Any financial advice you can get online should be taken with caution

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Ishan pandey

Crypto veteran. Tokenization, DeFi and Security Tokens – Blockchain.

Ishan Pandey: Hi Benjamin, welcome to our “Behind the Startup” series. Tell us about yourself and the story behind Naga?

Benjamin Bilski: Hello, I am a former German professional swimmer and the CEO of NAGA. In 2015, I co-founded The Naga Group AG with the aim of making the investment process more beginner-friendly than it was on most trading platforms at the time. Since then we have grown strongly, both in terms of team size, but above all in terms of products and experiences, NAGA offers, for example, automated social trading, a debit card linked to a bank account. trading, true crypto holding, and CFD trading, the highest quality trading education – all in one place. We are also investing heavily in various sponsorships.

Ishan Pandey: Can you please share some tips for crypto trading newbies. Also, what are some of the risks of participating in this activity, especially for novice traders, and how to avoid them?

Benjamin Bilski: A challenge for beginners that applies to any asset class might be not understanding how to control emotions, i.e. fear and greed, and when it might be wise to take profits / cut back. losses. Other than that, I would suggest not to think of crypto coins as lottery tickets, but rather to research before investing in a coin – if there is a real team behind, is there a case use, etc. to reduce the chances of investing in a scam or pump-and-dump scheme.

Ishan Pandey: Tell us a bit about the platform, its underlying vision, and its technology that drives social investment?

Benjamin Bilski: Our protocol is like Facebook in the trading industry. We aim to cover a wide range of investor needs in one place so they don’t have to operate on multiple platforms at once. You only open one account and you can communicate with over a million users, copy their strategies, own real stocks and crypto, pay anything in the world with a NAGA card, participate in fun events and educational seminars, get free education and win awesome prizes in shopping challenges and giveaways. We believe that the social aspect makes trading so much better.

Ishan Pandey: Why do you think retail investors should explore social trading?

Benjamin Bilski: For most people, trading can take years to master, so social trading is a great way to not miss out on the gains over those years while still learning. In short, that means having your own select and trusted group of experts whose trades you automatically copy as you go about your life. The best part of it all – newbies to trading can benefit from the knowledge of experienced traders and copy their trades with one click, while “master traders” earn copy bonuses from their copiers!

Ishan Pandey: Many retail investors seek trading and investing advice on Reddit, TikTok, and Youtube. How do you see this phenomenon? Is it good or should it be regulated?

Benjamin Bilski: While there are savvy investing influencers with a proven track record, any financial advice you can get online should be taken with caution. Nowadays, anyone can record a video saying that an asset will go to the moon, without taking any responsibility. Thus, there are certain risks of being misled about an investment opportunity and losing money because of it. But on the other hand, sometimes social media is helpful in determining market sentiment and what most people are talking about. Therefore, it can help predict what might rise next, as we live in an economy where fundamentals are often secondary to how people think about the asset.

Ishan Pandey: What do you think of the regulations on copying and / or social trading?

Benjamin Bilski: I’m definitely open to this as safety is a must for beginners. The regulations would push every copy trading platform to create the best experience for its users and help them avoid mistakes like entering amounts that are too large for their account size, etc. As our company is public and regulated, we continue to support any further regulatory development. to provide a safe and fair trading experience to over one million traders worldwide.

Ishan Pandey: The rise in popularity of non-fungible tokens, or NFTs, has had a significant impact on the betting industry by enabling secondary markets and engaging gamification. What do you think led to this shift in the industry from the traditional ecosystem towards a more DeFi approach?

Benjamin Bilski: While the correct answer is technology, I would say this industry has grown so quickly simply because it offers people an opportunity to make money from art like nowhere else. With the massive expansion of unregulated digital assets, traders and investors are looking for decentralized financial assets and playing fields where they can feel ‘the freedom’, unlike traditional retail investing.

Ishan Pandey: In your opinion, what are the solutions to the various hazards of Bitcoin and its untapped potential and how to effectively eliminate the many risks associated with cryptocurrency?

Benjamin Bilski: If we are talking about Bitcoin, it seems that the bigger it gets, the more stable it becomes. Currently, 90% of it has already been mined and the ¾ are held and illiquid. The first Bitcoin fund was also launched in the United States. I think it will become less and less volatile, therefore less risky to own due to the size of the network it is supported by. And the highest risk will likely remain in micro-projects and new crypto innovations, as it always has. I think increasing the general understanding of cryptocurrencies among the public might be the way to minimize risk – in other words, not letting risky scams attract attention and letting good projects thrive and bring success. value to people around the world.

Ishan Pandey: What new trends are we going to see within the crypto ecosystem, especially in the post-covid-19 era?

Benjamin Bilski: I think more and more cryptocurrencies will actually be suitable for certain use cases, not just hype and marketing. For example, at NAGA we have created our own NGC coin which allows investors to save 50% of their fees if they pay them with our coin, not for example Euro or USD. So I think a lot more platforms and games will make similar adaptations as well.

Warning: The purpose of this article is to remove the information asymmetry that exists in our digital markets today by performing due diligence, asking the right questions, and giving readers better opinions to make informed decisions.


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