BaFin issues warning against Bit Wise On June 7, 2024, the Federal Financial Supervisory Authority (BaFin) warned consumers about Bit-Wise and its services. BaFin has information that the company offers banking and/or financial services on its website without the necessary authorization. The company is not supervised by BaFin. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_06_07_bit-wise_co_en.html

BrokersView has reviewed that Bit Wise is an unregulated broker. Bit Wise fails to provide specific regulatory information to support its legitimacy, which is a clear indicator of a scam. Despite claiming to have offices in the UK, US, and Switzerland, there is no indication that it is registered with the relevant financial regulators in any of these countries. This indicates it operates in an unregulated environment.In addition, the Federal Financial Supervisory Authority (BaFin) has issued a warning against Bit Wise, stating that Bit-Wise offers banking business and/or financial services on its website without the necessary authorization and highlighting that the company is not supervised by BaFin.Essentially, Bit Wise is not regulated by any government agency. Entrusting it with investor funds is extremely risky, as there are no legal safeguards in place to protect them.Bit Wise appears to be a scam.

Bit Wise changes its domain name to avoid accountability Bit Wise has deactivated its previous domain name, bit-wise.co, and is now using the new domain name, bitwise-pro.com. The Federal Financial Supervisory Authority (BaFin) has noticed this change and updated its warning about Bit Wise. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2025/meldung_2025_01_08_bitwise_pro_com_en.html

BrokersView has identified that the Bit Wise website is currently offline BrokersView found that the domains "https://www.bitwise-pro.com/en/" and "https://www.bit-wise.co/" are currently inaccessible. This is widely considered a significant red flag, as broker website suspensions often indicate underlying regulatory or operational issues.

Is Bit Wise a legit dealer? No, Bit Wise is not a legitimate broker.Bit Wise claims to operate in the UK, US, and Switzerland but lacks the necessary regulatory proof, raising concerns about its legitimacy. Its absence from the financial regulators' lists in these countries suggests it may operate without proper oversight. Furthermore, the Federal Financial Supervisory Authority (BaFin) has issued a warning that Bit Wise conducts unauthorized banking and financial services and is not supervised by them. This warning provides compelling evidence of the broker's non-compliance.Given these circumstances, Bit Wise cannot be considered a safe trading environment for its customers. Investors risk losing their funds to this potentially fraudulent platform without any effective means of obtaining a refund. Therefore, it is strongly advised to avoid unlicensed brokers like Bit Wise and instead opt for fully regulated ones. View Source