Although cryptocurrencies were generally frowned upon in the early days after they came onto the scene, many people have embraced them nowadays. In fact, the crypto world has grown massively, and virtual currencies have become part of the everyday financial lives of many.
Due to the growth of digital currencies, there is now a great demand for ways to acquire these assets. While online exchanges have been the most popular ones, there are also several physical crypto exchanges.
So, why should you consider using a physical crypto exchange?
Security and regulatory compliance
Security is a crucial factor when choosing a method for trading cryptocurrencies. The good news is that most physical crypto exchanges adhere to applicable regulatory standards—guaranteeing their users both security and excellent service.
In addition, a physical crypto exchange is secure because there are no risks of online scammers as you transact. They also have other measures in place like cold storage of cryptocurrencies to ensure the security of their users’ assets.
Immediate transactions
When dealing with cryptocurrencies, time is of the essence because prices change erratically. A physical crypto exchange allows users to buy or sell their digital currencies pretty fast without having to wait for bank transfers and other processes such as identity verification that cause delays. Thus, you can buy and sell crypto instantly through them allowing you to take advantage of price changes or even avoid losses due to price drops.
Privacy
Some people like to buy and sell their cryptocurrencies privately without all and sundry getting to know about it. Luckily, you can use a physical crypto exchange to trade your crypto assets privately. This is because physical exchanges do not usually require customers to undergo rigorous identity verification processes.
Tangible experience and trust
For some crypto enthusiasts and investors, especially newbies, the digital nature of cryptocurrencies can seem intimidating. However, when using a physical crypto exchange, such traders get to interact with experienced and friendly staff and engage in a tangible process thus making it less intimidating.
Moreover, face-to-face interaction with experienced and knowledgeable staff can go a long way to foster a sense of trust and help users feel more secure. This is especially a great thing for those who are reluctant to entrust their funds to virtual platforms.
Literacy and guidance
As a newbie who is not well versed in crypto trading, you may need guidance around some things related to investing in crypto. You don’t have to worry because you can get some guidance from knowledgeable and experienced staff in those physical crypto exchanges as you buy and sell your assets.
In addition, some physical exchanges arrange for educational workshops and events or have staff available for consultation on various crypto matters. You can consult them and use their guidance as you start, as you also learn the ropes of the trade.
Conclusion
There are many reasons for considering using a physical crypto exchange including speedy transactions, security, privacy, and guidance in crypto trading. In addition, physical exchanges serve the non-tech savvy traders and provide a tangible experience helping to foster trust. When choosing a physical exchange, ensure it complies with the regulations and has a positive reputation.