Physical crypto coin redemption

[zukiplay]

Would anyone care to explain to a noob how to redeem crypto from a physical piece? For instance, the Satori poker chip would be a good example. I understand the collector value is worth more and is not a recommended practice. But I would like to know how after peeling. Is it the same practice for any physical crypto piece? TIA

[1714971277]

1714971277

[1714971277]

1714971277

[1714971277]

1714971277

[1714971277]

1714971277

[1714971277]

1714971277

[Lucius]

The thing should be very simple in theory, you just need to enter the private key below the sticker in the corresponding crypto wallet and then you will get access to your coins. A physical coin only contains the information you need to access it online.

I remembered that there was one topic that could give you answers to some additional questions -> How to redeem Casascius using Electrum

[DaveF]

For the most part the link that Lucius posted was correct.

BUT keep in mind there are some coins that used some different ways of showing the key under the hologram.
Cryptolator, and at least one other, used a passphrase that you had to put into a brainwallet to get the private key.
There are a few, that should be avoided, that use an online site to get the private key / coins.

-Dave

[Lucius]

Cryptolator, and at least one other, used a passphrase that you had to put into a brainwallet to get the private key.
There are a few, that should be avoided, that use an online site to get the private key / coins.

Interestingly, I really didn’t know this and I always thought it was exclusively private keys hidden under a hologram in the sense that it was some sort of standard held by all who before and today produced such physical coins. The most famous coins of this type are Casascius physical bitcoins that have stopped being produced because the owner received a warning that he must register in case he wants to continue producing coins.

[zukiplay]

Okay, I think I understand that you need to open in a corresponding wallet to the physical piece. I do believe I read that the Satori uses Mycelium wallet. So, Cryptolator, Casascius, Denarium, etc. use their own specific wallets. Sorry y'all,  I am learning and appreciate your time and answers.

[DaveF]

The WALLET stays the same. You can use just about any of them.
The private key that you need to get the coins into the wallet also stays the same.
HOW YOU GET THAT KEY CHANGES.

Some, probably most coins have the private key printed under the hologram.
Some coins have something else printed under the hologram that requires a 2nd step to get to the private key.
Some coins (which you should avoid) have some online component needed to get to the BTC. <-- The issue with this is that you are relying on someone / something else that you must trust to get the coins.

See here for issue: https://bitcointalk.org/index.php?topic=5369583.0

-Dave

[Mr.right85]

Cryptolator, and at least one other, used a passphrase that you had to put into a brainwallet to get the private key.
There are a few, that should be avoided, that use an online site to get the private key / coins.

Interestingly, I really didn’t know this and I always thought it was exclusively private keys hidden under a hologram in the sense that it was some sort of standard held by all who before and today produced such physical coins. The most famous coins of this type are Casascius physical bitcoins that have stopped being produced because the owner received a warning that he must register in case he wants to continue producing coins.

Of a truth, I never knew of the existence of any form of the bitcoin innovation o have evolved a physical nature to it such as the Casascius Physical Bitcoin Iet this thread. I've heard of collectibles and have a fair knowledge on the matter but for Casascius Physical Bitcoin, I was very much a numb until I read the reference in this quote.

It feels sad how your environment could do this to you (at myself) keeping you back on every innovation and we happen to be the second adopters and even when we get to identify this opportunities, the funds becomes another issue.
The more reason I appreciate the forum and people in it. Thanks for the education!