Even though it was founded in 2022, this exchange has quickly become a go-to place for crypto enthusiasts around the world, offering access to over 100 cryptocurrencies, a social trading feature, a crypto wallet, staking options, and an NFT marketplace.
There are also additional benefits to explore thanks to a VIP Levels system that rewards owners of NAGA Coin, the company’s native cryptocurrency. Learn more about this social trading platform and why it’s the all-in-one crypto solution you’ve been looking for by reading the rest of our NAGAX review.
Features that stand out:
- Over 100 cryptocurrencies
- Social trading feature for expert insights and strategies
- Secure and seamless crypto wallet integration
- Staking platform with up to 20% interest on supported cryptos
- NFT marketplace for buying, selling, and creating unique digital art
- NGC token for claiming trading discounts and other bonuses
What Is NAGAX?
Despite being one of the newer crypto exchanges, NAGAX is a social investing crypto trading platform that is available in over 150 countries and has over a million users. NAGAX is bringing the German fintech firm NAGA Group AG’s success in traditional finance to the blockchain industry.
With access to over 100 cryptocurrencies, including well-known ones like BTC, USDT, ADA, SOL, ETH, and XRP, NAGAX is a true all-in-one cryptocurrency solution. Also, you can maintain the security of your tokens and coins while making use of numerous payment options thanks to its exclusive community airdrops and your personal NAGAX wallet.
But that’s not all; NAGAX also offers a premium security feature that safeguards your cryptocurrency holdings, a news and hot topics feed, and even a learning center to help you become more knowledgeable about the cryptocurrency world.
And that’s not all—NAGAX also has its cryptocurrency, known as NAGA Coin (NGC). Thanks to the VIP Levels system, NGC holders can have early access to new drops and other bonuses.
It’s true that NAGAX is more than just a standard cryptocurrency exchange. Because of its innovative social trading function, even novice traders can network with experts and exchange trading tips through a news feed board.
How to Open a NAGAX Account
The good news is that establishing an account at NAGAX couldn’t be simpler. Specifically, here’s what you should do:
If you already have a NAGA account, all you have to do is log in to NAGAX with those credentials. When you initially log in, a NAGAX account will be created for you automatically. Just make sure to read and agree to the NAGAX Terms & Conditions.
Go to nagax.com and choose the “Sign up” option if you’re completely new to NAGAX. Then follow these few steps:
- Step 1: Enter your phone number and country. Press “Continue” to go to the following step after selecting a country code;
- Step 2: To verify your phone number, enter the OTP code that was delivered to your phone through SMS. To go to the following stage, click “Continue;”
- Step 3: You must enter your first and last names, a unique username that will appear on the platform and in the social news feed, and your real email address;
- Step 4: Finally, create your NAGAX password (make sure it has at least 8 characters, one upper character, and one number).
You must verify your investor account to use all of NAGAX’s services. That completes the process; now that your account is active, you are free to deposit and explore all the fun things that NAGAX has to offer.
NAGAX Fees and Pricing
Although paying fees can be a hassle, NAGAX makes it simple by providing you with clear information. Aside from network fees, trading, deposit, and withdrawal fees, there are three main types of fees that cryptocurrency exchanges typically impose, and we’ll go over these now.
The maker/taker fee at NAGAX is 0.4% when you first start trading (which isn’t too high, but it’s not the most competitive fee). As you can see in the table below, it decreases as you pay more using NGC because you’ll level up, which will result in lower maker/taker fees.
|Level||NGC Balance||Maker/Taker Fees|
To avoid NAGAX’s transaction costs, the best option for deposits is cryptocurrency. For the purpose of this NAGAX exchange review, we found that the minimum charge for bank transfers is 1%, while the fee for using a credit or debit card is 4.5%, although cards can be convenient.
Don’t worry, NAGAX’s withdrawal costs are competitive and transparent despite the fact that they vary based on the asset you’re withdrawing. For particular fees, refer to the deposit/withdrawal fee schedule page or the table below, where we’ve chosen the deposit and withdrawal costs for some of the most widely used currencies.
|Token/Coin||Deposit Fee||Withdrawal Fee|
|Bitcoin (BTC)||Free||0.00012 BTC|
|Ethereum (ETC)||Free||0.006 ETH|
|Litecoin (LTC)||Free||0.012 LTC|
|Tether (USDT)||Free||12 USDT|
|USD Coin (USDC)||Free||12 USDC|
|Dogecoin (DOGE)||Free||8.4 DOGE|
|NAGA Coin||Free||25 NGC|
|Solana (SOL)||Free||0.018 SOL|
|Ripple (XRP)||Free||1.8 XRP|
|Binance ERC20 (BNB)||Free||0.012 BNB|
|Cardano (ADA)||Free||1.44 ADA|
|Euro (EUR)||Free||0 EUR|
What Are NAGAX Features?
This platform provides all the features a crypto lover could ask for and more, including spot and social trading, a flexible crypto wallet, staking options, an NFT marketplace, and the use of NAGA Coin. Continue reading to learn more about these unique features.
The bread and butter of NAGAX is cryptocurrency spot trading. This implies that you can trade, buy, and sell more than 50 major cryptocurrency pairs like an expert.
Now, traders of all skill levels may develop a strategy according to their needs and objectives. Also, you’ll have the ability to make well-informed decisions at every stage, thanks to real-time market data and the order book.
NAGAX took inspiration from its older sibling, NAGA, and launched the Social Trading feature to enable users to exchange information, ideas, and strategies.
While doing research for this Nagax.com review, we discovered that experts can monetize their feeds by charging for access before sharing their success secrets. It works similarly to buying a book, except that you get to watch an expert trade in real time.
By following their favorite traders through the Feed function, users can keep up with them and respond to postings, comments, and queries. Similar to social media, but with more money to be made and fewer cat videos.
User posts and crypto news posts make up the two sections of the Feed. Members of the NAGAX community add user content, and the other platform also pulls news about cryptocurrencies from well-known media outlets.
About 1,000 digital assets and 20 different blockchains are supported by NAGAX’s crypto wallet, which is rather remarkable. You can still deposit, store, and withdraw your digital assets with ease, but keep in mind that not all stored assets are transferable on the site.
The wallet’s private keys are shielded from prying eyes using multi-party computation, encryption, and offline storage. A two-factor authentication mechanism has also been implemented to give you even more security.
You can simply access your trading funds directly from the wallet thanks to the NAGAX crypto wallet’s seamless integration with trading and brokerage services. Also, any digital assets that you buy through the broker are automatically saved in the wallet.
Stake & Earn
With NAGAX’s staking platform, you can get up to 20% interest on supported crypto coins with a flexible minimum staking time of just 24 hours. It’s a win-win situation for everyone as there are no fees involved.
But the advantages go further than that. The more NAGA Coin (NGC) you hold, the bigger your rewards will be thanks to NAGAX’s tiered staking yields. Moreover, staking is accessible for more than 10 of the most popular cryptocurrency assets, including Tether, Cardano, Ethereum, and Bitcoin.
NAGAX NFT Marketplace
With the recent debut of NAGAX’s NFT marketplace, makers and collectors may now purchase, sell, and produce one-of-a-kind NFTs without switching between different platforms.
Because this market is built on key blockchains such as the Ethereum blockchain, users can easily share, withdraw, trade, and even mint NFTs on this blockchain. Artists can use NAGAX NFT to display their works of art and collections online, and collectors can quickly browse and find unique pieces that suit their specific tastes.
Next in our NAGAX app review is the NAGA Coin, also known as NGC. It’s the ERC-20 utility token on the Ethereum blockchain that was originally created for the NAGA ICO in 2017. However, it has since become an essential component of the NAGAX exchange and the larger NAGA ecosystem.
NGC holders can utilize it for a variety of things, such as holding it for the long term for speculative reasons or claiming trade discounts. By purchasing, selling, or trading it on the site, active traders can also use it for speculation and profit.
Moreover, users can use NGC to pay trading fees on NAGAX and qualify for discounts according to the number of tokens they currently hold in their wallets. In order to keep NGC a valuable resource for its customers, NAGAX is constantly expanding its utility.
It’s also important to note that NAGAX has a dedicated mobile app that is accessible to Android and iOS users.
Is NAGAX Legit?
Yes, NAGAX is serious about security when it comes to protecting your cryptocurrency investments. The platform uses multiple layers of MPC technology to protect cold wallet keys, and its hosted wallet makes sure that private keys are stored in encrypted formats to lower the risk of compromise.
In order to increase the security of their platform, NAGAX additionally collects KYC and AML information in accordance with relevant local legislation as well as international financial rules. Additionally, users can contribute by enabling 2FA and creating secure passwords; it’s like putting a lock on your front door to keep the bad guys out.
Say goodbye to those sleepless nights spent fretting over hackers and welcome the future of safe and secure crypto trading with NAGAX, which employs state-of-the-art technology and hardware isolation to safeguard wallets and protect your cryptocurrency.
NAGAX’s customer support staff is here to assist you at all times. Nevertheless, because of its innovative social trading function, you may not even need to get in touch with the team—you can just ask the savvy traders in the community chat box for guidance.
Also, NAGAX’s Academy section is like having your very own private crypto teacher (if you want to learn more about cryptocurrency trading on your own). It covers everything, from basic advice to more sophisticated techniques.
Also, the Help Center serves as a one-stop shop for all of your inquiries regarding market valuation, deposit and withdrawal procedures, and other relevant matters.
In case you do need to get in touch with someone, though, you can do so using any of the following methods provided by the NAGAX team—24/7 live chat support, email, and the following social media platforms:
Whether you’re completely new to the crypto world or a seasoned trader, NAGAX is here to help. You can trade with confidence and ease knowing that there is a helpful community you can follow, learning materials, and a helpful support staff only a message away.
There aren’t many user NAGAX reviews since NAGAX is a relatively new platform, but we can see that it has a 4.1 rating on Trustpilot, with mostly positive impressions. It’s nice to see that the NAGAX team is very responsive to its users’ needs and inquiries because it responded to every review, positive and negative, and tried to assist its users even further.
NAGAX Exchange Review: Final Words
As a social trading platform, NAGAX gives users access to over 100 cryptocurrencies, a social trading feature, a crypto wallet, staking options, and an NFT marketplace. The platform is safe, has reasonable prices, and offers great customer support, all of which are important features of top crypto exchanges.
Even inexperienced traders can benefit from the experience of more seasoned traders thanks to the social trading feature’s ability to connect with professionals and exchange trading advice. If you’re seeking an all-in-one crypto solution, NAGAX is worth considering.
Is NAGAX safe?
NAGAX is safe, yes. The platform uses various levels of MPC technology and hardware isolation to protect wallets and private keys. They also gather KYC and AML information to meet national and international financial regulations. Users can also enable 2FA and generate strong passwords to increase security.
What’s the difference between NAGA and NAGAX?
NAGA is a brokerage company, while NAGAX is a crypto exchange. You can invest in 1,000 markets, trade cryptocurrencies, and use payment apps through NAGA Group AG, a multi-asset neo-broker with a social network. The most recent addition to NAGA, NAGAX, is a safe social trading platform for trading and purchasing crypto.
Do I need KYC on the NAGAX platform?
Indeed, as our NAGAX review found, NAGAX requires all users to complete the Know Your Customer (KYC) verification process to access its services.