What is NEM and how to exchange Bitcoin to NEM?

best exchange to convert nem

In this guide, you will learn how to find the best NEM exchange rate and how to convert BTC to XEM coin on Swapzone crypto exchange aggregator.

Having launched in the year 2015, the original aim behind NEM was not just it being a cryptocurrency or a platform for building applications. It was projected to be something bigger than that. Here a number of questions arise regarding NEM vs Bitcoin and especially regarding NEM coin exchange and NEM exchange rate. We shall get into the details in the upcoming sections of the article but for that, we first need to know what NEM coin is? It is a rather unknown term but it has a promising future ahead of it. We will further look into its main features in this article.

What is NEM?

NEM now stands at a staggering net worth of $2 million as a foundation with its native currency being XEM. Upon the launching of XEM, it was supposed to be a fork of the already existing cryptocurrency, NXT. However, before getting into the necessary details, the team decided to give NEM a separate codebase of its own. This makes NEM unique and exquisite in its ways. With its distinctive nature and identification, NEM was set to make a strong entry into the market.

Without getting into further detail, we must first know the full form of NEM; it is an abbreviation for New Economy Movement. Like other cryptocurrencies, NEM also serves the dual purpose of being a cryptocurrency and a platform on which applications are created. What differentiates it from other cryptocurrencies is that it aims at revolutionizing certain areas. Amongst them the most prominent ones are:

  1. Crowdfunding;
  2. Legal and health records;
  3. Smart contracts;
  4. Royalties;
  5. Allowing ICOs to launch.

The advantages of NEM (XEM)

There are a number of benefits attached to the use of NEM. Some of them are mentioned below:

  1. This particular blockchain has come up with a new domain name system known as “namespace”. What happens is that different and unique names and subdomains can always be created for businesses.
  2. The use of the PoI algorithm is what differentiates most cryptocurrencies from NEM. The majority of cryptocurrencies use the PoW algorithm in which everything is totally dependent on the hardware mining abilities. In the case of NEM however, PoI takes complete notice of the number of transactions made and the amount of token in a given address. This ensures the growth of the network in the longer run.
  3. NEM comes with its own wallet which is very simple to set. It also cuts away unnecessary time consumption due to its speed.
  4. A special and a very unique messaging feature is found in NEM. There is absolutely no requirement for a XEM to be sent for the message to get delivered. The transaction fee of sending out a message is lesser than what the traditional messages cost. As far as unencrypted messages are concerned, 1 XEM is charged for every 32 characters while the cost varies for encrypted messages.
  5. NEM has proven to be a good investment in recent years. It was estimated that a $100 worth of NEM in 2016 would give back $1,200,000 in return when NEM topped off at $2.04. It has made a reputable growth in terms of valuation.
  6. People that possess 10000 XEM can start mining, also known as digital harvesting.

Why exchange your BTC to XEM?

When people think of converting Bitcoin, what cryptocurrency first comes to mind and what might be the best exchange to convert NEM? The simple answer to this: BTC to NEM. It is probably the most suitable answer for users all over the world.

Bitcoin was released as the first-ever cryptocurrency in the year 2009 by Satoshi Nakamoto. Since then, it has successfully maintained its position of being at the top of all the cryptocurrencies. There is absolutely no doubt that Bitcoin has successfully taken up the rank of being the number one cryptocurrency but there is a lot more that is required. NEM is projected as the next big thing in the market, and there is no doubt that it can steal the thunder of Bitcoin by a fair margin.

The updates that are included in NEM make it one of the best cryptocurrencies that would become the reason why one would look up for Bitcoin to NEM converter. Considering these updates in NEM cryptocurrency, it would not be very late that it would surpass the rank of Bitcoin.

How to exchange Bitcoin to NEM?

exchange NEM coin to Bitcoin at the best exchange rate

People can find it challenging to exchange Bitcoin to NEM. Many users who want to do so are either stuck at the wrong platforms, or are confused about the process. However, there are exchange aggregators, like Swapzone, who provide these services to the users in the market. We issue an easy to use interface for the users and allow more feasibility in the whole process. With only a few clicks and steps, users can immediately convert BTC to XEM.

Swapzone offers exchanges in different crypto pairs. We act as a trusted platform and immensely help the crypto community in their decisions. Moreover, we have listed down a few easy steps for you to exchange to NEM coin:

  1. Go to Swapzone.io to get your work started.
  2. Select Bitcoin in the Send section.
  3. Specify the total amount you are going to exchange to NEM.
  4. Select NEM in the Get Up To section.
  5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
  6. Confirm the offer you wish to utilize and then enter the wallet to receive NEM.
  7. Send the deposit in BTC through your crypto wallet.
  8. Wait for the deposit to be processed by the exchange service and the exchange to be done.
  9. Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.

These nine easy steps are sufficient for users to exchange Bitcoin to NEM.

Video guide on how to convert crypto to NEM?

Swapzone presents the convenience of a swapping service along with the best rate option and safety of the whole process to exchange cryptocurrency to NEM coin. There is no need to use any supporting documentation, nor registration in the system.

If you’re a visual learner and want to have a better understanding of how to convert Ethereum or Bitcoin to NEM on Swapzone with no hassle, check out our step-by-step video tutorial: