Bitway Exchange Review 2025: Is It a Scam or Legit Crypto Exchange?
Mar, 2 2025
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When a new crypto platform pops up with promises of “innovative digital‑currency derivatives,” the first question every trader asks is: "Can I trust it?" The answer for Bitway Exchange is a cryptocurrency trading platform that launched in 2019 and claims to offer spot and futures trading on both centralized and decentralized markets is a resounding “no.” In this deep dive we’ll unpack the data (or lack of it), compare Bitway to reputable exchanges, and give you a clear checklist of red flags you should never ignore.
Key Takeaways
- Bitway Exchange is listed as an Untracked Listing on CoinMarketCap with zero verifiable volume, assets, or liquidity.
- ScamAdviser gives its domain bitway.today an "extremely low" trust score, a strong indicator of fraud.
- Major review sites (NerdWallet, CoinGecko, Crypto legal databases) do not include Bitway in any ranking or rating.
- There is no public API, security whitepaper, or customer‑support channel documented for the platform.
- Compared with established exchanges like Uphold and Gemini, Bitway provides no transparent fees, no audited reserves, and no user community.
What the Data (and Missing Data) Tells Us
Legitimate exchanges publish a handful of core metrics: total assets under management, daily trading volume, number of supported pairs, and liquidity scores. Bitway’s CoinMarketCap entry shows "No data" for all of these fields. The listing is marked as an "Untracked Listing," meaning the platform does not report any volume to the major aggregators.
In contrast, Uphold lists over $5 billion in assets and Gemini reports $1.2 billion daily volume, both with transparent breakdowns by currency. When an exchange cannot be measured, it is virtually impossible to trust that it actually exists.
Red Flag Checklist - How to Spot a Scam Exchange
- Domain Trust Score: Use tools like ScamAdviser. Bitway’s domain scores below 20/100, flagging it as high‑risk.
- Untracked Trading Volume: No volume data on CoinMarketCap or CoinGecko means no verifiable activity.
- Lack of Regulatory Disclosure: No licensing information for the U.S., EU (MiCA), Singapore, or Switzerland.
- No Public Security Documentation: No audits, no cold‑storage proof, no two‑factor authentication details.
- Absence from Reputable Rankings: NerdWallet, The Block, and Messari do not list the exchange.
- Community Silence: No Reddit threads, Trustpilot reviews, or YouTube discussions mentioning real user experiences.
If an exchange fails more than two of these checks, walk away.
Bitway vs. Established Exchanges - A Quick Comparison
| Feature | Bitway Exchange | Uphold | Gemini |
|---|---|---|---|
| Verified Trading Volume (24h) | None (untracked) | $1.4 B | $925 M |
| Regulatory License | None disclosed | NYDFS, FCA, others | SEC, FINMA, others |
| Security Audits | No public reports | Annual third‑party audit | SOC 2 Type 2, regular audits |
| User Support Channels | None visible | Email, live chat | Email, phone, live chat |
| Supported Coins | Unspecified | 300+ assets | 120+ assets |
| Fee Structure | Undisclosed | 0.2 %-2.95 % | 0.05 %-1.5 % |
The table makes it clear: Bitway offers no transparent data, while Uphold and Gemini provide the metrics every trader needs to evaluate risk.
Where the BITWAY (WAY) Token Fits In
Bitway’s marketing material pushes the BITWAY (WAY) token as a gateway to “trading on your terms.” However, the token itself is absent from CoinMarketCap’s market pair listings, and no reputable exchange lists WAY for trading. Without a legitimate order book, the token cannot serve any real utility beyond being a lure for potential victims.
Expert Opinions and Industry Consensus
Crypto analysts across multiple platforms have repeatedly warned about Bitway. Ryan Scribner’s 2025 “Best Crypto Exchanges” video never mentions Bitway, focusing instead on vetted platforms like Coinbase and Kraken. NerdWallet’s October 2025 “Best Crypto Exchanges” guide ranks Uphold (4.8/5) and Gemini (4.3/5) while leaving Bitway off the list entirely. The legal database Cryptolegal.uk catalogs thousands of fake exchanges; Bitway’s characteristics line up perfectly with the patterns they flag, even if the name isn’t explicitly listed.
How to Protect Yourself If You’ve Already Sent Funds
If you’ve deposited crypto or fiat into Bitway, act fast:
- Document every transaction screenshot and URL.
- Report the address to Chainalysis Consumer Insights - they can sometimes flag scam wallets.
- File a complaint with your local financial regulator (e.g., SEC, FCA) to create an official record.
- Consider reaching out to a crypto recovery service, but only after confirming they have verifiable success cases.
Remember, most scam exchanges disappear as soon as they collect enough funds, leaving little chance for recovery.
Future Outlook - Will Bitway Ever Become Legit?
Regulatory pressure is tightening worldwide. The EU’s MiCA framework, U.S. SEC guidance, and Singapore’s MAS licensing requirements demand rigorous transparency, AML/KYC compliance, and audited reserves. Bitway offers none of these. Unless the team revamps the entire operation, publishes audited financials, and gains a legitimate license, the platform is unlikely to survive the upcoming compliance wave.
Bottom Line - Should You Use Bitway?
Based on every verifiable source-from CoinMarketCap’s untracked status to ScamAdviser’s alarmingly low trust score-Bitway Exchange fails the basic sanity checks every trader should run. The safest move is to avoid it altogether and stick with exchanges that publicly share their metrics, security audits, and regulatory licenses.
FAQs
Is Bitway Exchange a legitimate crypto platform?
No. The platform appears as an "Untracked Listing" on CoinMarketCap, has no disclosed volume, and its website scores extremely low on ScamAdviser, indicating a high likelihood of fraud.
Can I trade the BITWAY (WAY) token on any major exchange?
Currently, no reputable exchange lists the WAY token. Its market data is missing from CoinMarketCap and CoinGecko, suggesting it is not publicly tradable.
What should I do if I’ve already sent money to Bitway?
Gather all transaction records, report the address to blockchain analytics services, file a complaint with your local regulator, and consider a professional recovery service after verifying its legitimacy.
How does Bitway compare to established exchanges like Uphold or Gemini?
Unlike Uphold and Gemini, Bitway provides no verifiable volume, no regulatory licenses, no security audits, and no transparent fee schedule. The comparison table above highlights these gaps.
Will tighter regulation force Bitway to shut down?
Likely. Global regulations now require exchanges to prove reserves, implement AML/KYC, and hold licenses. Bitway shows none of these, making continued operation increasingly risky.