Reason for this visit

Bahrain has become the first country in the Middle East to implement cryptocurrency trading, and has the potential for becoming another hotspot cryptocurrency market after Japan and Southeast Asia. To help investors get a more comprehensive view of the exchanges in this country, the survey team will visit Bahrain for on-site visits.

On-site visit

This time the survey team visited the cryptocurrency exchange Palmex in Palmex, with specific address at Bahrain FinTech Bay 3rd Floor, Arcapita Building Bahrain Bay BH 346, Kingdom of Bahrain.

The survey team arrived at their destination, the Bahrain FinTech Bay, the "Silicon Valley" of the Middle East, which provides a base for many fintech companies.

The survey team did not find the name of cryptocurrency exchange Palmex on the floor directory. To further confirm whether the exchange was located here, the team consulted with the building's office staff, who said they had not heard of it.

Conclusion

The cryptocurrency exchange Palmex was not found in the office area of Bahrain's very famous "Fintech Bay", which means that there is no real business premise of the exchange. Investors are advised to be cautious if trading with this exchange.

Disclaimer

The content is for informational purposes only and it is not intended as a recommendation or advice.