Bitop calls itself a world-leading cryptocurrency exchange with more than 100,000 users, but based on online reviews, we don’t think so because they are few. More interesting is the company’s regulation, as its official website claims control by the SEC, as well as FinCEN and FINTRAC from Canada. However, the crypto exchange also offers a leverage of 1:100, which is generally impossible with SEC regulation. Can this be considered a sign of a safe company for cooperation or not?
How to Trade
Bitop offers a variety of services to its clients beyond spot trading. Traders can earn both on the rise and fall of cryptocurrencies with leverage up to 1:100. Additional opportunities for users can be highlighted as follows:
Binary options.
Copy-trading.
Referral program.
Instant swap.
Leverage up to 1:100 and binary options in Bitop, given the supposed regulation by American financial commissions, look very doubtful and contradictory. This is because such services are prohibited by US regulators.
Trading is conducted on its own terminal. In addition, the exchange has developed applications for Android/iOS smartphones. The platform supports basic functions, such as pending orders, order book, and technical analysis.
Bitop Vital Info
The platform does not disclose its founding date, although the attached certificates show 2021, hinting that the exchange appeared even earlier. The domain was registered in 2020, but it’s worth checking WebArchive for snapshots that can provide additional information. However, the WebArchive check gave us nothing. Although the website only transformed into its current form in 2023, there were some problems before that.
The firm is registered as a Money Services Business in FinCEN and FINTRAC. We checked the registries, and indeed, such a company is listed there. Whether the bitop.com website belongs to this organization or not is another question. However, a search on the SEC did not show us the presence of the cryptocurrency exchange.
FAQ
What are the key facts about Bitop?
The platform looks contradictory. On the one hand, there are records in FinCEN and FINTRAC, but these are not regulators but agencies fighting financial crimes, so the presence of such certificates does not guarantee the safety of clients. In addition, the SEC certificate mentions a different legal entity - UBS Financial Investment Management LTD. The founding date, brand development history, and legal addresses are somehow missing, although American exchanges are supposed to disclose all this information. Also, the absence of other licenses, for example, in Europe, looks strange. The total number of users exceeds 100,000, but online reviews are scarce, and the platform is absent in crypto ratings like Coinmarketcap or Coingecko.
What's the risk to my wallet when working with this exchange?
In the cryptocurrency industry, reputation and transparency play a major role. Bitop has neither. Trading and investing in digital currencies carry a huge risk of losing capital, as their prices can plummet to almost zero. In addition, the platform offers credit leverage in huge sizes, which also significantly increases the risk. Lastly, the firm might be fraudulent and counterfeit, meaning the money could be stolen.
How can I give my thoughts about bitop.com?
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The Goods & The Bads
The firm is indeed registered with FinCEN and FINTRAC.
Offers a variety of additional services.
Lacks regulation from the SEC and other financial commissions.
The exact duration of the operation is unknown.
Low popularity; there are too few reviews on the internet.
The exchange is not listed in popular cryptocurrency monitoring and rating systems.
Anonymity and secrecy.
Domain:bitop.com
Foundation year:2020
Domain registration:04/09/2020
Address:2967 Dundas Rd, St. W., Toronto, M6P 1Z2, CA
I can't withdraw money from Bitop - does everyone have this situation? I applied for a withdrawal, but I was told that I need to provide documents for KYC. I uploaded my passport and bank statement, but the documents have been under review for more than two weeks. Because of the uncompleted verification, I can't withdraw funds. This is the situation. Has anyone encountered something similar? I smell a scam, I don't want to, but for now, it seems like it.
Firstly, nothing is known about the crypto exchange. And it is very strange, especially considering its launch date in 2018. Is there information about the platform anywhere other than review sites? No. This shouldn't be the case. Secondly, none of the cryptocurrency space's influencers are subscribed to Twitter, Instagram, or other social media accounts. Thirdly, the website. According to webarchive, it only started working properly in 2023, and before that, there were some technical works and problems. How did the exchange operate? Fourthly, the poor design of the personal account and some errors. For example, in the personal account, it is written step by step what you need to do to start trading. The third step is described like this: “Deposit22222” - what are these 2s, did someone accidentally press the number 2 or did a cat run over the keyboard?
In short, there are a lot of red flags. Bitop doesn't really tell anything about itself. The cryptoexchange does not have the reputation of a reliable crypto partner. You can easily lose money.
Scammers and fraudsters... don't dare to invest money because you will lose it... a clever scam, outright fraud, and illegal activity... certificates and licenses belong to other companies...
I transferred $100 in Ethereum to Bitop, the crypto arrived. I traded for a little while but realized that it was not profitable. Now I want to withdraw, but they won't let me. What should I do?
They are scammers with a made-up team and fake positive reviews. You can't trust positive comments on the internet. I have more than 300 chats and channels dedicated to cryptocurrency on my Telegram. And there's not a single mention of "Bitop". As if the exchange doesn't exist.
Another pseudo-exchange whose task is to steal money from people. I am 100% sure that a platform like this (bitop.com website) cannot officially and legally operate in the USA or Canada. It looks like an outright scam. Leverage of 1:100 and even more, and binary options - where is the SEC looking? Nowhere, because this platform is fake. And the real Bitop company is involved in some other business.
Scammers took an existing legal entity in the USA and Canada and then created fake social networks, a website, and a counterfeit exchange to scam people. This is a very old fraud scheme, so be careful.
The best exchange at the moment with the most favorable conditions. The platform is very simple and super user-friendly. I quickly learned to use the terminal. Funding the balance is fast, and withdrawals are also without problems and delays. Moreover, there are many assets for deals, not just BTC, ETH, and LTC.
I initially only traded spot, but then switched to leverage, not taking more than 1:10, as it is still a huge risk. I can only say good things about the platform. Moreover, online reviews are also predominantly positive, which is a good sign. I recommend trying Bitop, as it is an experienced player in the cryptocurrency industry.
The interface is normal, works swiftly and quickly, but I haven't checked the withdrawal of funds yet, so I need to verify that. Thus, I don't recommend it for now.
I have been trading in Bitop since 2022. An experienced trader who makes good money with cryptocurrency trading told me about the platform. It's safe here - that's for sure, because the platform is controlled by American regulators. At the same time, there is no risk of being shut down, as it is also registered in FinCEN, which cancels the risk of the exchange trying to launder money, meaning users can safely go about their business, whether copying others' trades or trading independently. The exchange makes it convenient to carry out operations, credits/debits happen instantly, and the commissions are pleasing. Additional income is possible thanks to a profitable partnership program. In short, there are many opportunities here that need to be used. I like the exchange, although there are minor shortcomings, but I won't talk about them because they are insignificant.
Doesn't it seem to you that this crypto exchange looks suspicious? Of course, I'm not sure if it's a real company or a fake, but I have my suspicions. I checked the certificates listed on the site, two of which are real, but I found nothing in the SEC. Moreover, the certificate mentions a different name, while the FinCEN document is indeed for Bitop. Why are there different legal entities? Also, why does the official website not possess any information? Open any legal American exchange, and you will see all the data: legal address, documents, contacts, names of the leaders, etc. But here there is nothing. It seems like just a website that took someone else's certificates or drew them in Photoshop. How is this possible? I don't know. Meanwhile, they claim to have 100,000 clients, but I don't see that many users because there are too few reviews on the internet. And how has no one heard of Bitop in a few years? The platform is not discussed on Twitter, and even on Coinmarketcap, it is absent. Very strange. I recommend not taking the risk.
I don't like how the crypto exchange looks. It seems like a scam, to be honest. Can it be that in several years of operation, supposedly since 2018, Bitop couldn't break into the top and gain any reputation or popularity? I don't believe it. Coinmarketcap, DefiLama, or Coingecko know nothing about such a platform. On Twitter, NO ONE during this time has said or mentioned anything about the company. There are only comments on review sites, where it's easy to buy reviews. I consider the platform to be a fraud; it's my opinion.
I can't withdraw money from Bitop - does everyone have this situation? I applied for a withdrawal, but I was told that I need to provide documents for KYC. I uploaded my passport and bank statement, but the documents have been under review for more than two weeks. Because of the uncompleted verification, I can't withdraw funds. This is the situation. Has anyone encountered something similar? I smell a scam, I don't want to, but for now, it seems like it.
Firstly, nothing is known about the crypto exchange. And it is very strange, especially considering its launch date in 2018. Is there information about the platform anywhere other than review sites? No. This shouldn't be the case. Secondly, none of the cryptocurrency space's influencers are subscribed to Twitter, Instagram, or other social media accounts. Thirdly, the website. According to webarchive, it only started working properly in 2023, and before that, there were some technical works and problems. How did the exchange operate? Fourthly, the poor design of the personal account and some errors. For example, in the personal account, it is written step by step what you need to do to start trading. The third step is described like this: “Deposit22222” - what are these 2s, did someone accidentally press the number 2 or did a cat run over the keyboard?
In short, there are a lot of red flags. Bitop doesn't really tell anything about itself. The cryptoexchange does not have the reputation of a reliable crypto partner. You can easily lose money.
Scammers and fraudsters... don't dare to invest money because you will lose it... a clever scam, outright fraud, and illegal activity... certificates and licenses belong to other companies...
I transferred $100 in Ethereum to Bitop, the crypto arrived. I traded for a little while but realized that it was not profitable. Now I want to withdraw, but they won't let me. What should I do?
They are scammers with a made-up team and fake positive reviews. You can't trust positive comments on the internet. I have more than 300 chats and channels dedicated to cryptocurrency on my Telegram. And there's not a single mention of "Bitop". As if the exchange doesn't exist.
Another pseudo-exchange whose task is to steal money from people. I am 100% sure that a platform like this (bitop.com website) cannot officially and legally operate in the USA or Canada. It looks like an outright scam. Leverage of 1:100 and even more, and binary options - where is the SEC looking? Nowhere, because this platform is fake. And the real Bitop company is involved in some other business.
Scammers took an existing legal entity in the USA and Canada and then created fake social networks, a website, and a counterfeit exchange to scam people. This is a very old fraud scheme, so be careful.
The best exchange at the moment with the most favorable conditions. The platform is very simple and super user-friendly. I quickly learned to use the terminal. Funding the balance is fast, and withdrawals are also without problems and delays. Moreover, there are many assets for deals, not just BTC, ETH, and LTC.
I initially only traded spot, but then switched to leverage, not taking more than 1:10, as it is still a huge risk. I can only say good things about the platform. Moreover, online reviews are also predominantly positive, which is a good sign. I recommend trying Bitop, as it is an experienced player in the cryptocurrency industry.
The interface is normal, works swiftly and quickly, but I haven't checked the withdrawal of funds yet, so I need to verify that. Thus, I don't recommend it for now.
I have been trading in Bitop since 2022. An experienced trader who makes good money with cryptocurrency trading told me about the platform. It's safe here - that's for sure, because the platform is controlled by American regulators. At the same time, there is no risk of being shut down, as it is also registered in FinCEN, which cancels the risk of the exchange trying to launder money, meaning users can safely go about their business, whether copying others' trades or trading independently. The exchange makes it convenient to carry out operations, credits/debits happen instantly, and the commissions are pleasing. Additional income is possible thanks to a profitable partnership program. In short, there are many opportunities here that need to be used. I like the exchange, although there are minor shortcomings, but I won't talk about them because they are insignificant.
Doesn't it seem to you that this crypto exchange looks suspicious? Of course, I'm not sure if it's a real company or a fake, but I have my suspicions. I checked the certificates listed on the site, two of which are real, but I found nothing in the SEC. Moreover, the certificate mentions a different name, while the FinCEN document is indeed for Bitop. Why are there different legal entities? Also, why does the official website not possess any information? Open any legal American exchange, and you will see all the data: legal address, documents, contacts, names of the leaders, etc. But here there is nothing. It seems like just a website that took someone else's certificates or drew them in Photoshop. How is this possible? I don't know. Meanwhile, they claim to have 100,000 clients, but I don't see that many users because there are too few reviews on the internet. And how has no one heard of Bitop in a few years? The platform is not discussed on Twitter, and even on Coinmarketcap, it is absent. Very strange. I recommend not taking the risk.
I don't like how the crypto exchange looks. It seems like a scam, to be honest. Can it be that in several years of operation, supposedly since 2018, Bitop couldn't break into the top and gain any reputation or popularity? I don't believe it. Coinmarketcap, DefiLama, or Coingecko know nothing about such a platform. On Twitter, NO ONE during this time has said or mentioned anything about the company. There are only comments on review sites, where it's easy to buy reviews. I consider the platform to be a fraud; it's my opinion.