What is NEM ?

Overview of NEM

NEM is the name of the solution platform with the function of encryption currency started operation in March 2015. The currency code “XEM” used in the platform called NEM is traded as virtual currency. NEM is an acronym for “New Economy Movement” which stands for the phrase “new economic movement”.

Features of NEM

NEM is issued currency with a mechanism called POI (Proof of Importance). It does not issue currency according to the amount of data processed by computer power like bit coin mining (mining). In POI, currency is issued according to “holding amount and trading volume” of currency called harvesting (harvesting). By adopting POI, NEM aims to be popularized as “low cost and high liquidity” currency.

How to purchase NEM

To purchase NEM, it is necessary to open an account (account) with “exchange” which provides NEM’s transaction service for the first time. After that, I will purchase NEM by depositing money into my account by bank transfer etc. method. There are Zaif and Coincheck exchanges in Japan that can purchase NEM.

NEM’s Exchange

Ziff has a service called “Zaif coin reserve”, you can purchase NEM by automatically withdrawing a fixed amount monthly from your bank account. It is a service suitable for those who invest in NEM for risk reduction and long-term investment and stable earnings. In addition, there is “Rental virtual currency service” for coin check, there is service which can obtain usage fee of 5% maximum annual rate by lending NEM purchased.

Investment of NEM

When NEM was released in March 2015, 8,999,999,999 XEM of the total issue volume has already been issued. Then, until February 2017 XEM will continue to have a low price of less than 1 yen. However, prices started to rise with jiwiwa around March and will rise rapidly to over 35 yen in May. It fell a little in June and is trading at around 20 to 25 yen. Currently, many people who have invested in NEM feel that they are attracted to the price and are holding a lot in large numbers.

To put it in extreme terms, we are investing in expectation that the price of NEM will be ten times higher than the price of bit coin doubling. There are great things in NEM’s thought and technology, I think that it is a currency pursuing the ideal of the virtual currency. Therefore, investment in NEM can be said to be an investment bet on the growth of the virtual currency in the future.