Altcoin to Invest: NEM

Altcoin to Invest: NEM

As soon as NEM appeared on the market, it immediately aroused great interest among miners and investors. The basis of this digital currency lays in the original idea, combined with excellent functionality which leaves behind many of its competitors. NEM is one of the leaders among other cryptocurrencies regarding capitalization and liquidity. Today, the NEM associations are people from around the world, but mainly from Japan, South Korea, and China. The capitalization exceeded $3 billion.

What is NEM?

NEM (New Economy Movement) is the young blockchain-based project, like many other cryptocurrencies. The tokens entered the market in 2016. Today, the NEM associations are people from around the world, but mainly from Japan, South Korea, and China. The capitalization exceeded $3 billion.

Our top trading bots

The cryptocurrency functionality

The functional spectrum of the NEM platform ranges from messaging for the P2P protocol to creating reliable token purses. For the first time, the platform developed a notarial service for affixing a digital signature of property rights. Open code offers unlimited possibilities in the development of various projects.

The central landmark of NEM system is bank transfers. The creation of one block takes up to one minute. However, aggregating production capacity can achieve more data throughput.

NEM works with Mijin system, which provides secure payments. Mijin proved to be excellent in working with major Asian banks.

What is the advantage in the cryptographic system?

  • 1. Self-supported chain of blocks is more reliable than other banking systems.
  • 2. The lack of intermediary bank reduces the transaction fees.
  • 3. Transaction errors are eliminated because the blockchain system permanently checks the link in the chain.

A decentralized system works without a dedicated server. It prevents the threat of hacker attacks.

But NEM is not ideal because there were cases with broken purses and exchanges. But in cryptocurrency defense, all of these hacks were possible because of the applications connected to the blocks and not because of the fault of the failures and gaps in the blockchain.

NEM aspects and miners interest

The protocol of Proof of Importance (POI) plays a significant role in providing the quick transactions. The main purpose of POI - establishing the miners’ priority by transactions number not computing and sharing the number of coins. It stimulates the network development in the best way.

Investing in NEM

It is better to stock up on some bitcoins before you start working with XEM tokens. Their presence ensures the smallest spread in the exchange. Then you need to create a multi-currency purse. You can make it on the exchange where you purchased bitcoins, or on another reliable resource.

You can buy XEM on any major exchange, but remember that they are not so familiar to offer such high opportunities as bitcoins. Therefore it is necessary to study the proposals of each trade separately.

But all restrictions on the XEM purchase gradually disappear with the popularization of this cryptocurrency. Some services offer you to buy coins with credit cards.

However, you should not forget safety precautions because of ever-growing possibilities of cryptocurrency acquisition.

  • 1. Choose exchanges and online wallets with a proper capitalization, and substantial work experience.
  • 2. Study the investment ICO-projects before taking part in them.
  • 3. Install firewalls and antivirus software: take care of the site security.
  • 4. Keep the keys out of the purse in a safe place and don’t disclose them.

XEM price

The NEM cost demonstrated an enviable rise relative to bitcoin in May-August 2017. Since then, the XEM price began to decline. But it is early to make conclusions. Experts see no reason to panic, as the cryptocurrency has solid margin and great potential. Currencies with open source and with broad social relevance have a good survival in the tough competitions. And with that, NEM's all right.

US megabank JPMorgan to hire more blockchain talent
Major American investment bank JPMorgan is upping its blockchain hiring spree by posting a series of new blockchain-related job applications.JPMorgan has...
Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines
The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the...
Bitcoin price steady around $40,000, Fed rate decision in focus
By Samuel IndykInvesting.com – The price of Bitcoin was hovering around the $40,000 level on Wednesday after failing to extend above $41,000 during Tuesday’s...
Polkadot creator Gavin Wood proposes June 15 for first Kusama parachain auction
Polkadot and Kusama creator Gavin Wood has published a tentative schedule for the much-anticipated Kusama parachain slot auctions. According to a blog post...
As Microsoft Azure closes shop, ConsenSys Quorum opens up to new users
Just as the cryptocurrency sector is constantly changing and evolving, the enterprise blockchain industry has been undergoing its fair share of developments...
SEC chair hints at greater regulatory oversight for US crypto exchanges
Recently confirmed U.S. Securities and Exchange Commission chair Gary Gensler punted to congress on providing more regulatory oversight to the crypto space,...
3 reasons why Bitcoin is on shaky ground after failing to retake $60K
Bitcoin (BTC) is back testing lower levels after failing to conquer $60,000 resistance — and indicators suggest the downturn is not over.BTC/USD bounced...
Cardano Tumbles 25% In Rout
Investing.com - Cardano was trading at $1.079454 by 23:39 (03:39 GMT) on the Investing.com Index on Sunday, down 24.82% on the day. It was the largest one-day...
Garry Tan’s 2013 investment of $300K in Coinbase is now worth $2.4B
Garry Tan, a prominent angel investor and the founder of Initialized Capital, was one of the first investors to provide seed funding to Coinbase eight years...
German software developer donated $1.2M in 'undeserved' Bitcoin to political party
A German national who reportedly sees his Bitcoin profits as "undeserved wealth" has donated more than $1 million to the country’s green political party.According...
Filecoin Foundation donates $10M in FIL tokens to Internet Archive
The Internet Archive, an American nonprofit behind major digital archive Wayback Machine, has received a $10 million cryptocurrency donation from the Filecoin...
Indian crypto exchange execs intensify lobbying efforts to prevent ban
Nischal Shetty, CEO of Indian crypto exchange WazirX, and other stakeholders in the industry are reportedly working toward convincing the government to...
German Prosecutors Had To Sell Seized Cryptos Worth $14 mln Under A Loss Threat
German authorities had to urgently sell confiscated cryptos worth more than €12 million ($14 million). The case would not be there unless crypto-assets...
Coinbase Announces “New GDAX” Launch, Obtaining Paradex
This week one of the most popular cyber money trading venues Coinbase, headquartered in California, has stirred up the crypto-community moods with two...
Russia Finally Presents Draft Law On Cryptos: What’s Inside
In the rage of the Eastern European digital money regulation, Russia seems to have positioned itself quite firmly. With the preliminary consideration...