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The NEM blockchain was created to serve as a dApp development platform, similar to Ethereum, but written in JavaScript. Its native coin is NEM (XEM). Holders of XEM will need to understand how to find the best NEM wallet to store their investment. The right wallet combines usability and security—vital needs for any NEM holder.
Source: coingecko.com
1. NEM Nano Wallet
NEM Wallet Website: https://nem.io/downloads/
NEM Wallet Type: Desktop, compatible with Mac, Windows and Linux
Ease of Use: Medium
Safe: Moderate
Cost: Free
NEM NANO wallet is a desktop wallet which can be installed and used on most major platforms, such as Mac, Windows and Linux operating systems. The wallet allows users to store and manage XEM coins easily. Other features include good security, sending messages and mosaics to any address or namespace.
The setup and interface of the wallet are appropriate for beginner users as well. Multi-signature and multi-user accounts are supported, and the private keys never leave your computer, meaning you are always in control of your funds. All these features make it one of the best wallets for XEM storage, as the development team of Trezor itself also integrated support for this wallet. The Nano wallet is only for XEM storage, and it also supports NEM harvesting.
Source: toshitimes.com
2. Trezor Wallet
NEM Wallet Website: https://trezor.io/
NEM Wallet Type: Hardware, Multicurrency
Ease of Use: Difficult setup
Safe: Increased security
Cost: Paid
Trezor is a crypto hardware wallet that stores coins offline, thus keeping them safe from any online attacks. There is a backup passphrase that allows you to recover your funds in case the wallet gets lost. The device has two buttons and a small OLED screen that allows you to confirm transactions; it connects you via USB to your personal computer or phone.
The wallet has top-grade security as it features something called “limited USB connection,” which protects your coins even if your computer is infected. It is also secured by a nine-digit PIN code which is requested each time anyone acceses the wallet.
In addition to NEM, Trezor also supports a hundreds of other cryptos, including Bitcoin, Ethereum, Ethereum Classic, Dash, Zcash, Dogecoin, and Litecoin. It is compatible with OS X (version 10.8 and higher), Windows (version 7 and higher), Linux and Android systems. Apps such as Multibit HD, Mycelium, and TREZOR Wallet are also compatible.
The setup process is not that simple for beginners and might require assistance.
Source: Google Play
3. NEM Mobile Wallet
NEM Wallet Website: https://nem.io/downloads/
NEM Wallet Type: Mobile, compatible with Android and iOS
Ease of Use: User-friendly interface
Safe: Low
Cost: Free
NEM Mobile wallet is one of the best wallets for mobile NEM users, and it is compatible with Android and iOS systems. The mobile wallet app is easy to install and set up, and allows users to conveniently send and receive NEM, as well as import and export NEM accounts.
This wallet also has a multi-signature feature, which encrypts all your private data and keys from your device and wallet. Transactions are executed quickly, and the funds can be sent through its user-friendly interface with great ease.
Source: freewallet.org
4. FreeWallet
NEM Wallet Website: https://freewallet.org/
NEM Wallet Type: Multicurrency, mobile and web interface
Ease of Use: Medium
Safe: Low
Cost: Free
FreeWallet is a multicurrency wallet which can be used on both mobile and desktop to store and manage more than 30 types of cryptocurrencies. FreeWallet includes apps that work as hosted wallets; an HD Lite Wallet is also available where the hosted wallets can be used to test cryptocurrencies without needing technical features and complex settings. No registration is required.
The downside is that the wallet keeps the coins on their servers; therefore the wallets are not in your control, meaning this is not the safest options since you can be a victim of various security risks.
No backup is available as restoration can be done by freezing your account or accessing it from any Android or iOS mobile. Additional security can be added by using security codes or by having your email/phone number verified.
Freewallet allows users to perform smart transactions as well. Cryptocurrencies can be exchanged between each other in the wallet at certain rates. This NEM crypto wallet might not be for all users, as they might not like the wallet having control of their keys.
Source: nem.io
5. NCC (NEM Community Client)
NEM Wallet Website: https://nem.io/downloads/
NEM Wallet Type: Desktop, compatible with Windows, Linux, MAC
Ease of Use: Complex configuration
Safe: Secure
Cost: Free
NEM community Client is a node of the network, and the NCC wallet incorporated includes advanced features and supports harvesting XEM coins. This is the best NEM wallet for advanced users that are interested in harvesting and delegated harvesting. The wallet can be installed on Windows, Linux and MAC devices. Before installing the wallet, you have to verify your computer for hidden viruses thoroughly. The configuration process might be too much for beginner users.
Source: finder.com
6. Coinomi
NEM Wallet Website: https://www.coinomi.com/en/
NEM Wallet Type: Multicurrency, Compatible with mobile and desktop systems
Ease of Use: intuitive GUI
Safe: Moderate
Cost: Free
Founded in 2014, Coinomi is a popular crypto wallet that supports NEM in addition to a large number of other cryptos. It is a secure and multi crypto wallet for both mobile and desktop that offers support and true proprietorship for as many as 125 blockchains and 382 tokens — a total of 507 assets. Thousands of other tokens can be used as any ERC20 token can be added. This is the best wallet option for users that are looking to access a large portfolio of cryptos on the go.
Security wise, the Coinomi wallet has never experienced any hack or security breach so far.
The wallet features Changelly and ShapeShift integration as well, allowing traders to convert their cryptos into other cryptos without ever leaving the wallet.
No name, email, or KYC is required upon registration, your IP is hidden, and no logs are kept on their servers. The user interface is very intuitive and enables anyone to navigate through its settings and wallets easily.
Summary
After finding the right wallet for your NEM holding, consider learning more about the project.
Investors will want to look into the NEM Price Prediction and Technical Analysis article that’s updated with new happenings to the project. UseTheBitcoin also covers price news like the 25% spike in NEM price after NEM trading on Coincheck resumed.
Interested parties can follow the guide on how to buy NEM on Binance or go straight to the popular exchange itself.
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