Bitcoin Forum

Bitsmo has successfully obtained Cryptocurrency License, and we are proud to announce that Bitsmo is now a holder of both Cryptocurrency Trading License and Estonian Business License. Despite the crypto market being saturated, our innovative trading facilities and diverse features will get us an upper hand over our competitors.

Bistmo will be launching soon with our fully-regulated trading platform in collaboration with Modulus Global! Make sure you follow us on Facebook, Twitter, Medium to not miss out on any updates!

We have always been an authentic cryptocurrency exchange platform, operating in collaboration with Modulus Global.

Estonia Business License
https://imgur.com/L6yrgm3

Crypto Licenses (BITSMO)
https://imgur.com/JPKwbkU

Congratulations and I hope you guys have a long term plan to trading cryptos as I see that your registration with your domain will expire by 2019-05-21 less than 100 days from now. A new exchange site is good to the community because this empowers crypto users to choose which exchange site to use based on the functions and features.

Having more exchange would really give out more options for us traders but i would like to say that this competition about exchanger field wont really be that easy for a new one.
Even its licensed or do offer some features compared to other competitors it wont still guarantee that you will able to get a marketshare together with the big exchangers as of this moment.
Focus on marketing if you do already launch your site and this will help out and goodluck for your new exchange and its good you do focus on licensing to add up some credibility.

Seems like we're getting more and more of these guys hopping onto the Estonian crypto licence train. Does look like it hasn't become harder to obtain, curious as to why they waited to long to make the announcement after getting it.

Query to OP, as I've just mentioned the 5th AMLD in another thread, I'm wondering now if there's been any further communication or instruction to your business, as it surely comes in under a payment institution definition for digital/virtual currencies. On that note, what kind of alerts are you getting or are you put on any subscription for AML/KYC messaging from the EU?

Yeah, it's quite easy. There is more than 900 license issued already[1]. Maybe because the government wants to use this to get more taxes? There are two kind of license it seems, the license to provide cryptocurrency wallet services and crypto exchange services. You got both and you can start your own exchange.

[1] https://news.bitcoin.com/estonia-issues-over-900-licenses-to-cryptocurrency-businesses/

Basing in Estonia give some advantages to the crypto business there and users as it has introduced Bussiness Licence to the crypto companies operating there. More than 900 of them are issued until which is a huge boost in the crypto business and economy in the area

But still, there is a decent amount of risk involved in the crypto exchange business all around the world. As we all know the recent cryptopia hack had trigged the securities of most to the exchange out there and provokes instability in the exchange users. This can happen with nay working exchange in any place around the world. So trusting an exchange only with its trading and business licenses looks a bit harder to me. Still, have a license to operate business matters and increases trustworthiness and credibility of any crypto exchange.

So, Good Luck for your exchange and future journey in the adventurous crypto world Bitsom and take care.

Very nice, but I'm not surprised though as Estonia is really embracing crypto and considering as one the those countries in Baltic wherein bitcoin and other crypto are on the rise and legal framework is only put up in the last couple of years. Anyways, I'm sure you are aware of the state of crypto platform around, specially hacks and other exploits and vulnerabilities. I do hope that you prioritized this one as well together with good customer service. Best of luck.

I'm afraid that you need to stop it right there ICOEthics just busted them last Novemeber 2018 (https://bitcointalk.org/index.php?topic=5062208.0). They were caught using stock photos for their team members' profiles so the certifications and licenses he provided in the OP might be fake too. ICOs like this one are common now, they seem to be here for a good cause but in reality they really don't care about Estonia or what they are trying to solve they are just here to steal your money.

Yes, ICOEthics did bust them. This is a scam exchange!

https://bitcointalk.org/index.php?topic=5062208.msg51357309#msg51357309