Tsim Sha Tsui USDT Swap Shop Explodes in Popularity: Shop Owner Reveals Three Secrets to Sucking in Money

I. The Rise of Crypto Physical Stores in Hong Kong: Why You'd Rather Wait in Line Than Trade at a Store

Walking into Kimberly Road in Tsim Sha Tsui, the entrance of a 10-ping exchange store is crowded with young faces. In front of the counter, a clerk in a suit is explaining in fluent Mandarin, "The exchange rate for USDT is 7.82, do you want to transfer money or cash? This is not a traditional foreign currency exchange scene, but a real scene that takes place every day in Hong Kong's cryptocurrency brick-and-mortar stores.

According to the industry's internal data, the highest daily cash transaction volume of cryptocurrency physical stores in Hong Kong can reach HK$30 million. In 2023, when the virtual currency market is in turmoil, how can these street stores with "OTC" signboards become new investment favorites against the trend?

The three core strengths of brick-and-mortar stores are demystified:

  1. Instant Cash Settlement: 15 minutes on average from confirmation of exchange rate to completion of transaction
  2. Zero technical thresholdSupport cash, FPS, Alipay and other payment methods.
  3. Compliance and Safety Endorsement: First in Hong Kong to collaborate with anti-money laundering organizations such as Chainalysis

Second, ten years of foreign exchange veterans to fight the crypto market: how do we do daily sales of 30 million?

"The highest number of transactions was 87 a day, and I had to deposit so much cash into the bank three times," he said. Mr. Chan, who has operated a swap store in Mongkok for more than 10 years, revealed that his business has tripled since he switched to cryptocurrency trading. He shared the three keys to running a brick-and-mortar business:

▍秘訣一：匯率差控制在0.3%的藝術
Behind the signature promise of "only 0.3% handling fee for stable coins and 2% cap for non-stable coins" is a precise liquidity management. We have established capital pools with various investment institutions to ensure that we can take large orders at any time. In one case, a client sold 5 million HKD worth of BTC in just 23 minutes from quote to cash in hand.

ralph lauren polo ralph lauren polo ralph lauren polo ralph lauren pas cher
Looking at the layout of the 10 stores in Hong Kong, from Causeway Bay to Yuen Long, each store is located right next to a traditional foreign currency exchange store. "We want to grab the customers who are used to cash transactions," says Mr. Chan, pointing to the bilingual price list in the store, "Grannies come to exchange for AUD, and youngsters buy USDT, so they can get what they need.

▍秘訣三：把風險擋在櫃檯前
Each store is equipped with a professional bill validation machine and a blockchain monitoring system to synchronize the three major validations during transactions:

  1. Real-time cash identification
  2. Buyer's wallet address compliance check
  3. Real-time tracking and confirmation in the trading chain

Third, the novice must see: five minutes to understand the process of buying and selling in the physical store

ralph lauren polo ralph lauren polo ralph lauren polo ralph lauren pas cher

  1. Comparison Confirmation: Get instant quote via official WhatsApp account (bilingual support)
  2. Cash in Container: Bring Hong Kong Dollar notes to any branch (minimum transaction amount of HK$200,000)
  3. Address Confirmation: Present your personalized encrypted wallet collection QR code (support all major wallets)
  4. Confirmation on the chain: Check your account status in the blockchain browser as soon as the transaction is completed

ralph lauren polo ralph lauren polo shirt
When the crypto market crashes, most stores offer "flash cash" services:

  1. Send Proof of Coin Holding via Telegram
  2. Reserve a time slot at the nearest store
  3. Transfer coins on the spot for immediate cash upon arrival at the store

Four, senior players will not tell you the pitfall prevention guide

Although physical store transactions are relatively safe, industry insiders still recommend paying attention to the following details:

ralph lauren polo ralph lauren outlet

  • Be wary of "no handling fee" jargon: exchange rate differentials may be concealed
  • The best exchange rates are usually available from 3-5pm daily (against international market openings)

ralph lauren polo ralph lauren pas cher

  • Confirmation that the store is displaying a Money Services Business Operator License (MSB License)
  • Remember to ask for an official receipt for large transactions (should contain the transaction hash)

ralph lauren polo ralph lauren polo ralph lauren polo ralph lauren pas cher

  • Create a "one-time billing address" before arriving at the store.
  • For those who use hardware wallets, it is recommended that they be unsealed and verified in advance.

The Future of the Industry: When ATMs Start Selling Bitcoin

With the promulgation of new regulations on virtual asset trading by the Hong Kong government, the physical store model is polarizing:

  • high-endization: A "Crypto VIP Room" has been launched in Central to provide a space for freshly brewed coffee and private transactions.
  • facilitationSham Shui Po: Pilot Encrypted ATMs in Sham Shui Po to Support Octopus Instant Purchase of USDT

"In the next three years, brick-and-mortar stores may replace some of the functions of bank foreign exchange counters." An unnamed industry analyst pointed out that when crypto wallets bundled with mobile payments become the norm, street-side swap stores will evolve into a new form of financial service station.

Standing at the crossroads of Nathan Road, looking at the endless stream of cryptocurrency investors, this financial revolution in the street is rewriting the definition of Hong Kong's century-old exchange store.

Disclaimer: The contents of this article are for informational purposes only and should not be construed as any form of promotion, investment advice, or invitation, solicitation or recommendation of any investment product.
The contents of this article have been reprinted.offensiveIf there is anything wrong, please contact us and we will remove it immediately, thank you.
Readers should make their own assessment and seek professional advice.