Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world, with the government actively promoting the development of the digital economy, during which cryptocurrencies, as digital assets, play a significant role. Furthermore, Canada is home to multiple well-known cryptocurrency companies. In recent years, the Canadian government has invested substantial resources and money into research and applications of cryptocurrencies and blockchain technology, including decentralized identity authentication, smart contracts, and other areas, indicating that it will continue to play a crucial role in the era of digital economy in the future. As a result, Canada becomes one of the competitive markets for global crypto exchanges. In an attempt to help investors gain a more comprehensive understanding of current exchanges in Canada, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit cryptocurrency exchange bitda.io as planned according to its regulatory address that 500 - 7030 Woodbine Avenue Markham, ON, Canada L3R6G2.

The investigators came to 7030 Woodbine Avenue in Markham of Ontario, Canada for a visit to the exchanges office on October 25, 2023, and located a modern commercial building near the less bustling street. And there were a large pool of vehicles parking in front of the building.

Upon arrival at the building for further investigation, the survey personnel spotted a digital directory in the lobby, which displayed that suite 500 is occupied by “Moteyo Rogers” and “Markington Logistics”, without any information pertinent to “BBIN”. In the meantime, there was no reception area and security guards in the foyer.

Through the on-site investigation, it is confirmed that the company doesnt have a presence at the location.

Upon proceeding to unit 500 of the building by the elevator, the inquiry team failed to discover any company name nor logo at the office. According to the staff working at the reception, this was a co-working space, and they had never heard of the company “BBIN”.

Through the on-site investigation, it is confirmed that the company doesnt have a presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange BBIN, but didnt find the company at its regulatory address. This signifies that the company might just register at the place without a physical business office. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.