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NAGAX Review 2022

NAGAXReview

Table of Contents

Introduction

NAGAX is a regulated EU-based digital asset exchange offering a one-stop shop for investors looking to buy and trade digital assets.

In addition to supporting the buying and trading of cryptos, NAGAX gives users access to NFTs and the option to earn through staking cryptos.

NAGAX supports more than 100 of the most popular cryptos, including AAVE (AAVE), Algorand (ALGO), ApeCoin (APE), Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), Near Protocol (NEAR), Polygon (MATIC), Ripple (XRP), Shiba Inu (SHIB), Solana (SOL), and Uniswap (UNI).

Launched in March 2022 and headquartered in Estonia, NAGAX is a licensed exchange supporting more than 150 countries, including Canada, France, Germany, Hong Kong, Italy, the Netherlands, New Zealand, Singapore, South Korea, the UAE, and the UK.

NAGAX Platform Attributes

Key attributes of the NAGAX platform include:

  • Licensed and offering digital asset services to investors worldwide.
  • Supports the buying, storing, and trading of more than 100 cryptos.
  • In addition to buying and trading cryptos, users can stake and earn to enhance earnings.
  • Looking to offer a full digital asset product suite, NAGAX gives users access to NFTs and provides a platform to create, market, and sell NFTs.
  • Allows users to purchase crypto with credit/debit card and fund NAGAX wallets with externally held cryptos.

The Pros and Cons

Pros

  • Diverse Crypto Offering: Users can buy and trade more than 100 of the most popular cryptos.
  • Customer Support: Users can contact customer support 24-7 via live chat, with response times of no more than a few minutes. Additionally, users can make contact by email.
  • Deposits & Withdrawals: Users may deposit and withdraw NAGAX-supported cryptos.
  • Multi-Product Platform: Supports the buying, trading, and staking of cryptos, as well as giving access to NFTs.
  • Regulated: NAGAX is an Estonian licensed exchange, license number FVT000428.
  • Security: 2FA is in place to provide an additional security layer.
  • Simple Registration: Easy registration process.
  • Staking Services: Currently supports the staking of more than 10 of the most popular cryptos, with staking times of as little as 24 hours.
  • Transparent Fees Structure. NAGAX has a dedicated page, providing users with a detailed fee breakdown.

Other positives include

  • Affiliate Program: Gives affiliate partners, influencers, media promoters, and traders the ability to earn through the NAGAX Affiliates Programme.

Cons

  • No demo account. An easy-to-navigate platform, an Academy section, and a responsive customer support team are enough to assist new users.
  • NAGAX does not support fiat currency deposits and withdrawals. Users may purchase crypto with credit/debit card, however.

Brokerage Services, Supported Cryptocurrencies & Payment Methods

NAGAX is an online crypto exchange supporting the buying and trading of more than 100 cryptos.

Licensed in Estonia, NAGAX enables users to deposit NAGAX-supported cryptos or purchase crypto with a credit/debit card.

In addition to traditional trading, users may earn interest by staking supported cryptos and accessing the NAGAX NFT platform.

Users holding NAGAX-supported cryptos can carry out wallet-to-wallet transfers to begin trading. NAGAX-supported cryptos for deposits include but are not limited to AAVE (AAVE), Algorand (ALGO), ApeCoin (APE), Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), Near Protocol (NEAR), Polygon (MATIC), Ripple (XRP), Shiba Inu (SHIB), Solana (SOL), and Uniswap (UNI).

Registration

To open an account, go to the NAGAX homepage and click the Sign Up icon as below.

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To complete the registration process:

  • Select your country, enter your phone number, and click continue.
  • Enter the verification code you receive on your mobile phone.
  • Complete your profile, including name, account username, email address, and password, and click Send.
  • You will then be directed to the NAGAX Crypto Wallet page to make a deposit.

You need to verify your account to enjoy the platform features.

To verify your account, click the upgrade icon at the top of your screen.

  • Enter your details.
  • Complete your investor profile.
  • Accept the account settings and terms and conditions.

Users have a 14-day grace period to complete the identity and residence verification procedures. At this point, users may either click Verify Account to upload the documents to verify ID and residence or click Skip to complete the process within the 14-day window.

Post Registration Deposit

After registering, you need to make a deposit to begin buying, trading, or staking crypto.

To make a deposit, users can:

  • Deposit already held NAGAX-supported cryptos.
  • Purchase crypto by credit/debit card.

To deposit externally held crypto, go to the Crypto Wallet page.

  • Select the crypto you wish to deposit by choosing the appropriate crypto wallet.
  • Click the Deposit icon on the right-hand side of the page and either scan the QR code or copy the wallet address to your external wallet.
  • Complete the wallet-to-wallet transfer.

Once you have funded your NAGAX wallet, you may begin buying, trading, or staking supported cryptos.

Supported Crypto Currencies

NAGAX gives users access to more than 100 of the most popular cryptos. These include but are not limited to AAVE (AAVE), Algorand (ALGO), ApeCoin (APE), Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), Near Protocol (NEAR), Polygon (MATIC), Ripple (XRP), Shiba Inu (SHIB), Solana (SOL), and Uniswap (UNI).

Users can buy and sell crypto via the Crypto Wallet page. Here you can carry out crypto-crypto buy and sell transactions.

Pairings vary dependent upon the target crypto.

For example, users can purchase Cardano (ADA) with bitcoin (BTC), Ethereum (ETH), or Tether (USDT).

By contrast, users can purchase bitcoin (BTC) with a range of supported cryptos, including Ripple (XRP), Solana (SOL), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA), among others.

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For more experienced traders, NAGA Exchange gives users access to a more traditional crypto trading platform.

Here, traders can buy and sell supported crypto pairings using limit, market, and stop trade settings.

Additionally, traders can perform technical analysis using charts powered by Trading View.

The Trade page also provides users with the order book and trades by selected crypto.

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The Details

NAGAX supports the buying, staking, and trading of cryptos. Additionally, users can access the NAGAX NFT marketplace to collect, trade, and create non-fungible tokens.

Via the Crypto Wallet page, users can purchase, and hold supported cryptos. More experienced traders can trade crypto pairings on the NAGAX exchange.

In addition to providing users with access to crypto trading, NAGAX also supports the staking of supported cryptos.

Staking Services

Users can get up to 20% interest for staking supported cryptos on the NAGAX platform. Key features include,

  • Flexible staking time, with a minimum of just 24 hours.
  • Low staking minimum.
  • Stake more than ten of the most popular crypto assets.
  • No fees, just rewards.
  • Tiered staking yields, dependent on the amount of NAGA Coin (NGC) held.

Supported coins for staking include NAGA Coin (NGC), ApeCoin (APE), Axie Infinity (AXS), Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Ethereum (ETH), Polkadot, Polygon (DOT), Tether (USDT), and USD Coin (USDC).

Please see the table below for the tiers and a snapshot of the offered yields.

Name

Base Yield

NGC Held

0 – 1,000

Bronze

NGC Held

1,001 – 1,999

Silver

NGC Held

2,000 – 3,999

Gold

NGC Held

4,000 – 7,499

Diamond

NGC Held

7,500 – 9,999

Crystal

NGC Held

10,000 +

NGC 0.5% 2% 3% 4% 5% 8%
APE 3.5% 3.75% 4% 4.25% 4.5% 4.75%
AXS 7% 7.5% 8% 8.5% 9% 9.5%
BTC 2% 2.25% 2.5% 2.75% 3% 3.25%
BCH 2% 2.25% 2.5% 2.75% 3% 3.25%
ADA 2% 2.25% 2.5% 2.75% 3% 3.25%
ETH 2% 2.25% 2.5% 2.75% 3% 3.25%
DOT 5% 5.25% 5.5% 5.75% 6% 6.25%
MATIC 6% 6.45% 6.9% 7.35% 7.8% 8.25%
USDT 4% 4.25% 4.5% 4.75% 5% 5.25%
USDC 4% 4.25% 4.5% 4.75% 5% 5.25%

Charts

NAGAX users have access to interactive charts powered by TradingView.

On the Trade page, traders can perform technical analysis using drawings and technical indicators.

TradingView provides users with an array of technical indicators. Users may also select from multiple time intervals.

Additionally, users may view charts with candles, hollow candles, Heikin Ashi, bars, line, area, and baseline.

To view the chart of your preferred crypto pairing, go to the Trade page and select the pairing from the dropdown menu at the top left-hand side of the Trade page.

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Balances and Trading History

NAGAX gives users a detailed overview of trade activity, individual wallet and total balances, and daily portfolio movements in percentage terms.

Trading History

On the Trade page, users may view Open Orders, Trade History, and a portfolio overview.

Open Orders: Trade Date, Pair, Trade Type, Side, Price, Stop Price, and Total.

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Trade History: Date, Pair, Side, Price, Size, Executed Value, and Fee.

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Portfolio: Currency, Balance, In Orders, and Total.

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Wallets

On the Crypto Wallet page, users may view the total balance, daily change in dollars and percentage terms, and individual wallet balances in crypto and dollar equivalent. Users may also view recent transactions, as shown below:

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Fees

NAGAX has a dedicated Fees page with a detailed breakdown of maker/taker, deposit, and withdrawal fees for the respective NAGAX tiers.

Maker and Taker Fees

Level NGC Balance Maker* Taker**
Base 0 – 1,000 0.4% 0.4%
Bronze 1,001 – 1,999 0.35% 0.35%
Silver 2,000 – 3,999 0.3% 0.3%
Gold 4,000 – 7,499 0.25% 0.25%
Diamond 7,500 – 9,999 0.15% 0.15%
Crystal 10,000 + 0.05% 0.05%

*Maker is an order that trades at a limited price.

**Taker is an order that trades at a market piece.

Crypto Deposit and Withdrawal Fees

NAGAX does not charge fees for crypto deposits. However, there are withdrawal fees that vary by crypto.

Withdrawal fees for the largest cryptos by market cap are as follows,

Asset Deposit Fee Withdrawal Fee
Cardano Free 1.44 ADA
Binance (ERC20) Free 0.012 BNB
Bitcoin Free 0.00012 BTC
Dogecoin Free 8.4 DOGE
Ethereum Free 0.006 ETH
NAGA Coin Free 25 NGC
Solana Free 0.018 SOL
USD Coin Free 12 USDC
Tether Free 12 USDT

Trading Fees

The maker and taker fees for all NAGAX-supported crypto pairings are 0.4%.

NAGAX Crypto Wallet

Users may locate their crypto wallets via the NAGAX Dashboard.

On the Crypto Wallet page, users can buy/sell, deposit, and withdraw cryptos. Additionally, users may view:

  • Individual wallet balances in asset value and dollar equivalent.
  • See recent transactions.
  • And view the total portfolio balance in dollars and the daily change, in percentage terms and actual.

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Users may also view wallet transactions by selecting individual crypto wallets and choosing the transactions section. Here, users can filter transactions over the last 7-days, 30-days, or a customized date range.

Deposit & Withdrawal Options

NAGAX supports the deposit and withdrawal of crypto. Currently, NAGAX does not support the deposit and withdrawal of fiat currencies. However, NAGAX does allow users to purchase crypto with a credit/debit card.

Crypto Deposits

To make a crypto deposit,

  • Go to the Crypto Wallet page
  • Click the Deposit icon.
  • Select the crypto you wish to deposit from the dropdown menu.
  • Copy the address to your external wallet or scan the QR code to complete the deposit.

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Crypto Withdrawals

To make a crypto wallet to wallet transfer to an external wallet,

  • Go to the Crypto Wallet page and locate the crypto you wish to withdraw.
  • For demonstrative purposes, we have chosen ApeCoin.
  • Click the dropdown menu to the right of the ApeCoin wallet.
  • Select withdraw APE to an address.
  • Enter your external wallet address and then click Withdraw Ape.

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Credit/Debit Card Purchases

To purchase crypto by credit/debit card, go to the NAGAX homepage, locate the buy crypto with credit card option, and click continue.

  • Select the crypto you wish to purchase from the crypto listing.
  • Enter the amount you wish to spend, choose your preferred currency from the dropdown menu, then click continue.

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  • Ensure your email address is correct and click continue.
  • Enter the verification code sent to your email address, agree to the ts and cs, and click continue.
  • Complete the information prompted and click continue.
  • Enter your billing address.
  • Choose your payment card and then press the buy now button. (The KYC questions are only required the first time you make a credit card purchase).

Trading Platform

NAGAX supports the trading of crypto-crypto pairs on NAGAX Exchange. Additionally, users can buy and sell crypto via the Crypto Wallet page.

Crypto Wallet Crypto Trading

Catering to novice investors, users can buy and sell crypto via the Crypto Wallet page.

To purchase crypto, go to the NAGAX Crypto Wallet page,

  • Click the Buy/Sell icon.
  • Select the crypto you wish to purchase from the dropdown menu and enter the amount you wish to purchase.
  • Select your crypto source of funds from the dropdown menu.
  • For demonstrative purposes, we chose to buy BTC with USDT.
  • Then click the Buy BTC with USDT icon to complete the transaction. (Users can also purchase the crypto with a credit card).

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To sell BTC for USDT, click the buying arrow to change the transaction to a selling transaction and follow the same procedures as outlined above.

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NAGAX Exchange

NAGAX Exchange caters to more experienced traders. To take a crypto-USDT, crypto-BTC, or crypto-ETH position, go to NAGAX Exchange.

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  • Select the trade pairing from the dropdown menu at the top left-hand side of the Trade page.
  • From the top right-hand side, select your trade type: Limit, Market, or Stop.
  • Click Buy or Sell.
  • Enter the amount you wish to buy/sell.
  • Select Good till Cancelled, Immediate or Cancel, Fill or Kill, or Day only from the dropdown menu and then click the Buy/Sell icon.
  • The trade details will appear under Open Orders, located at the bottom of the trade page.

Key features of the NAGAX platform

Trading Features

Buy Crypto: For more novice investors or HODLERS, users can purchase crypto with crypto or credit/debit card on the Crypto Wallet page.

NAGAX Exchange: For seasoned traders, the Trade page supports the trading of crypto-USDT, crypto-BTC, and crypto-ETH pairings.

Limit/Market/Stop Trading: Via NAGAX Exchange, users can place limit, market, or stop trades to cater to all risk profiles.

Charts: Via NAGAX Exchange, traders can access Trading View-powered charts and perform technical analysis to identify entry and exit points and manage risk.

Tracking Options

Trade Activity: Via the NAGAX Exchange, users may view open orders, trade histories, and portfolio details.

Wallet Balances: Users may view individual wallet balances on the NAGAX Crypto Wallet page. In addition to individual wallet balances, NAGAX provides a total balance in dollars and daily change in portfolio value in percentage terms and dollars.

Wallet Activity: Users may also view wallet transactions by selecting individual crypto wallets and choosing the transactions section. Here users can filter transactions over the last 7-days, 30-days, or a customized date range.

Earning Options

Affiliate Program: Provides affiliate partners, influencers, media promoters, and traders a platform to enhance earnings.

Staking Services: NAGAX supports the staking of NAGA Coin and more than 10 of the most popular cryptos, with staking times of as little as 24 hours.

Communication

SUPPORT: Users may contact customer support via chat.

Chat support is available Monday to Friday, between 08:00 and 18:00 GMT+3.

Additionally, users may contact customer support by email at support@NAGAX.com.

The NAGAX customer support team will respond to email queries within 48 hours.

Social Network Platforms: NAGAX has a presence on YouTube, Twitter, Telegram, Instagram, and Facebook. In addition, users can also join discussions on Discord.

Others

NFT Marketplace: NAGAX NFT provides users a platform to discover, collect, and trade NFTs. In addition, digital assets enthusiasts can create their own NFTs to showcase and sell on NAGAX NFT.

New Product Launches: NAGAX is also adding to its current product suite, with plans to launch Derivatives and Launchpad.

Privacy and Security

NAGAX has appropriate security and privacy measures in place.

Privacy and security features include,

2FA: Ensures account security. Users may enable 2FA by going to the account name dropdown menu, selecting settings, and then password & security.

Wallet Security: To protect user assets, NAGAX offers user security by protecting NAGAX wallets with multi-layer technology, which combines the latest breakthroughs in MPC cryptography with hardware isolation. Additionally, private keys are encrypted, ensuring that there is no single point of compromise from external hackers or insiders.

Customer Support

NAGAX provides support via live chat and by email. There is also an academy and FAQ where users can view articles, videos, webinars, and a comprehensive FAQ section.

Social Media: NAGAX also has a social media presence.

Facebook: https://www.facebook.com/NAGAX.Official

Twitter: https://twitter.com/NAGAX_Official

Instagram: https://www.instagram.com/nagax_official/

Telegram: https://t.me/NagaAnnouncements and https://t.me/NAGAXChat

YouTube: https://www.youtube.com/channel/UCtBhIjMZP3uXQ_zxdteqXiA

Discord: https://discord.gg/d96bwdzPF4

Additional Information

FAQ

Some of the more frequently asked questions available on NAGAX include:

What is the difference between NAGAX Wallet and NAGAX Exchange?

The NAGAX Crypto Wallet is a complete secure currency wallet that ensures the safety of storing cryptocurrency in a user-friendly way. By signing up for NAGAX, traders automatically get access to their own NAGAX Crypto Wallet. The NAGAX Wallet enables holders to send, store, and receive crypto assets instantly.

The NAGAX Exchange is a premier trading platform that enables users to buy, sell and trade hundreds of cryptocurrencies easily on a lightning-fast engine. The Exchange is your portal to a world of digital trading in cryptocurrencies. Users can enter the Exchange and view assets in a minute, hourly, daily, and weekly chart. This feature also enables investors to carry out transactions and get in on the action of trading through buying and selling top crypto coins and tokens.

What is Social Trading?

Social trading is a form of investing that allows investors to gain the knowledge and trading behavior of other more experienced traders and to follow their investment strategies.

NAGAX Allows you to follow other traders and get their trading signals or insights through the content that they publish on NAGAX Feed.

How to contact other users?

NAGAX is shaking up the way users communicate! Thanks to the Feed, communication has never been easier and more effective. Users can interact with members of the community, open discussions, express opinions on financial markets, or learn new things.

If you would like to contact a user or just get someone’s attention in a post/comment, you can do that using the tagging feature.

Conclusion

NAGAX is a simple-to-use digital asset exchange giving traders and digital asset enthusiasts access to a wide selection of cryptos.

The platform caters to novice and experienced traders, with users able to buy and hold or trade crypto-crypto pairings.

Additional features, including NAGAX NFT and NAGAX Staking, make NAGAX a go-to platform for those looking to access the entire digital asset range of cryptos and NFTs.

A high emphasis on security and a responsive customer support team, a comprehensive academy, and a detailed FAQ section put NAGAX high on the list for those looking to enter the space or explore new platforms.

NAGAXUser Reviews

Rate this exchange

NAGAXFeatures

Coins Available
  • Aave
  • Algorand
  • Avalanche
  • Bitcoin
  • Bitcoin Cash
  • Basic Attention Token
  • BUSD
  • Binance Coin
  • Cardano
  • Chainlink
  • Compound Governance Token
  • Chiliz
  • Cosmos
  • Dogecoin
  • Dash
  • Multi Collateral Dai
  • Decentraland
  • Ethereum
  • Ethereum Classic
  • EOS
  • enjincoin
  • Fantom
  • Hedera Hashgraph
  • IOTA
  • Kava
  • Kusama
  • Litecoin
  • Maker
  • Near
  • NEM
  • Ontology
  • 0x
  • Polygon
  • Polkadot
  • Ripple
  • Shiba Inu
  • Stellar
  • storm
  • Solana
  • Tether
  • Tezos
  • The Sandbox
  • Thorchain
  • TRON
  • True USD
  • Uniswap Protocol Token
  • USD Coin
  • Wrapped Bitcoin
  • Zcash
  • Zilliqa
Accepted Countries
  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain

Payment Method

Deposit Options
Credit Card, Cryptocurrency
Withdrawal Options
Credit Card, Cryptocurrency
Company Information
Exchange DetailsInfo
Headquarters Country
Foundation Year2021
Typeexchange
Trading AllowedNo
Contact Information

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