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NEM stands for New Economy Movement, and it is a blockchain that has been steadily gaining popularity recently. XEM is the cryptocurrency that powers this new blockchain and considering the popularity of industry giants, such as Bitcoin, it has been slowly making a name for itself.
Cryptocurrency traders who are more concerned about the bigger picture regarding the future of the Metaverse find NEM to be a suitable blockchain to invest in, due to its focus on becoming a smarter and more technologically advanced platform.
To gain access to the NEM blockchain, you need XEM coins, and this article will focus on the best ways for you to trade XEM online, as well as provide relevant information about the cryptocurrency.
Table of Contents
XEM Tokenomics
The true value of a particular cryptocurrency lies in the services it can offer to its investors, and the same rule applies to XEM tokens. Lucky, for example, offers its users the chance to win regular jackpots. What does XEM have to offer its investors to make it the preferred option?
As mentioned before, one of the main things that attract users to the NEM blockchain is its focus on technological advancement and improvement of how crypto platforms operate in general.
While this is good enough to bring investors to the platform, it is not the only thing that determines the value of XEM coins. The developers of NEM decided to support the value of their XEM currency by choosing to mint a limited number of XEM coins for circulation.
There are only 9 billion XEM in circulation, and because no new coins will ever be minted, the value of the NEM blockchain will continue to increase as XEM becomes more and more scarce.
This form of limited supply is one of the many variables used by developers in tokenomics to control the value of their cryptocurrency, and so far it has helped XEM to do very well on the online currency exchange platform.
Currently, NEM is operating at 14% of XEM supply circulation, and this number has to increase for the blockchain to become more stable and decentralized. However, recent growth figures suggest that XEM is increasing in popularity and will soon reach the required levels to maintain NEM stability.
Where to Trade XEM?
Potential NEM investors need to know how to trade XEM, the coin that will allow them access to the blockchain platform. There are a variety of ways through which you can purchase XEM, and which method you choose depends on individual preferences, your location, and the type of payment option that you can use.
There are a few good options to choose from, and these are:
- Through a compatible exchange platform
- Using XEM ATMs
- Via mainstream brokerages
- Through P2P exchanges
How To Trade XEM Using PayPal?
Not all Exchange platforms accept PayPal as a preferred method of payment, but luckily, Binance does.
You can simply use the Crypto trade option that is available on the main PayPal webpage and it will help you to navigate through the straightforward process that allows you to access your Binance account and make the required deposit.
How To Trade XEM Using a Credit Card?
Another popular method that is also compatible with platforms, such as Binance is using a credit card. It has a lot of the same security features that are found in all regular banking systems. This means for people who are new to online trading, the credit card option provides a more familiar payment method.
The disadvantage of using a credit card is that it allows the user to use a lot more money than they might have in their account, so there is a significant risk of going over your budget.
Safe Storage
The large amounts of money that are invested in the NEM blockchain mean that security is a very important concern. Luckily, the exchange has top-of-the-range security features that are backed up by SSL encryption software.
This makes it very difficult for hackers to gain access to your account. However, the easiest way for online predators to hack your wallet is through you. Do not share your login details and password with anyone under any circumstances. You should also make sure that you set a strong password that is not easy to guess.
Alternate Ways To Trade XEM
If you would rather use an alternative way to trade XEM besides using an online currency exchange platform, such as Binance, there are other options available. The following are all possible ways through which you can easily make your XEM purchases:
How To Invest in XEM?
Other ways might be more effective, such as stacking. This is a basic reward platform for those who dedicate their time and effort to discovering new NEM blockchains. Stacking is discussed in detail below:
Those who wish to buy XEM using ATM facilities can easily do so thanks to the 30,000 crypto ATMs that are distributed in 78 countries around the world. Although this process is not complicated, we would not recommend that you use it for security reasons.
By using an ATM you expose yourself to being the next victim of thieves and hackers who specialize in stealing from ATM users. However, if you insist on using an ATM, there are websites you can use that will help you locate compatible ATMs, but we strongly advise against this option.
Another popular way of buying XEM is directly from another investor who already has the coins and wishes to trade them for other forms of cryptocurrency. To make this easier, various trading platforms offer P2P exchanges, and some of them are discussed below.
A lot of mainstream brokers give their users the option to easily buy crypto on their platforms, which means this is a great way to purchase XEM coins. However, not all brokerages are the same.
Capital.com has proven to be the best option for buying XEM, but to help you choose, look through the following table for different options:
Conclusion
The platform has been steadily gaining momentum and it seems that it will be very stable and secure soon.
Its focus on becoming a smarter and more technologically advanced platform gives it a lot of advantages over similar platforms, making it a great investment opportunity
WeInvests is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.
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