From Gift to Goldmine: Physical Bitcoins – A Collector’s Dream

Whenever people are asked about Bitcoin, the foremost response is that it is an abstract form of money. Therefore, many do not believe in it. However, the tangible form of this token, which is the king of all coins, exists—the physical Bitcoin. 

In this casino news, we will examine how the first physical Bitcoin was created, the current trends, and how it can be used for casino gaming. 

Physical Bitcoin: The Future of Money in Your Hands

The first physical Bitcoins were introduced in 2011, two years after the coin’s launch. These coins were called “Casascius Bitcoin.” It was created in Utah by a man named Mike Caldwell. Mike gave out physical Bitcoins as Christmas gifts in 2011, and by 2013, he had minted about 27,000 coins of varying value.

The coins were made of brass plated with gold. Each has its address and a private key on the coin at the back under a hologram. The key grants the holder permission to redeem the worth of one of the coins in a digital wallet. Think of it as an Amazon gift card. The card itself doesn’t hold value; it’s only loaded with an amount that can be redeemed. That is precisely how the physical Bitcoins worked. 

Casascius Bitcoin was, however, shut down by the United States government in 2013. Some other physical Bitcoins came up, including Alitin Mint, Cryptmint Coins, CoinedBits, Titan Bitcoins, etc. But many didn’t materialize.

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More Than a Coin, It’s a Legacy: A Physical Bitcoin

One of the reasons why some people, including online casino players, love to go for a physical Bitcoin is to protect themselves from online hackers. Having a physical coin keeps you away from any form of online theft. It serves as a cold wallet.

Also, if you are lucky enough to get a physical Bitcoin, it is a valuable collectible, especially the rare ones. There are now companies that collect these coins and sell them. Some of these coins’ market value increases as the bitcoin price increases in the digital space. 

Learn more about crypto casino games in our online casino guides and be on top of your game with the latest details on these currencies.

The Worth of Physical Bitcoins 

The worth of a physical Bitcoin depends on three factors. First is the actual worth held in the private key, and second is the material used in making it. A gold-plated Bitcoin will be worth more than a metal-plated one. The third is that the rarer the coin, the more valuable it is. Many companies are selling physical Bitcoins to date. 

According to Mc Carteny, Stack Bowers Galleries Direction of Consignments and Numismatic, more attention is paid to physical bitcoins. 

“We view physical Bitcoins on par with traditional numismatic categories like $20 gold coins or Morgan silver dollars that have been prized by collectors for decades. Since first entering the category in 2021, we’ve sold over 1,000 physical crypto coins and achieved more than $4.5 million in total prices.”

Later this month, on March 28th, physical Bitcoins will be auctioned ahead of the Bitcoin halving. The event, which will play a role in the crypto future, will take place in April. Some of the coins produced by Casascius before its shutdown in 2013 will be among the coins offered. 

Stack’s Bowers and Heritage Auctions, the leading top rare coin dealers, are responsible for physical Bitcoin sales. It is stipulated that the market value of some of the collectible coins that will be shared is more than $1 million. Quite an amount for people who invest their cryptocurrencies in casino games online. 

Physical Bitcoins and Online Casino Gaming 

A Physical Bitcoin can be used indirectly for online casino gaming. If you have one, redeem it first. But you do not necessarily need to change it to fiat. All you need to do is play in a crypto casino that offers Bitcoin as a payment method. A good example is Slots Paradise Casino. 

Enjoy crypto games like the Cryptomatrix Slot in our casino, where you can find a promotion to double any crypto deposit, which can be used to play online casino games with real money-winning chances. 

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