Our NEM price charts are an easy reference for current NEM prices. In addition to displaying the current live NEM price, our interactive charts allow you to examine historical NEM prices.
Above live NEM price charts. These charts can be viewed using multiple time frames, and may be useful for spotting price trends in the market or for identifying potential areas of price support and resistance. We also offer pricing charts for ethereum prices, litecoin prices, ripple prices, dash prices, bitcoin cash prices, monero prices, iota prices, and bitcoin prices.
NEM is a peer-to-peer cryptocurrency network that utilizes blockchain technology. NEM has added various features to its blockchain technology including multisignature accounts, an Eigentrust ++ reputation system, proof-of-importance algorithm and encrypted messaging. NEM was introduced in March of 2015. Like other cryptocurrencies, NEM is decentralized and has a limited number of blocks that can be produced.
NEM uses a blockchain technology called Mijin. This technology reportedly has the capability to cut institutional banking costs by as much as 90 percent, while also potentially making banking more secure. The technology is already being tested by various companies and financial institutions to determine viability.
NEM and other cryptocurrencies can be used to facilitate and record transactions. These technologies provide a reportedly secure, low-cost alternative to more traditional payment methods. NEM and other cryptos can be used to purchase both goods and services, and can also be used to send or receive payments anywhere on the globe. Although some merchants currently accept NEM and/or other cryptos, these currencies are still in the earliest stages of becoming more mainstream.
The cryptocurrency market is only at the beginning of what could become a journey to prominence. These currencies have the potential to gain a significant market share in the years and decades ahead, and investors appear to recognize that potential. Another major factor for investors might be the fact that most cryptos have a limited number of coins, tokens or units that can be mined or produced. Because of this, they may potentially hold their value over time. This is in large contrast to fiat currencies, where supply can be expanded or contracted by central banks. Of course, due to their potential for more widespread acceptance in addition to their limited supply; investors are also interested in potential price appreciation.
Many cryptocurrencies are now listed on multiple exchanges, and technically can be bought and sold on a short-term basis. Active trading in these markets has numerous challenges, however, that could improve with increased trading volumes and liquidity. The idea of trading cryptocurrencies has become increasingly popular, and various exchanges have been taking notice. The CME Group and The Chicago Board Options Exchange both recently listed derivatives contracts based on cryptocurrencies, and additional products could be launched in the future as cryptos become increasingly popular.
Charts can be a useful tool for both traders and investors. A long-term investor may use charts to determine price trends, or to spot technically significant price patterns. A long-term investor may, for example, use charts to buy or add to positions on any significant pullbacks in price.
The cryptocurrency market is currently unregulated for the most part. Some nations, like South Korea, have introduced some degree of regulation recently in the form of additional account documentation requirements. As these currencies gain in popularity with investors, there is the possibility of additional regulatory action. The notion of further regulatory requirements is an important one, and this is an issue that will likely be near the top of the list for cryptocurrency investors as these assets become more widespread and potentially more “mainstream.” They are very likely to draw more scrutiny as they potentially gain market share in the global payments arena.
NEM and other cryptocurrencies can potentially offer a cost effective, convenient and secure global payment solution. Payments made using cryptos may cost less than more traditional methods such as bank wire or ACH. When sending funds internationally, they also do not require a currency conversion. There are also no foreign transaction fees, which are commonly charged by credit card providers.
Not only may payments made using cryptos be less expensive, but they may also be faster-way faster. Many crypto payments settle in a matter of minutes. This is light speed compared to some check and electronic payments, which can take from 14 to 30 days to fully settle and clear.
Cryptos may also offer additional security, and as they build a longer track record of security and reliability more and more participants may look to join these networks.