Reason for this visit

East Asia and North America (primarily the United States) are the two largest cryptocurrency trading markets in the world, accounting for approximately half of the global cryptocurrency market volume. Compared to many exchanges in East Asia, US exchanges are subject to stricter regulations, and the US is home to the world's largest cryptocurrency exchange, Coinbase. In an attempt to help investors to gain a more comprehensive understanding of current cryptocurrency exchanges in the US, 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 the US to visit cryptocurrency exchange BIFA as planned according to its regulatory address that 1715 North Weber Street, Ste. 120, Colorado Springs, Colorado.

The investigators conducted a physical verification of cryptocurrency exchange BIFA at the above address, confirming the presence of a low-rise building situated in an average neighborhood, with no notable commercial activity observed in the immediate vicinity.

The building's exterior prominently featured “Matthews Vu” branding, indicating the primary tenant specializes in emergency medical services for both pediatric and adult patients - a business nature fundamentally incompatible with cryptocurrency exchange operations.

Attempts to access the building interior were unsuccessful due to a keycard-restricted entry system preventing lobby access. Exterior examination revealed a directory board listing multiple healthcare providers including clinics and diagnostic laboratories, with no reference to BIFA or any financial services entities. While the “Matthews Vu” logo was clearly visible on the building facade, no signage or other visual indicators relating to BIFA could be identified. The inability to gain entry precluded verification of any interior signage or confirmation of Suite 120's occupancy status.

As part of standard verification procedures, investigators conducted interviews with neighboring businesses and visitors, all of whom reported no familiarity with or knowledge of BIFA operating at this location.

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

Conclusion

The survey team went to the US to visit cryptocurrency exchange BIFA but did not find the company at the regulatory address. 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.