The masses are finally aware of the crypto-craze and have taken to the internet to make purchases with the hope of a handsome profit. And Bitcoin remains the most famous cryptocurrency to date despite the numerous additions over the past few years. NEM (XEM), being the seventh-largest cryptocurrency, has all the capabilities of becoming the largest in the next few years.
NEM is currently trading at $0.208119, a meager rate compared to some of the cryptocurrencies mentioned above making it a good investment for the future. It is also worth noting that this currency trades under the name XEM coin and not NEM. While it’s relatively unknown to many people, NEM has some of the best and latest blockchain features as well as technology. These innovations aided NEM in recording eight weeks of consecutive gains from November 2017 until January 2017.
Is NEM worth the risk?
It might be less than two years old, but NEM is among the most talked-about cryptocurrencies currently on the market. Its high profitability also makes it a good investment seeing it increased 5,950% year-to-date in a year (2017). During the first quarter after its launch in 2017, XEM coin hit $0.29314 before falling to $0.090656 after a little turbulence. However, this decline only paved the way for another sharp ascent in value to $0.349178, which as expected was followed by another decline.
However, NEM (XEM) has gathered a steady pace from around October 2017 until now as its price hovers between $0.20 and $0.21. While investing in this cryptocurrency is a smart move at the moment, investors need to know that its rise to the upper echelon of cryptocurrency will not be smooth at all. Cryptocurrency is a new venture that is yet to be embraced by everyone in society. As such, it is at an experimental phase despite the millions people are making from this innovation.
Bitcoin is an excellent example of how unstable cryptocurrency might be following its sudden decline in value over the last few months. Many investors are reported to have lost millions while others are scrambling to buy the cryptocurrency at standardized rates now that its value is not as high as it was in early 2017. However, the cryptocurrency is finding its feet, and soon it will be back at the top unless more people become aware of the other options present such as NEM.
While there are days when crypto movement spikes to up to 15% or even go as low as 5%, these fluctuations mean nothing to NEM as it keeps rising in value. You can make a lot of returns from the XEM coin especially if you are patient enough to wait for the rough periods to pass. Most people quickly withdraw their tokens or sell them to others the minute the crypto they invested in starts fumbling.
That being said, these fluctuations are experienced by every single cryptocurrency. Their value still rises, in the long run, making even more profit for the patient investors. As a by the way, NEM has made a lot of people rich over the last months and is considered ten times more efficient than bitcoin. It might be relatively unknown, but NEM (XEM) is user-friendly and has more user cases than Bitcoin. A worthy investment if you ask me.