NAGAX Review 2022: Is This Social Trading Platform Safe?

What Is NAGAX?

NAGAX crypto exchange is an innovative trading platform launched in 2022 by a popular German Fintech, NAGA Group AG. NAGAX crypto exchange provides trading and brokerage services along with expert investors’ trading strategies to the NAGAX community, and it is headquartered in Tallinn, Estonia. However, read our NAGAX review further and know the insights.

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NAGAX is a centralized cryptocurrency exchange that offers a NAGAX wallet for its users to store their digital assets completely free of cost. The most notable aspect of the NAGAX platform is the social trading feature that enables users to communicate and share knowledge, monetize techniques, and trading strategies in the most social-media-like environment.

NAGAX platform offers an enriching NAGAX Academy that makes the social crypto trading platform more interactive and educational. Additionally, the cryptocurrency spot trading feature allows users to enjoy the different order types, including limit orders, market orders, stop market orders, stop-limit orders, trading stop market orders, copy trading features, etc. Hence, the NAGAX social crypto trading platform is ideal for beginner traders and professionals.

In this NAGAX review, we will highlight the exchange’s services, products, Naga Coin (NGC), NAGAX Creator Fund, NAGAX NFT marketplace, share trading strategies, NAGAX Academy feature, NAGAX trading fees, NAGA’s attempt to provide a user-friendly social crypto trading exchange, and many more.

NAGAX Origin & Background 

NAGAX is brand-new crypto and social trading platform launched in 2022 that will soon become a Web 3.0 NAGAX crypto exchange, allowing users to trade information and share content. The standalone product offers cryptocurrency brokerage and a social trading feature, such as buying and selling various digital assets such as Bitcoin, Litecoin, Ethereum, XRP, Dogecoin, etc., and a wide range of non-crypto assets.

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As many other crypto platforms, the NAGAX trading exchange offers NAGA Coin (NGC), a native token introduced during the 2017 Initial Coin Offering (ICO). Through the NGC ICO, the company crowd funded the main launch of the social trading platform and the overall NAGA exchange.

The NAGA environment works similarly to how social media platforms work. NGC token holders can interact with others and enjoy several perks within the NAGA ecosystem if they use NGC tokens for making payments and crypto-staking on the exchange.

Working of NAGAX 

Sign Up and Get Verified Instantly

Anyone can join the most popular and fastest-growing crypto community and access the world’s first social trading platform, NAGAX, which offers a secure exchange and wallet.

Buy, Sell or Exchange Easily

Users can register, create an account, and get verified instantly without submitting documents. NAGAX offers a simple trading process for users to buy, sell, or exchange cryptocurrencies in the easiest way possible. Register in a minute, deposit funds in the NAGAX wallet and start instantly buying, selling, and trading cryptocurrencies.

Receive Your Coins

NAGA Coin holders can use it to pay for trading fees, claim trading discounts, launchpad crowdfunding, and staking.

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Is NAGAX Legit?

NAGAX social trading platform has made necessary efforts to provide a legit exchange to cryptocurrency investors. There have been no complaints on the grounds of security ever since its launch. NAGAX is the safest crypto exchange in crypto world that has implemented the following security measures to ensure a safe environment for all crypto traders.

• Multi-layered multi-party computation technology.
• Encrypted and hosted online crypto wallet.
• Compliant with relevant local laws and international financial regulations.
• SSL Encryption protocols, firewalls, and two-factor authentication.

Why Choose NAGAX?

There are various reasons why traders prefer the NAGAX trading platform:-

• NAGAX supports deposits in both fiat and cryptocurrencies.
• It offers an intuitive interface that is suitable for both beginners and professionals. The interface has been borrowed from the NAGA Exchange and tested several times over many years to provide the most seamless, beginner-friendly user interface.
• It supports bank-grade security features to protect the entire infrastructure and keep NAGAX users’ digital assets in secure cold storage.
• The exchange is compliant with global financial standards, including anti-money laundering, counter-terrorism financing, and proliferation financing risk factors. It is also monitored under the local regulations of Estonia.
• Being a multi-asset exchange, NAGAX users can access over 80 leading digital assets from more than 150 countries.
• The platform charges extremely low fees. Low trading fees are a great advantage for all traders, especially beginners. They get to enjoy high discounts with larger holdings of NGC tokens.

Services Offered by NAGAX

Spot Trading

One of the main services available at NAGAX is spot trading, which allows buying and selling over 50 currency pairs of major cryptocurrencies. Within the spot trading interface, traders can choose from various order types, including limit orders, market orders, stop-limit orders, stock market orders, and trailing stop market orders. The wide variety of order types allows traders to create different trading strategies by conducting their own research based on their investment objectives.

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Copy Trading 

NAGAX offers a copy or social trading feature borrowed from its main Naga Group AG. Copy trading is a brilliant option as it provides news feed and relevant knowledge from the crypto world, creating a social media-like framework where beginners and experts can interact. Copy-trading feature reduces numerous costly mistakes that most beginners make while cryptocurrency trading, and the feature also ensures to monetize of expert traders. Copy-trading tips ensure that the receivers follow everything, and the tips can be modified according to the traders’ needs, present values, goals, and risks.

Crypto Brokerage

The NAGAX brokerage platform acts as a middleman connecting buyers and sellers to facilitate crypto trades. Traders can buy and sell leading cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, using other crypto assets or via bank transfers or payment cards like MasterCard and Visa. Note that when it comes to crypto staking, users can earn passive income depending on the coin they stake in.

Products Offered by NAGAX

NAGAX NFT Marketplace

NAGAX recently launched the NAGAX NFT marketplace for NFT creators and collectors to create, buy, and sell unique NFTs without changing the exchange each time they wish to view the NAGAX NFT marketplace.

NAGAX can operate as an NFT marketplace as NFT traders can buy, sell, and trade NFTs. Additionally, since NAGAX NFT is built on major blockchains, including the ETH blockchain, the NFTs can be shared, withdrawn, traded, and minted on the Ethereum Blockchain.

Furthermore, artists can create digital storefronts to display their collections, art, and many more. Currently, the NAGAX Creator Fund or NFT collection launchpad promises to offer $100,000 as cash to the users for marketing collections.

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NAGAX Crypto Wallet

NAGAX exchange wallet supports more than 1000 digital assets and over 20 blockchains. However, one must note that not all customer assets stored in the wallet are tradable as the exchange may not accept them as trading currency pairs. The wallet is well integrated with various other services such as trading and brokerage features.

Private keys of the wallet are stored via multi-party computation, encrypted protocols, offline storage, and a two-factor authentication system that makes the wallet highly secure for all NAGAX users, including beginners. Trading funds are easily accessible from the crypto wallet, while the digital assets purchased are safely and automatically stored within the wallet.

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Stake & Earn

According to this NAGAX review, the social trading platform has not wasted a moment providing multiple staking opportunities to beginners and professional traders. NAGAX offers a staking platform where users can stake their cryptocurrencies and lock them while earning APY or annual percentage yield. Based on the staking coin, users can earn a passive income of variable amounts.

At the time of writing this NAGAX review, the cryptocurrencies that NAGAX support are Bitcoin, Bitcoin Cash, Ethereum, Axie Infinity, Cardano, Polkadot, Polygon, USD Coin, USD Tether, Naga Coin, etc. Staking can be done for a day, a week, or a month and there are no minimum limits or fees paid for NAGAX staking.

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NAGAX Review: Pros and Cons

NAGAX Sign Up Process

NAGAX features a simple and quick registration process for users to create a trading account in under 5 minutes. To get started with the NAGAX copy trading and social trading platform, follow the simple steps given below:-

• Go to the NAGAX official website and navigate to the Sign Up/Login button on the top right corner. Alternatively, users can scroll down to read the terms and conditions before creating an…