Bova Coin

1 Total Score
Bova Coin - Altcoin Trading

In the current bear market their daily interest rates seems to good to be true.

Daily Interest Rate
10
Social Media Pressence
4
Hype
3
Website
3
Exchange
1
PROS
  • Impressive daily interest rate
  • Auto re-invest option
CONS
  • No updated whitepaper
  • Not a fleshed out exchange
  • Daily interest rate to good to be true
  • Possible PONZI SCAM!
User Rating: 2.67 (3 votes)

Register Account with Bova Coin

Update - 2018.07.30

The Bova Coin website has been unreachable for some days now, I can only assume they pulled an exit scam. This doesn’t come as a surprise since there was a lot of red flags with this platform.

What Is Bova Coin?

To be honest I have no idea, they offer little to no information on their website and the information they do provide is generic blockchain information. Basically Bova Coin brings nothing new to the table and from what I can tell this looks like a basic lending platform. Bova Coin is quite new to the game and they just recently ended their ICO on the 24th of March.

How Does Bova Coin Make Money?

From what I can tell they make their profits purely on trading altcoins and they offer copycat trading so you can follow in their footsteps.

The Bova Coin Smart Staking Platform

Smart staking is pretty much just another term for lending and it Bova Coin offers 4 tiers of smart staking with amazing bonus interest rates and quick loans. The maximum daily interest can not exceed 5%, but I doubt that will ever be an issue. The tier system has some gaps and I’m really not sure what happens when you make a loan of lets say 5050$, what tier will you get a bonus from? They do offer an automatic  re-invest option that I know many love for compounding.

Staking AmountInterestCapital Back
$ 100 – $ 1,000Daily Variation Rate120 Days
$ 1,100 – $ 5,000Daily Variation Rate +0.15%80 Days
$ 5,100 – $ 10,000Daily Variation Rate +0.25%70 Days
$ 10,100 +Daily Variation Rate +0.30%50 Days

The Bova Coin Staking Program

You can also just opt in for the regular staking program which can only be done through their website.  The amount of Bova Coins you stake will be locked for the staking duration and paid out at the end. It is possible to end  the stake at any time and get your staked amount of Bova Coins released, but you will NOT get any of your  interest, only your staked amount of coins. So lets assume you stake 1000 coins for 60 days, which will net you 60 coins a month, but you cancel you staking period after 30 days because you want out. You will then only get 1000 coins back and not the 1060 coins.

PeriodMonthly Interest
30 Days3%
60 Days6%
90 Days9%

Bova Coin Copycat Trading

The last option to make a profit with Bova Coin is copycat trading, which at first got me really exited. This however has nothing to do with the Bova Coin and it’s not possible to do through their website. This offer is pretty much just an information wheel with percentages of various altcoins they presumably have invested in. After having spent less than 1 hour at their site and checking back from time to time, this seems to just be random generated altcoins and percentages. This does not give any information on whether or when to buy in on any of the coins or when to sell. They claim to make 2-7% a day from altcoin trading, which seems suspiciously high to me.

The Team Behind Bova Coin?

The people behind Bova Coin have chosen to be anonymous, which again is normal for the lending platform space in general. From the whitepaper, and I quote:

“We are a diverse team of European experts with a passion for the intricacies of finance and Blockchain technology. Bovacoin is the expression of this passion.”

That is all they have chosen to say about themselves and to be honest this seems like google translate at best and provides little to no information.

But lets look at their domain and hosting situation. A simple whois lookup can provide a lot of information and from what I can tell as of today then they have not chosen a dedicated server for their site, 231 other sites are also hosted on their IP address. They registered their domain name in 2017-11-04 and it’s only valid for 3 years. I can understand they didn’t go for the long term lock-in of their domain because crypto is highly volatile, but not having the site hosted on a dedicated server is a huge red flag to me.

Their domain contact is protected by WhoIsGuard, which really isn’t a surprise at all since all website are these days, even mine.

The Bottom Line

I have not invested a single satoshi in this program and if you are considering to do so, just wait until you read my final words. There is a lot of red flags with Bova Coin and the hosting situation as I just explained above is enough for me to opt out. Why would they not at this point have invested some of the ICO money in to proper hosting to handle a large traffic amount. I really doubt their exchange alone can handle large volumes and maybe that is why you only can view 10 active buy/sell orders and trading history.

I have some huge doubts with their exchange as well, it doesn’t seem to be live at all and only updates on browser refresh. On top of that they do not disclose the total 24hr volume and the trading history seems to have an order every minute. Not a few trades within a minute and not longer breaks between trades, just a trade every minute. This just doesn’t seem organic to me and that’s they overall feel I have of Bova Coin, it’s fake.

The copycat trading feature is a gimmick and if that is what they base their business model on then we are back to the Bitconnect ponzi schemes days.

The information from they website and whitepaper is lacking and seems to be put together in a hurry. The information about staking in their whitepaper is different from what they offer now and it would really only take a few minutes for them to update. They do however share information on Telegram, but they have only made 3 posts since the end of their ICO. In two of their posts they claim to have updates their servers to better handle traffic load, but how does that add up when their site is on a shared hosting with 231 sites?

Another issue is their daily interest rates, since 17th of april they have provided between 1 and 2% of daily interest which is massive for this market and compared to other lending platforms. We have just seen 3 weeks of major corrections and money pouring out of the altcoin market, so either they are expert traders or they have money stowed away for rainy days. Even Bitconnect was not able to offer 1% daily when times were bad and look where they are at now.

If you plan to make money on Bova Coin then I would advise you NOT to lock in any loans and just play the exchange volatility, but that is a very dangerous game with the information they provide. Of course you are the master of your money and I can be totally wrong about this platform, so are you willing to take that chance?

Register Account with Bova Coin

4 Comments
  1. BovaCoin , SCAM, i made a withdraw over 2 weeks ago for .0385 btc, still dint receicve, and now there email support , is gone , …..Anyone else having these problems?

    • Yup me too, can we do anything?

    • Yup, me too, come to an end of a supposed contract, converted the BOC to BTC, tried to withdraw and nothing, there should be a way of checking block chain, but I am a complete novice. Part of these scammers is CRYPTO Radar on YouTube, who apparently made 100s of thousands per month?
      Any idea what to next or sap it up for being fools?

  2. Yeah, here’s another one. No withdrawal and no support…

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