NAGA Review – Cryptocurrency Guide
NAGA needs to be the smart cryptocurrency for stock trading and gaming. Find out how it works today in our review.
What Is NAGA?
NAGA is a cryptocurrency reported toward the beginning of November. The cryptocurrency is being created by the NAGA Group AG, a German fintech company headquartered in Hamburg.
The objective of the company is to make transactions in stocks and virtual products more secure and available to everybody. To do that, NAGA will dispatch its NAGA Coin (NGC) cryptocurrency.
The NAGA Coin fills in as a decentralized unit of figuring inside NAGA’s trading platforms, which include SwipeStox and Switex. SwipeStox allows users to buy, hold, and invest in values, CFDs, ETFs, and products, while Switex is a virtual merchandise marketplace where gamers can safely exchange virtual things.
The NAGA Coin token sale begins with a pre-sale on November 20, with the main ICO starting on December 1.
What Problems Does NAGA Seek to Solve?
NAGA tries to take care of a noteworthy issue with the present financial markets. Here’s the way the whitepaper explains the center issue the platform looks to understand:
“Investments and trading are led and represented by voracious banks and enterprises that control get to, work non-straightforwardly and dependably take a cut of your cash.”
NAGA means to take care of that issue by creating a single decentralized cryptocurrency for the financial market and gaming industry.
How Does NAGA Work?
NAGA’s answer is to make one decentralized cryptocurrency for different financial items, including:
Financial Markets (through their Swipestox platform)
Virtual Goods (Through Switex)
Cryptographic forms of money (Through their NAGA Wallet)
The company empowers everybody to profit on one platform in a basic, secure manner without the requirement for a bank or a financial balance.
Here’s a concise outline of every one of the three NAGA platforms:
SwipeStox is portrayed as an informal community for brokers. The platform has prepared 2 million transactions within a year of its dispatch, and at present produces about $3 to $4 billion USD in trading volume every month. The platform has likewise involvement with minimum 100% development over the most recent a half year.
SwipeStox comprises of a leaderboard where you can screen the best brokers over a given period, at that point tap “auto duplicate” to naturally duplicate all exchanges made by those dealers.
However, SwipeStox doesn’t simply isolate specialists on one side and beginners on the other. SwipeStox likewise allows users to be the master for a specific market or circumstance. These users can create followers, at that point profit as they gather more followers.
SwipeStox likewise accentuates a gamified encounter that distinguishes itself from other business platforms. It is mobile and user encounter driven, and delivers to a greater degree a gaming knowledge than a conventional representative affair. NAGA has done this to open up resource trading to the overall market of gamers.
Switex furnishes brokers far and wide with a platform for straightforward blockchain-based thing trading. The Switex blockchain is the center piece of the ecosystem. That blockchain puts away signing up virtual merchandise and all transactions.
In general, Switex expects to be the main legitimate ecosystem for virtual merchandise trading among gamers. It will allow gamers, game designers, and distributors to benefit decently and take an interest in P2P trading.
The market is intended to be basic and simple to use. Gamers can without much of a stretch post offers, have full control over their things (including prices, points of confinement, and limitations), and earn cash through secure virtual thing sales.
NAGA will empower the depositing of tokens by means of the NAGA Wallet into SwipeStox and Switex, and also any future platforms that will be a piece of the NAGA ecosystem. The wallet will be associated with leading crypto resource exchanges. Users can change over fiat cash into digital currencies using the wallet.
NAGA Coin, or NGC, fills in as the base cash over the platform. All NGC holders will take part in each transaction initiated by means of NGC and executed on the NAGA platforms recorded previously. All transaction fees from the platform will be kept into a NAGA Coin Loyalty Fund.
Who’s Behind NAGA?
NAGA is being produced by the NAGA Group AG, a Hamburg-based fintech company established in October 2015. The company has financial licenses from BaFin and CySEC, and was recorded on the Frankfurt Stock Exchange on July 10, 2017.
Today, the company comprises of a team of 120+ individuals crosswise over Europe. The company’s objective, according to the NAGA whitepaper, is “to make financial transactions in stocks and virtual products more secure and available to everybody.”
The NAGA team includes Yasin Sebastian Qureshi (Founder and Executive Director), Christoph Bruck (Founder and Executive Director), Benjamin Bilski (Founder and Executive Director), and Igor Kulatov (Founder and Chief Technology Officer).
To comprehend Naga Coin you have to know more about Naga the partnership.
“The Naga Group AG conceptualizes, creates, and dispatches troublesome technology wanders in financial technology. The company systematizes and quickens the way toward identifying, building, and scaling FinTech organizations. It creates Swipestox, a mobile-first social trading app that allows users to exchange forex, indices, and CFDs by copying different exchanges. Switex platform for trading in virtual articles from the PC or online gaming segment. Project T, a mobile application that allows the exchange of different monetary standards by matching individuals; and Project P, a distributed platform for forex and CFD instruments trading. The company was established in 2015 and is headquartered in Hamburg, Germany.” Courtesy of Bloomberg (Click HERE for snapshot)
What I found is that NAGA is formally called NAGA Markets Ltd. (previous Hanseatic Brokerhouse Global Markets Ltd.) and is situated in Cyprus that spends significant time in Forex and CFD trading.
SwipeStox – The Social Network for Traders
CYBO – Robo-Advisory Service
Switex – The virtual products Exchange
NAGA wallet – The Multi-Asset Crypto Currency
NAGA Academy – Online Trading University
A few advantages to using the Naga token will include lower trading fees and opportunity for money back incentives when the token is used at SwipeStox. The focal technology to every one of the transactions and NGC token utilization is the Naga Wallet.
To the extent the minimum suitable item is concerned they do have a completely business platform, SwipeStox, for trading stocks, indices and Forex. The idea driving SwipeStox is to duplicate proficient Traders and advantage from their ability and whereby you share the benefits of your exchange. The main issue with SwipeStox when I researched the idea I found some dubious provide details regarding the business model. Some are saying that it is only an escape clause for accumulating riches for the company behind SwipeStox. Definite research on SwipeStox is genuinely prescribed.
Switex is required to dispatch in Alpha in December of this current year. They presently have an Invision demo (click HERE for link) of the Naga Wallet for a pragmatic view on by what method will work. CYBO was propelled as a feature of SwipeStox platform and you can just use it once you completely register.
They have a GitHub account but there’s just a single vault that has been refreshed 7 days back. Here’s the link below for more points of interest.
There is no specify at all in either the site or the white paper about intellectual property. My lone figure is that CYBO may have certain calculations that can be IP commendable, but I was not ready to attempt it. If they had intellectual property it is critical to make the potential investors mindful of it.
Presumably one of the longest white papers I at any point read with more than 90 pages. Over a third of it is data and information on important markets, measurements, controls and so on. It does however go into points of interest on how the Naga tokens will be distributed once sold and the way the ecosystem works with the tokens. They likewise go into points of interest on the innovations they are developing. Again, there’s very little detail on the teams and their experience.
Refresh: After some further research I found that there was a shorter adaptation of the whitepaper 10 pages long concealed in the resource area of the site.
The guide indicates that they were set up in 2015 And a €1 million seed investment mid 2016. In July 2017 Naga gather opens up to the world (IPO) on the German stock exchange. The sale of the tokens will begin on the twentieth of November closing on the fifteenth of December.
Idea dispatch timetables: SwipStox and CYBO propelled in September 2017, Naga Wallet dispatches April 2018, and the NGC integrations begin May 2018.
They appear to have a get Value suggestion spread out for the general business model.
To give real-time feed indicators to the merchants.
Spare merchants from con artists using cryptocurrency token exchanges.
Add up to straightforwardness to help exchange manages investment openings.
Approaching the business with an open-source philosophy (more clarification this point is required)
In the whitepaper they indicated that they are registered in Cyprus as Naga markets Ltd. If you don’t mind click HERE for the enlistment points of interest on the Cyprus company recorder. They are registered in Germany under the name Hanseatic Brokerhouse. Their German company register can be found HERE.
“NAGA Markets is an authorized and directed European agent. A managed Investment Services Firm approved in the lead of its exercises by the Cyprus Securities and Exchange Commission (CySEC) under the CIF License Number 204/13 and registered with FCA (FSA, UK), under reference no. 609499.”
The site is pleasantly planned and simple to move stacks up there well I’m getting could be an European data focus. It’s using a bootstrap framework which assists with the loading and money. They are facilitated on cloudflare.com, which has a notoriety for solid firewall against any DDoS assaults. It is a highly anchored with SSL certification from Comodo.
How To Buy NAGA?
Well, NAGA looks promising. If you are thinking about how to buy NAGA then you will need to read this section. This section will help you to know how to buy NAGA and where to buy it. You need to find the exchanges first and then choose what is suitable for you. At the moment, you can make use of HitBTC to buy this coin.
NAGA expects to be a smart cryptocurrency for stock trading and gaming. There are three center parts of the NAGA ecosystem, including a trading platform (for customary resources like stocks), a virtual things trading platform (for virtual merchandise in games), and a wallet (for exchanging digital forms of money and fiat monetary standards). More platforms are required to be added to the NAGA ecosystem later on. At this moment, the stock trading platform (SwipeStox) is now running and processing $4 billion USD worth of transactions every month.
To learn more about NAGA and the upcoming ICO, visit online today at NAGAICO.com.