Bitpanda Crypto Exchange Adds NEM Blockchain (XEM) Coin Trading Options
NEM (XEM) Can Now Be Used For Trading On Bitpanda
In a Twitter announcement on the 23rd of August, 2018, NEM (XEM) revealed that its coin was now available for trading on Europe’s leading crypto exchange Bitpanda. This statement aligns with what Bitpanda had already announced earlier in the month where they announced that there were plans to list XEM coin on their exchange.
Based on the most recent data from CoinMarketCap, XEM is one of the well-performing crypto coins with a rank of #17 on digital currency charts. This cryptocurrency is priced at $0.09, and it has an $876 million-dollar market cap.
NEM is an independent, decentralised ledger technology system that works as a robust permissioned private chain. The system provides efficient transaction rates and services for all internal ledgers. The NEM solution is founded on the bases of POI consensus, which is a unique algorithm that utilises network theory and allocates a custom rating to every client’s account based on their value within the network.
Vienna based crypto exchange company, Bitpanda is an automated platform where clients can sell and buy various cryptocurrencies like Bitcoin, Ripple and Ethereum among others. The fact that it is entirely automatic means that once the system confirms that a client has sent the payment, the necessary cryptocurrencies are immediately disbursed to the buyer thus allowing for efficient services.
Bitpanda has rapidly developed ever since it was launched and it is now considered as one of the leading retail brokers for virtual currencies in Europe with close to a million users.
Industry Reaction And Global Expansion
Bitpanda first announced that there were going to list NEM (XEM) on their exchange on August 14, 2018. It was a noteworthy moment since the price of NEM immediately rose, which benefited the holders of this cryptocurrency. The rate rose to $0.012 while the market cap increased to 1 billion dollars after the Bitpanda announcement on Twitter. Most users on Twitter were pleased about the ability to trade NEM on Bitpanda.
The XEM coin was also recently listed on Coinspot, an Australian exchange platform, as the NEM organisation pushes to secure further growth of its crypto coin and blockchain system within the continent. In the same week, the NEM Australia hub was being launched, the NEM team in the Philippines was signing a partnership with a local university to build a blockchain research laboratory, the Amber Lab.