How to Buy NEM ($XEM) Online

NEM is a blockchain protocol developed in Singapore in 2015, which aims to be a fast and robust payment system. In this post, I will explain what NEM is, review its differences with other cryptocurrencies and also explain how you can buy its coin, XEM, Online.What is NEM in a nutshell? NEM, which stands for New Economy Movement, is a decentralized peer-to-peer cryptocurrency and blockchain platform that launched in March 2015 in Singapore.There are 9 billion XEM coins in circulation, all of which were created and distributed to 1,500 people prior to launch.NEM is written in Java, and was built from the ground up, to address issues facing many cryptocurrencies today (such as ease of use, speed and scalability).NEM can process 3000 transactions per second. Since all XEM coins have already been distributed, there is no way to earn New XEM aside from buying it or earning it by becoming a harvester or supernodeHow to Buy NEM in 3 stepsStep 1-Obtain a NEM PortfolioIf you have decided that NEM is the right investment for you, you will almost certainly want a NEM wallet to keep your XEM coins safe. The alternative is to keep your coins on exchanges. Unless you are planning on day trading, I strongly advise against storing your coins on exchanges for security reasons.Unfortunately, when it comes to NEM wallets, you don’t have a plethora of options. The only official option is the NEM official wallet, a desktop Wallet that is compatible with Windows, Mac and Linux. There is an official NEM Wallet available on Windows, Mac and Linux, as well as a mobile version for Android and iOS. A few alternatives also exist, including:Raccoon Wallet-a community-developed NEM wallet available for iOS, available in English and Japanese.Exodus – a great desktop and mobile wallet For Windows, Mac, Linux, Android and iOS. Exodus is super easy to use and also allows you to store other types of cryptocurrencies besides NEM. You can read my full review of Exodus here.Coinomi: a popular mobile wallet for Android and iOS that can hold over 1770 different cryptoassets. Coinomi has also released a desktop version of its wallet, so it is available for Windows, Mac and Linux as well. You can read my full review of Coinomi here.TREZOR: a popular hardware wallet that supports over 1000 cryptoassets, including NEM. You can read my full review of TREZOR Model T here.So Now you can locate your NEM address.Step 2-Find a XEM exchange.Now that your NEM wallet is set up, it’s time to buy your XEM coins. There are not many ways to buy NEM directly with fiat currencies (i.e. dollars, Euros, etc.). However, there are still some options available to buy NEM:Buy XEM with fiat currency on Indacoin or Changelly.You can buy XEM directly with fiat currency on Indacoin, which is also available through Changelly. Simply visit Indacoin or Changelly and select XEM from the “I want to buy” drop-down menu.Buy BTC and exchange it for XEM on the same platform.You can buy Bitcoin on exchanges like Binance, Bittrex or HitBTC. You can then exchange that BTC for XEM on the same exchange. In the case of Bittrex, you can also exchange Ethereum (ETH) for XEM. This is probably the best option available at the moment.Step 3-withdraw your XEMOnce you’ve purchased your XEM, don’t forget to withdraw them from the exchange into your wallet. This is important so that you have full control over your coins.Final ThoughtsWhile this is a very simple step, many people tend to forget about it. The time it takes to receive a confirmation from NEM is quite short: about a minute. So the whole process of moving the coins out of the exchange shouldn’t take that long.After the XEM coins appear in your wallet, you have successfully completed the XEM purchase process.Although not revolutionary, NEM is certainly a very functional coin.