Bitbills the first physical representation of bitcoins are released

A Bitbill is a plastic card designed to securely store a cryptographic key, enabling access to its predetermined value. This key is encoded within a QR code inside the card, ensuring it remains unreadable unless the card is tampered with. Furthermore, a hologram is applied to prevent counterfeiting.

The concept revolves around leaving the card sealed until needed, akin to physical currency. It can be used for transactions at face value in-person at various retailers. However, once opened, the funds can be accessed via the Bitcoin payment network. Once opened, the card loses its value for further transactions as its private key is exposed.

Bitbills were available in 1 BTC, 5 BTC, 10 BTC, and 20 BTC denominations.

However, production of Bitbills ceased as of May 15, 2012.