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Wallet from private key nem. Best NEM (XEM) wallets. Features and principle of operation of the NEM cryptocurrency

NEM is a platform for creating digital assets on the public blockchain. The system uses the NEM (XEM) cryptocurrency to pay commissions, which has gained wide popularity among investors. The high interest in the coin is partly due to the anticipation of a new release, codenamed Catapult, which will significantly increase network bandwidth and add elements of smart contracts to the platform.

To work safely with NEM cryptocurrency, the user needs to create their own wallet. Of course, you can store tokens on the exchange, but in this case, the risk of losing funds increases many times over. So, at the beginning of 2018, the XEM cryptocurrency worth more than $ 500 million was stolen from users of the coincheck exchange due to a vulnerability in the code of the trading platform. Keeping funds in your own wallet saves the investor from such risks.

In this article, we will explain in detail how to work with different wallets for NEM cryptocurrency, and also try to highlight the pros and cons of each of the available storage methods.

Today there are four types of wallets for the NEM cryptocurrency:

Software or desktop;
Mobile;
Paper;
Hardware or cold.

The NanoWallet software NEM wallet is the most versatile way to work with this cryptocurrency. You can install the program on any computer with Windows, Linux or Mac OS. In addition, a portable version of the wallet is available that can be saved to a USB flash drive. The application connects to remote nodes to perform all operations, there is no need to download the blockchain to the computer.

The NEM mobile wallet is available for iOS and Android devices. The application is in beta status, so the safety of its use is questionable. However, experienced users find it quite reliable. The main thing is to immediately copy your private key, which will be required to access the cryptocurrency in the event of a smartphone replacement or software problems with the wallet.

The NEM Paper Wallet is a printout containing a pair of cryptographic keys to access funds. A paper wallet cannot be hacked over the Internet, which has a positive effect on its security.

A hardware wallet is the most secure way to store NEM cryptocurrency. In this case, the private key is stored in encrypted memory on a separate device with a USB port. A cold wallet is connected to a computer only to send cryptocurrency or check the balance, while the user has complete control over the movement of funds: a physical button on the device is used to confirm transactions.

Note that at the moment there is not a single online wallet for cryptocurrencyNEM. This disadvantage is partially compensated by the presence of a portable versionNanoWallet, which can be downloaded to a USB flash drive and opened on any computer. If desiredNanoWallet can even be run on a tablet or smartphone withAndroid OS.

Which NEM wallet to choose

The table shows a comparison of all existing wallets for NEM cryptocurrency.

Wallet name			Trezor	Github
Wallet type	Program	Mobile	Hardware	Paper
Requires blockchain download	No	No	No	No
Availability across devices	On most devices	On a smartphone or tablet	On any PC (in conjunction with a portable NanoWallet)	Only for receiving cryptocurrency
Reliability and safety	Okay	Medium, possible malfunctions	Excellent	Very well
Price	Is free	Is free	€ 98 for delivery to Russia	Is free

Note that the mobile wallet is considered to be quite robust when using a strong password. The security score has been downgraded due to the instability of the application, which is still in beta status. However, possible problems in the operation of the mobile wallet will not result in loss of funds if you save a backup copy of the private key.

Here are some tips for choosing a wallet for NEM cryptocurrency.

All wallets, with the exception of mobile, offer a high level of security for storing funds. However, hardware and paper wallets are the most resistant to hacking. The NanoWallet program is also considered quite safe, but only if the user's computer is not infected with viruses.
The NanoWallet software wallet is the most convenient and versatile. It runs on any operating system that has a web browser, so the portable version can even be downloaded to an Android smartphone or tablet.
Any of the existing NEM wallets, except for the hardware one, can be used absolutely free.

How to create a NEM wallet

Let's consider the process of installing and configuring each of the available types of wallets.

Installing the NanoWallet software wallet

NEM NanoWallet is perhaps one of the most versatile and user-friendly cryptocurrency wallets. Several important advantages can be recorded in its asset at once:

works in light client mode and does not require downloading the full version of the blockchain;
displays the current balance of the wallet in dollars and bitcoins;
is truly cross-platform: the portable version of the program can run on almost any device.

The latter feature becomes especially relevant due to the lack of a web wallet for the NEM cryptocurrency. The portable version can be opened directly in the browser on almost any device running Windows, Linux, Mac OS or Android. To do this, simply unpack the archive with the application on a USB flash drive or load files into the device's memory.

In this review, we will look at the process of working with the official NEM NanoWallet wallet in its portable edition. This is the most versatile version of the program that supports the Trezor hardware wallet. The software packages for Windows, Linux and MacOS have a similar interface, so all the instructions provided will remain relevant for any version of NanoWallet.

To download the NEM NanoWallet, go to the official website of the project in the "Downloads" section. To download the portable version, click on the "Universal Client (with Trezor Support)" link. If you want to download an application for a specific operating system, use the buttons located just below.

Unpack the archive to a convenient location: it can be either a folder on your hard drive, or a flash drive or other external media. Open the start.html file in a browser.

To create a new wallet, use the "Sign up" link in the upper right corner.

The program will offer to create one of two types of wallets.

Simple wallet is the standard type of wallet. When using it, the private key is stored in a separate file and encrypted using the user's password.
Private key wallet - used to import keys from paper or mobile wallets.

Select the type of wallet "Simple wallet".

Make sure "Mainnet" is selected and click "Next".

Come up with a name for the wallet, consisting of Latin letters. The name is used only for your convenience and is not publicly available.

Come up with a password: it will be used to log into the wallet and import the backup. Write down your password in a safe place: without it you won't be able to access your funds.

In the next step, the program will generate a private key. Press the "Start" button and make random movements with the mouse until the indicator shows 100%.

Do not skip this step under any circumstances: without a backup, you will not be able to restore access to your funds the next time you use the wallet.

Click the Download wallet button to download the wallet file with the extension . wlt... Save it to the program folder. The developers strongly recommend that you create a second copy of the file on another device. The information in the file is encrypted, so storing it on a USB flash drive with the program can be considered quite acceptable.

If for some reason you could not download the wlt-file, click the "Show raw wallet file" button. Copy the text, paste it into Notepad or another text editor and save it as a file with the name your_ wallet_name.wlt.

Click the "I have my wallet file" button to complete the backup process and proceed to the next step.

Save your private key. Click the Show private key button, copy the resulting text and save it in a safe place. Together with the wlt file, the private key is sometimes required to restore access to funds.

At the next step, the program will once again remind you of the need for careful handling of keys and passwords, after which the installation of the NEM wallet will be completed. Log in to the wallet using your password, having previously selected the desired wlt-file in the "Select wallet" field.

If you turned off Internet access at the stage of creating a wallet, do not forget to restore the connection.

The status of the connection to the remote server is displayed in the upper right corner. If you see a red circle for more than 10 seconds, or if new transactions are not displayed in the wallet, try changing the node by clicking on the "Node" link.

Click on "Account" to view your address.

You can copy the address by clicking the corresponding button.

How to create a mobile NEM wallet

Links to the NEM Wallet page on Google Play and the AppStore can be found on the platform's official website under the heading "Mobile Wallets". In this review we will walk you through the process of installing a wallet on an Android smartphone, but the instructions provided will work for iOS devices as well.

When you start it for the first time, you will see a warning that the program is in beta status and may be unstable. If you agree to continue working, check the box and click "OK".

Create a password to unlock your wallet. There is no way to recover your password, so it's best to write it down in a safe place.

Click "Add account" to create a new wallet. In the next step, select "Create".

Enter your account name (any English word). The name is only needed for your convenience, it does not go public.

The application will offer to create a backup of the wallet. Let's not postpone this important matter and press "OK".

In the “Set export password” field, you can create another password for encrypting the private key. By default, the wallet will offer to use the password that you already provided in the first step. In most cases this is sufficient, so you can just click OK.

Click Show private key to view your private key.

Copy the text under the “Private key” heading. Store it in a safe place.

The installation of the NEM Wallet is now complete. To view your address in the blockchain, use the "QR" button. You can copy the address by pressing the "Copy Address" button.

How to create a NEM paper wallet

To create a paper NEM wallet, we will use the offline version of the aenima86 generator. Go to the project's Github page, hover over the "Clone or download" button, and click "Download ZIP".

It is necessary to create a paper wallet without access to the Internet. This is the only way to ensure that your private key does not fall into the hands of intruders.

Cut off your internet connection. Unpack the archive into a separate folder and open the index.html page.

Three keys will be generated immediately after loading the page:

Private - will be required to send funds in the future, it must be kept secret.
Public (public) - a technical key that may be required in some cases.
Address (Public address) - this string must be passed to other users so that they can send funds to your wallet.

If you want to regenerate keys, just refresh the page.

Unfortunately, the generator does not contain a built-in print button. The easiest way to solve this problem is to copy the keys into a text editor (copying square QR codes is optional). Even the standard Windows Notepad is fine for this.

It remains only to print the keys using the tools built into the text editor. Be sure to make sure that all keys have been printed completely and without errors.

If in the future you want to send tokens from a paper wallet to another address, you will need to download the NanoWallet software wallet and import your private key into it.

Buying and using the Trezor hardware wallet

The Trezor hardware wallet is the device that provides the highest level of security when working with NEM cryptocurrency. When using it, the possibility of theft of the private key by software means is completely excluded, which significantly increases the reliability of storing funds.

You can order a Trezor wallet with delivery to Russia and other countries on the project's official website. To place an order, click the Get your Trezor button.

Select the device color and click "Add to cart".

In the right column you will see information about delivery and cost of the goods. The price is not final: if you visit the site from a foreign IP, the shipping cost will be calculated later, at the time you enter the address. Click "Proceed to checkout" to proceed to filling in the shipping information.

Provide name, shipping address, and contact information. All fields must be filled in in Latin letters.

Scroll down the page and select a payment method: Bitcoin or bank card. Please indicate your agreement to the terms of service. Click the green button to pay for your order.

Having received the wallet at your disposal, you can use it in conjunction with the portable version of the NanoWallet software wallet, which we have already described a little above. The difference is that immediately after starting the wallet, you need to go to the "Login" menu and select the "Login with TREZOR" item, skipping the entire setup process.

Conclusion: where is it more convenient and safer to store NEM cryptocurrency

Almost any of the wallets listed in the article can be used as the main way to work with NEM cryptocurrency. The only exception is a paper wallet, which is only suitable for receiving, but not for sending, NEM tokens. Its main purpose is long-term storage of cryptocurrency.

For regular work with cryptocurrency, a software or hardware wallet is best suited. Both options provide an acceptable level of reliability and are comfortable in everyday use.

It is preferable to use a mobile wallet only as an addition to a software or hardware solution. The beta version of the NEM Wallet app for iOS and Android remains unstable and may cause inconvenience in daily use.

NEM (XEM) cryptocurrency was created in Japan. The name stands for New Economic Movement (New Economic Movement). The developers used their own open source and the help of the leading Japanese cryptocurrency exchange ZAIF. NEM is both a digital currency and a platform.

A key feature of XEM is the application of the Proof of Importance algorithm (proof of importance). The choice of the person who will be responsible for the formation of the next block depends on two parameters: the share of the user and the number of operations he performs. The developers wanted NEM to be more of a calculator than an accumulation.

9 billion XEM coins are in circulation. The developers are not going to increase their number yet.

History of origin

The alpha version of the XEM cryptocurrency appeared on June 25, and the beta version - on October 20, 2014. The developers are known thanks to the Bitcoin Talk forum. These are Long Wong, Jeff MacDonald, Nels Valero and others. The project is currently based in Singapore.

The stable version of the cryptocurrency has existed since 2015. To prevent bugs and ensure security, the developers released enhanced versions of XEM every few months. We also worked on increasing the throughput of NEM and translating it into C ++ code.

Since 2016, the creators of the XEM cryptocurrency have been collaborating with the Zaif platform. At the initiative of the latter, programmers of the corporate network Mijin developed the NEM Catapult application. The add-on allowed to increase the number of operations performed per unit of time, improve network connections, optimize scalability and add other useful features.

Features and principle of operation of the NEM cryptocurrency

Let's dwell on the main nuances.

POI Algorithm

The cryptocurrency uses code based on the Java programming language that runs on the POI (Proof of Importance) algorithm. Operations on the NEM platform are transparent. The functioning of POI is based on three parameters relative to the user:

proper units of cryptocurrency;
the number of transactions completed;
counterparties.

Operations are carried out on the basis of the "Client-node" model. A complete copy of a sequence of tens of thousands of blocks is not needed. The node and client are independent of each other.

Harvesting

Harvesting is a kind of NEM mining. This is a reward for forming cryptocurrency blocks. To take part in "harvesting", you need to have at least 10 thousand XEM and a configured node. After the block is formed, the user receives NEM to the wallet.

Namespaces

This naming system is similar to ICANN. Top and bottom level domains are common here. A person with one name creates others - it is convenient to communicate with colleagues from different projects and chats. Relevant for preserving the reputation rating for the mosaic.

Mosaic

Mosaic is a face asset based on the NEM platform. It is customizable using the Nano Wallet by users. The following parameters are important:

separation;
availability of a description;
transfer capability.

Mosaic is a convenient tool for transferring cryptocurrency to another user along with coded messages. But with each transaction on the network, you need to pay a commission.

The mosaic is endowed with a unique domain in the namespace system using the subdomain.domain: mosaic format. It is applied in the form of currency, securities, vouchers or loyalty points.

Catapult

Catapult is a program change to unify the public and private NEM blockchain. This is NEM's outlook for the first quarter of 2018.

The public blockchain provides XEM exchange for other cryptocurrencies, payment for goods and services, harvesting practices and more. Thanks to the private type of organizations, they solve internal problems, speed up operations without using the public side.

Supernodes reward program

A harvester who has active nodes, owns 3 million units of cryptocurrency and meets other platform requirements is rewarded. 140,000 XEM will be split between users every day.

Let's briefly dwell on other features of NEM:

The minimum period for generating a new block is 1 minute. The indicator is better than that of most other cryptocurrencies.
Lack of complexities of use. Even a beginner can understand the advantages of software and wallets.
High level of security. Storing funds in wallets and transferring them to the desired addressee provides unique encryption.

NEM is a long-term investment opportunity.

Difference between NEM and Bitcoin

XEM and BTC are cryptocurrencies. But on the basis of the platform, a sequence of blocks for private use is formed first. Therefore, the user does not need to create a blockchain code.

The reliability of NEM technology is certified by banking institutions. Bitcoin, including the main hard fork, and most other cryptocurrencies, for example, cannot boast of such a fact.

It is also easy for an ordinary user to use the system of API programming capabilities and combine them with XEM. The latter's code is not based on the Bitcoin code and is unique.

Blockchain security

Bitcoin technology is based on proof of work. The miner's PCs perform complex mathematical calculations. Information about completed transactions is permanently recorded. For mining (mining Bitcoin), you need to have expensive equipment, the regular use of which is a prerequisite for an increase in electricity costs tenfold.

The person who owns the NEM submits the transaction to a permanent record. The system takes into account the number of coins owned by the user. These calculations are relatively simple, do not require the use of significant computing power and a large amount of electricity.

XEM technology rewards economic participation. With an increase in the number of transactions based on this cryptocurrency, the user has a better chance of transferring the transaction to a permanent record. This process is called "harvesting".

The introduction of the concept of "importance" has another significant advantage. During the census, the wallet does not need to be connected to the Internet. Therefore, the PC "harvests", and the coins in the wallet are reliably protected.

Spam

Spam attacks are common in Bitcoin. To form a negative opinion of users about the network, some people fill it with hundreds of transactions worth a few cents. As a result, the duration of transaction confirmation increases. It is often necessary to pay a significant commission to get transactions done on time.

In the XEM system, protection against spam lovers is spelled out in an encoding. If the blocks are overflowed, it automatically starts to operate. The commission for the operations of unscrupulous persons grows exponentially, while for ordinary ones it remains unchanged.

Multi-sig

For the XEM network, Multi-sig (Special Interest Groups) are relevant. The option posts transactions when there is a certain number of partner confirmations. Convenient when a trading account is created by several persons.

The Bitcoin system also allows for a multi-purpose function. However, third-party protocols are used in which persons do not interact with each other.

Other differences between XEM and BTC

Lack of mining. The developers have created 9 billion coins and do not provide for the possibility of mining NEM. But they offer delegated harvesting.
Minimum commission. In the XEM system it is only 0.01%.
A significant number of transactions per second, sometimes as many as 3000 transactions.
Lack of intermediaries. You do not need to independently confirm or wait for the consent of others for an XEM-based operation.
Tokenization of assets. NEM is used when issuing another digital currency, voting, launching an ICO, registering intellectual property rights to a land plot, starting a business, and more.

Key advantages of NEM in relation to Bitcoin are spam prevention, reliable partnership, minimal harvesting costs, efficiency and security of transactions.

Expert video:

XEM Price Predictions

For the first time, the NEM rate and capitalization rose sharply in June 2016. Then the digital currency came to the fore in the Japanese market.

During the first 5.5 months of 2017, the NEM rate increased by 50%. In May, in terms of capitalization, NEM moved into 4th place in the world.

By December 2017, the rate did not rise above 33 cents. However, over the last month of the year, the value of the cryptocurrency exceeded the symbolic dollar mark, reaching the level of 1.18 US green per unit.

Current XEM to USD rate:

NEM to ruble rate:

A new achievement for NEM developers is the WeChat Wallet app. This is an improved version of the old WeChat messenger. Users received new options for attaching wallet addresses to contacts and sending cryptocurrency to others using messages.

The cryptocurrency is used by leading Japanese banks. NRI, initiated by SBISumichinNetBank, tested the Mijin network with more than 2 million transactions in 24 hours. The system has passed the test.

Close cooperation with Japanese banks and the financial sector in general is a positive development factor. The more dynamically cryptocurrencies develop, the more restrictions they will receive from states. The latter cannot afford to lose control over the financial sector and refuse significant tax revenues to the budget. As the role of cryptocurrencies in the financial system grows, NEM will benefit.

XEM is now a convenient way to transfer funds and pay in online stores. Some experts argue that cryptocurrency can replace SWIFT. This interbank system does not meet the requirements of modern users. For example, the duration of translation with its use is up to 3 days.

NEM wallet

To download the XEM cryptocurrency wallet, follow the steps below:

Follow the link https://nem.io/downloads/.
Choose a wallet: NEM nano Wallet (for PCs based on OSX, Windows, Linux and other OS) or Mobile Wallet (for Android or iPhone).
Click on the corresponding download button.
Then you will be taken to the page where click on "DOWNLOAD THE NANO WALLET".
Although it is possible to save the application to the Dropbox file hosting, downloading it directly to your PC is more convenient.
The document will be uploaded in archive format. Right-click on it, select "Extract to current folder" and open the program.
A browser will open and a page for registering a wallet will appear.
Click on "Register". Choose the type of XEM wallet depending on the security level: simple, smart or with a private key.
You get the wallet file and the key to it. Save the password on the D drive of the PC or another drive other than C.

By following the steps listed, you can enter your password and use your XEM wallet.

How to get NEM

You can earn NEM as a result of harvesting. The commission is taken from the input operations in the block.

Harvesting is divided into local and delegated. At the first, the XEM client works online and the private key for signing the formed block is obtained. Delegated provides for remote launch and receipt of a private key from an intermediary with an empty balance, which is generated almost simultaneously with the start of the mode. By publishing the reseller password, the security of the user's primary account is guaranteed. The owner of the significant account receives the commission for the formation of blocks, and the intermediary is left with nothing. Most wallets use the capabilities of the second option.

Activation is a prerequisite for delegated harvesting. It lasts about 6 hours and costs 6 XEM units. Once activated, harvesting will work even when the PC is disconnected.

The balance is conventionally divided into two parts. Active - the accumulated funds as a result of replenishing the wallet. The passive part is funds on which interest has not yet been accrued. During the day, the user will get about 10% of the balance. Further - 10% of the passive part. As the number of coins increases, so does income.

To earn NEM, it is necessary that part of the balance be more than 10,000 units of this cryptocurrency. If less, then the importance factor is zero and the user gets nothing.

Where to buy XEM

You can buy and sell NEM on almost any major exchange for a small commission. Unfortunately, cryptocurrency is not represented in all currency pairs. You can use the services:

LiveCoin.net;
EXMO.com;
YObit.net.

Exchangers are also relevant. And the most profitable options for exchanging XEM are collected using both specialized services and payment systems. For example, with the help you can buy and exchange NEM for rubles.

XEM is a fairly transparent cryptocurrency. Qualitatively differs from similar virtual currency units in functionality. The prospects for NEM are positive, the system will continue to evolve. Therefore, with a high degree of probability, the rate and capitalization indicators will increase. This is a profitable investment in the long term, however, first of all, carefully assess your financial capabilities and available knowledge.

5 (100%) 2 pers.

In this article, you can find out what the NEM (XEM) currency is, what advantages and disadvantages it has, as well as how it is mined (mined).

The current exchange rate (online change) of NEM to the US dollar at the moment and fluctuations during the day.

What is NEM cryptocurrency?

NEM (New Economic Movement) cryptocurrency is presented as a fresh project with great investment prospects. The token of the cryptocurrency in question on crypto-exchanges is referred to as XEM and is a full-fledged competitor to the Stellar and. The development of the currency falls on 2016 and so far it has managed to gain strong approval from Japan. What are the features of a young currency and how profitable is it to mine?

The considered cryptocurrency platform is peer-to-peer, built on the basis of Java and Javascript, and has a unique source code. The functional upgrade does not end there - the Proof-of-Importance algorithm harmoniously complements the blockchain technology. It also focuses on the use of the Eigentrust ++ system, a multisignature, an integrated system for the exchange of encrypted information.

Thanks to the NEM platform, users have the opportunity to create safe and easy-to-use cryptocurrency wallets, as well as exchange P2P messages. It was on the basis of this platform that the first active notarial blockchain service was created, which implies the possibility of using a digital signature to confirm ownership rights. Thanks to open source, the creation of other commercial projects is also available, taking into account the release of new tokens or the holding of ICO.

Financial technologies still remain a priority for creators, we are talking about bank transfers. Blocks are generated quickly enough, in just 60 seconds, so there is a predisposition for such prospects. Supports up to 4 thousand transactions per second thanks to Catapult - the author's system for aggregating operations. These characteristics make the platform in question the fastest financial messenger. In addition to speed and efficiency, the Mijin system has been introduced, which makes transactions safe.

Who created and when?

The launch and active use of NEM falls on May 2015. before this period, the cryptocurrency was tested for six months at the initial stage and then it was used in the form of a beta version. The developers are the specialists of the NemProject company, who focused their activities on creating a long-term and promising project, and they succeeded. The key goal was the speed and safety of financial transactions, and this they also achieved.

Features:

The key feature of the cryptocurrency in question is its completely unique, open source code. The platform operates on the basis of the POI algorithm, which, before generating the next block, analyzes the contribution of each user to the promotion and development of the currency. Compared to POS, the priority will be the size of the miner's share. The approach under consideration is more open and honest.

According to this system, validators and miners are usually called harvesters, and harvesting is presented as a block reward. The role of a harvester can be assumed by any user who has installed a masternode, but it is worth complying with a prerequisite - the presence of at least 10,000 XEM coins on the balance. It only takes a minute to generate one block, wallets are easy to use, and software installation doesn't take long. The final issue is XEM 9 billion.

Another feature worth focusing on is the special rules for calculating commissions for transactions. The calculation depends on the amount of balance on both sides of the transaction, the activity of participants in the system, the level of security of the transaction. The size of the commission will be increased in proportion to the size of the user's balance. This mechanism was deliberately used by the developers so that coins do not accumulate en masse and cryptocurrency is widely used.

Benefits

The advantages of the platform in question include the following factors:

the currency is aimed at the existing financial economic sector, which is guaranteed to use innovative cryptocurrency schemes sooner or later;
the algorithms of work are unique and involve rewarding the success of active users, and not more wealthy ones.

disadvantages

The novelty of this cryptocurrency is its main disadvantage, but at the same time it is also an advantage, since the project does not stop expanding and improving. Developers supply users with related products, and in the future, a struggle for leadership is clearly visible.

How do I get NEM?

There are three ways you can buy NEM cryptocurrency.

Using the Livecoin exchange to buy is a fast, profitable and convenient way. However, it should be remembered that trading takes place in small volumes. For transactions in the amount of 300-700 dollars, this method is still suitable, but not at higher rates.
Using fiat money to buy bitcoins and then transferring them to the Poloniex exchange. Buying coins in large volumes is available here. The process in this case is not as comfortable and takes longer. Additionally, it is necessary to undergo verification before bidding.
Using the Changelly exchanger is as easy and quick as the first one. The purchase is carried out using a Visa / Mastercard. Purchase commissions can be quite impressive.

Where to store?

To store coins and operate currencies, it is worth using special NEM wallets, for downloading which you should use only reliable sources.

An example is the official website https://nem.io, where the developer provided all the necessary information about the product. For convenience, users can choose the version of the wallet depending on the device used.

After downloading and installing it is worth registering, after which you will have a personal NEM address. This address is unique and is issued personally to each participant, it allows you to send funds directly to your account, no matter what resource you carry out a financial transaction. The considered variant of the wallet can be presented in different formats, the differences between which are in the level of security, which is provided by different types of keys. Even beginners have no problems with the interface.

How to mine (extract) NEM - instructions for beginners

Since the project is not yet very widespread and the purchase is not possible on every exchange, it is possible to analyze every available resource and choose the best conditions. This nuance is also an advantage, since a new cryptocurrency product gives miners a field for action, if mining is initially implied by the developers. Therefore, the user can act as a discoverer and make a good profit by mining the coin. As for mining methods, the following methods are relevant for NEM:

Mining farms are presented in the form of complex and very costly resources, but the efficiency in this case will be maximum. The payback is fast and if you will invest with a long-term perspective, this method is great. The downside is the lack of instant income.
An easier way is to use capacities. Powerful graphics cards combined with the appropriate software enable block detection. Income in this case is regular, fast, but small. However, the creation of capacities does not require spending large sums and this is the main advantage.

Legalization of the electronic currencies market will negatively affect the growth of the value of NEM in the near future, however, the US and China are not yet striving for legalization. In any case, the currency in question will develop, since these processes in the market are temporary.

(XEM) is a decentralized peer-to-peer cryptocurrency and blockchain platform that was launched in March 2015. Since then, it has entered the top 10 cryptocurrencies with a market cap of over $ 5 billion (at the time of this writing).

There are 9 billion XEM coins in circulation, all of which were created prior to launch. NEM is written in Java and it was built from the ground up to address the challenges that many cryptocurrencies face today (such as ease of use, speed, and scalability).

Top 3 NEM Chips

1. Proof of importance

NEM has introduced a new feature for blockchain technology called Proof-of-Importance (POI). This is somewhat similar to proof of stake, but includes more variables. Thanks to POI from NEM, we see the following picture, the more coins a user has, the more transactions they produce - the more value they have. This strategy encourages the active use of XEM coins, and not just storing them in wallets.

2. Harvesting

Instead of mining, NEM uses a chip called "harvesting". This method does not require any special equipment, but you need to have at least 10,000 XEM coins to start harvesting. Anyone who manages SuperNodes (see below) and processes transactions will receive payment for processing payments on the network.

The main advantage of harvesting is that it uses much less electricity than conventional mining, which means lower transaction fees. Thus, we conclude that NEM is a much more energy efficient cryptocurrency compared to (BTC).

3. Supernode program

The supernode program rewards people who work with active nodes. High-performance nodes help protect the network. Those who achieve the necessary parameters in terms of bandwidth, chain size, ping and performance are rewarded in no particular order. However, you must have at least 3 million XEMs to access the supernodes program.

Step 1: Choosing a NEM wallet

If, after reading this article and seeing great prospects for NEM, you decided to invest, then you probably want to find a reliable NEM wallet to store your XEM coins. An alternative is to store your coins on exchanges. Unless you plan on trading daily, I strongly advise against storing your coins on exchanges for security reasons.

Unfortunately, when it comes to wallets that support NEM, we don't have much options. The only viable option is the NEM Nano wallet, which is a desktop wallet compatible with Windows, Mac and Linux.

There is also a NEM mobile wallet that can be downloaded via Android or iPhone apps. But a desktop wallet is generally considered the best option. Therefore, the NEM mobile wallet received mixed reviews, some of which mention bugs and constant crashes.

7 Easy Steps to Install NEM Nano Wallet

Now, let's take a look at the step-by-step instructions for installing the NEM Nano wallet:

Nem Nano Wallet Home Page

Go ahead and select the appropriate wallet version: Windows, Mac or Linux.
Download the wallet and open it. Then you will see the interface. Click "Sign Up".
You will see several types of wallets: Simple Wallet, Brain Wallet and Private Key Wallet. I recommend choosing Simple Wallet.
Enter your wallet name. In the Select a Network section, keep the default Main net. Then come up with a strong password.
Click on "Create Simple Wallet". Then your wallet will be saved as a .wlt file that contains your personal key.
After downloading the .wlt file, you will see the Account Security Alert pop-up window. Be sure to read the information and make sure that your wallet files, personal key and password are loaded. It is highly recommended that you save your private key somewhere else in a safe place. Then click “I agree”.
Congratulations! You are now on the login page. Select the wallet you just installed and enter your password. Click "Sign In". Now you see the main interface of the wallet and you can start working!

Main interface of Nem Nano Wallet

Step 2: buy NEM

Now that your wallet is fully installed, it's time to buy XEM coins. There are several interesting options available to us:

We buy NEM on the exchange for fiat money

This procedure can be performed on a very limited number of exchanges. For example, Exrates (XEM / USD pair) and LiteBit.eu (XEM / EUR pair).

Such a purchase can be made on the giants of the crypto exchange industry. For example, on, or HitBTC. When buying XEM on the Bittrex exchange, an exchange for (ETH) is also available. This is actually the most profitable option at the moment.

We buy BTC and transfer to another exchange that supports XEM

The last option is to buy bitcoins on one exchange that does not trade NEM (Coinbase, or Gemini). Then transfer them to another exchange that supports NEM and exchange them.

We buy NEM through the Changelly service

Another way is to buy BTC on any exchange of your choice, then exchange them for XEM using. This service itself is unique as it does not require any verification.

Changelly Service

You just need to register with your mail and you can start exchanging bitcoins or any other crypt for NEM in 30 minutes.

Conclusion

NEM is a very transparent and highly traceable cryptocurrency. But, in comparison with bitcoin, this cryptocurrency is little secured with privacy. Although not progressive, NEM is a highly functional coin. The fact that this cryptocurrency is among the top 10 cryptocurrencies testifies to its functionality. Although there are not many NEM wallets, the NEM Nano wallet works well. It is very easy to buy NEM as the XEM / BTC pair is available on many.

Is the future for NEM?

Do you already have NEM? I look forward to your comments.

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NEM cryptocurrency (XEM) is a multifunctional platform that not only provides fast transactions, but also allows the network to be integrated into various projects. The versatility and complete transparency of user actions attracts the attention of many investors. In order to store coins, you need a suitable nem wallet.

Desktop clients

Special programs that are installed on a PC have a high level of security, so the developers recommend this method for placing digital currency. At the same time, access to the data by a third party is not provided. The main focus should be removed from managing private keys. Unfortunately, none of the multicurrency crypto wallets of this type support XEM yet.

NEM Nano Wallet

"Light" application for a computer that does not require downloading the entire blockchain and long-term synchronization. Installation is possible on all major operating systems of the latest generations (OSX, Windows, Linux). The best wallet suitable for investors who are not going to set up supernodes to process new blocks of the network. The description of the products is on the official website, where you can download the client himself. There are two different options for creating a local nem wallet.

Simple wallet

It is a more reliable method and is therefore recommended by users. In addition to the private key, you must come up with a complex password yourself, which further improves security. With each visit, a new random private key is generated. The .wlt file should be immediately transferred to another (or several) offline media, it is necessary to restore access and is an additional means of protection.

Brain wallet

Allows you to log in in two ways, with and without a private key, but in any case with a password. This significantly reduces the degree of security, therefore it can be attacked and is not recommended.

There are no problems with how to install the nem wallet. In the process, you will need to register a new user or access existing funds. The developers are planning a full transition to NEM Nano Wallet, so the following are available:

multi-user accounts;
russian language;
subdomains and mosaics;
unique notarization service;
the ability to import data from NCC Wallet;
integration with Trezor.

An alternative would be NEM Node, which is designed for mining by creating supernodes. Details on how to open and work with this nem wallet can be found on the developers website.

Online services

Unfortunately, there are no web services for remote storage of cryptocurrencies yet. The only alternative might be trading floor accounts where you can buy XEM coins. But they should be used for temporary savings or for active trading. For storage, it is desirable to use a cold wallet for nem.

Mobile applications

The use of mobile devices is considered a hot store of value. Since there is a regular connection to the Internet and third party access to information. In this case, the private keys are located on the equipment itself. Online access and additional protection make applications very popular. The programs can be downloaded from the App Store for iOS and Google Play for Android. As in the desktop version, you can find out your personal address in a special tab.

NEM Wallet

The official nem xem wallet from the developers, which is only suitable for hosting one cryptocurrency. Allows you to carry out basic operations, monitor the balance. Additional ways to improve the security of the application are available, XEM Harvesting details, address book. User-friendly interface that is easy to work with intuitively. Communication can be carried out with both regular and encrypted messages.

Coinomi

Multicurrency Russified nem wallet, registration of which takes only a few minutes. The product is quite popular among users due to its support for more than 100 virtual currencies and 200 ether-based tokens, a pleasant design, and ease of use. In addition to basic functions, it is possible to convert cryptocurrencies in the application itself. You can create a recovery backup.

Hardware wallets

To ensure the maximum level of cryptocurrency security, special physical storage devices have been developed. They are convenient and easy to use and have a compact size. Their small screen allows you to view the balance, confirm transfers. Support for dozens of digital currencies, along with protection against malware and third-party access, make them a miniature Swiss bank.