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How & Where to Buy NEM A Step-by-Step Guide to Buying XEM

  1. Sign up at CoinSwitch, the #1 rated XEM exchange.
  2. Fund your account with cash or crypto.
  3. Buy NEMXEM
  1. STEP 1Find the Best XEM Exchange
    • coinswitch reviews
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $
      Coins
      361

      This mobile aggregator platform collects data from all major exchanges, making it possible to swap a large number of cryptocurrencies at highly competitive rates. Mobile app-only CoinSwitch Kuber is the most popular cryptocurrency exchange service in India, with over 4 million users. Hassle-free arbitrage and trading process.

    • 102
      Ease of use
      Average
      Time to 1st Buy
      2 hrs
      24h Volume
      $1,042,022,137
      Coins
      315

      China’s biggest cryptocurrency exchange and the second-biggest exchange in the world. Huobi is highly respected and well designed, with a stunning trading platform, more than 50 fiat currencies accepted, and fair trading fees. Now based in Seychelles and listed in Hong Kong, it serves a primarily Asian customer base.

    • bithumb exchange
      Ease of use
      Difficult
      Time to 1st Buy
      3 hrs
      24h Volume
      $181,059,787
      Coins
      179

      South Korea’s number one crypto exchange, which offers both a Korea-only and a global platform. On the native platform, fees are based on an interesting ticket system, whereas Bithumb Global trading fees are fixed. Plenty of coins to choose from, as well as an education platform that can reward learners for their participation.

    Go to CoinSwitch and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase NEM NEMXEM quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy XEM with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for XEM.

Frequently Asked Questions About Buying & Selling NEM (XEM)

How do I Buy XEM with Crypto?

If you want to buy XEM with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for CoinSwitch and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to CoinSwitch.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell NEM (XEM)?

To sell XEM, simply reverse the buying process described above. You will likely need to trade your NEMXEM into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

NEM Research Center

NEM Technical Details & Statistics

Tokenomics
  • Market Rank85
  • Market Cap1,474,597,764
  • Circulating Supply8,999,999,999
  • Total Supply8,999,999,999 XEM
  • Max Supply8,999,999,999
Yesterday's Trading
  • 24 HR Volume113,320,912 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

What is NEM

NEM (XEM) is second-generation cryptocurrency platform, written in Java and C++. It offers multiple features, including its unique POI (Proof of Importance) hashing algorithm, encrypted messaging and multi-signature accounts. It also offers its own NEM Nano Wallet where users can trade assets created on the NEM platform as well as utilize NEM’s templated smart contracts (i.e. mosaics, apostille, voting).

The NEM Blockchain

NEM’s blockchain platform was built for scale and speed. The permissioned blockchain was designed and coded from the ground up to deliver the industry’s best transaction rates for internal ledgers. The Supernode program allows for unlimited growth without sacrificing the public blockchain’s stability.

NEM’s Revolutionary Consensus Mechanism—Proof of Importance

NEM’s major innovation, Proof of Importance, is a novel algorithm that uses network theory to assign a rating of each account’s importance in the network. Unlike Proof of Work (POW), POI does not cater towards those who can afford the most powerful computing, and it is a more eco-friendly solution as it prevents miners from accumulating expensive power bills. It also acts as a solution to the alternative Proof of Stake (POS) algorithms which give an unfair advantage to those hodling the most coins.

  • POI only counts coins that have been in the account for a number of days.
  • 10% of the current unvested amount vests each day.
  • The higher the number of vested coins, the higher the account’s POI score.
  • It takes a minimum of 10,000 vested coins to start harvesting.

Catapult

Catapult, also known as NEM 2.0 is a full-featured blockchain engine that can power both private and public networks with its unique smart contract plugins. It serves as an extension of the private chain to the NEM public chain adding more functions and features to support a wide variety of industries. These plugins enable bulletproof digital asset creation, decentralized swaps, advanced account systems and business logic modeling.

Catapult broadens blockchain technology relevance to a wider spectrum of use cases from currencies, exchanges, IOT Micropayments, rewards programs, and bank accounts to copyright management, notarizations, voting, inspection records and more.

How NEM Works

NEM works similarly to bitcoin in the sense that it uses a blockchain to convey transaction data. Unlike bitcoin, it uses a Proof of Importance (PoI) hashing algorithm, which is closer in similarity to Proof of Stake (PoS) than bitcoin’s Proof of Work (PoW).

When a payment is initiated, the user needs to send the receiver’s wallet address along with the amount of NEM to be transferred to the network. The nodes then approve (or disapprove) this payment and once approved, the receiver receives the payment. There is a tiny fee associated with each transaction.  Supernodes (nodes with high computational power) serve to help process the payment and add its corresponding information to the NEM blockchain.

History of NEM

The Alpha version of NEM was released in June 2014, followed by Beta version in October 2014. The stable version of NEM was launched in March 2015. The NEM blockchain was designed for integration with and use by commercial and government enterprises. The NEM Foundation is endorsed by an international network with expansive experience in IT, entrepreneurship, business processes, trading, property and asset development, global management and academia.

Visit the Getting Started on NEM guide to find more information on how to access the NEM network, download and install the NEM wallet, and get some NEM. Find out how NEM could benefit your business and get comfortable with NEM’s basic features on the Testnet.

Why NEM

NEM was conceptualized to be drastically different from bitcoin where security, ease of use and other features were redesigned from the ground up. Among its differences are:

  • Ultra Secure Transactions: NEM uses EigenTrust++ protocol for node reputation which enhances the security of the network considerably. No other cryptocurrency makes use of this.
  • Completely New Code: The code of NEM is not derived from Bitcoin code which makes it difficult for hackers to attack the network as it doesn’t carry any inherent flaws/weaknesses of bitcoin. Instead of the traditional PoW (Proof of Work), NEM makes use of PoI (Proof of Importance).
  • Built-In Spam Protection: The inherent spam protection mechanism of NEM can identify spammy nodes of a network and can take them down without disrupting the whole network. This means that the NEM network remains functional even during spam attacks.
  • Multi-signature Accounts: Without the complexity of writing code (as seen with Ethereum), NEM allows users to implement multi-signature accounts with only a few clicks. Even new users can utilize this feature with relative ease.
  • Receive With A Name: Using the Namespace concept, NEM participants can create unique “domain names” for themselves as personalized receiving addresses, much like website domain names. Payments can be sent to and received from these domain names, instead of an address.
  • Built-In Messaging System: Completely secure, encrypted messaging is allowed between two parties involved in a payment on the NEM network. For programmers, it is possible to send Hex messages as well.
  • API Integration: With NEM, it is easy to implement custom-built applications to interact with any network and use the NEM network to facilitate payment processing automatically, in real time.

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