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 to 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 BitNATIONAL as planned according to its regulatory address that 1525 W Broadway, Vancouver, BC V6J 1W6.

The investigators arrived at the designated location to conduct an on-site verification of BitNATIONALs office premises. Using navigation systems, they first pinpointed the target address at 1525 West Broadway, Vancouver - a retail district characterized by small-to-medium sized commercial establishments with moderate foot traffic, situated in a non-core business area.

Upon arrival, the inspection team confirmed the street number matched the registered address exactly. The building appeared as a two-story street-facing commercial property without any cryptocurrency or financial sector identifiers on its exterior.

The external environment appeared unremarkable, with no signs of bustling activity on the street. Prominently displayed on the glass entrance were markings for “Massage Works” and massage service signage, with no visible indications of “BitNATIONAL” branding, logos, or business promotion materials. The absence of any company directory at the building entrance further raised doubts about the target company's presence.

Investigation attempts were hindered when access to interior spaces proved impossible. External observations revealed a simple reception area behind the glass doors, lacking digital displays or financial service promotional materials typical of cryptocurrency businesses. Notably, while no BitNATIONAL identifiers were visible inside, “Massage Works” branding was clearly displayed, with service offerings exclusively related to massage therapy - completely unrelated to cryptocurrency or financial services.

Despite being unable to access upper floors, inquiries with neighboring businesses confirmed the second floor served as an extension of the massage service center, with no independent offices or co-working spaces present. Property management personnel verified that “Massage Works” currently stands as the sole tenant, with no other registered businesses operating at the location.

Through the on-site investigation, it is confirmed that BitNATIONAL does not have a physical presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange BitNATIONAL, but did not find the company at its regulatory address. This signifies that the company might just register with the address without a physical business office at the place. Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

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