NEM
$0.03 -3.02%
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Nem was created as a result of a fork from Nxt, a blockchain based decentralized payment platform. After the fork, Nem got updated so that it would become faster and more scalable. Nem is mostly used for various digital transfers of assets such as contracts, tokens and even files. It is also used for linking private businesses, individuals or parties together. For example, you currently cannot send your money directly from Venmo to PayPal. Nem’s blockchain, the NIS1, enables users to do just that.
Additionally, Nem is also used for record keeping, creating, trading and distributing crypto tokens, and as a management system. Nem has its own wallet where you can perform various activities.
Usual fee price per transaction for Nem is 0.05 XEM for every 10,000 XEM transferred. However, the maximum fee price is limited to 1.25 XEM per transaction, which is currently only $0.125. The fees on Nem’s blockchain are extremely low when compared to other blockchains such as Ethereum, for example.
Nem had two big bull runs; one in mid-2018 when it reached its all-time high at $1.84, and the other one in early 2021. Currently, 1 XEM is worth about $0.1. The fees are directly correlated to the value of XEM, but the value of this cryptocurrency is currently so low that fees are almost non-existent.
There are no Nem NFTs that we are aware of yet. But stay tuned – this is a fast growing area and if XEM adds NFTs, you will be able to find this information right here!
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