NEM – new movement, new blood
Crypto technologies are now having really a nice time – more and more people are interested; more and more traders come, invest and sell. Undoubtedly it's the best time for new cryptocurrencies to enter the market.
NEM is a relatively new cryptocurrency widely announced in summer 2016 – it was available before, but no one actually knew about it. At the same time a year of successful operation together with impressive growth from $0.005 to $0.27 made NEM much more popular. What's more, the latest trend is very optimistic and investors keep adding NEM to their portfolio. So what is New Economy Movement (NEM) is about?
Reasons to buy
Why could one be interested in NEM when there are so many cryptocurrencies which look much more successful and have longer history? Original open source is probably the first and the most significant advantage. It allowed to develop many useful innovations which certainly make the use of NEM more convenient.
Another big advantage for long term investments is NEM capitalization – actually, this cryptocurrency is in top-10 world cryptocurrencies by capitalization. Such a breakthrough was achieved due to outstandingly fast growth in 2016. Even correction and slight decrease in 2017 did not change the situation. Traders still trust NEM and invest.
Capitalization nowadays is probably the main characteristic to consider. Even if there is a real boom around some new cryptocurrency it's worth taking a look at its capitalization. Big capitalization means that the coin is not just popular – it is also stable and resistant to market turbulence.
NEM is not as popular as, let's say, Litecoin and other altcoins. At least, people who are new to all that crypto stuff hardly know a lot about NEM. What advantages may be gained when buying a non-mainstream currency? The hope that once it will become a mainstream coin! It would be the most positive scenario making it very easy to earn good money on selling coins.
Anyway, even if NEM remains where it is investing in this currency is a solution worth considering in long-term. Now NEM/USD exchange rate is somewhere around $0.27 with small fluctuations visible on chart every day. So we suppose that NEM is not a good way to earn money fast, but if you are ready to wait for few months or for a year – why not? After rapid growth there was steep fall, and now there is rather good probability of moderate growth again.
How to obtain NEM
As any other cryptocurrency New Economy Movement can be obtained by either mining or by purchasing it on an exchange service. Mining of NEM today doesn't make much sense because of too high costs. It is already impossible to mine NEM coins alone – independent mining will bring too slow results. If you want to earn, you need to have a good and modern farm with dozens of devices there. Original software is needed too.
Moreover, your farm needs to be connected to a powerful pool which includes a lot of other mining farms. It means that even having a big farm you still have quite little chance to mine enough coins – the investments in this case will hardly ever payout.
Good news is that with a big pool you can mine enough NEM coins. It is not a fast process – no, you will have to wait for a while before you gain something for a new unique block found. NEM mining should be considered only if you are going to make NEM one of your main investments. Only in this case it is reasonable to buy equipment and to join a pool of other miners. Without a doubt, in the long run it will pay out.
There are still users who try to mine NEM with single PC equipped with a new graphic card. Actually, you do not mine alone – you still have to create an account in a pool of such miners who use PCs but not farms. Let's be honest – it is not a way to earn anything. Maybe a school boy could be happy with $20-$30 per month, but from the point of investments it is just a waste of time.
Finally, you can purchase NEM coins on any big online exchange or right from the official website – nem.io. The official website will be necessary anyway, because to store coins (mined or bought) you need to have a NEM wallet which can be downloaded on www.nem.io. NEM Nanowallet is a very easy-to-use application where you will create a new wallet in no time.
There are three times of wallets available and the app will ask which type you would like to create. Simple wallet is just simple – nothing to add. Smart wallet and Private key wallet have better protection from hacking attempts. Please read more on NEM official website. We'd like to note though, that all three wallet types are completely secure. NEM is known for incredible security. There have never happened any situations when somebody stole others' coins.
Please make sure that you keep login information and your personal wallet key in a secure place – it is the only requirement. Typically it's impossible to steal money from someone's electronic wallet if he or she keeps the important data in a safe place.
Unfortunately, there is not much information about NEM online. We still lack some history of NEM and the people who developed it. But does this matter? Not really. It is enough to see that New Economic Movement is a developing coin which managed to survive a dramatic fall which is absolutely typical after such a growth.
Recently NEN/USD exchange rate remains stable. It looks like the pendulum does not yet where to rock and investors from all around the world are to determine it.
NEM is not very popular among jobbers. According to our observations New Economic Movement coins are usually obtained for long term investments. Those who buy and sell quickly prefer BTC, LTC and other coins that are familiar to everybody including people having no idea how cryptocurrency actually works.
To conclude, NEM can be a good additional investment for portfolio diversification. It's hard to expect that NEM coins in your e-wallet will bring you a fortune soon, but these can help you increase your savings for sure.
NEM can become your insurance in case if you also invest into risky assets with unclear future.