Currencies> NEM (XEM)


What is the NEM cryptocurrency?

NEM stands for New Economy Monument, and lives up to its name. The token was born in 2015, and immediately became popular in the crypto community, thanks to innovative solutions offered by the project team. The active development of the NEM crypto began a year later, and it attracted even more attention to the coin. Today, this cryptocurrency is in the top 10 in capitalization, and can seriously compete with Bitcoin and Ethereum, according to the NEM cryptocurrency news.

f you google about the NEM cryptocurrency you’ll find out that its story is not without its bad moments. In particular, the cryptocurrency has been involved in the largest in the history of the crypto community scandal with the theft of digital assets. The story of the cryptocurrency exchange Coincheck continues today. However, NEM's success in terms of the latest developments should put it at the forefront of the NEM coin future.

What are the advantages of the NEM coin?

  • New Proof-of-Importance consensus (PoI) algorithm. Unlike Proof-of-Stake, which only considers the number of cryptocurrencies in a user's account, the PoI also takes the contribution of each user to the ecosystem into account. Simply put, priority is given to people who have confirmed more transactions, regardless of their account status. This brings the XEM coin mining to the next level.

  • Own source code. Unlike many other popular cryptocurrencies, which appeared thanks to the hard fork or borrowed code, NEM is an original development.

  • Ability to create your own projects. NEM platform offers users to create their own applications and promote them, thereby generating income on the site.

  • Transaction speed. This cryptocurrency is 10 times more quickly than Bitcoin.

  • Outlook. The NEM project was developed for further integration into the global financial system. The creators expect that their developments will be of interest to banks. This is a serious argument in favor of the commercial attractiveness of cryptocurrency.

Where to store the NEM?

Today, the cryptocurrency can be stored in various wallet services, there’s also the official NEM wallet. To create it, you need to go to the website and select the Wallet section. After that, select the operating system and download the installation file.

When installing, you will be prompted to install a Simple Wallet or Smart Wallet. The first option is a simple wallet, security is provided by a password and a file .wlt. The second option is an advanced one, you need to use only a password to access. After that, the wallet will be installed. To activate it, you need to make one transaction in the system.

How to buy the NEM cryptocurrency?

NEM is in the top of cryptocurrencies by capitalization, according to the recent XEM coin news. Therefore, you can buy the NEM coin on many crypto-exchanges. The main trading platform for such operations remains Binance. Most of the trades on cryptocurrency and fiat pairs are held here. In addition, you can buy XEM coins on Poloniex, BitCoin, HitBTC, BTC38, Bittrex, BeatCoin, alcurEX, COSS, Cryptopia, etc. You can find out the actual NEM cryptocurrency price on Coinmarketcap.

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