“effortlessly ... redeem it for physical gold”
but a very high shipping fee and a minimum redemption amount no doubt.
A friend has dredged the Klamath for decades (no longer allowed to) and sells me some gold when he needs cash. The transfer is via USPS and does cost a bit, primarily to make sure it makes it to me. I believe the term is insurance.
It then stays in my gun safe. Usually one ounce increments.