🚀🚀🚀Should you invest in Naga Coin ICO? Is it a scam? Or will it return 1000%?🚀🚀🚀

What is Naga Coin?

Naga Coin (NGC) will be a utility token used for the social trading applications - a tinder of crypto trading per se - and virtual good exchanges built by German FinTech company, NAGA Group AG. NAGA Group AG.   The ICO aims to raise US $220M with the objective of blending the financial, crypto and gaming markets.

The token is also said to come with the NAGA WALLET, which serves as a medium for users to hold cryptocurrencies and deposit them in their trading and gaming accounts. The proceeds of the ICO will go towards marketing to increase the growth rate of the business and the token.What stands out about this token sale is that Naga Coin is one of the world’s first crowdraises by a fully regulated, public, and listed company, which has returned in excess of 400% to date following it's original IPO back in 2015.

NAGA Group AG built out SwipeStox (utilized by over 100,000 users with transactions of over $4 billion USD), a social network like Facebook for stock trading, and Switex, a virtual-good exchange, which was a joint venture with the German Stock Exchange. The NAGA Wallet will help users deposit tokens into SwipeStox, Switex, and any further NAGA projects within the NAGA ecosystem. 

On the other end, the wallet will be connected to leading crypto exchanges and will help users trade and convert fiat and other tokens into NGC.Being blockchain-based, NGC helps ensure full transparency and accessibility for people who want to participate in financial trading/investing, in-game item trading, and crypto-investing.

To further bolster their proposition, NAGA has employed the services of Roger Ver (Founder & CEO of Bitcoin.com & long time crypto investor), Mate Tokay (COO of Bitcoin.com) and Miko Matsumura (Limited partner Pantera Capital) all major proponents of Bitcoin's blockchain technology and offering a wealth of experience in the space.

Tokens and Distribution

The token sale starts on December 1st and will end on December 15th. There are 220,000,000 NGC tokens available. 

• Available tokens: 220,000,000 NGC
• Total tokens created (Hard Cap): 400,000,000 NGC
• Minimum Cap: 1,000,000 NGC
• 1 NGC = $1.00
• “Recommended Minimum Purchase per Person $15 (=15 NGC)”*
• Recommended Maximum Purchase per Person $10,000,000 (10,000,000 NGC)*

*Recommended purchase amounts are from the NAGA information. There are currently eight payment methods to purchase NGC: Ethereum, Bitcoin, Litecoin, Dash, or in fiat via a bank transfer (SEPA/SWIFT) or via credit card.

Potential ROI & verdict

What really aroused my curiosity about this token sale is that it’s for a publicly traded company. Being a publicly traded company comes with a slew of stringent regulations this in turn provides a greater degree of protection for token holders. This is something that the Wild Wild West world of ICOs is lacking. Use-case aside, what I like about the project is that the proceeds of the coin are aimed towards marketing and growth.  This is a functioning business that is looking to raise capital to further its business goals, and utilize a token to provide higher value for the already functioning applications it owns.  Given the immense growth seen in the Crypto space, there is an increase in demand for innovation to accommodate the growing number of people clamouring to get involved.  

There is also an added incentive for those who can integrate and engage a number of large niche communities by catering to specific interests.  Naga aims to consolidate several niche communities by building a familiar, easy to use interface through the use of their wallet, allowing users to trade stocks, crypto or virtual goods from their favourite game, instantly. The limited number of tokens issued will further bolster value as demand grows from users joining the network.  

Users will also be able to deploy a robo trader or create and execute their own trades on the platform.  Subsequently, once a user has built a solid trading history, others will be able to copy their trades, and in turn be remunerated for it, creating a long term and sustainable passive income stream in the process.

Given the popularity of cryptocurrencies and the exponential growth of the market, this token could be a huge benefactor from the recent explosion in the space.  The ICO is open from the 1st of December until the 15th of December 2017 and users can earn up to 5% in referrals throughout this period.  

ICO Information:

For more information, visit the token sale page and take a look at the whitepaper.