A nascent type of store may be located alongside a dentist, a Pizza Hut, and a Vietnamese restaurant in a tiny business park in Mississauga, Ontario.

With a brightly lit waiting area, a registration desk, and cubicles enclosed by bullet-resistant glass, it appears to be a small local bank or perhaps a currency exchange operator.

However, Coin Nerds Inc. provides guests with something that other financial stores do not: cryptocurrency.

The founders of the store, which debuted in 2018, are among a small group of entrepreneurs who feel virtual currency has a home both offline and on Main Street.

A nascent type of store may be located alongside a dentist, a Pizza Hut, and a Vietnamese restaurant in a tiny business park in Mississauga, Ontario.

With a brightly lit waiting area, a registration desk, and cubicles enclosed by bullet-resistant glass, it appears to be a small local bank or perhaps a currency exchange operator.

However, Coin Nerds Inc. provides guests with something that other financial stores do not: cryptocurrency.

The founders of the store, which debuted in 2018, are among a small group of entrepreneurs who feel virtual currency has a home both offline and on Main Street.

Their proprietors claim that physical exchanges improve the experience of buying and selling bitcoin, which is often done through online exchanges like Coinbase Global Inc. or Binance Holdings Ltd. Mr. Hack believes that while such platforms are popular, they might be intimidating to consumers who are unfamiliar with cryptocurrency markets.

“We’ve noticed an attrition rate with cryptocurrency, where people will deposit $500 or $1,000 into an exchange but have no idea what to do with it, or they’ll simply say, ‘You know what, this is too difficult for me.’ “I’m leaving,” he said.

Customers can speak to someone practically instantly if they have an issue at a staffed crypto exchange with an open-door policy; internet exchanges, on the other hand, have been chastised for being slow to respond to client concerns.

According to Baptiste Lac, co-founder of Comptoir des Cybermonnaies, a physical exchange owned by Satoshi Dev SAS based in Bordeaux, France, the physical nature of real-life storefronts engenders trust in those skeptical of the largely unregulated crypto industry, which has become a hotbed for scams.

“When a newbie arrives—especially a more traditional investor wanting to buy through their broker—they can check Google to see whether we are secure, if we are licensed by French regulations, and if they can spend the significant sum that they might not feel safe spending online,” Mr. Lac explained.

Comptoir des Cybermonnaies, unlike Coin Nerds, does not accept cash because it is cautious of being involved in money-laundering schemes and is unwilling to disrupt the open plan nature of the store with security precautions.

However, taking cash for cryptocurrency is the raison d’être of Bitcoin Store, a chain of three physical exchanges established in Croatia.

According to Mario Radosevic, chief marketing officer of Digital Assets d.o.o., which operates Bitcoin Store, Croatia, which is not a member of the eurozone and uses the kuna as currency, is still a cash-heavy nation.

According to him, a real exchange opens up the crypto market to cash-carrying Croatians, many of whom are distrustful of banks. It also serves as a billboard for the company, which also provides an online service, as well as a venue where curious residents may ask any questions they have regarding cryptocurrency, he noted.

Crypto ATMs, which allow users to purchase and sell cryptocurrencies with a bank card or cash, provide consumers with another way to interact with currencies that cannot be touched.

El Salvador, which became the first country to accept bitcoin as legal cash last month, has 200 crypto ATMs in operation. Citizens can also withdraw their cryptocurrency funds in cash via 50 staffed branches of Chivo, the country’s official bitcoin wallet brand, located throughout the country, according to Salvadoran President Nayib Bukele.