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 NETCOINS as planned according to its regulatory address that 410-1199 West Pender, Vancouver, BC, Canada V6E2R1.

Based on the aforementioned information, the investigation team arrived at the destination for this round of on-site verification—the office premises of NETCOINS. Upon reaching the target address, the investigators first observed the surrounding environment. The building is located on the fringe of Vancouver's downtown financial district, with relatively sparse pedestrian traffic and predominantly commercial office buildings in the vicinity. The building features a modern glass curtain wall design and is well-maintained.

After entering the building, the investigators immediately checked the directory board in the lobby. Although the directory listed multiple tenant companies, repeated verification revealed no mention of “NETCOINS” or any associated names. To further confirm, they consulted the company's official website but found no information regarding address changes or alternate names.

Following the provided address details, the team proceeded to Unit 406 on the 4th floor for verification. Upon arrival, they first located Unit 406 using the floor plan and conducted a systematic inspection of the entire level. However, no signage, door plates, or temporary notices related to “NETCOINS” were found—neither in the corridors nor on the room doors. The number “406” was clearly visible on the door, but there were no company names, logos, or promotional materials displayed, indicating only a generic office space.

The investigators attempted to enter the office area for further verification but found access restricted. The floor consisted mostly of independently leased units, with an active access control system requiring internal authorization for entry. Additionally, no company trademarks or branding elements were observed in the building's common areas, including corridors and elevator lobbies.

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

Conclusion

The survey team went to Canada to visit cryptocurrency exchange NETCOINS but did not find the company at its regulatory address. This signifies that the company might just register with the address without a physical 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.