Reason for this visit

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

On-site visit

In this issue, the investigation team went to Toronto in Canada to visit the cryptocurrency exchange yesbit as planned according to its regulatory address that 5255 Yonge Street, Suite 1220, North York, On, Canada, M3B3N7.

The survey personnel arrived at the destination in Toronto, the largest city of Canada and the capital of Ontario on August 15. An office building is situated at 5255 Yonge Street, accessible by nearby public transportation. In the meantime, there was little traffic on the surrounding streets. In front of the building lies a company directory without any relevant information of exchange yesbit.

After entering the building, the investigators found the reception area and security guards in the foyer. However, taking photo werent allowed for stern security reasons.

And then the survey personnel arrived at the target floor by elevator, where the floor directory didn‘t showcase anything regarding yesbit, and didn’t spot any companys name and logo as well as any staff members at the entrance of room 1220.

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

Conclusion

The survey personnel went to Toronto in Canada to visit cryptocurrency exchange yesbit, but didnt find the company at its regulatory address. This suggests that the company may just register at the place without a physical business office. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

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