NEM token (XEM) is one of the most popular cryptocurrencies in the crypto market currently. In terms of market cap, it is currently the 80th largest digital currency (over US$1.74 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the NEM coin, how it works, and many more.
NEM stands for New Economy Movement. It is an ecosystem of platforms that provides solutions to both businesses and individuals by using blockchain technology and cryptography. NEM’s NIS1 public blockchain’s native cryptocurrency is XEM.
The NIS1 public blockchain works very similarly to Bitcoin (BTC). It comes with a distributed independent nodes’ network, which processes and also records transactions of a distributed public ledger (DLT) known as blockchain. When a node contributes its computing resources as well as time, it gets rewarded. Though transaction fee rewards, they remain incorruptible. XEM tokens are used to reward the nodes once they manage the process of adding a new block of transactions to the blockchain end.
There are many unique features associated with NIS1’s blockchain, which makes it different from Bitcoin and many other cryptos. Though NEM, the alpha version of NIS1, was launched on June 25, 2014, the mainnet was launched on March 31, 2015.
This protocol was mainly developed by 3 developers, who are known by their pseudonyms on the Bitcointalk.org forum as Jaguar0625, BloodyRookie, and gimre. Since its inception, this platform has grown from a 3 programmer project to an ecosystem that includes several platforms.
The NEM Group manages the overall development and promotion. This group is the parent company that has been designed to support the NEM ecosystem’s growth that led to Symbol’s (NEM 2.0) launch and way beyond that.
There are 3 separate entities in the NEM Group and they are:
XEM is a decentralized open-source cryptocurrency, which comes with multiple features. The most important feature is definitely the high security of NIS1 blockchain, which is secured by its own proof of importance (PoI) algorithm and consensus mechanism instead of the proof of stake algo. The PoI consensus algo ensures that the transactions are processed as well as recorded in a timely and honest way.
As per the proofofimportance POI protocol, anyone can use the delegated harvesting process for running a node on the NIS1 network and in turn, facilitate transactions. This system approximates the importance of a node in the NEM’s economy by checking some factors such as:
An importance score is approximated on the basis of the above-mentioned parameters. Fees from the transactions the nodes have helped to process are received by the nodes on the basis of this importance score. As per the claims of NEM, the network is capable of identifying and rewarding those (thanks to the proof-of-importance system) that use it most in reality.
Many other features are also supported by NIS1 in addition to its unique PoI algorithm and they are:
Enterprise-level solutions are yet another important market for NIS1. The developers are allowed by NEM through a purpose-built API system for integrating its blockchain infrastructure into 3rd party apps.
All these facts and figures (as of November 15, 2021) will help you to make a decision on investing in the NEM token. Before making NEM coin transactions, check out these facts and figures associated with this cryptocurrency of choice:
These are the facts that made the NEM coin a preferred medium of exchange. Always check out market data, key metrics, comparison tools, and technical price analysis, top cryptocurrency price, and cryptocurrency news before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins, know the ways of buying cryptocurrencies, and how to earn crypto easily.
You can buy NEM coins in almost all reputed cryptocurrency exchanges including:
You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange.
The most popular price pairs of XEM are:
Before investing, check out historical data of token NEM, crypto news, NEM token price charts, price performance, market updates, XEM to USD (United States Dollar) exchange rate, the value of NEM coin, trading fees, and others.
The best NEM token cryptocurrency wallets to store XEM coins are:
You can buy and sell NEM and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and NEM token markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility.
If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit.
You can also diversify your crypto coin portfolio by including other digital assets such as NEM, XMR, FIL, ETC, WBTC, BCH, BTC ETH, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Dogecoin price, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others.
Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. You can also increase your income through yield farming, using NEMegram bots and other automated trading bots, and many more.
Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways.
NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.
The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error.
Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading Crypto-assets at reduced financial barriers and no human error.