What is the current price of NEM (XEM)?

The current price of NEM (XEM) is 0.02428087269604325 AUD, representing a -3.01 from the day prior.

Can I buy NEM (XEM) on Coinstash?

Yes - you can easily buy and sell NEM (XEM) on Coinstash. Simply login or sign up, to start buying NEM (XEM) in minutes.

Where is the best place to buy NEM (XEM) in Australia?

The best place to buy NEM (XEM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell NEM (XEM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of NEM (XEM)?

The trading volume of NEM (XEM) is 29.6M AUD in the last 24hrs, representing a -3.01 from the day prior.

How can I buy NEM (XEM)?

NEM (XEM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of NEM (XEM)?

The current market cap of NEM (XEM) is 223.9M AUD.

Can I convert NEM (XEM) to cash?

Yes - With Coinstash you can convert your NEM (XEM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many NEM (XEM) are there?

The current circulating supply of NEM (XEM) is 9.0B.

Is Coinstash a safe place to buy NEM (XEM) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling NEM (XEM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy NEM (XEM)

What is NEM?

NEM (New Economy Movement) is a blockchain and cryptocurrency project designed to improve scalability, security, and efficiency. It aims to establish an economic framework that addresses issues found in existing systems managed by traditional authorities, promoting economic freedom and decentralisation. NEM's unique features include a Proof of Importance (PoI) consensus algorithm, which rewards participants not just for holding coins, but for their active participation in the network.

How does NEM work?

NEM operates using a consensus mechanism known as Proof of Importance (PoI). PoI considers the amount of XEM (NEM's native cryptocurrency) a user holds and their activity within the network. This mechanism incentivises active network participation over mere wealth accumulation. Additionally, NEM features "harvesting," a process akin to mining where users earn XEM for maintaining the network. NEM's blockchain supports programmable smart assets and mosaics, allowing users to create custom tokens and manage them interactively across both private and public blockchains.

What are the potential use cases for NEM?

NEM's flexible and efficient blockchain offers numerous use cases across various sectors:

Asset Management: Facilitating secure transfers of digital assets, including tokens and contracts, across blockchains.
Supply Chain Management: Enhancing transparency and efficiency in logistics through secure data sharing.
Smart Contracts: Enabling automated, secure agreements for complex transactions.
Blockchain Interfacing: Providing seamless interaction between private and public blockchain networks.
Harvesting: Allowing users to participate in network validation through NEM's unique system, earning XEM as a reward.

What is the history of NEM?

NEM was conceptualised in January 2014 by a Bitcointalk.org user named Utopian Future. The project officially launched on March 31, 2015, with the creation of its genesis block. NEM has undergone significant development phases, including the launch of Catapult (NEM 2.0) to improve transaction speed and the subsequent release of the Symbol blockchain in 2021, transitioning to a Proof of Stake Plus (PoS+) mechanism. Throughout its history, NEM has been managed by the NEM Foundation, which has played a crucial role in promoting its adoption across various industries and sectors worldwide.