What is NEM (XEM)?
NEM is a smart asset blockchain that was created first in 2014, but didn’t go public until 2015 when they had a stable version of the product. NEM has been created in order for people and companies to customize their use of the blockchain technology, using it for smart contracts or similar, with direct API access to a variety of different blockchain features.
NEM was started by the Bitcointalk forum user known as “UtopianFuture”, who created NEM initially as a fork to NXT, but ended up coding NEM from scratch as its own unit. The goal was stated to be to create a community-based cryptocurrency, from which the technology also received plenty of help from. Those who were supposed to receive funds upon release had some issues however, as many didn’t receive the funds they were supposed to. Instead the developers kept those “unclaimed” coins.
NEM has its own cryptocurrency, known as XEM, which is what users can mine. The coin is primarily popular in Asiatic countries, but can be traded and used all across the globe. The creators of NEM is currently in the process of creating a new code behind the technology, moving from Java to a C++ version instead. This is supposed to launch in the beginning of 2018, but has yet to be released at the time of this article (April 2018).
The Japanese cryptocurrency exchange Coincheck was a victim of a hacking attack in January of 2018, which led to the loss of a total of 523 XEM coins, worth around $524 million at the time. While NEM was not to blame for the attack, the developers still integrated a feature which automatically tagged the stolen coins and follows it into wallets receiving the funds. They stopped tracking the coins in March of 2018, with enough information for the police to take over the case.
There’s a total of 8.999.999.999 XEM in circulation, which is the entire supply that will be available. XEM currently holds a value of around $0.22 per coin, providing a total market capitalization of around $47.580.000. At its peak, XEM coins were worth around $1.5 per coin, but has since then fallen massively in value, despite still being one of the more popular coins out there.
What Can I Use It For?
As mentioned above, NEM is a smart asset blockchain that companies and people can use for smart contracts and other features. The technology is constantly being developed on and has been implemented with several partners across the globe, using it for a wide variety of projects. This could be to reward users for content, payments for tasks, enable security on websites and so forth.
NEM can also be used as a payment system between two parties who wishes to pay each other for work or simply transferring money. This can be done by sending XEM coins to a wallet, from where the coins can be exchanged into FIAT currencies on exchange sites. Unlike many other coins, the transactions are fast, cheap and reliable and provides an easy way to transfer money all across the globe.
If you are looking to get your hands on some XEM, either to use its smart assets blockchain technology, to transfer money to a friend, gamble or even just because you believe the value of the coin will go up, you will need to go to a safe and reliable site for doing so. We have several partners who currently offers the possibility of trading or buying XEM, either with Bitcoins or even FIAT currencies, where you can be assured that your funds are completely safe.
Below you will be able to read more about some of our partners who currently offers trading of XEM coins, but you are always welcome to contact us if you have any further questions regarding how to do so. You can read the full review of the trading sites by clicking on the names of the exchanges below:
AlfaCashier : AlfaCashier is a Russian based cryptocurrency exchange site, where you can buy and sell a wide variety of cryptocurrencies, including XEM. You can purchase the coins, using FIAT currencies or cryptocurrencies, and receive them instantly in your site wallet and transfer them to your own wallet from there. The site is easy to use and has a great design, while offering around the clock support. You can read more about AlfaCashier here.
Binance: Binance is one of the world’s leading cryptocurrency trading sites, offering trading of more than 50 different cryptocurrencies, including XEM. You can choose the cryptocurrency you wish to trade XEM against, if you believe the value will rise in comparison to the other amongst other features. You can read more about Binance, its features and everything else, right here.
Playing with XEM
Since the birth of cryptocurrencies, it has been used as method of gambling, whether it be to play poker, sportsbet or even have fun in a casino. While not all coins are currently being used for this, XEM coins are quite popular coin to gamble with and thus several sites have integrated it into their offerings.
But you should still be careful about where you choose to play with your XEM coins, in order to avoid running into a site where the games are rigged or even worse, where they don’t pay out your winnings. We have partnered up with some sites that we believe are trustworthy, which you can read more about below.
LuckyGames: LuckyGames is one of the more popular online cryptocurrency casino sites, not only due to their great design and variety of different games, but also due to them offering games to more than 40 different cryptocurrencies, including XEM. The site offers quick deposits and cash outs and has fun games such as dices, roulette and some of their own proprietary games such as cells. You can read more about LuckyGames right here.