New Economy Movement (NEM) is a Smart Asset Cryptocurrency that was launched on March 2015. It is a new introduction in the blockchain system and it allows the co-existence of multiple ledgers in one blockchain. NEM coin (XEM) is being used for various purposes across the world and it is gradually becoming popular in the Crypto world.
To get NEM coins, the system used is called harvesting rather than mining. Harvesting in NEM is a procedure of creating blocks and then obtaining a reward of the transaction fees that would have been incurred if the block was to be bought. This method is used to preserve the wholeness of the NEM blockchain. In this case, when a user with NEM creates a new block on the platform, they are paid the transaction fees on that block as payment in NEM coins (XEM). Just as mining, this method requires intense knowledge and experience pertaining NEM blockchain.
BEST NEM WALLET PROVIDERS AND EXCHANGES
As it is with every crypto wallet and exchange, it is advisable to make certain researches about a particular platform before using it. The case is no different for NEM, when looking for a good NEM wallet or exchanges make sure they attest to providing top notch security, to ensure the safety of your money and their customer support should be reputable also so you can easily get help when issues occur. Below is a list of Recommended NEM Wallet Providers and Exchanges.
- Nem NanoWallet:
This wallet was issued with the consent of NEM, it is seen as the official NEM desktop Wallet. This wallet has a nice user interface and it is easy to use, it also features a good security system. NEM Nano Wallet uses private keys as one of it security methods and it is available for Windows, Linux and Max devices.
2. NEM Mobile Wallet
This is the Mobile Version of the previously mentioned NEM Nano Wallet. This wallet contains all features of the NEM Nano Wallet but is optimized for mobile usage. The NEM Mobile Wallet is available for both Android and iOS devices and it can be downloaded from the Google play store and Apple store respectively, it is free for download.
Binance is well known as a crypto wallet provider, few months ago, they introduced NEM as one of the available crypto currency on their platform and I recommend them for anyone if you want to store or trade on NEM coins.
Kucoin is one of the largest cryptocurrency exchanges in the world today. They offer exchanges for a variety of cryptocurrencies of which NEM is one of them. KuCoin uses AES (advanced encryption system) and 2FA (Two-Factor Authentication) for their security and it is a nice bet if you are looking for a wallet or exchange for your NEM coins.
Trezor is a popular cryptocurrency Hardware Wallet. This wallet uses a pin code that prevents it from being compromised when it gets lost or stolen. With Trezor, the safety of your NEM Coins is guaranteed.