What is Casascius Coin?
Let's find out Casascius Coin meaning, definition in crypto, what is Casascius Coin, and all other detailed facts.
Mike Caldwell created the Casascius coin in 2011. It was the very first instance of "tangible bitcoins". This means that BTC is kept in a physical form, such as a coin or a bar. Caldwell continued to make these coins until 2013. However, The Financial Crimes Enforcement Network intervened and stopped the business.
To specify, Financial Crimes Enforcement Network stopped the business due to their belief that this activity might be seen as money transmitting, therefore, needs a permit.
A Casascius coin is a physical, metal coin of Bitcoin, that can have different designs, types, and sizes. It is usually possessed by niche collectors. These coins are available in 1, 10, 25, 100, and 1000 BTC increments.
After the development of Casascius coins, a range of other types of physical Bitcoin have appeared like Titan Bitcoin, Atana coins, Ravenbit Satoshi coin, Lealana coins, CoinedBits, and Cryptmint coins.
Mike Caldwell contributed worth and manufactured a total of 27,938 Casacius coins and bars with an average worth of 91,262.8 BTC over the course of three years. The coins have a limited quantity, making them an appealing investment option. They often fetch a premium above their "peel value" - that is, the entire amount of Bitcoin they hold.
However, Casascius coins may be loaded or unloaded, implying that not all of them contain a genuine BTC. Loaded coins don’t have a private key, which is often used to redeem any corresponding Bitcoin.