Cryptocurrency Q&A
Are physical bitcoins real?
Are physical bitcoins real?
DaeguDivaDanceQueenElegance
Fri Jul 12 2024
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7 answers
1503
As a cryptocurrency and finance practitioner, I've often been asked the question: "Are physical bitcoins real?" The answer is both yes and no. While there are no official physical bitcoins that are backed by the blockchain network, there are indeed physical representations of bitcoins, often referred to as "bitcoin collectibles" or "bitcoin tokens." These are not meant for transactional use but rather serve as novelty items or collector's items. However, they do not hold any actual value on the blockchain and cannot be used to store, transfer, or spend bitcoins. Therefore, when considering the authenticity of physical bitcoins, it's crucial to distinguish between these novelty items and the digital currency itself.
7 answers
MoonlitCharm
Sun Jul 14 2024
The private key or QR code is crucial in ensuring the authenticity of the physical bitcoin, as it validates the link between the physical representation and the digital asset.
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SamuraiWarriorSoul
Sun Jul 14 2024
Authentic physical bitcoins are a unique collectible that incorporates the digital essence of Bitcoin into a tangible form.
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Filippo
Sun Jul 14 2024
These physical bitcoins are often accompanied by a private key or a QR code, which serves as a bridge between the physical object and a certain amount of BTC on the blockchain.
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CryptoConqueror
Sat Jul 13 2024
Among the various platforms and services catering to the cryptocurrency community, BTCC stands out as a UK-based cryptocurrency exchange offering comprehensive services.
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LitecoinLodestar
Sat Jul 13 2024
Verifying this linkage and the credibility of the issuer is paramount in determining the genuineness of the physical bitcoin.
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