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In this article, you can find out what the NEM (XEM) currency is, what advantages and disadvantages it has, and how it is mined (mined).

The current exchange rate (online change) of NEM to the US dollar at the current moment and fluctuation during the day.

What is NEM cryptocurrency?

The NEM (new economic movement) cryptocurrency is presented as a fresh project with great investment prospects. The token of the cryptocurrency in question is referred to as XEM on crypto exchanges and is a full-fledged competitor to Stellar and . The development of the currency falls on 2016 and so far it has managed to win strong approval from Japan. What are the features of the young currency and how profitable is it to mine?

The cryptocurrency platform in question is peer-to-peer, based on Java and Javascript and has a unique source code. The functionality upgrade does not end there - the Proof-of-Importance algorithm harmoniously complements the blockchain technology. It also focuses on the use of the Eigentrust ++ system, a multi-signature, integrated system for the exchange of encrypted information.

Thanks to the NEM platform, users have the opportunity to create secure and easy-to-use cryptocurrency wallets, as well as exchange P2P messages. It was on the basis of this platform that the first active notary blockchain service was created, suggesting the possibility of using a digital signature to confirm ownership. Thanks to the open source, the creation of other commercial projects is also possible, taking into account also the release of new tokens or the holding of an ICO.

Financial technologies still remain a priority for creators, we are talking about bank transfers. Blocks are generated quite quickly, in just 60 seconds, so there is a predisposition for such prospects. Up to 4 thousand transactions per second are supported thanks to Catapult - the author's system for aggregating operations. Such characteristics make the platform in question the fastest financial messenger. In addition to speed and efficiency, the Mijin system is implemented, which makes transactions secure.

Who created and when?

The launch and active use of NEM falls on May 2015. Prior to this period, the cryptocurrency was tested for six months at the initial stage and then used as a beta version. The developers are the specialists of the NemProject company, who directed their activities towards the creation of a long-term and promising project, and they succeeded. The key goal was presented by the speed and security of financial transactions, and they also achieved this.

Peculiarities

The key feature of the cryptocurrency in question is a completely unique, open source code. The platform works on the basis of the POI algorithm, which, before generating the next block, analyzes the contribution of each user to the promotion and development of the currency. Compared to POS, the size of the share of the miner will be a priority. The considered approach is more open and honest.

According to this system, validators and miners are commonly referred to as harvesters, and harvesting is presented as a block reward. The role of a harvester can be assumed by any user who has installed a masternode, however, it is worth observing the obligatory condition - having at least 10,000 XEM coins on your balance. It takes only a minute to generate one block, wallets are easy to use, and software installation does not take much time. The final issue size is 9 billion XEM.

Another feature worth focusing on is the special rules for calculating commissions for ongoing transactions. The calculation depends on the amount of balance on both sides of the transaction, the activity of participants in the system, the level of security of the transaction. The amount of the commission will be increased in proportion to the size of the user's balance. This mechanism was deliberately used by the developers so that the coins would not be accumulated en masse and the cryptocurrency would be widely used.

Advantages

The advantages of this platform include the following factors:

• the currency is aimed at the existing financial economic sector, which is guaranteed to use innovative cryptocurrency schemes sooner or later;
• the algorithms of work are unique and involve rewarding active users with success, and not more wealthy ones.

disadvantages

The novelty of this cryptocurrency is its main disadvantage, but at the same time it is also an advantage, since the project does not cease to expand and improve. Developers provide users with related products, and in the future, the struggle for leadership is clearly visible.

How to buy NEM?

There are three ways to buy NEM cryptocurrency.

1. Using the Livecoin exchange to buy is a fast, profitable and convenient way. However, it is worth remembering that trading takes place in small volumes. For transactions in the amount of 300-700 dollars, this method is still suitable, but not at higher rates.
2. Using fiat money to buy bitcoins and further transfer to the Poloniex exchange. Buying coins in large volumes is available here. The process in this case is not so comfortable and longer. Additionally, it is necessary to pass verification before bidding.
3. Using the Changelly exchange is just as easy and fast as the first one. The purchase is made with a Visa/Mastercard. Purchase commissions can be quite impressive.

Where to store?

To store coins and operate with currency, you should use special NEM wallets, for downloading which you should use only reliable sources.

An example is the official website https://nem.io, where the developer provided all the necessary information about the product. For convenience, users can choose the version of the wallet depending on the device they are using.

After downloading and installing, it is worth registering, after which you will have a personal NEM address. This address is unique and is issued personally to each participant, it allows you to send funds directly to your account, no matter what resource you carry out a financial transaction on. The considered version of the wallet can be represented by different formats, the differences between which are in the level of security, which is provided by different types of keys. Even beginners have no problems with the interface.

How to mine (extract) NEM - instructions for beginners

Since the project is not yet very widespread and the purchase is not possible on every exchange, it is possible to analyze each available resource and choose the best conditions. This nuance is also an advantage, since the new cryptocurrency product gives miners a field for action if mining is originally intended by the developers. Therefore, the user can act as a discoverer and get a good profit by mining the coin. As for mining methods, the following methods are relevant for NEM:

1. Mining farms are presented as complex and very costly resources, but the efficiency in this case will be maximum. The payback is fast and if you invest with a long-term perspective, this method is great. The disadvantage is the lack of instant income.
2. An easier way is to use capacities. Powerful video cards in combination with the appropriate software allow you to detect blocks. Income in this case is regular, fast, but small. However, the creation of capacities does not require spending large sums and this is the main advantage.

The legalization of the electronic currency market will negatively affect the growth in the value of NEM in the near future, but the United States and China are not yet striving for legalization. In any case, the currency in question will develop, since these processes in the market are temporary.

Hello friends, today we have prepared an article for you in which we will try to tell you about the wallet for storing the NEM cryptocurrency. We chose this topic because there are plenty of places to store bitcoin, ether, litecoin and other popular cryptocurrencies, and with XEM coins everything is a little more complicated.

Types of wallets forNEM

There is a lot of information about the NEM cryptocurrency on the Internet, but not much has been said about the places to save it. The thing is that this cryptocurrency is not supported by the multicurrency wallets familiar to us:, and. The question arises: where to store it? We do not understand why NEM developers do not want their coins to be on other resources, but there are probably reasons for this.

NEM cryptocurrency can be stored in two ways: on the exchange and on the wallet. The most common option is storage on the exchange. Most likely, this is due to the reluctance of users to install additional programs on their computer. But, today, we decided to show you how to create and use a NEM wallet.

Wallet overview forNEM

In order to go to the wallet overview, you need to go to the official website of the cryptocurrency - nem.io, and find the "Download" section in the footer of the site, or follow the link. By going to this section, you will need to download the installation file for the wallet. The developers made sure that there were versions for all types of operating systems. In our case, we will download the file for Windows.

After clicking on the button, the file will start downloading. It is important to note that the file is quite "heavy" and occupies 91 MB. After opening the downloaded folder, you need to find the NanoWallet.exe file and run it. Congratulations, the installation has begun. The next stage of working with the wallet will be the launch of its window.

Wallet registrationNEM

To start registration, you, oddly enough, need to click on the "Registration" button in the upper right corner of the window. This will be followed by a choice between wallet versions: Simple and version with a private key. In our example, we will set up a simple wallet.

After choosing a wallet version, the next step is choosing a network. From the proposed list, you will need to select the Mainnet network - this is the real NEM network. Then click on Next, and come up with a name for the wallet, and then Next again.

The installation is so simple and intuitive that we got bored of describing these processes. Password generation is the next task you need to handle. Recall that the password must consist of letters and numbers, the use of capital letters is optional.

The final stage of this process will be the transition to creating a wallet, for this, you must give the go-ahead to the program and click "Start".

The installation process will not be very fast, so you can safely go to the kitchen for a bite to eat or watch YouTube videos.

How to install a walletNEM

After the installation is complete, you need to download the wallet file.

After you download the wallet file, you will need to click on “I have my wallet file”, and proceed to the next step - fixing the private key. You can see it after clicking on the inscription “Show private Key”. Once you overwrite this key and hide it, click on "I have my private Key". In the new window press "I agree".

How to send coins from wallet

All wallet functionality is presented on the top panel of the resource.

The most important menu item will be the “Send” item, next to which is an airplane. After you click on this inscription, a window will open in front of you.

To send funds, you just need to fill in all the fields provided. We will not describe each item separately, because thanks to the Russian-language functionality, everything is clear and accessible.

(XEM) is a decentralized peer-to-peer cryptocurrency and blockchain platform that was launched in March 2015. It has since become one of the top 10 cryptocurrencies with a market capitalization of over $5 billion (at the time of this writing).

There are 9 billion XEM coins in circulation, all of which were created before launch. NEM is written in Java and it was built from the ground up to solve the problems that many cryptocurrencies face today (such as ease of use, speed, and scalability).

Top 3 NEM Chips

1. Proof of importance

NEM has introduced a new feature for blockchain technology called Proof of Importance (POI). This is somewhat similar to proof of stake, but it includes more variables. Thanks to NEM POI, we see the following picture, the more coins a user has, the more transactions they make - the more valuable they are. This strategy encourages the active use of XEM coins, and not just their storage in wallets.

2. Harvesting

Instead of mining, NEM uses a feature called harvesting. This method does not require special equipment, but you need at least 10,000 XEM coins to start harvesting. Anyone who manages Supernodes (see below) and processes transactions gets paid to process payments on the network.

The main advantage of harvesting is that this method uses much less electricity than conventional mining, which means lower transaction fees. Thus, we conclude that NEM is a much more energy efficient cryptocurrency compared to (BTC).

3. Supernode program

The supernode program rewards people who work with active nodes. High-performance nodes help secure the network. Those who reach the required parameters in terms of throughput, chain size, ping and speed are rewarded in random order. However, in order to access the Supernode Program, you must have at least 3 million XEM.

Step 1: Choose a NEM wallet

If, after reading this article and seeing the great prospects of NEM, you decide to invest, then you probably want to find a reliable NEM wallet to store your XEM coins. The alternative is to store your coins on exchanges. Unless you plan on trading daily, I strongly advise against storing your coins on exchanges for security reasons.

Unfortunately, when it comes to wallets that support NEM, we don't really have much of an option. The only real option is the NEM Nano Wallet, which is a desktop wallet compatible with Windows, Mac and Linux.

There is also a NEM mobile wallet that can be downloaded via the Android or iPhone apps. But a desktop wallet is generally considered the best option. Therefore, the NEM mobile wallet received mixed reviews, some of them mentioning bugs and constant crashes.

7 Easy Steps to Install NEM Nano Wallet

And now, let's look at the step-by-step instructions for installing the NEM Nano wallet:

Home Nem Nano Wallet

1. Go ahead and select the appropriate wallet version: Windows, Mac or Linux.
2. Download the wallet and open it. Then you will see the interface. Click "Sign Up" (register).
3. You will see several types of wallets: Simple Wallet, Brain Wallet and Private Key Wallet. I recommend choosing Simple Wallet.
4. Enter your wallet name. In the "Select a Network" section, keep the default "Main net" option. Then come up with a strong password.
5. Click "Create Simple Wallet". Your wallet will then be saved as a .wlt file containing your private key.
6. After downloading the .wlt file, you will see an Account Security Warning pop-up. Be sure to read the information and make sure that your wallet files, personal key and password have loaded. It is highly recommended that you save your private key somewhere else in a safe place. Then click "I agree" (I agree).
7. Congratulations! You are now on the login page. Select the newly installed wallet and enter your password. Click Sign In. Now you see the main interface of the wallet and you can start working!

Main interface of Nem Nano Wallet

Step 2: Buy NEM

Now that your wallet is fully set up, it's time to buy XEM coins. Here are some interesting options available to us:

We buy NEM on the exchange for fiat money

This procedure can be executed on a very limited number of exchanges. For example, Exrates (XEM/USD pair) and LiteBit.eu (XEM/EUR pair).

Such a purchase can be made on the giants of the crypto-exchange industry. For example, on , or HitBTC. When buying XEM on the Bittrex exchange, an exchange for (ETH) is also available. In fact, at the moment this is the most profitable option.

We buy BTC, and transfer to another exchange that supports XEM

The last option is to buy bitcoins on one exchange that does not trade NEM (Coinbase, or Gemini). Then transfer them to another exchange that supports NEM and exchange them.

Buying NEM with Changelly

Another way is to buy BTC on any exchange of your choice, then exchange it for XEM using . This service is unique in itself, as it does not require any verification.

Service Changelly

You just need to register using your mail and you can start exchanging bitcoins or any other crypto for NEM in 30 minutes.

Conclusion

NEM is a very transparent and well tracked cryptocurrency. But, in comparison with bitcoin, this cryptocurrency is not well secured with privacy. Although not progressive, NEM is a very functional coin. The fact that this cryptocurrency is among the top 10 cryptocurrencies indicates its functionality. Even though there are not many NEM wallets, the NEM Nano wallet works well. It is very easy to buy NEM as the XEM/BTC pair is available on many .

Future for NEM?

Do you already have NEM? I look forward to your comments.

Do you want to earn on crypto? Subscribe to ours!

NEM is a platform built on blockchain technology. Nem is the number one cryptocurrency in Asian countries and one of the top 25 cryptocurrencies in the world, so you should take care about the security of storing xem in NanoWallet.

It is not recommended to store cryptocurrency on the exchange unless you are a trader. You should be very careful when using mobile wallets and keep the amount you are going to spend there. The most reliable storage is the Nanowallet wallet. installed on the computer.

Nanowallet "Brain/Smart" or "Simple/Simple"

Here we will analyze why it is better to do so in order to save your XEM.

simple wallet , simple wallet - the private key of the main account in the wallet is randomly generated, out of your control, different every time, even if the password for the wallet is the same. This is the most versatile and most secure way to create a wallet, as it requires the use of a wallet file and password ( the presence of a .wlt file is an additional security element besides the password ). A regular wallet is suitable for most cases. In the future, to access the wallet, you will need: wallet password and wallet file. Recommended password from 50 characters (special characters, upper/lower case)

brain wallet, To log into this wallet (via Sign Up > Brain wallet) you only need its password; the wlt file is not needed, which is the main feature of the Brain wallet.

Login via Login. In this case, you will need his password and the wlt.

There are two options for entering the Brain wallet.

In the case of a brain wallet, it is necessary to securely store: his password and private key the main wallet account; wlt file saved only if you are supposed to enter the Brain wallet via Login. In critical cases, the brain wallet passphrase can be kept in mind and will be enough to access your funds.

Any Brain wallet of any coins is attacked.

1. Before installing Nanowallet, make sure that your computer is free of viruses and trojans. Scan your PC with antivirus programs and programs Malwarebytes

2. Use the program to store and generate passwords 1password

1password may seem difficult to use at first glance, but it is very useful and allows you to not only generate passwords, but also store data securely when used correctly.

4. Unpack the downloaded archive to any place on the computer and launch the wallet.

5. To create a new account in the upper right corner, select "Registration". Next, there are three types of wallets to choose from.

5.1 Simple wallet or Simple wallet.

When creating a Simple wallet, a wallet file with *.wlt extension is generated. You are immediately prompted to save this file. It is IMPORTANT to save the *.wlt file in a safe place, preferably on a flash drive. It is advisable to duplicate it on several media, access to which only you will have. The wallet file contains a private key encrypted with a password. To transfer a "simple wallet" to another computer, you will need this file and password, unlike a "smart wallet" or Brain wallet.

5.3 After entering Nanowallet, we look at the network connection. The "Node" indicator in the upper right corner should be green. If the indicator is red, then you need to select another node.

Wallet address and backup.

In order to view your wallet information and / or make a backup (if you suddenly did not do this at the creation stage), just go to Nanowallet and go to the "Account" tab. The address of your wallet will be displayed on the left, and on the right you can see the private key and make a copy of the wallet file.

Nanowallet is running on your computer. But what happens if his hard drive fails? In this case, you need to have a backup copy (backup) of the wallet made in advance.

Save your wallet file on different drives, such as USB flash drive, USB hard drive. We recommend that you encrypt the file, for example with a tool such as truecrypt, before storing it on secondary media, and especially in cloud storage.

Every time you add a new account to the wallet, you need to make a backup copy of the wallet.

IMPORTANT: wlt wallet file is useless without password.

Reminder: the private key gives you full control over your account.

Forgot password and lost private key = lost funds.

The operating system is recommended (Mac OS, Linux), it is also desirable to install the nanowallet wallet on a USB flash drive.

Not all users can risk their important data and keep it online or on a laptop. A USB drive in this case is an important solution for backing up everything you need. For those who are worried about theft or loss, manufacturers have released a number of models with protective mechanisms.

There are several features here:

1. You can buy a regular 16 GB flash drive and encrypt it using 256 bit encryption, when you insert it into your laptop it will require a password (which you will store in the 1password program, written above)

2. Buy a flash drive that will encrypt the flash drive at the software level DataTraveler2000

2.1 There are Biometric flash drives.

Advantages of a flash drive with a scanner

• Reliability. The fingerprint is unparalleled, which means that without your personal presence, no one will be able to access the information.
• Multifunctionality. The presence of several departments of memory (public and secret) allows you to sort and place data at your own discretion.

We prepared the USB flash drive for work, make a backup copy on the second USB flash drive.

The NEM (XEM) cryptocurrency is a multifunctional platform that provides not only fast transactions, but also allows you to integrate the network into various projects. The versatility and complete transparency of user actions attracts the attention of many investors. In order to store coins, you need a suitable nem wallet.

Desktop clients

Special programs that are installed on a PC have a high level of security, so developers recommend this method for placing digital currency. It does not provide access to data by a third party. The focus should be on private key management. Unfortunately, none of the multi-currency crypto wallets of this type yet supports XEM.

NEM Nano Wallet

A “lightweight” application for a computer that does not require downloading the entire blockchain and lengthy synchronization. Installation is possible on all major operating systems of the latest generations (OSX, Windows, Linux). The best wallet suitable for investors who are not going to set up supernodes to process new blocks of the network. The description of the products is on the official website, where you can download the client itself. There are two different options for creating a local nem wallet.

simple wallet

It is a more reliable way, therefore it is recommended by users. In addition to the private key, you must create a complex password yourself, which further improves security. Each visit times a new random private key is generated. It is desirable to immediately transfer the .wlt file to another (or several) offline media, it is necessary to restore access and is an additional means of protection.

Brain wallet

Allows you to log in in two ways with and without a private key, but in any case with a password. This significantly reduces the degree of security, so it can be attacked and is not recommended.

There are no problems with how to install the nem wallet. In the process, you will need to register a new user or access existing funds. The developers are planning a full transition to NEM Nano Wallet, so the following are available:

• multi-user accounts;
• Russian language;
• subdomains and mosaic;
• unique notarization service;
• the ability to import data from NCC Wallet;
• integration with Trezor.

An alternative could be NEM Node, which is designed for mining by creating supernodes. Details on how to open and work with this nem wallet can be found on the developers website.

Online Services

Unfortunately, web services for remote storage of cryptocurrencies are not yet available. The only alternative would be trading accounts where you can buy XEM coins. But they should be used for temporary savings or active trading. For storage, it is advisable to use a cold wallet for nem.

Mobile applications

The use of mobile devices is considered a "hot" way to save money. Since there is a regular connection to the Internet and third party access to information. In this case, private keys are located on the equipment itself. The ability to quickly access and additional protection make applications very popular. Apps can be downloaded from the App Store for iOS and Google Play for Android. As in the desktop version, in a special tab, you can find out your personal address.

NEM Wallet

The official nem xem wallet from the developers, which is suitable for placing only one cryptocurrency. Allows you to carry out basic operations, monitor the balance. Additional ways to improve the security of the application are available, XEM Harvesting details, address book. A user-friendly interface that is easy to work with on an intuitive level. Communication can be carried out both by regular and encrypted messages.

Coinomi

Multi-currency Russified nem wallet, registration of which takes only a few minutes. The product is quite popular among users due to the support for more than 100 virtual currencies and 200 ether-based tokens, nice design, and ease of use. In addition to basic functions, it is possible to convert cryptocurrencies in the application itself. You can create a backup for recovery.

Hardware wallets

To ensure the maximum level of cryptocurrency security, special physical drives have been developed. They are convenient and easy to use, have a compact size. Their small screen allows you to view the balance, confirm transfers. Support for dozens of digital currencies, along with protection from malware and third-party access, make them a miniature Swiss bank.

Trezor

So far, it is the only hardware wallet for nem, but it is not inferior in quality and reliability to other similar devices.