Altcoin to Invest: NEM

post image

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.

Nasdaq Will Launch Bitcoin Futures Next Year, Confirmed
Last year December two significant exchanges — CME and Cboe — launched bitcoin-based futures, causing the currency’s price to soar till $20,000 and then...
Entire Crypto Market Depreciated By $13 Billion Within Just Three Hours
The total market cap of cyber assets lost around $13 billion just in a few hours as the prices of top virtual coins plummeted on October 11. Media outlets...
Another Japanese Crypto Exchange Hacked: Hot Wallets At Fault
It’s been a little more than half a year since a Japanese cyber-money bourse CoinCheck was hacked. Last week another Japan-headquartered crypto-exchange...
Last Year 80% of ICOs Were Scams, Research Shows
It is time to reiterate the all-time crypto-mantra: invest in cyber coins only the amount you can afford losing. It is time for a reminder as over 80% of...
Blockchain & BTC May Help Japan Reiterate Its 1980s Economic Success
Blockchain, bitcoin and other cryptos can be the cause of next bonanza of the Japanese economy. The country has been struggling to restore its last century...
20% Of Banks And Hedge Funds Are Interested in Trading Cryptos – Survey
Despite hazardous fluctuations, which have been shaking up the word of cryptos, bitcoin and its brethren have all the chances to succeed in 2018. The thing...
Uzbekistan to Legalize Bitcoin, Open a Blockchain Center
Uzbekistan appears to be among the latest countries that have stepped on a path of cyber money regulation. According to local media reports, a relevant...
Bitcoin Plunges Below $8,600 As Crypto Market Marks Another ‘Bloodbath’
Today, February 1 might mark another ‘black’ day in the history of cryptocurrencies. On this day first ever mined cyber-coin in the world – bitcoin – achieved...
‘Bitcoin Has Economic Value,’ South Korean Court Rules
This is a milestone in the history of bitcoin’s nine-year-old existence. For the first time, one of South Korea’s courts has held that the most known...
Hackers Moving Stolen Money, Users to be Repaid: Coincheck $530 mln ‘Soap-Opera’ Goes On
$530 million NEM ‘soap-opera’ theft continues. Recently, the Japanese exchange Coincheck, which sustained a massive cyber-attack, notified that it plans...
CryptoKitties Go To China
Recently, the company-developer of the game CryptoKitties Axiom Zen announced that it is going to conquer the Chinese market. Co-founder of CryptoKitties,...
Head of Russia’s Largest Bank Says Cryptos Should Not Be Banned
Digital assets should not be tabooed by governments. Such an opinion expressed Herman Gref, the head of Russia’s largest and most known bank Sberbank. Moreover,...
Physical Item Reportedly Purchased On Lightning Network For The First Time Ever
Being deployed at the beginning of this year, Lightning Network is highly anticipated to solve the blockchain scalability problem. And it seems that the...
Why Bitcoin Will Never Survive Without Fiat
People consider bitcoin unique in lots of terms. But it is especially peculiar if compared to the economy of a country. Bitcoin network will perennially...
Will Banks Die if Bitcoin Reaches $400,000?
Several experts have already claimed that the sky is the limit for Bitcoin, as in the future it will hit $400,000. In particular, such statements have been...