Nem is the seventh largest cryptocurrency but it is also terribly underrated outside of crypto circles. Although the currency’s name is NEM, it trades under the symbol XEM. What does NEM do? NEM takes what Bitcoin is doing for payments and applies to all technological infrastructures. It is very similar to the work that Ethereum is doing with smart contracts apart from the fact thea NEM bills its features as smart assets. Some of these are: Health records, supply chains, notarizations, stock ownership, royalty payments, legal records, loans and inspections.
Some businesses have already adopted NEM and there are some intriguing aspects to NEM such as its API interface. NEM is almost four years old and it is already a highly profitable investment. NEM has been rising and falling sharply in its journey proving to investors that the ride will not be smooth. Cryptocurrencies are experimental and there is always the risk of failure in every experiment. You might see days of 5%, 10% or even 15% movements, and not always in the positive. Despite these falls, NEM is trending upwards. There is an opportunity to make significant returns from the XEM coin if you are prepared to ride out the rough periods.
Notwithstanding this, NEM has made a lot of investors rich in the last 10 months. It is ten time more efficient than Bitcoin, based on upkeep costs. It has more use-cases than Bitcoin. It is user-friendly for non-crypto programmers. It is still relatively unknown. NEM faces regulatory uncertainty contagion from other crypto assets, and a potential lack of liquidity. However, none of these issues appear permanent.
If you are interested in buying XEM be aware that they are not that easy to get your hands on unlike Bitcoin and Ethereum. There are a few of fiat-to-XEM exchanges but they are plagued by low trading volumes. You could also buy Bitcoin or Ethereum first and then trade those for XEM coins. However, NEM (XEM) looks set to outperform Bitcoin and its imitators.
NEM is not a fork of Bitcoin. NEM is a fixed supply of 9 billion and was built from scratch in 2014 to address all the issues cryptos face today. These include scalability, ease of use, energy consumption, governance, incentive to use, and avoiding centralization and consolidation of power by miners etc. and governments who become involved. The New Economy Movement provides much more than just a currency called NEM.