Bitwiner (bit-win.xyz) is a cryptocurrency trading platform with a domain registered on February 27, 2024. This broker primarily offers trading services for various cryptocurrencies, including Bitcoin, Ethereum, Uquid Coin, Enjin Coin, Neo, and Neogas, and does not provide services to any jurisdictions where it may violate local laws.
Company Registration Information and Regulatory Status
According to publicly available information on Bitwiner's official website, the platform claims to be registered in the Republic of Estonia, under GDP Limited, with registration number 14556327, and authorized by the local financial intelligence unit to provide services for exchanging virtual currencies for fiat and wallet services, with license numbers FVR000604 and FRK000513. However, on the "User Agreement" page, the platform is shown as a US company, registered under Tebi Holdings Co. Ltd.
Further investigation reveals that the Estonian Financial Supervision and Resolution Authority (FSA) has not found a regulated company named GDP Limited, nor are there any license records for FVR000604 or FRK000513. Similarly, the US Financial Industry Regulatory Authority (FINRA) website has no relevant information about Tebi Holdings Co. Ltd.
Therefore, Bitwiner (bit-win.xyz) is essentially an unregistered, unregulated fraudulent platform.
Account Opening Process
The steps to open an account on the Bitwiner platform are as follows:
- Visit their official website and click the "Sign Up" button at the top right corner of the page.
- Fill in personal information, including name, phone number or email, set a password, and submit the account application.
- Once approved, you can log in to your account and start trading.
Trading Platform and Fund Operations
Bitwiner claims to offer a web-based proprietary trading platform. However, their website does not provide detailed information about supported deposit and withdrawal methods, related fees, or minimum deposit and withdrawal amounts, leaving users with a lack of transparency in fund operations.
Risk Warning
Virtual currency trading is not regulated by law, and the trading risks are solely borne by the users while the service provider has absolute control over its operations. Before deciding to invest in cryptocurrencies, investors should carefully consider the following risk factors:
- Global Risks: Due to the decentralized nature of cryptocurrency trading and ICOs, such activities are usually difficult to trace and cannot be attributed to any specific legal jurisdiction.
- Issuer Risk: Most token issuers are startups, usually lacking an operating history and financial data, making it difficult for investors to effectively assess their credit status. Additionally, startups face a high risk of operational failure. In the worst-case scenario, issuing companies may not be formally registered or it may be difficult to verify the true identity of their core team members.
- Speculative Investment: The value of tokens is often not transparent, belonging to a highly speculative asset type, with prices potentially fluctuating dramatically in the short term. If the tokens lose value, investors may face a total loss of funds.
- High Yield Temptation: Promises of high returns should be eyed with caution. The higher the promised returns, the greater the potential risks, and investors should be wary of such unrealistic promises.
- Fraud Risk: Due to the anonymity of cryptocurrency transactions, related fraud, money laundering, and terrorist financing risks are significantly increased; investors should pay high attention to this.
Conclusion
Traderknows warns investors that Bitwiner (bit-win.xyz) is a suspicious platform lacking a legitimate corporate background and regulatory oversight. Investors are advised to prioritize platforms that are transparent, regulated by reputable authorities, and have a strong reputation to reduce investment risks and avoid financial losses.
Currently, Traderknows has marked this platform as "Suspected Fraud."
