Crypto Asset Statement - Worldcoin (WLD)

  • Updated

About this Statement

Bitbuy Technologies Inc. (“Bitbuy” or “we”) believes that our users should understand the crypto assets that they are able to trade using our crypto trading platform (the “Platform”). One of the crypto assets we offer on the Platform is Worldcoin (“WLD”). We created this summary to help you understand the basics of WLD as well as some of the risks involved in trading it. While we tried to describe the key features of HBAR here, this summary isn’t meant to tell you everything you’d want to know before investing in WLD. You should also do your own research on WLD to make sure you are comfortable investing in it.


Like other crypto assets, there are some general risks associated with investing in WLD. We describe many of these general risks in the risk statement we publish on our website, including risks relating to: (i) volatility; (ii) access, loss or theft, (iii) control of processing power; (iv) settlement of transactions on crypto asset networks; (v) momentum pricing; (vi) private keys; (vii) internet disruptions; (viii) faulty code; (ix) network development and support; (x) regulatory risk; (xi) network forks; (xii) air drops; (xiii) voting rights; (xiv) cybersecurity incidents and other systems and technology problems; and (xv) unforeseeable risks. We also point out some risks that are specific to WLD below. While we tried to describe the key risks associated with INJ here and in our risk statement, these aren’t all of the risks associated with trading in WLD. You should also do your own research on WLD to make sure you are comfortable investing in it.

WLD reliance on the Ethereum Network 

As WLD is an ERC-20 token on the Ethereum network, it is highly dependent on the continued stability of that network. Any fundamental issues in the Ethereum network may impact WLD’s smart contract or token value. Investors should consider this dependency when evaluating Worldcoin.  

WLD uncertain total token supply 

Worldcoin has a proposed supply cap of 10 billion tokens for the next 15 years, but has made it clear that the governance protocol can vote to raise this cap and implement token inflation mechanisms.

WLD dependence on WorldID verification

The Worldcoin ecosystem has a zero-knowledge ID proof system called WorldID which requires in-person enrolment that cannot be provided by Bitbuy and may not be available in Canada. Owning Worldcoin without a WorldID may limit a user’s ability to participate in tokenomics like airdrops. At this point in time, there are no known restrictions on governance or transacting in Worldcoin related to WorldID verification, but that does not mean that such restriction or requirement will not be introduced in the future.

Privacy concerns regarding WorldID data

Worldcoin’s system of human verification requires a retinal scan performed via physical device called an Orb. After scanning, humans can choose to allow worldcoin to store their retinal image data and use it to help their technology better learn to identify other retinal images. Authorities in France, Germany, Argentina, United Kingdom, Spain, and Kenya have taken some sort of action against Worldcoin including opening investigations, ordering the cesation of operations, or seizing warehouses relating to Worldcoin and its creators.2, 3


How Bitbuy Decides to List Crypto Assets 

Bitbuy reviews crypto assets before making them available for trading on the Platform. In making our decision to list a new crypto asset, we consider publicly-available information about the crypto asset, including (among other things) its creation, design, governance, usage, supply, demand, maturity, utility, liquidity, material technical risks and legal and regulatory risks.

To date, we have only made crypto assets available for trading on the Platform which have significant supply, demand and liquidity. In our experience, crypto assets with these qualities tend to also satisfy the other criteria we evaluate as part of our review. That being said, our review process is fulsome and flexible, and we don’t prioritize any one factor over another. You should review the risk statement published on our website for more information about our procedures for determining whether to make a crypto asset available for trading on the Platform.


Regulatory Information

Bitbuy is offering crypto contracts to purchase and sell in reliance on a prospectus exemption contained in the exemptive relief decision Re Bitbuy Technologies Inc. dated November 30th, 2023. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other provinces and territories of Canada would not apply in respect of a misrepresentation in this Statement.

No Canadian securities regulatory authority has expressed an opinion about WLD, including an opinion that WLD is not itself a security and/or derivative.



  1. “Worldcoin Tech Tree: Governance.” Worldcoin. 2024. 
  2. Edd Gent. “Worldcoin Launched. Then Came the Backlash.” IEEE Spectrum. August 28, 2023. 
  3. “Sam Altman's eye-scanning Worldcoin banned in Spain.” Reuters. March 6, 2024. 


Other Useful Links:

Worldcoin Project webpage:

Worldcoin official twitter: 

Worldcoin whitepaper: 


Last updated: March 5, 2024

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