NEM Price Prediction “Should I invest in Bitcoin?” is a question I hear quite often. The first thing I tell investors is to look at other cryptocurrencies: Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR), the list goes on and on. There are literally hundreds of alternatives to Bitcoin (BTC).
And, blasphemous though this may sound to those who pray at the altar of Bitcoin, some of these currencies are better than Bitcoin. They took what worked, tweaked what didn’t, and emerged with potentially superior technology.
In fact, this report will explore one of these unappreciated cryptocurrencies: NEM (XEM).
NEM is the seventh-largest cryptocurrency by market cap, but you wouldn’t know it by reading Forbes or Fortune. It is relatively unknown outside of crypto circles.
There’s also confusion around the currency’s name. It is called NEM, but it trades under the symbol “XEM.” Oh, and perhaps I forgot to mention: the XEM price is just $0.208119.
The elevator pitch for NEM is simple: 1) Take what Bitcoin is doing for payments, and 2) apply it to all technological infrastructure.
It is very similar to the work Ethereum is doing with “smart contracts,” except that NEM bills its features as “smart assets.” Here are a few potential use-cases:
According to the company’s marketing materials, a handful of businesses have already adopted NEM. “Tests across millions of accounts have demonstrated why it is one of the best-performing systems in the industry,” reads one of their presentations.
NEM is barely two years old (at the time this article went to press), but it’s already a highly profitable investment. For instance, the XEM price increased 5,950% year-to-date in 2017.
The XEM price took flight in the first quarter, rising to a high of $0.29314. Then it hit a spot of turbulence, leading a sharp fall down to a low of $0.090656.
This was followed by another steep ascent to $0.349178, which was in turn followed by another stumble. At the moment, NEM is hovering somewhere in the middle of $0.20 and $0.21.
This is important to note for several reasons. For one, investors need to know that the ride won’t be smooth. Cryptocurrencies are experimental by their very nature, and there’s always a chance of failure in every experiment.
Moreover, you will likely see days of five percent, 10%, or even 15% movements, and not always to the upside. But you may notice that despite the corrections, NEM is trending upwards.
So if you’re prepared to wait out the rough periods, there is an opportunity to make significant returns from the XEM coin.
If you’re interested in buying XEM, prepare for a grind.
Bitcoin and Ethereum may be commonly available, meaning that you can easily change them for U.S. dollars, but XEM is trickier to get your hands on.
There are a handful of fiat-to-XEM exchanges, to be sure, but they are plagued by low trading volumes. Since liquidity might be an issue on those exchanges, I would simply buy Bitcoin or Ethereum first, then trade those for XEM coins.
Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.
Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.
But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.
Facebook page FOREXINVESTORS
NEXUS SOCIAL JADTECNIC
Click here for reuse options!