Why should I use NEM when there is Bitcoin?
Bitcoin is purely a crypto currency, like many other digital coins. Some are application specific while some are purely currencies.
Apart from NEM being another crypto currency, NEM is a solution platform, there is more to offer as a platform.
As a crypto currency, it does not require a lot of computing power and energy to run a node.
NEM also advocates low entry barrier with Proof of Importance (POI) instead of the traditional ones that require a lot of stakes or computing power to mine. In NEM we call it harvesting. In addition, it also uses another solution, called Eigentrust ++ to validate and sieve out bad actors in the network.
As an evolving solution, NEM is setting the stage for better things to come.
CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over two million Australians. We make it easy to buy and sell NEM no matter what your trading experience is. Unlike other international and Australian NEM exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.
CoinSpot provides layered security and advanced support systems so you can buy NEM with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade NEM how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.
Storing on CoinSpot
Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your NEM for free.
If you are holding NEM as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.