Buying NEM is very easy these days. If you want, you can use cash, card – even PayPal! However, you still need to follow a few steps to do it – that’s why we made this easy tutorial for you! It is separated into parts – just follow the one that matches your purchase method.
- Buy NEM with Credit Card or Debit Card
- Keep your NEM secure with hardware wallet
- Frequently Asked Questions about NEM
How to Buy NEM with Credit Card or Debit Card?
No matter what people say, it’s easy to buy NEM with a credit card.
Your first step will always be buying Bitcoins or Ethereum with your credit card. They can then be converted to NEM.
Follow these steps:
- Buy Bitcoin or Etherium at an exchange you like.
- Transfer Bitcoin or Etherium to an exchange that supports NEM currency.
- Finally, exchange Bitcoin or Etherium to NEM.
Please follow our step by step guide bellow to buy NEM.
1. Create an Account on Coinbase
To buy Ethereum from Coinbase – which you will exchange for NEM (XEM) later – you have to create an account at Coinbase. Click this link here to create an account .
Click ‘sign up‘ button and fill out the form. Enter your name (it has to be exactly the same as it’s written on your photo ID), email, password and location.
Coinbase is regulated by the US government and follows strict financial rules. As such, they have to verify your identity. It takes some time and effort, however, this makes Coinbase the reputation of the must trustworthy way to convert regular currency into cryptocurrency.
Verify The Coinbase Account
Since Coinbase needs to verify your account, you have to give them your phone number, upload an image of your photo ID and verify your card (credit or debit) or back account. Only then will you be able to buy cryptocurency.
If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It is cheaper to use bank transfers, but it is slow – it can take up to a week to get your coins.
When your payment details are verified, click ‘buy/sell’ button on the top menu.
Select ‘Ethereum’, and enter how much money you want to spend/how many coins you want to buy in the windows on the bottom of the page.
Once you have done that, click the ‘Buy‘ button.
You will now have to confirm you purchase.
Do this by pressing the ‘Confirm Buy‘ button.
You now own some Ethereum. However, don’t close Coinbase yet – we’re going to use it later!
2. Create A Livecoin Account
In this case, we’ll use Livecoin service to trade your Ethereum for NEM.
Note: Livecoin allows you to buy coins directly with Dollars, Euros and Rubles, but this comes with high fees. Buying Etherium on Coinbase and then exchanging it for NEM on Livecoin is much more efficient.
Click this link to go to Livecoin, and once you’re in the website, click the red ‘Open a trade account‘ button on the top right.
As usual when creating an account, create a username, a strong password and enter your email address.
The page will inform you that a confirmation code was emailed to you. Don’t close Livecoin.
Go to your email account and open that letter (if you can’t find it, check your spam/junk folders). Copy the code from the email and paste into the box on Livecoin.
You will have successfully activated your account.
Use your email address and password to log-in to Livecoin.
The website will then ask you to enter a 4-digit PIN code. It will be used to verify your transactions when you withdraw coins.
Note: While you will able to change the PIN in the future, changing it will prevent you from withdrawing coins for 10 days. Make sure you don’t forget the PIN!
3. Get Ethereum Wallet Address From Livecoin
On Livecoin, click ‘Balance’ on the top menu.
Scroll down until you see ‘CRYPTOCURRENCY BALANCE’. Type ‘Ethereum’ in the search box.
The coin list should narrow down and show Ethereum. Click the ‘DEPOSIT’ button beside it.
Note: Make sure you actually selected Ethereum (ETH) – sending the coins to the wrong wallet will destroy them.
You will see a pop-up with a list of conditions. Read them, understand them, and tick the boxes next to them. Then click ‘Show address.’
Press the blue ‘Copy’ to copy the address to your computer memory. Not that it doesn’t save the address on your computer – it only lets you paste it.
4. Transfer Etherium From Coinbase To Livecoin
Return to the Coinbase website.
Click ‘Accounts’ on the top menu bar and find your Ethereum wallet – it should be listed on the left.
Paste the Ethereum wallet address you just copied from Livecoin into the ‘Recepient’ box.
Type in how much Ethereum you wish to transfer in the ‘Amount’ box (use the ‘use max’ option if you want to transfer everything).
Coinbase may then ask you to confirm the order with your password/phone. Follow the instructions until Coinbase confirms that the Ethereum coins have been sent.
You will have to wait for a few minutes for the Ethereum coins to be move to Livecoin.
Usually, it takes between 40 and 60 minutes for coins to appear in your Livecoin wallet. This depends on network load and it might take longer during busy times. Don’t panic.
Close the pop-up with your address to see your balance. Refresh the page to see if the funds have been transfered. You will also receive an email notifying you of the transaction.
5. Exchange Ethereum For NEM (XEM)
Once your ‘Available’ balance shows that Ethereum has arrived, you are read to trade it for NEM.
Click this link to go directly to the Livecoin XEM/ETH exchange market. The page can take 10-15 seconds to load – be patient!
Don’t feel overwhelmed – we won’t be using the entire page.
You now need to find the ‘Switch to market order’ button under ‘BUY XEM FOR ETH’ and click it.
There is a display next to that button; it tells you how much ETH you have and can trade. Click it.
You will see the maximum amount of XEM you can buy for your ETH in the ‘You get’ box. Edit the ETH number if you don’t want to use all of your Etherium funds in this transaction.
Click ‘BUY XEM’ once you’re happy with the transaction.
You’re now the proud owner of some amount of NEM!
Secure NEM (XEM) Hardware Wallet:
Cryptocurrency Exchanges are always on hackers radar, so it’s always safer to keep your cryptocurrency in a wallet.
Ledger Nano S
- Supports Multi-Currency
- Built-in Display
- Multi Apps
- Backup & Restoration
Frequently Asked Questions
Can I Buy NEM With PayPal?
You cannot directly buy NEM with PayPal at this time. If you wish to use PayPal, you will have to buy bitcoin first and then exchange bitcoins for XEM by using a service like Binance.
Can I Buy XEM With Cash?
You cannot directly buy NEM with cash. Even if some ATMs support NEM, they are less than 1% of all cryptocurrency ATMs.
If you want to buy with cash, you will have to buy bitcoin first and then exchange bitcoins for XEM using a service like Binance.
Can I Buy NEM With Bitcoin?
Yes, you can do that easily by using Binance to exchange bitcoins for NEM.
Can I Buy XEM With Skrill
Europeans can use BitPanda to buy bitcoins or ethereum with Skrill. Ethereum or BTC can then be converted into NEM on Binance.
Can I Buy NEM With Ethereum
Yes, you can do that easily by using Binance to exchange Ethereum for NEM.
Which is the best payment method to use?
The cheapest way to do it is to buy bitcoins with bank account (or NEM directly with bank account) and exchange the BTC for NEM.
The fastest way is to buy NEM with a credit card, but you will be charged higher fees.
How Can I Protect XEM Once I Purchase It?
You should store your NEM in a secure wallet. Leaving NEM on an exchange just puts you at risk of losing money if the exchange gets hacked. Your account could also get hacked, which is why it’s important to use 2FA.
How Can I Sell NEM (XEM)?
Binance and Changelly are good places to exchange your XEM to any other cryptocurrency. If you want to exchange it to regular currency, trader XEM for bitcoin and exchange BTC into dollars, euro, or other currencies.
Can I Mine NEM Instead Of Buying It?
You cannot mine NEM as it has a different network structure than Bitcoin. You can only purchase NEM from an exchange.