Currencies > NEM (XEM)
What is the NEM?
The NEM cryptocurrency became famous in the crypto community in a very sad way. It was it that appeared in the famous scandal with Coincheck, which became the largest theft of crypto-coins in the history of the industry. However, the negative news hides a lot of interesting developments and a promising cryptocurrency, which is not yet appreciated.
So, NEM (XEM) is a cryptocurrency that was created as a means of payment. However, the idea of the project team was not to create another “improved version of bitcoin”, the plans were much more global. The result is a unique blockchain that has received all the best from the Ethereum, Bitcoin and Ripple systems. The abbreviation NEM stands for New Economy Movement, and indeed, the new platform offers users huge opportunities.
NEM mining has a number of features. In particular, in the system, it is divided into two types - local and delegated ones. The difference is that in the first case, the user's online client is launched with the provision of a private key for multi-signature of the block, and in the second case, the remote intermediary client with a zero balance is launched. An interesting feature of delegated mining is that it works even if the user's computer is turned off.
What are the advantages of the NEM currency?
High speed of transactions. In the NEM system, financial transactions are 10 times faster than in the Bitcoin network.
Wide opportunities for users. On the platform, there is an opportunity to create your own applications, attract investment and conduct ICOs. This suggests that the project may become popular among startups in the cryptocurrency industry, and so the NEM coin future might be prosperous.
Course to work with banks. The project team stated that its goal is to cooperate with large financial organizations. NEM developments may be of interest to banks, as they were previously interested in the Ripple technology. This can greatly increase the NEM (XEM) currency price.
Unique mining. You can get the NEM coin even if the computer is turned off. It is easy to connect to delegated mining, you only need to activate your account (the verification takes up to 6 hours) and pay a commission of 6 XEM.
Where to store the NEM crypto?
To invest in NEM, as a rule, an official wallet is used. It's called Nano wallet for NEM. It’s the best wallet for NEM. In order to register, you need to go to the official website of the project, select Wallet, and then select your operating system. Next, the installer will be downloaded, after which it should be installed. After the installation starts, a browser with a registration page will open. Fill in the fields and continue the installation. Pay attention! During registration, a private key is generated. Be sure to save it.
In addition to NEM Nanowallet, you can store cryptocurrency in two multi-currency NEM (XEM) wallets. It's XEM Guarda and Coinspot.
How to buy the NEM cryptocurrency
The NEM cryptocurrency is in the top-10 in terms of capitalization, according to the recent NEM cryptocurrency news. The prospects of the platform attracted large cryptocurrency exchanges, so you can buy the NEM coin on many platforms. In particular, it’s XEM Binance, Huobi, Livecoin, OKEx, EXMO, YoBit and others. Trading is carried out mainly in pairs with BTC and ETH, but on some exchanges you can buy the cryptocurrency for USD or EUR. On Binance, you can buy it for BNB. Users can see the current NEM cryptocurrency price at coinmarketcap.com.
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