On June 7, 2024, the Federal Financial Supervisory Authority (BaFin) warned consumers about the company Bit-Wise and the services it was offering. BaFin has information that the company is offering banking business and/or financial services on its website without the required authorisation. 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

Bit Wise fails to provide any specific regulatory information to substantiate its legitimacy, which is a scam indicator. While it claims to have offices in the UK, the US, and Switzerland, there are no indications that it is registered with relevant financial watchdogs within any of these countries. This means it is operating in an unregulated environment.

In addition, the Federal Financial Supervisory Authority (BaFin) has issued a warning against Bit Wise, stating Bit-Wise is offering banking business and/or financial services on its website without the required authorization and highlight that the company is not supervised by BaFin.

In essence,  Bit Wise is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

Bit Wise appears to be a scam.

Bit Wise has deactivated its previous domain name, bit-wise.co, and is currently using 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 found that the domain "https://www.bitwise-pro.com/en/" "https://www.bit-wise.co/"are both currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.