Welcome to Your Bitcoin Gift!
Congratulations! You’ve just received a gift of Bitcoin!
This page will guide you step-by-step on how to access and safely manage it.
How does this card work?
This card contains a secret 12 word passphrase that grants you access to this Bitcoin wallet. You should know that Bitcoin wallets have two main parts:
A public address that is used to receive and view funds, and
A private key that is used to control the funds
This 12 word passphrase represents the private key. With this private key anyone can access and control the Bitcoin, so you’ll want to keep it safe.
A handy way to better understand Bitcoin wallets is to think of the public address like an email address. You can openly share it so people can send you email, but you need a password to read your email or take other actions. Similarly, you need the private key to access and transact your Bitcoin.
How to Keep Your Bitcoin Safe
You have a couple of options to keep your Bitcoin safe:
Set up a hardware or software wallet (recommended)
Store this card in a really safe place (not online) and set up a hardware/software wallet later
Set Up a Hardware/Software Wallet
If setting up a hardware or software wallet ensure that it supports BIP39 passphrases and BIP84 key derivation paths. If the gift giver did not use Source Code Studios to generate the passphrase you’ll need to ask them for these configuration details.
Since Bitcoin is purely digital and only exists on a computer, it requires special software or hardware, referred to as Bitcoin wallets, to interact with it. Bitcoin wallets come in a few different flavors:
Paper wallets, like this card
Software wallets, typically apps on your computer or phone
Hardware wallets, specialized devices designed to store your Bitcoin offline
The best option depends on you.
If you’re not tech savvy but are well organized and have a safe keeping place, paper wallets can be a great way to store your Bitcoin. The biggest risk with this type of wallet is damage (fire, flood, etc) or theft. One way to upgrade your paper wallet is to purchase a crypto steel, where you can store your passphrase on a small steel tile that is resistant to fire, flood, and corrosion.
Software wallets are a great option if you think it’ll be hard to keep this card safe. They are easy to use and perfect for beginners. The downside is that they are connected to the internet, so it’s less secure than offline options. One software wallet that is easy to setup and supports BIP39/BIP84 is Wasabi.
Hardware wallets are the safest option because they store your Bitcoin offline but are more expensive. The Ledger Nano X is an established product that supports BIP39/BIP84.
If you already own Bitcoin and possess a hardware or software wallet, you can import the 12 word passphrase and manage it alongside your other assets. You’ll need to ensure that your wallet supports the BIP39/BIP84 standards. After importing, It’s recommended to move the Bitcoin into a different wallet address so that you can safely dispose of the card.
FAQ
What’s Bitcoin?
Bitcoin is like magic internet money. People use it to save, buy, and sell things just like regular money. Since it lives on computers, you can send it instantly to anyone in the world. It’s special because no one can make fake Bitcoins, and you don’t need a bank to keep it safe or use it—just a secret passphrase.
What’s a Bitcoin wallet?
A Bitcoin wallet is a digital app or device that allows you to store, send, and receive Bitcoin securely.
What if I lose my passphrase?
Unfortunately, the passphrase is the only way to access the Bitcoin. If it’s lost, the Bitcoin cannot be recovered, so be sure to keep it safe.
What if I can’t read the written passphrase?
If the passphrase on your card is difficult to read know that the BIP39 passphrase standard supports only a small set of distinct words. Here’s the complete BIP39 english word list.
How can I check the value of my Bitcoin?
Once you set up a software or hardware wallet you’ll be able to easily check your balance.
Is it safe to keep Bitcoin in this card?
Yes, but for larger amounts, consider transferring your Bitcoin to a secure software or hardware wallet for long-term storage.
Do I need to worry about taxes?
When you sell or spend your Bitcoin you will be responsible for reporting any gains/losses on the value of the Bitcoin. The card has a placeholder for the dollar amount given (your cost-basis) from which you can determine how much the Bitcoin appreciated or depreciated. Consult your accountant for tax advice.
How can I gift a Bitcoin card to someone?
Simply shop our collection of Bitcoin cards and follow these instructions.
Disclaimer
Source Code Studios is not responsible for any loss of funds resulting from the use, storage, or transfer of Bitcoin associated with our gift cards. Users are solely responsible for securely managing the BIP39 passphrase and ensuring accurate setup and handling. By using this product, you agree to indemnify and hold Source Code Studios harmless from any claims, losses, or damages arising from the creation, gifting, or redemption of Bitcoin using this card. Bitcoin transactions are irreversible, and funds cannot be recovered if the passphrase is lost or shared with an unauthorized party.