XEM on Lykke Exchange

Lykke joins the list of crypto exchanges where users can buy NEM.

As of April 16th, Lykke Exchange will enable deposits, withdrawals and trading of the XEM cryptocurrency in the XEM/BTC and XEM/USD trading pairs. NEM is one of the top 25 cryptocurrency projects according to the market capitalization data and hence, XEM, its native asset, is a constituent of the LyCI crypto index.

NEM cryptocurrency profile — why NEM? In brief.

NEM is a project with corresponding cryptocurrency that was founded in 2015 in Malaysia. As was the case in the early stages of the crypto-movement, the NEM project was founded on the enthusiasm of its developers and the team decided to write the code for their platform from scratch. As a result, NEM is certainly unique. However, it does have a lot of competitors on the smart contract platforms scene. The question therefore remains, why is NEM a good investment?

Firstly, the NEM team has never been flagged as artificially pumping their cryptocurrency unlike others. It appears that other developer tasks are prioritized. Indeed, the main focus of the project as featured on the NEM website is the versatility of its blockchain and its multiple applications. The team is building a blockchain for real-life purposes: notary records, real estate, personal cryptocurrencies, crowdfunding, etc.

To distinguish itself from serious competition in these areas, NEM focuses on user experience and simplicity of its blockchain solutions. This is what the NEM Smart Asset System was designed for. In this private space on the NEM blockchain, clients can design their own smart assets and execution rules. NEM claims that the advantage of running a business’ micro economy on the NEM blockchain is its revolutionary consensus principle — the Proof of Importance — which you can learn more about on the official project website.

Moreover, on the project’s official website you will also find more information about the NEM ecosystem. While there are other assets on the NEM blockchain, we are currently listing only the native asset XEM.

Disclaimer

It’s important to note that only the non-encrypted message field is supported for deposits. In order to deposit XEM coins to your Lykke Wallet, users have to indicate their private ID code in the message field. Please use the “plain” message field and not “encrypted” so that your deposit is processed automatically and without the need to contact Lykke support.

About Lykke

Lykke is a movement to build a global marketplace for the free exchange of financial assets. By leveraging the power of emerging technology, our platform eliminates market inefficiencies, promotes equal access from anywhere in the world, and supports the trade of any object of value.