Standard money can be either kept in bank accounts or in one’s personal wallet, but because cryptocurrencies are digit assets, getting hold of the physical coin can be challenging. This is why most people keep them stored within their respective exchange accounts, whether it is Binance, Cryptopia or even Coinsquare. The downside with keeping them online is one’s ability to hack into the entire system. Fortunately, a wide range of wallets have been create to securely store one’s cryptocurrencies; one of them being the NEM Nano Wallet.
What Is The NEM Nano Wallet?
NEM is the first of its kind because of its Smart Asset blockchain. Its purpose to serve as a management tool for tangible and nonphysical assets including currencies, supply chains, health records, patents, and ownerships to name the least. Some of its notable features are believed to be the domain-like namespaces, full on-blockchain multi-signature control and simple yet easy to use API, which can be easily assimilated into applications.
NEM Nano Wallet Potential Advantages
The idea of cryptocurrency is relatively new, hence understanding fundamental concepts can be tough. The NEM Nano Wallet is believed to be designed in an easy-to-understand manner. Next, its API interface has been proclaimed as suitable for any existing programming language. Most importantly, it can secure transactions, which is fundamental to consider with digital assets. In particular, its use of the Eigentrust++ and incentivized public node network strengthens the overall platform.
How To Use, Spend & HODL XEM Tokens In The NEM Nano Wallet
In order to make use of the NEM Nano Wallet, one must download and install it onto a computer. The zip file must be extracted to create individual wallets. What makes it preferable is its simplicity, as consumers are not required to verify their identity, which secures the overall goal of anonymity of users. Of all the steps, the one that many should keep an eye out for is the private key to the wallet. Without it, access to the funds will be lost permanently.
What Can Be Said About The XEM Token?
While NEM is a type of blockchain, the token itself goes by the name of XEM, which was initially released in March of 2015. What started off as a fork, eventually went through the development needed to strive as both a blockchain and token. XEM’s growth has been substantial, as it rose from as little as $0.03 per token to an outstanding $1.19. Its current market capacity is close to $10 billion, with as much as 9 billion XEM tokens currently in circulation. The highest it has ever reached is approximately $2.36.
NEM Nano Wallet Final Thoughts
Overall, the NEM Nano Wallet is something worth considering, as it can secure one’s cryptocurrencies. While it might not make a whole lot of a difference to those who are either new to trading or not willing to take risks, those who are full time traders should make use of it, as it is a safer option as opposed to keeping them in exchange sites. In particular, its token, the XEM, is believed to strive, as it has seen growth within its two years of existence. Lastly, many have been bullish in terms of the future predictions of XEM, which is certain to positively influence the entire NEM blockchain as well.