What is a NEM Exchange?
In order to use the NEM platform, you have to acquire NEM’s currency, XEM. To get your hands on this coin, you need to go to a NEM exchange. A NEM exchange is an online platform that enables you to buy units of XEM. You can either your fiat money or your non-XEM digital assets. The exchange also allows you to sell your coins or trade them for fiat money or for other cryptocurrencies.
Finding a NEM exchange is not that difficult anymore. There are various exchanges that now support the growing XEM, especially now that more crypto users consider switching to NEM. Find out the different ways you can buy XEM below.
How Can You Buy XEM?
There are two ways through which you can have your own XEM. You can buy directly from an exchange or buy BTC first then convert it to XEM. If you want the easiest way, you should directly go to a NEM exchange. Register, choose the amount, and make a purchase. It will not take hours before you can receive and use the crypto coin.
Meanwhile, if you choose the second option, you need to find a Bitcoin exchange first. Next, buy Bitcoin (BTC), and then go to a crypto coin converter, like Currenxy, to convert your BTC to XEM. This process takes more time, but if you now have bitcoins, then all you have to do is look for a cryptocurrency converter.
Just make sure that whichever way of acquiring XEM you choose, you will select an exchange that is credible. This is to avoid illegal exchanges or exchanges that just plan on stealing your funds. You can read exchange reviews or you can check out the list of NEM exchanges below.
What are the Top Exchanges that Allow You to Trade XEM?
NEM has gained popularity since it was launched; that is why more exchanges now support this altcoin. But you should research about the exchange first before you register to avoid theft. Here is the list of the top five exchanges in terms of number of users:
This is a US-based digital asset exchange that is known for its strong security features. These features help the exchange store your account in an offline cold storage, do a 24/7 monitoring, and detect suspicious transactions to avoid theft.
This crypto exchange is known for its fast trade execution. Traders around the world go to this exchange for its algorithmic trading which provides the best and secured trading experience. Also, the exchange offers over 190 cryptocurrencies.
With a user-friendly and plain interface, Hitbtc caters mostly to beginners. The exchange is also popular for its low cost fees of 0.1% for every trade.
Supporting over 400 cryptocurrencies for users to buy, sell, trade, and convert, Cryptopia lets you trade fiat currencies as well. You also have a chance to sell your items through auction or listing in which these will be free of charge.
This exchange promotes its full trade page that lets you see the list of all currencies supported without scrolling. It also has an API in BTC-e format that provides faster trading. For entertainment, the exchange also has lottery and dice.
Investing in NEM means acquiring XEM coins which can be done in either of these two ways—buying directly from an exchange or buying BTC first then converting it to XEM. Both of these options require you to register with a NEM exchange or a crypto exchange. By turning to any of the exchanges above, you can have your XEM coins in no time.