NEM as payment option

NEM is a cryptocurrency payment option, Secure and reliable online payment, NOT for online gambling

NEM payment option

NEM is a cryptocurrency payment option that is becoming increasingly popular amongst online gamblers. The network is designed to be secure, fast, and transparent, making it an ideal choice for those looking to make payments and transfers online.

NEM is the abbreviation of the ´New Economy Movement´. NEM has its own currency, called XEM. NEM also supports a cryptocurrency wallet called Nano wallet.

NEM aims to build a ´better´ blockchain, and it tries to achieve that using two key concepts of proof-of-importance (POI) and harvesting.

More specific: other cryptocurrency networks, like Bitcoin, use a proof-of-work (POW) or proof-of-stake (POS) system, which requires a mining device to work for the blockchain. The rewards are allocated to the miners based on their work contributions.

NEM addresses the issue using its POI mechanism. One needs to hold 10,000 vested XEMs in your wallet to qualify for generating and earning new blocks and for earning various transaction fees.

The Bottom Line

NEM can be considered as a new-age blockchain that has opened up a wide variety of possibilities for building better and improved blockchain systems.

However, our advice is not to use it for online gambling. Not only is it virtually impossible to do that, it is also not the initial intention of the NEM system.

We will therefore not delve further into the NEM matter here. Our advice is not to use it for online gambling. Not only is it virtually impossible to do that, it is also not the initial intention of the NEM system.
Players who want to gamble with crypto´s have plenty of options for doing so. If you want to know more about crypto gambling, check out our list of Crypto casinos. Good luck!

Or read our article about Bitcoin miners, and About bitcoin casinos.