“Bora Band” Trading in the share market, or cryptocurrency, is a lucrative occupation. But there are lots of financial risks in this area of occupation. Millions of people became rich by being traders; on the other side, various people hit poverty by trading in the stock market.
The recent boom of cryptocurrency has attracted millions of people to start trading in cryptocurrency. Hence, it also raises the demand for cryptocurrency trading platforms. Various platforms on the internet allow users to trade in cryptocurrency. But one name is reaching a new height: Bora Band Trading Platform.
Bora Band Trading Platform
Bora Band is a trading platform that allows users to trade in cryptocurrency. It launched one year ago, at the end of 2022. It offers various features and options for crypto traders worldwide. As per the claim of this platform, a user can make profits of up to 4.5% per day. However, more contact information about the Bora Band trading platform is available. Besides, the fee structure should be more transparent. It causes suspicion about the legitimacy of trading platforms. However, the registration and withdrawal processes are complex; they should be more straightforward and effortless.
The Registration Process of the Bora Band Trading Platform
Like other trading platforms, a user also registers on the forum to trade in the cryptocurrency on the Bora Band. Here are the steps to register on this platform:
- Visit the Bora Band’s official website.
- Go to the registration option.
- Add the necessary details. (the username, email address, and password)
- Enter the verification code
- Enter the withdrawal password. (This password would be required at the time of withdrawal.)
- Hit the register button.
The account creation process is complete. Once the account is created, the user must verify himself on the platform.
The Verification Process of Bora Band
As per most government rules, if a person trades in the stock market or cryptocurrency, they have to add those sources of income to their financial records. Hence, the trading platforms confirm the user’s financial details before trading. The steps to verify financial credentials are as follows:
- Go to the Official website of Bora Band
- Click on the setting
- Go to Account & Security.
- Click on the Identity Verification
- Fill in the required details, including name, PAN card number, Aadhaar card number, and address.
- Add the images of documents such as PAN cards and Aadhaar cards.
- Click on the submit button.
After that, wait 24 hours for confirmation from the Bora Band Trading platform. After the confirmation, a user can start trading in cryptocurrency.
How to Identify a Fake Trading Platform?
Various ways can help determine the legitimacy of the trading platform. But here, we will discuss the key indicators that can help you identify a fake trading platform. Here are the key indicators:
- The Design of the Platform:
The trading platform’s design indicates many things. As per the Bora Band Platform, a user must visit many options to make a trade. That seems confusing and challenging for the new users. Hence, when observing a new or trendy trading platform, keep its design in mind. The legit trading platform provides easy-to-navigate platforms for users to trade and use other features.
- Transparent Fee Structure:
The trading platform earns on every trade. So, the fine fee structure is necessary to know how much a trading platform charges a user for a trade. But Bora Band needs to provide such luxury to its users. Hence, it is a red flag.
- Contact Information:
Every trading platform contains contact information and a physical address for any issues. However, finding the contact information for the trading platform seems challenging. It also raises questions about the legitimacy of the Bora Band platform.
With the contact information of a platform, the user can inform the platform about the difficulties or issues with the platform.
- The Reviews:
In the case of the Bora Band Trading platform, various fraud cases were filed against the portal. Many users claim difficulty in the withdrawal process and need contact information on the platform to withdraw their money.
So, the users need help communicating with the platform’s support team. It sounds normal, but someone invested millions in the Bora Band platform and is now having issues during the withdrawal.
- Cyber Fraud Checkup:
It does not matter in which country you live; there must be a cybercrime department. Before using a new platform, go through the cybercrime portal to check for any complaints against this platform. In the case of the Bora Band Trading platform, multiple complaints have been filed by users about the fraud that happened to them.
Is the Bora Band Trading Platform Fake or Legit?
All the signs about the trading platform indicate it is fake. Still, various users filed complaints against this trading platform in the cybercrime department. An investigation is going on. Besides, multiple portals on the internet confirm the trading platform is a scam. These portals highly verify their claims regarding the Bora Band trading platform.
Conclusion
The Bora Band Trading platform has gained massive growth in recent times. However, it still needs to fulfill the claims made by the platform. Hence, various users filed complaints against it. But now, the trading platform is not accessible to many users. Some of the users claim that they invested very heavily in this platform. Due to this issue, they have to suffer significant financial losses.
The users should be aware of such kinds of cyber fraud. It is a must to check the platform before investing money in that platform. There are various legitimate platforms available on the internet for crypto trading. Choose your trading platform wisely because you can predict the trade but not the platform.