What Is NEM and How to Buy It?

What is NEM?

How NEM works

  • A new codebase. Firstly, it was created as a fork of Nxt with quite a few similarities to other cryptocurrencies, but its creators ultimately decided to create a whole new codebase.
  • Proof of Importance. Unlike the others, NEM uses a POI algorithm where a node runs independently of the NEM Community Client. This allows users from low-power devices to operate without making a full copy. It is called Proof of Importance because its operation prioritizes according to the “importance” of the client based on the number of coins it owns.
  • Instead of mining in NEM, it is called “harvesting” and it consumes less energy than mining, which entails lower commissions.
  • Supernode program. It is a reward program for users who are running active nodes. High-performance nodes help protect the network, but you must have at least 30 million XEM to participate.

Advantages and disadvantages of NEM

Where to store XEM

Where to buy XEM

How to exchange XEM on SwapSpace?

  1. On SwapSpace homepage, select XEM in “You send” section and the cryptocurrency you would like to receive in “You get” section. Enter the amount of XEM you want to exchange.
  2. Choose the instant exchange service that suits you most.
  3. Specify the recipient address and check if all the data is correct.
  4. Send your XEM coins to the address you will see on the screen.
  5. Wait until the exchange is complete.

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SwapSpace

SwapSpace is a cryptocurrency exchange aggregator that allows you to swap over 700 cryptocurrencies instantly with no limits, no extra fees and without sign-ups