Naga Releases Nagax Crypto Exchange To Integrate With Naga Trader Social Investing Network
Naga Introduces The Nagax Platform Built On The Naga Trader Platform.
Nagax set to offer traders wide variety of cryptocurrency trades including BTC, LTC, ETH, DASH and all ERC 20 tokens.
Naga announced the launch of the Nagax platform, a blockchain based cryptocurrency exchange that offers a user-friendly experience and fast platform to trade a number of cryptocurrencies. The announcement further confirmed the new platform will be integrated to the Naga blockchain through the native cryptocurrency, Naga Coin (NGC) and its wallet.
After a successful BET testing period since Q4 2018, the company is releasing the full version of the exchange to the public. The Nagax platform can be accessed through the virtual trading platform, Naga Trader, a platform with over half a million customers and social network users.
The Nagax Cryptocurrency Exchange
The development team at Naga released a report on the qualities of the Nagax platform claiming the exchange can complete 10 million transactions per second and offer extremely low transaction fees. Furthermore, the exchange will offer early adopters free trading services for the first ninety days of operation. The exchange will thereafter charge a 0.15% marker’s fee and 0.25% taker’s fee as transaction fees. To understand the Nagax fee structure better follow this link.
The Naga Foundation started off as a traditional finance company that has transformed into a fintech company rapt on cryptocurrencies. Having reached a market capitalization of over $330 million USD, after listing on the Frankfurt Stock Exchange in mid-2017, SwipeStox, now Naga, went on to switch its goals to fintech and cryptocurrencies in particular.
First, the company released the Naga Coin (NGC) in early 2018 raising $50 million USD during the pre-sale. The coin’s market capitalization quickly grew above the $130 million mark raising optimism and hope for the virtual trading platform. However, the brutal bear run during the year saw the price of the coin collapse but since the recent bull run, NGC value is recovering.
The company released its wallet, trading and investing platform, virtual goods marketplace and financial education academy some few months into the turmoil times and the Naga Trader, a social trading platform.
The Naga Trader Platform
While most of the traditional trading focuses on the individual qualities of the trader, the Naga Traer platform brings to life social trading to the industry. According to the official Naga website, social trading offers a copy trading strategy as well as a platform for traders to interact with like-minded peers, discuss current market conditions, talk about results, and more, all in real-time.
The platform offers an extensive option of trading asset markets with over 800 markets on the platform including cryptocurrencies, ETFs, forex, commodities. The platform further ranks the traders according to their portfolio performance which allows traders to select their preferred choice of trading strategies.
Notwithstanding the platform offers a news feed, a blog for internal stories, user profile pages to interact with other traders and an auto-copying feature that allows you to replicate the activities of experienced traders and receive their knowledge of trading.