Are you thinking about buying or selling the cryptocurrency NEM? In this article, we will be teaching you everything that you will need to know in order to profit from the rise or fall of this electronic currency’s market value – whether you find yourself in the UK, or anywhere else in the world for that matter. Keep reading to learn more about the payment methods and the different brokers that you can use to make a profit investing with this cryptocurrency. If you have already made up your mind to invest, click here to begin buying and selling NEM CFDs with the online broker Plus500, without having to pay any commissions (76,4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money).
NEM stands for the New Economy Movement, which has its own cryptocurrency (XEM) and which operates by means of an innovative platform based on blockchain technology – the same technology used by other better-known cryptocurrencies such as Bitcoin.
How to buy/sell NEM in UK and anywhere else in the world
Whether you find yourself in UK, Ireland or anywhere else in the world, you can buy/sell NEM using a reliable and secure online broker, and this guide will explain how to do so. We recommend that you perform your trading operations with one of the most highly regarded brokers at the moment: Plus500. Since it is necessary to go through a broker in order to trade CFDs, the best thing for you to do is to choose an inexpensive broker, but one which is also secure. We are getting a little bit ahead of ourselves, but by the end of this article, you will understand how to trade cryptocurrencies with the broker of your choice.
If you are starting out in the world of buying and selling this cryptocurrency – the value of which continues to rise as I am writing this article – you should follow these steps:
- Visit the website of an online broker such as Plus500 (76,4% of retail CFD accounts lose money)– a broker about which you have done some research and which has been described by other users as being reliable and, ideally, economical.
- Click on the “Start trading now” button.
- Fill out the form with your personal information and desired login credentials.
- Click on the “Create account” link.
- You will now have an account. You will just need to fund it – by any of the available payment methods – before you can start trading NEM.
That’s it, you’re ready. In five easy steps you have just opened an account with an online broker which will allow you to buy and sell NEM. Creating an account does not force you to make any sort of payment, it is simply the first step in the process; when you feel that you are ready, you can make the minimum deposit required by the broker – generally 100 euros or dollars. From then on, you will be able to begin your experience in the world of online investment with cryptocurrencies.
Whenever you are ready to begin real money trading, the next thing that you will need to do is search through the list of the broker’s available CFDs and choose NEM from the cryptocurrencies section. After that, you will just need to select the quantity that you would like to trade and click on the buy/sell button.
One of the most significant advantages of trading with CFDs is that you don’t have to wait for the value of an asset to increase in order to make a profit on your investment – you always have the option of short-selling an asset. To do so you will need to click the “short-sell” button; it is best to do so before having bought any NEM, since you can first short-sell this asset before buying it. In doing so, even though NEM’s value may decrease, you will still earn a profit.
Similarly, it is possible to earn a profit no matter how NEM behaves. You will also be able to make use of leverage when investing in this cryptocurrency, that is to say, if you invest 100 euros, you will be able to trade as if you had invested 1 000 euros – this kind of trading implies greater risk, but also greater potential profit.
As we have just seen, it is possible to earn a profit whether NEM’s value increases or decreases. Now that you are aware of the possible investment options, you should also be aware of the different ways in which you can deposit money to your real money account so that you can begin buying and selling this cryptocurrency. Plus500 accepts all of the most popular payment methods in order to allow its users to deposit money into their accounts so that they can begin trading.
The payment methods accepted by Plus500 are:
- Visa and Mastercard credit and debit cards.
- Bank transfers.
In other words, you can transform the money that you have in your bank accounts into a positive balance in your brokerage account via a bank transfer or via your credit and debit cards. You can also transfer money from your PayPal or Skrill accounts to Plus500 in order to buy/sell NEM CFDs.
Price and value
The cryptocurrency market is constantly evolving. A cryptocurrency’s value can rise or fall when you least expect it; it is very difficult to predict the behavior of a particular market and to determine whether a particular asset’s value will increase or decrease. It is, however, possible to have a certain idea about how NEM’s value will behave and to know whether or not it is a good investment for you.
All investments imply a certain degree of risk which you should be aware of. While it is possible to earn a lot of money, it is also possible for you to lose money, and as an investor, you should be prepared for this reality. As far as NEM and other cryptocurrencies are concerned, its price depends on supply and demand, which means that if many people are trying to buy and few people are willing to sell, its price will increase; on the other hand, if there is a greater supply than demand, its price will drop.
NEM is, in reality, an ambitious blockchain-based project; it includes a cryptocurrency (XEM), but also a “peer to peer” platform for the execution of services such as messaging, payments, etc.
NEM’s XEM cryptocurrency can be used for all kinds of transactions and is considered to be the first “social” cryptocurrency due to the fact that anyone can profit from it, which is why small investors are eager to invest in it. Large corporations are also opting for NEM, including Japan’s cryptocurrency exchange company Zaif Exchance, which added XEM to its platform last year.
As you can see, the idea of NEM has been a success, and its continued growth has not gone unnoticed in the world of online investments. In fact, it is in fourth place in terms of the cryptocurrencies with the greatest market capitalization, only surpassed by Bitcoin, Zcash, Bitcoin Cash, Monero, Ethereum, and Ripple; it now has the same importance as Litecoin and Dash, in other words, it has a great deal of potential.
In 2017, its increase in value was even more significant, which suggests that it will continue to increase in value during the remainder of the year and that it will probably continue to do so over the next few years. The trend up until now would suggest that an ever-increasing number of people are interested in acquiring NEM, meaning that its price will continue to rise. However, like for any investment, this is only a predictive theory which could easily change; this uncertainty is essentially what trading is all about.
Which online broker should you choose?
Earlier, we mentioned that we would arrive at a point when we would discuss the online broker best suited for trading NEM. We feel that the best option at the moment is the broker which has distinguished itself the most this year in all forms of trading, including trading with cryptocurrencies.
We are of course speaking about Plus500, which allows its users to buy and sell NEM and which currently has more tradable assets and positive characteristics than any of the competing brokers on the market. For trading NEM via CFDs, you need an online broker, and Plus500 is the most economical, secure and reliable broker available.
Why should you consider Plus500 to be your broker for trading NEM? For several reasons, the main one being that it is a safe and reliable broker. At least as safe and reliable as an online broker can be. If you already have any experience with online investment, you will know that it is impossible to state that any broker is 100% secure, but there are some aspects that we can analyze to determine whether a particular broker is a scam or not.
In our opinion, Plus500 is one of the most reliable online brokers that allows cryptocurrency trading. And we don´t just think this because it is becoming more famous all the time, but rather because the opinions expressed by its clients from around the world and its high level of regulation both attest to this fact. We give it a positive rating because its operations are regulated by prestigious regulatory bodies located within the European Union.
When trying to evaluate a broker´s reliability, this is a key aspect to look for since European and American regulatory bodies have the best reputation. For example, Plus500UK Ltd is authorized & regulated by the FCA (#509909). This oversight is a source of confidence for Plus500’s clients especially since Plus500 Ltd is listed on the Main Market of the London Stock Exchange. Being a publicly listed company is another reason for considering Plus500 to be secure and reliable since companies listed on the stock exchange must frequently be audited and must make information concerning their accounts and earnings public – making it very difficult for them to hide any fraudulent activity.
Plus500 is also one of the best options because it offers a wide range of tradable assets. And of course, because it allows its users to perform transactions with cryptocurrencies such as Bitcoin, Ethereum, Ripple as well as many others. Another reason for buying NEM with Plus500 is that it is one of the few brokers that does not charge any commissions to its clients for each transaction that they perform. This is not to say that they offer a free service, but rather that they make a profit based on a system of differentials – or spreads – which are the difference in price between what an asset can be bought and sold for; in general Plus500’s spreads are much lower than those charged by its competitors.
The third major advantage of Plus500 is its incomparable demo account. It is considered to be among the best currently available on the market because it offers clients the possibility to practice investing as if they were investing real money – they can do so without any sort of time limit or limit to the amount of virtual currency that they are allowed to invest. This type of trading simulator really helps clients familiarize themselves with the broker’s trading platform as well as with the behavior of the assets on the market. In this way, clients can practice buying and selling NEM in a virtual environment and observe how this cryptocurrency’s value varies over time.
If you have taken the decision to begin buying NEM – or short-selling it if you consider that its value will drop in the future – we would just like to remind you once again that all forms of investment have inherent risk as well as potential reward. We recommend that you take a good look at how this cryptocurrency’s value evolves over time and that you take advantage of a demo account in order to learn how to use the trading platform that you have selected. We would also like to remind you that you will need to choose a broker and that in our opinion, the best option is Plus500 due to the three aspects we discussed earlier: its security, reliability and regulation; the fact that it does not charge any commissions; and its unlimited and good-quality demo account which will allow you to practice before investing any of your own money. If you would like to trade NEM, click here to go directly to Plus500’s website and begin trading without paying any commissions (76,4% of retail CFD accounts lose money).