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 uBIT as planned according to its regulatory address that 66 Dowling Road, Alliston, ON, Canada L9R0G6.

The investigators came to 66 Dowling Road in Alliston of Ontario, Canada for a visit to the exchange‘s office on January 14, 2024, and located a residential building in a residential area. Along the quiet street stood two rows of apartment buildings. However, there wasn’t any information pertinent to uBIT including company name and logo, nor any sign of company operation nearby.

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 uBIT, but didnt find the company at its regulatory address. This signifies that the company might just register with the address without a physical business office. Accordingly, 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.