XEM is a cryptocurrency that is particularly popular in Japan. It is the primary token of the New Economy Movement network, known as NEM for short. This crypto was first launched as a project back in 2014 before XEM began to be traded for Bitcoin and NXT. Today, NEMbers (NEM users) are fiercely protective of their crypto token, but is it any good for gambling?
Find out as we dive deeper into NEM right here. Let’s start by introducing you to a few NEM casinos, including these sites:
NEM originally debuted in 2015 as a fork of NXT. NEM has its own cryptocurrency, known as XEM, and while that can be “traded” by users, it cannot be used as a crypto payment option, which may come as a surprise to some users. Popular in Japan, this blockchain platform is particularly loved by those who are heavily invested in it, where they can earn decent rewards for staying loyal.
NEM supports fast money transfers, two-tier security architecture, and low fees of just 0.1% of the total amount sent, and there is a very limited supply of these coins available. In fact, the total number of XEM coins is capped at 8,999,999,999 XEM, which makes it valuable to those who have obtained it. In most other ways, XEM is like other cryptos, save for the fact that it can only be traded.
Arguably the biggest sticking point for XEM is that NEM casinos cannot allow you to wager using XEM, at least not officially. Instead, NEM casinos will likely allow you to “trade” your XEM deposit for something else, namely a cryptocurrency or in-house token which can be used to bet on gambling games themselves. While that is a pain, it is the reality (for the most part) of playing at NEM casinos.
As we’re sure you’re aware by now, NEM is a rare crypto at online casinos, and XEM cannot be used to wager on games. Therefore, it is entirely possible that a NEM casino will support hundreds, if not thousands, of games, but the chances are high that you will see your deposit converted or traded into something else for gameplay and gambling purposes.
If there are perks to playing with NEM, then they’d include the following:
NEMbers are rewarded based on how invested they are in the crypto. The more XEM you have in your wallet, the more you are rewarded with “vested interest”. This can be profitable for those committed to using XEM.
NEM has its own dedicated wallet, which you can use to store XEM. This is known as Nano, and such a wallet is ideal if you intend on sticking to XEM over other crypto options when betting online.
Not everything is rosy with NEM. Here are some of the drawbacks which are worth mentioning:
XEM cannot be used as a payment method, unlike other cryptocurrencies. Therefore, you’ll need to “trade” it for something else when playing at NEM casinos.
As touched on above, NEM cannot be used as a payment option at casinos. Therefore, you won’t find any real XEM-friendly games. Instead, most gameplay is done using conversions and other coins.
Before signing up to play at committed NEM casinos, you should consider the following points:
Our top NEM crypto casinos are very much worth looking at if you’re invested in this option. They include:
Obtaining and using NEM at casinos is a touch trickier than with other cryptos. Here are the steps you need to take and what you need to know:
NEM is a cryptocurrency that its users swear by and are fiercely loyal to. If you’re a NEMber, then you’ll likely want to follow the crowd and wager with XEM. However, if you’ve not used NEM yet, then you should probably consider other options, as they offer far more flexibility when it comes to deposits, withdrawals, and especially wagers.
Precious few casinos accept NEM, and that’s worth considering before you sign up for a site.
You can’t really play any casino games with XEM. Instead, your NEM deposit will be converted.
It might be possible to claim XEM via faucets, but we didn’t see any traditional NEM casino bonuses.
Yes. NEM is well looked after by its community, and it features two-tier security architecture.
No, but at just 0.1% of the transaction total, fees are minimal.