In 2023, the closure of LocalBitcoins, a widely-used peer-to-peer crypto platform, exposed a gap in the market for reliable connections between traditional fiat currency and cryptocurrencies. This situation emphasized the pressing need for innovative solutions that can assist ordinary users in converting digital assets to cash and vice versa smoothly and securely.

Addressing this demand is Wanda Exchange - a licensed cryptocurrency exchange that employs a unique voucher system to enable hassle-free cash-to-crypto purchases and crypto-to-cash withdrawals. Their approach, centered on merchants, offers a level of flexibility and accessibility that is often lacking in both centralized and decentralized finance platforms.

For individuals seeking to enter the crypto markets using cash, Wanda provides a straightforward process through a network of trusted retail partners. At these locations, users can acquire special crypto vouchers by exchanging cash in their local currency. These voucher codes are then easily redeemed on Wanda Exchange's platform to obtain cryptocurrencies like Bitcoin and Ethereum, among others. By bypassing traditional banking transactions, the voucher system presents a seamless way to enter the crypto space, particularly benefiting underbanked populations or those without bank accounts.

When it comes to cashing out digital assets, Wanda employs a similar voucher-based mechanism for crypto-to-cash withdrawals. Held assets can be transferred to a Wanda wallet, with users specifying the desired cash amount for withdrawal. Subsequently, Wanda issues a unique voucher code, which can be exchanged for the equivalent cash at one of their partner merchant locations. By simplifying fiat withdrawals to the level of cash deposits, Wanda caters to individuals seeking convenient transitions between cryptocurrencies and traditional currencies.

An aspect that distinguishes Wanda Exchange is its focus on incentivizing merchant engagement within its ecosystem. By enabling partners to earn commissions from both voucher sales and redemptions through designated merchant accounts, Wanda encourages their active involvement. Merchants are empowered to set commission rates on the flow of voucher cash, thereby unlocking new revenue streams without directly dealing with cryptocurrencies. Additionally, Wanda ensures the secure custody of user funds through its collaboration with Copper.co.

In a landscape where decentralized finance is increasingly converging with conventional financial systems, voucher-based platforms like Wanda Exchange underscore the significance of crafting accessible user experiences and inclusive entry points. In contrast to relying solely on bank accounts or complex platforms, voucher models offer a means for marginalized communities to engage in crypto markets conveniently, utilizing methods familiar from their existing cash-centric financial interactions. This approach not only streamlines the process but also makes the world of cryptocurrencies more approachable and inclusive to a broader spectrum of users.