What Is NEM?

NEM (XEM), which stands for ‘New Economy Movement’, is a decentralized open-source cryptocurrency and the native token of the NEM Foundation, which was founded by Erik Van Himbergen, Jeff McDonald, Lon Wong, and Leon Yeoh in 2017, two years after three anonymous developers, known only by their online identities as Jaguar0625, BloodyRookie, and gimre launched the original NEM (XEM) platform. Unique to NEM is its Proof-of-Important (PoI) algorithm in which token holders in possession of more than 10,000 XEM receive an importance rating, a score that in turn rewards them for mining. See below for a full selection of markets where you can trade NEM for other cryptocurrencies, US dollars, and other fiat currencies.