Company Information

Get to know The ABiT Network

The ABiT Network was a Nigerian company founded in 2017, which aimed to drive the adoption of cryptocurrency across Africa. It operated an ecosystem of products including ABiTrader (a cryptocurrency exchange), ABiT Go (a crypto and blockchain e-learning platform), ABiT Crowd (a real estate tokenization platform), and Tatcoin (its native utility token). The company ceased operations in 2021 following its collapse amid widespread allegations of it being a Ponzi scheme and a public warning from Nigeria's financial regulator.

Industry

Crypto CryptocurrencyPRIMARY
Financial Other Service

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The ABiT Network

Nigeria

Founded in

2018 (8 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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--/40

Reviews

--/60

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TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.

Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

Security Information :

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FSC

ASIC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.