Crypto Pop-Up Exchanges on the Rise as Retail Investing Grows in Popularity
Written by
Yaël Bizouati-Kennedy
Edited by
Cory Dudak
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In a sign of the times, reflecting last year’s rise of retail investors and increased crypto interest, entrepreneurs are taking notice. There’s a new crop of crypto exchanges appearing, but these are of the brick-and-mortar variety.
Discover: What Is the Next Big Cryptocurrency To Explode in 2021?Learn More: Competitor Investing Platform to Robinhood Adds Crypto Trading Capabilities
Coin Nerds, for example, founded in 2018, is a Canadian-owned and operated crypto exchange serving customers both in-person and online. The company is soon coming stateside, as it is in the process “of an expansion into Miami,” Adam Hack, CEO and founder of Coin Nerds, told GOBankingRates.
“We plan on opening one store in Miami, FL in the first phase, which will be Q1 2022, at which point we will observe market demand and utilization,” Hack said.
Hack explained that Coin Nerds was founded “with the idea that individuals from all walks of life should be able to participate in the digital asset economy, without the steep learning curve.”
“Being tech savvy is not a requirement for our customers; this is in our view the best possible method to introduce an overwhelming amount of people into the digital asset ecosystem in a comfortable, familiar and trustworthy environment,” Hack continued. “We do this all while instilling trust and confidence in digital markets; no longer do customers need to be on the fence due to unfamiliarity or afraid of losing their digital assets when they use Coin Nerds as their exchange.”
Customers can register online and use online bill payments, e-transfers or wire transfers to get crypto, or, they can also buy crypto in person instantly at one of its physical locations using cash, debit or credit cards, according to its website. Canadian dollars can be traded for cryptos including Bitcoin, Ethereum, DASH, Bitcoin Cash, USDC, USDT and Dogecoin..
The exchanges charge fees range from 0.99% to 5% for each transaction, Hack clarified.
“We’re not your average cryptocurrency exchange. We don’t ask you to keep cryptocurrency in an online wallet with us, and you don’t have to be an expert on the subject (but if you are, that’s cool too!),” the company says on its website. “We offer a different way to exchange Canadian dollars for Bitcoin and other cryptocurrencies. It’s a customer-centric approach that means we put you first.”
See: Social Media Platform Rides Retail Investor Surge, Promises ‘Democratization of Knowledge’Learn More: Competitor Investing Platform to Robinhood Adds Crypto Trading Capabilities
According to Coin Nerds, it’s “all about helping you buy Bitcoin and other cryptocurrencies in whatever way is most comfortable for you.”
“We believe that cryptocurrencies are the way of the future, and more importantly, that nobody who wants to participate in the revolution should be left behind,” the company said.
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Last updated: October 13, 2021
