How Cryptocurrency Exchanges Work

Cryptocurrencies have long moved beyond being a tech curiosity and are now fully integrated into daily financial life. Today, digital assets are widely used not only for investment but also as tools for transactions, cross-border transfers, and capital protection. In Georgia, crypto is especially popular due to friendly regulations, low transaction fees, and broad acceptance of stablecoins like USDT.

With crypto adoption continuing to grow, a key question emerges: Where and how can you safely exchange cryptocurrency for cash—or vice versa? In this article, we break down how crypto exchanges operate, compare online and offline formats, and explain how the process works at GeCrypto, a licensed crypto exchange office in Tbilisi.

A crypto exchange is the process of converting one digital asset into another—or into fiat currencies like USD. This may be needed for:

• cashing out investments,
• switching to a more stable currency,
• accessing liquidity,
• or sending funds across borders.

In all cases, it’s essential to choose a reliable and transparent service that protects both your funds and your personal data.

Crypto exchange services typically fall into two categories: online and offline.

• Online exchanges operate through websites or apps. While convenient, they carry a number of risks: phishing attacks, wallet errors, delayed withdrawals, or even scams—especially when dealing with unregulated platforms.

• Offline exchanges, by contrast, require the client to visit a physical office to complete the transaction in person. This model offers a significantly higher level of security and is increasingly popular, especially in countries with active regulatory oversight.

GeCrypto operates exclusively offline, with no website-based trading or remote exchange. This eliminates risks tied to unauthorized platforms or online impersonation.

GeCrypto has been operating in Georgia since 2023. In October 2024, the company received an official VASP (Virtual Asset Service Provider) license from the National Bank of Georgia.

This license confirms that:

• GeCrypto is fully compliant with Georgian law,
• follows AML/CTF (anti-money laundering and counter-terrorism financing) standards,
• and operates under state supervision.

As of 2025, GeCrypto is among the few fully licensed and transparent crypto exchanges in Tbilisi.

All transactions take place only at the GeCrypto office, located at 5 Marjanishvili Street, Tbilisi. No online or remote exchange is provided.

Step-by-step process:

1. The client contacts a GeCrypto manager via Telegram, WhatsApp, or phone.
2. The current rate and commission are quoted. A specific amount can be reserved if needed.
3. The client visits the office: If buying crypto: they bring cash and provide a wallet address; If selling crypto: they transfer the crypto from their wallet.
4. The exchange is completed on the spot, and the client receives cash or a confirmed blockchain transaction.
5. Rates and commissions are fixed prior to execution.

Rates are updated daily and depend on market conditions, volume, and exchange direction. All fees are disclosed in advance, and there are no hidden charges.

GeCrypto applies robust internal controls to ensure secure transactions:

• Wallet address verification before transfers,
• Cash authenticity checks,
• 24/7 video surveillance at the office,
• Use of trusted blockchain networks such as USDT (TRC-20), ERC-20, BTC, and others.

All operations are recorded, and staff receive regular training in fraud prevention and client protection.

Before visiting the GeCrypto office, we recommend:

• Confirming the current rate and commission with a manager,
• Notifying the team in advance if you're exchanging a large amount,
• Testing your wallet if this is your first crypto transaction,
• Saving your receipt and all communications after the deal.

Although appointments are not required, reserving your transaction in advance ensures faster service and availability of funds.

In 2025, offline crypto exchange through a licensed provider remains one of the most secure and efficient options for converting digital assets. As the global crypto landscape matures, users are increasingly turning to transparent, regulated solutions that offer both safety and convenience.

GeCrypto offers:

• A central location in Tbilisi with a dedicated office,
• Transparent commissions and real-time exchange rates,
• Certified operations under VASP regulation,
• Personalized service and guaranteed transaction integrity.

To complete an exchange, simply contact a GeCrypto manager, agree on the terms, and visit the office. The rest is handled by a team you can trust.