What Is NAGA Coin?
NAGA Coin is an Ethereum-based utility token on an eponymous platform designed to simplify the processes concerning personal finance and investing. This decentralized cryptocurrency came into existence in 2017 and the German fintech business behind it, NAGA GROUP AG, has led one of the largest token sales.
The main purpose of this coin is to bring closer the worlds of financial markets and cryptocurrencies. The company strives to create a unified trading platform that will act as a common entry point to secure digital asset management, powered by NAGA Coin. It tends to solve the problems associated with high fees and payment for transactions caused by unnecessary intermediaries in the classic scheme of working with crypto assets. This digital currency serves the essential function of internal fees and guarantees to fill in as the primary base currency for any transactions, such as investing in financial markets and trading cryptocurrencies.
Pros and Cons of NAGA Coin
Advantages of NAGA Coin
NAGA Coin has occupied a favorable position in its niche of social trading and has received positive feedback. It has accumulated a community of more than 600 000 people with billions of traded volume in over 800 financial assets. Some big figures supporting the coin are Roger Ver, Miko Matsumura, and Guy Ben-Artzi, as well as a team of more than 120 people. The company behind the NAGA Coin is built on a top legal setup and has various EU-financial licenses, including an asset management license.
Disadvantages of NAGA Coin
Since NAGA Coin is the contributing factor to the company’s sustainable economy, the success of the platform may depend on the public demand of the coin and people’s motivation to use it. Occupying a position towards the end of the list of top-1000 cryptocurrencies out there, what the coin lacks is proper publicity and recognition. Unless the developers consider building a reputation in the public’s eye, some people may stick to the obvious leaders on the market.