If you’re a beginner investor, getting started and taking the plunge to make that first trade can be rough – especially if you’ve never signed up to an investing platform before, and you’re used to keeping all of your money stored away in the bank.
Forget trying to figure out which stocks to invest in – even the process of trying to figure out which platform to sign up to can feel overwhelming when you’re brand new to trading.
One of the reasons that this is so difficult is because new investors often try to do everything themselves. While trading has often been thought of as a solitary activity, the reality is that it is anything but.
Today, even seasoned investors often turn to large community platforms like Twitter and Reddit for investing advice. Before then, they would turn to Yahoo Finance. And even before then, they would consult newspapers and subscribe to newsletters to help them figure out where to put their money.
Over the past few years, an increasing number of subgroups and communities of enthusiastic investors have been popping up online. These communities are filled with traders – both beginners and experts – who are seeking out advice and looking to connect with one another to swap trading strategies.
Over the past few years, we’ve witnessed the rise of social trading apps like eToro, Robinhood, and most recently, we’ve seen the rise of NAGA.
The online trading industry is growing rapidly
Last year, the global online trading market was valued at approximately $8.7 billion U.S. By 2028, it is predicted to skyrocket to over $12.16 billion U.S. As the popularity of online training continues to rise, the number of users searching for social trading apps has unsurprisingly been on the increase too.
Social trading apps are designed to encourage users to connect with each other and discuss potential investment opportunities. They work quite similarly to Facebook – except they are designed exclusively for investors.
There are many benefits to social trading apps – they provide a community for investors who are struggling to connect with like-minded people nearby, and they provide a very valuable learning experience for newbie traders who are looking to learn from experts.
NAGA is a social trading platform specifically designed for helping newbies to learn more about trading and increase their profits by mirroring trades from expert traders.
How does NAGA work?
NAGA covers over 750 assets, from stocks to forex, to cryptocurrencies. It’s similar to eToro – but with a few key differences that make it much more suitable for newbies. In addition, NAGA is the only app that combines a multi-asset trading platform, a native cryptocurrency wallet, an exchange, and a mobile banking platform under a single KYC and account.
As you might already have guessed, NAGA’s key feature is that it features its own copy tool, known as ‘Autocopy’. This feature essentially lets new traders mirror the actions of the best traders, and reap the benefits.
The Autocopy tool is designed to be extremely easy to use, and it enables transactions to be copied in real time with a price execution guarantee. In exchange for using the Autocopy tool, traders will pay a total of €1 for each copied trade. Approximately 35% of this fee will be shared with content creators, who would traditionally use platforms such as YouTube and Facebook to monetize their audience.
So far, NAGA’s most successful copier has earned a profit of over $201,061.30 by copying over 3827 trades. Meanwhile, the platform’s top trader who has earned the most money for their copiers in January 2022 has 959 Autocopiers, and has generated $204,533.26 profit for those copying their trades.
What are the other benefits of joining a social trading app like NAGA?
While NAGA’s Autocopy feature is definitely one of the app’s most exciting benefits, it is not the only one. Alongside Autocopy, NAGA has a number of other exciting features, including:
- NAGA Trader is the app itself, which hosts the rest of the NAGA features.
- NAGA Coin (NGC), a cryptocurrency that fuels the rest of the app. Users can leverage the coin to monetize their trading strategies, and have it paid directly into their wallets.
- NAGA Popular Investor allows traders to share their trading strategies with a global network. In exchange, they can get paid up to $100,000 per month for being copied by other traders.
- NAGA Pay enables users to manage their money, spend money, save money, and invest in stocks, exchange traded funds (ETFs), and crypto all in one place.
NAGA also has a number of ongoing promotions and sponsorships that it runs to benefit its community. For instance, over Christmas, it ran a special promotion where it gave users the chance to win an iPhone and various other luxury gifts just by depositing funds into the NAGA platform and trading.
What does the future of NAGA look like?
Since NAGA’s roots were first set back in November 2014 when founder Ben Bilski created the first concept paper, and it went public on the German Stock Exchange in July 2017, the app has grown rapidly.
In 2021, the app surpassed one million users, and cemented itself as one of the fastest growing FinTechs in Europe.
Ultimately, NAGA has its sights set on becoming the go-to super app for investing, crypto, and payments. In 2022, NAGA has plans to release its own Non-Fungible Token (NFT) platform, which will provide users with the ability to create and trade their own artwork, music, and digital content. The trading volume of NFTs skyrocketed in 2021, and the market value surpassed an estimated $40 billion throughout the year. Users will be able to pay for and store these NFTs on the Ethereum blockchain using the NAGA wallet.
As the popularity of investing and social trading continues to rise throughout 2022, there is no doubt that we will see more people joining platforms like NAGA.