Crypto Exchanges Pop Up on the Rise as Retail Investing Grows in Popularity

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A sign of the times, reflecting the rise of retail investors over the past year and increased interest in crypto, entrepreneurs are taking notice. A new generation of crypto exchanges is emerging, but these are brick-and-mortar.

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Coin Nerds, for example, founded in 2018, is a Canadian-owned and operated crypto exchange that serves customers in-person and online. The company is coming to the United States soon, as it is in the process of “expanding in Miami,” Adam Hack, CEO and founder of Coin Nerds, told GOBankingRates.

“We plan to open a store in Miami, Florida in the first phase, which will be the first quarter of 2022, when we will observe market demand and usage,” 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.”

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“Being tech-savvy is not a requirement for our customers; it is in our view the best possible method to introduce overwhelming numbers of people into the digital asset ecosystem in a comfortable, familiar and trustworthy environment,” Hack continued. “We do this while building trust in digital markets; Customers no longer need to be on the fence due to unawareness or fear of losing their digital assets when using Coin Nerds as an exchange.

Customers can register online and use online bill payments, e-Transfers or e-Transfers to get crypto, or they can also buy crypto in person instantly at any of its physical locations by using cash, debit or credit cards, according to its website. Canadian dollars can be exchanged for cryptos including Bitcoin, Ethereum, DASH, Bitcoin Cash, USDC, USDT, and Dogecoin.

Exchanges charge fees ranging from 0.99% to 5% for each trade, Hack said.

“We are not your average cryptocurrency exchange. We don’t require you to hold cryptocurrency in an online wallet with us, and you don’t have to be an expert (but if you are, that’s cool too!)” , states the company on its website, “We offer a different way to exchange Canadian dollars for bitcoins and other cryptocurrencies. It’s a customer-centric approach which means we put you first.”

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According to Coin Nerds, it’s “to help you buy Bitcoin and other cryptocurrencies in a way that’s most comfortable for you.”

“We believe cryptocurrencies are the way of the future and, more importantly, no one who wants to be part of the revolution should be left behind,” the company said.

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Last update: October 13, 2021

About the Author

Yael Bizouati-Kennedy is a former full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She has also worked as a VP/Senior Content Writer for major New York-based financial firms, including New York Life and MSCI. Yael is now independent and most recently co-authored the book “Blockchain for Medical Research: Accelerating Trust in Healthcare”, with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in journalism from New York University and one in Russian studies from Toulouse-Jean Jaurès University, France.