What is NEM (XEM) Coin
NEM (New Economy Movement) is an ecosystem of platforms that use blockchain and cryptography to provide solutions for businesses and individuals. XEM is the native cryptocurrency of NEM’s NIS1 public blockchain.
NIS1 operates in a similar way to Bitcoin (BTC): it has a network of distributed independent nodes that process and record transactions on a public ledger called “blockchain.” These nodes are incentivized to contribute their time and computing resources and remain incorruptible via transaction fee rewards; these rewards are paid out in XEM coins to each node that manages to add a new block of transactions to the end of the blockchain.
However, NIS1’s blockchain has a number of unique features that set it apart from Bitcoin and most other cryptocurrencies. The alpha version of NIS1 — or NEM as it was known at that time — was launched on June 25, 2014, and its mainnet went live on March 31, 2015.
- NEM stands for New Economy Movement. According to the team, NEM aims to “service enterprise blockchain markets and extreme versatility in servicing diverse markets”.
- XEM is the native currency of the NEM public blockchain, which was launched in 2018.
- It is used to pay for transactions on the NEM public blockchain. It is used to incentivize the network of public nodes to process and record transactions for participants.
- According to the team, its core characteristics are zero-inflation (the amount of XEM tokens in the ecosystem is fixed), scalability (owing to a high TPS ~ 4,000 TPS), ecosystem support (through the harvesting of XEM tokens), and power-efficiency (with negligible electricity and hardware costs relative to PoW blockchain).
How To Buy NEM (XEM) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Xem coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Nem coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a NEM (XEM) Coin
NEM (XEM) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
NEM (XEM) Coin Review
You can learn more about NEM (XEM) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website
https://nem.io/
Github
https://github.com/NemProject/
Documentation
https://docs.nem.io/en
Telegram
https://t.me/nemtr
