Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world. In June 2020, the country passed a bill to completely legalize cryptocurrency, and cryptocurrency exchanges are classified as institutions that provide financial services. As a result, Canada has become the market that global crypto exchanges are competing for. To help investors get a more comprehensive understanding of the local exchanges, WikiBit survey team decided to go to Canada for on-site visits to the companies.

On-site visit

In this issue, the investigation team went to Toronto, Canada to visit the cryptocurrency exchange bitbuy as planned according to its regulatory address that Unit 341-110 Cumberland Street, Toronto, On, Canada, M5R3V5.

The investigation team arrived at the destination on May 8 in Toronto, the largest city of Canada, in southern Ontario on northwest coast of Lake Ontario. And the target building is situated near a shopping mall at 110 Cumberland Street.

After entering the building, the investigators didnt find the information of unit 341 from company directory except Suite 300-303. And only offices 300-303 could be seen on the target floor.

According to the related staff working nearby, they had no idea about this company. After an on-site investigation, it is confirmed that bitbuy doesnt have a presence here.

Conclusion

The survey personnel went to Toronto, Canada to visit the cryptocurrency exchange bitbuy, but didn‘t find the company’s office at its regulatory address, which suggests that the company doesnt have a physical business office here or it just registered with the address. Therefore, investors are advised to choose this exchange carefully.

Disclaimer

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