Physical cryptocurrency exchange offices, centralized exchanges, decentralized exchanges, hybrid exchanges, and crypto ATMs are all places where you can buy crypto instantly. Each of these has unique traits, modes of operation, benefits, and drawbacks. While there are some similarities between them, there are also some distinctions. In this article, we will examine the benefits and drawbacks of purchasing crypto instantly from a physical exchange office.
Pros of Deciding to Buy Crypto Instantly at a Physical Exchange
The following are benefits of purchasing cryptocurrency right away from a physical exchange office.
1. A face-to-face exchange
Transactions on other types of cryptocurrency exchanges where instant crypto buying is permitted are conducted in front of a screen. A face-to-face transaction is a huge advantage you get anytime you buy crypto instantly from a physical cryptocurrency office. This is a benefit that physical cryptocurrency offices have over all other kinds of crypto exchanges that provide instant cryptocurrency purchasing. The benefit of seeing the person you are buying from in person is available whenever you purchase cryptocurrency instantaneously from a physical cryptocurrency office. Customer service is also unparalleled with this type of face-to-face exchange.
2. Possibility of using fiat currency as a method of payment
Another major benefit of purchasing cryptocurrency instantly from a physical crypto office over other exchanges is this. There is no way to hand over physical cash with any other form of exchange that supports buying crypto instantly. However, since a physical crypto exchange involves in-person transactions, you can pay by giving cash to the staff members working there. Additionally, some physical cryptocurrency exchanges accept multiple forms of fiat currency.
3. Payment method fees are not incurred
Charges often apply to other payment methods accepted on other cryptocurrency exchanges. For instance, there is a specific cost for using altcoins as well as local and international bank transfers. However, there are never any payment method fees when you buy crypto instantly from a physical crypto office. This is justified by the fact that utilizing fiat currency there does not generate any fees. Importantly, there still may be exchange fees aside from payment method fees.
Cons of Deciding to Buy Crypto Instantly at a Physical Exchange
Those who buy crypto instantly through a physical cryptocurrency exchange experience a few drawbacks. Let’s look at them now.
1. They are incompatible with online transactions
The fact that physical cryptocurrency exchanges do not accept internet transactions is one of the disadvantages of using them to buy crypto instantly. This implies that utilizing their website or app to purchase any form of cryptocurrency with cash is not possible. They simply encourage you to visit one of their offices to buy or sell.
2. Purchasing on behalf of a firm or another person is not permitted
Some online exchanges permit you to buy on behalf of someone else or a business. With the physical crypto trade, this is impossible. You are not permitted to make purchases on behalf of another individual or a business.
The pros and cons of purchasing cryptocurrency instantly from a physical crypto office are discussed in this article to help you make an informed choice. Be sure to research physical crypto exchanges before selecting one that meets your needs.