NEM cryptocurrency is a relatively new mining service that has gained popularity in Japan and the Asian region. XEM cryptocurrency is based on the NEM blockchain. In summer 2016, XEM demonstrated record growth on the exchange, its rate increased by 37 times.
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NEM (XEM) Cryptocurrency Explained
This digital currency became famous in early 2015. It differs from many other cryptocurrencies in its original open-source code and a number of innovations. For example, XEM cryptocurrency is based on the POI (Proof Of Importance) algorithm, which is a modification of Proof Of Stake. However, in contrast to PoS, the POI also takes into account the user’s activity, the number of transactions performed by them. A block reward on the NEM network is called harvesting.
NEM is a Smart Asset blockchain. It’s more than a cryptocurrency because it is also a data management platform. It is the easiest and most cost-effective way to bring blockchain technology to any business.
NEM or the New Economy Movement is a community-oriented cryptocurrency. NEM was originally launched as a fork of Nxt. However, its creators eventually coded an entirely new platform from scratch. The alpha version of the project was launched on June 25, 2014, and the first stable release took place on March 31, 2015.
4 Best NEM (XEM) Coin Wallets
#1. NEM Nano Wallet
In the process of choosing a wallet for working with the NEM coin, users rely on the reliability, easy use, and user-friendly interface. If you already have XEM coins, then the NEM Nano Wallet is the best option. First of all, this is the official wallet from developers. It is not a web wallet, so you have to download the app to your PC or smartphone.
You can work with the NEM Nano Wallet using the following operating systems:
There is also a mobile Android and iPhone versions.
#2. NEM (XEM) Mobile Wallet
Nem (XEM) Mobile Wallet is available for Android and iOS users. The main advantages are a pretty simple interface, fast transactions, and multi-signature availability. You can be sure that your private keys will be stored in your device securely.
Developers highlight that it is easier to send and receive XEM and use QR codes. It is even faster and easier than a desktop client. The NEM (XEM) Mobile Wallet app is free for everyone.
#3. Exodus Wallet
Exodus is an anonymous multi-cryptocurrency HD wallet which is great for storing and performing operations with virtual coins. The desktop application is available for Linux, Windows, and macOS. There is also a mobile app for iOS and Android.
The crypto wallet supports the most liquid and popular coins. At the beginning of 2020, Exodus wallet supports over 100 cryptocurrencies such as NEM, Bitcoin, Etherium, Bitcoin Cash, Litecoin, Tron, Dash, Binance coin, Etherium Classic, EOS, Zcash, etc.
Exodus is an ideal wallet for beginners, as it has a user-friendly interface that makes it simple to use.
The app allows you to export private keys that are created locally and upload them. In addition, the Exodus wallet has a built-in cryptocurrency exchanger for converting coins.
#4. Trezor wallet
Trezor is a hardware wallet that allows you to store cryptocurrency. The wallet provides increased security for processing transactions with bitcoin and other cryptocurrencies. Unlike traditional cold storage methods (offline storage or a paper wallet), Trezor can make secure payments without transferring private keys through potentially dangerous computers or mobile devices.
Trezor is essentially a miniature computer consisting of a single chip. It is designed to protect your personal keys from possible online and offline risks. This wallet stores the private keys and confirms the transaction out-of-network (in the device).
You can always make sure that the address and transaction amount are correct on the screen of the device itself before sending your cryptocurrency. You can connect Trezor even to an infected computer and still be able to manage the funds safely.
Taking everything into consideration, we have a wide range of NEM (XEM) wallets. Make sure you explore every detail before selecting the one you liked.