyone in our team, but I think most of us were and still are interested in precious metals,” Brade told CCN.
“My personal view is that one of the best ways to describe Bitcoin is “digital gold.” It obviously doesn’t yet have the historical reliability as a store of value that gold has but it is technically way more advanced than gold and bitcoins are arguably even more scarce than gold.