In this article, we will be going over the steps to purchase NEM (XEM) on the Binance exchange.
The how to buy nem coin is a question that has been asked for years. In this article, we will take you through the steps of buying XEM in 2021.
Developers have been designing new blockchains to improve and expand on existing technology since early blockchains like Bitcoin and Ethereum began to show their limitations (no support for smart contracts in the former, low transaction speeds, and low scalability for both), making this an exciting time in the blockchain world. NEM is one of the younger generation blockchains. If you’ve heard of this project (it’s been generating a lot of buzz lately) and want to learn how to purchase NEM, keep reading for a step-by-step instruction.
This is the title of the box
1. Visit Binance’s website. 2. Select “Wallet” and then “Fiat and Spot.” 3. Select “Deposit” from the drop-down menu. 4. Select the coin you wish to deposit from the drop-down list by clicking on the “Crypto tab.” 5. Scan the QR code or copy your Binance wallet address. 6. Deposit your cryptocurrency into your Binance wallet. 7. In Binance’s top ribbon, choose “Markets.” 8. Under the search box, enter “XEM” in the “ALL markets” tab. 9. Select the trade pair you wish to use from the drop-down menu. 10. In the “Total” box, enter the amount you wish to spend and verify how much NEM you’ll get. 11. Select “Buy XEM” from the drop-down menu.
Top 5 Exchanges to Purchase NEM (XEM)
Crypto exchanges are where you may buy, sell, and trade cryptocurrencies. However, there are hundreds of active exchanges. Some are very big, while others are considerably smaller. Some are trustworthy and have a good reputation, while others are dodgy. Some exchanges feature just a few tokens, while others deal in thousands. There are hundreds of thousands of cryptocurrencies, and there are hundreds of thousands of tokens. The options are almost limitless, therefore we must first figure out where we want to go before learning how to purchase NEM.
To find out where to go, go to www.coinmarketcap.com and search for “NEM” or its ticker symbol “XEM” in the top right search box. Select the relevant search result by clicking on it.
This is the NEM token’s landing page on Coinmarketcap. It displays the current price, whether it has been rising or falling recently, a price chart, and other useful information. This is all useful background knowledge, but we need to know where we can acquire some NEM right now. Select “Market” from the drop-down menu.
The Market page will provide a list of XEM trading pairs, ordered by trading volume from highest to lowest. Each item also specifies which exchange is responsible for each. You’ll probably note that several exchanges appear on the list more than once. This simply implies that those exchanges, in this instance, provide more than one trading pair with NEM. The No. 2 and No. 3 trading pairs, for example, are available on Binance. Let’s take a look at the top five markets:
As a result, Upbit has the most popular trading pair across all exchanges in terms of volume. That pair, however, is for Korean Won. So, unless you reside in South Korea or have a Won account, you won’t be able to use that exchange. Because there are limited trading pairings with fiat currencies, you’ll almost certainly have to rely on crypto tokens you currently possess. Binance, the world’s largest cryptocurrency exchange, is next on the list. We may purchase NEM on Binance using USDT, the most popular trading pair on that exchange and the second most popular worldwide.
Now that we know where to purchase NEM, it’s time to figure out how to get it.
How to Buy NEM: A Step-by-Step Guide
As previously said, we’ll utilize Binance’s XEM/USDT trading pair as an example. Let’s suppose you wish to purchase NEM for 100 USDT.
Step 1: Open a Binance account.
If you already have a Binance account, you may skip to step 2. If not, keep reading.
Go to www.binance.com and click the yellow “Register” button at the top right of the website.
Binance allows you to establish an account using one of two methods: email or mobile. Because email is the more conventional way and mobile is still restricted to a few nations, let’s go with email. Fill in your e-mail address and a safe password (using the word “password” is a no-no), then click “Create account” and follow the on-screen instructions until your account is active and confirmed. Please take advantage of this opportunity to enable two-factor authentication (2FA). You should always use every security technique available to you.
Step 2: Put Money Into Your Account
Your Binance account is ready to use, but it is currently empty, and we will need to finance it. We’ll need to acquire some USDT in this scenario. You’ll do this by transferring USDT tokens from your personal wallet (where they should be kept) to your Binance USDT wallet.
After login into your Binance account, choose “Fiat and Spot” from the drop-down menu under the “Wallet” icon on the top ribbon.
This is where you’ll find all of your spot wallets. The key question is how much your whole Binance account’s tokens are worth. To put it another way, your overall Binance balance. Because we’re going to fund your account, scroll to the top of the page and click the “Deposit” button.
Click the “Crypto” option since we’ll be depositing USDT in this tutorial.
You may choose the cryptocurrency you wish to deposit from a drop-down menu on this page. Select USDT by clicking on it. On the right side, just below a QR code, you’ll see your USDT wallet address. You have the option of copying your wallet address to the clipboard or scanning the QR code. Both methods are equally effective.
Now open your own wallet and send USDT to the address provided above. After all network confirmations have been completed, your USDT will be in Binance in a few minutes, ready for you to purchase XEM.
Step 3: Investing in NEM
We have yet to purchase anything at this time. We’ve just completed a successful money transfer between two of your accounts. It’s similar to transferring funds across accounts at two separate banks. However, the moment has come to make a purchase. It’s time to get your hands on some NEM. All transactions take occur on the exchange’s marketplace, therefore that’s where you should go. In the top ribbon, choose “Markets.”
This is when things become a bit difficult. Binance provides tabs to help you navigate the BNB, BTC, ALTS, and Fiat markets. USDT may seem to be part of ALTS markets, but since it’s a dollar-pegged stablecoin, it’s really part of “Fiat markets.” So go to that tab and enter “XEM” in the right-hand search box. The XEM/USDT pair will be shown. We’re going to purchase 100 USDT worth of XEM, so go ahead and click on it.
This is the XEM/USDT trading pair’s market page. Don’t be alarmed by the slew of numbers at the top of the page. This data is for advanced trading and more in-depth research. For a basic purchase, none of this is required. Scroll down to the bottom to find what you’re looking for.
The right-hand column of buttons allows you to sell whatever NEM you possess for USDT, which is exactly what we don’t want to do right now. We’re going to concentrate on the left-hand column. Fill in the “Total” box with the amount of USDT you wish to spend. In this case, it’s 100 USDT. We can see that after entering “100” in the “Total” field, we will get 184.09 XEM tokens. After you’ve filled out all of the fields, click the green “Buy XEM” button to finish the transaction. Your NEM tokens will be in your Binance wallet in a matter of minutes.
You’ve just purchased about 184 NEM coins. As you can see, the procedure isn’t quite as complicated or time-consuming as some may lead you to think.
The Best Wallets for XEM
Your exchange wallet still contains the XEM you just purchased. That’s plenty for day-to-day trade. However, if you’re an investor or want to keep NEM for a long time, you should move your funds to a personal wallet as soon as feasible.
The following are a some of the finest XEM wallets:
Hardware wallets provide the most security and are the ideal option for serious investors and/or long-term holders. However, whether you’re just getting started or want to use your crypto tokens as real money software, wallets are both safe and handy. Among the software wallets, the NEM Mobile Wallet stands out for its ease of installation and setup, as well as its clear, easy-to-understand user interface.
NEM Detailed Information [FAQs]
What exactly is NEM?
NEM (short for “New Economic Movement”) is a blockchain that supports smart contracts and was introduced in 2015. It was created to be a better Ethereum blockchain for both consumers and developers. Despite having a strong technological background, advertising has proven to be a challenge, and the initiative hasn’t been as successful as it might have been. The native coin of the NEM blockchain is XEM.
Is it a Good Idea to Invest in NEM?
At the time of writing, one XEM toke is worth approximately 0.55 USD, having dropped 73 percent from its all-time high on January 3rd, 2018. However, throughout the first several months of 2021, prices have been gradually rising. The problem is that there are a lot of “better Ethereum” projects out there, and it’s still too early to determine which will succeed, which is a crucial element of a cryptocurrency’s worth. Experts have differing viewpoints. Some people think NEM is still a smart investment right now, while others say it will collapse in 2021.
The future of NEM is uncertain. While it offers certain advantages over the older Ethereum, it faces stiff competition from other smart-contract-capable blockchains, as well as Ethereum itself, as they move to Ethereum 2.0. NEM has the potential to be a fantastic investment, but it’s high-risk since it may all come tumbling down at any time. However, if you want to invest in this enterprise, you now know how to purchase NEM. What are your thoughts? Do you think NEM can still find a home among the next-generation blockchains? Do you have any plans to invest in NEM? Please let us know in the comments section.
The where to buy xem is a question that has been asked many times. In this blog, we will go through the steps of how to buy NEM (XEM) in 2021.
Frequently Asked Questions
How do I get NEM XEM?
NEM is a cryptocurrency that you can get by mining, trading, or purchasing. You can also use your credit card to purchase it at https://www.nemcoin.com/buy-xem/.
How do I buy NEM Crypto?
You can buy NEM with a credit card, cryptocurrency exchange, or purchase it directly from the website.
What exchange can I buy NEM?
There are many different exchanges that you can buy NEM on. You can find a list of them here.
- can i buy nem on coinbase
- where to buy nem in usa
- xem on coinbase
- should i buy nem crypto