NEM (CURRENCY:XEM) traded 5.7% lower against the dollar during the twenty-four hour period ending at 8:00 AM ET on February 9th. In the last week, NEM has traded 1.2% higher against the dollar. One NEM coin can currently be bought for about $0.54 or 0.00006550 BTC on exchanges including COSS, Poloniex, Cryptomate and Qryptos. NEM has a total market cap of $4.85 billion and approximately $40.72 million worth of NEM was traded on exchanges in the last 24 hours.

NEM Profile

NEM is a proof-of-importance (PoI) coin that uses the ProofofImportance hashing algorithm. It was first traded on March 31st, 2015. NEM’s total supply is 8,999,999,999 coins. NEM’s official Twitter account is @NEMofficial and its Facebook page is accessible here. The official website for NEM is nem.io. The official message board for NEM is forum.nem.io. The Reddit community for NEM is /r/nem and the currency’s Github account can be viewed here.

According to CryptoCompare, “NEM is a peer-to-peer crypto platform. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014. NEM finally launched on May 31, 2015.”

Buying and Selling NEM

NEM can be purchased on these cryptocurrency exchanges: Cryptomate, Upbit, Bittrex, Qryptos, Livecoin, HitBTC, Poloniex, AEX, Abucoins, COSS, Bitcoin Indonesia, Exrates, Cryptopia, OKEx, YoBit, LiteBit.eu and Zaif. It is not presently possible to buy NEM directly using U.S. dollars. Investors seeking to acquire NEM must first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy NEM using one of the aforementioned exchanges.

Receive News & Updates for NEM Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for NEM and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.