A Guide to NEM (XEM) Online Casinos 2022
With people always searching for new ways to fund their online casino wallets, many new payment methods have surfaced. One of these is the XEM coin from the ecosystem known as NEM. Read on to discover the top NEM casinos today.
Casinos That Accept NEM (XEM)
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What Is NEM?
NEM is short for ‘New Economy Movement’, a digital blockchain that emerged in 2015 that has become more popular since the Bitcoin boom of 2017 and 2018. It is operated by the NEM.io Foundation, based in Singapore.
NEM uses NIS1, a ‘smart asset blockchain’ which lets users create their own smart contracts. The blockchain’s cryptocurrency is called XEM, and transactions are verified using what is known as the Proof of Importance.
A Growing Cryptocurrency
Like most new cryptocurrencies, XEM/NEM has had a volatile journey. The NEM coin price started out at around $0.0001, which spiked at nearly $2 in early 2018 before crashing down to around $0.04. During the pandemic, however, XEM/NEM enjoyed a resurgence.
The beauty of XEM is that it uses a different system from blockchains used for Bitcoin (for example). Investors are rewarded by harvesting coins, rather than using powerful computers to mine them. Moreover, you can use the NEM coin software on smartphones. This makes NEM perfect for crypto gambling projects online.
- Cheaper and faster than Bitcoin
- High market cap among cryptocurrencies
- Accepted for deposits at NEM casinos online
- No credit card or e-wallet needed
- Earn transaction fees when you move XEM online
- NEM casinos not widely available in the UK
- Only traded on a few online exchanges like Coinbase
- Fees apply when purchasing XEM
- Highly volatile price
- Only one online wallet supported
What Makes NEM Different?
The volatility of XEM (NEM) aside, the cryptocurrency could become a serious alternative to established assets like BTC and ETH. While Bitcoin uses a proof of work system (POW), which requires a mining computer, XEM (NEM) works differently.
NEM uses Proof of Importance (PoI) which rewards individual investors rather than miners. You can earn transaction fees if you have at least 10,000 XEM stored in your online wallet.
The more transactions you make, the more you make. In essence, the more “important” your account, the more likely it is to make money.
In addition, the NEM network even has its own open-source payment app called NEMPay. NEM users can use the app to transfer their own digital coins using the blockchain.
Where Can I Buy XEM?
It’s easy to get started at an NEM casino. First, you’ll need to purchase some XEM gambling currency.
Head to the NEM website to buy XEM coins. You can use one of the online transfer exchanges on the site to do so, such as XanPool, Transak, and PlasmaPay – all trusted and established services.
- Select how much you want to buy in GBP, USD, or any one of dozens of fiat currencies.
- Work out the conversion based on the current NEM coin price.
- Add on the exchange fees.
- Press the ‘Buy’ button to complete the transaction. You will receive XEM in your chosen wallet.
Types of Wallets for Your NEM Casino Currency
You’ll need a crypto wallet to store your coins in before you start gambling at NEM casinos. The choice of this wallet is up to you to decide, but it’s wise to have a “cold” wallet if you own a lot of XEM crypto casino currency. Alternatively, you can opt for a mobile app or an online wallet with a secure login. Below, we've listed all available wallet types, along with their benefits and disadvantages.
A secure mobile cryptocurrency wallet is ideal for funding accounts at NEM gambling sites. You can download an mobile wallet app directly from the App Store or Google Play and use it to store your favourite cryptocurrencies, trade, and send payments.
NEM.io also has its own community-developed crypto wallet called Raccoon, with which you can buy, sell, and store XEM.
Online wallets can be prone to crashes and hacks. However, they are easy to use, and the best sites boast low transaction fees.
Coinbase is the largest and most well-established “hot” crypto wallet. You can buy and sell dozens of cryptocurrencies, including XEM, and use the money to send to your favourite NEM casinos.
We prefer the NEM NANO wallet, which works on most operating systems and even lets you send messages. The Trezor Wallet is a little harder to set up, but does boast enhanced security. You’ll also have to pay to download the wallet.
Offline “cold storage” is the best way of holding on to your XEM safely. You can store your coins on an external drive and simply transfer them to NEM casinos whenever you plug in the USB.
Not all hardware wallets will support XEM, though, and prices can vary. Trezor and Ledger Nano wallets regularly come out as the best of the bunch.
Are NEM Casinos Safe?
NEM allows swift and safe transfers of coins across the gambling blockchain. Furthermore, because the Smart Asset blockchain is decentralised, it’s not controlled by a bank or institution. It’s safe to use, allowing you to securely store NEM casino currency in a cold wallet.
It’s also important to sign up only to legitimate, properly licensed online casinos whose games have been audited to prove they’re safe and fair for for players. You can also rely on your funds being segregated in case of any issues.
At Top 10-Casino Sites, we only rate and recommend the most trustworthy gambling websites. All of our top picks offer amazing games and slots to play for free or real money. In addition, many of the very best online casinos are licensed by respected bodies like the Malta Gaming Authority.
NEM Casino Payments
It’s easy to make a safe online NEM casino payment. First, open the cashier tab at one of your favourite NEM online casinos. Next, select XEM from the list of available crypto payment options.
The casino will provide you with a unique wallet address to send your cryptocurrency to. Open your NEM coin wallet and enter the address provided. Hit ‘Submit’ and wait for your digital XEM currency to appear in your account.
Alternatively, you can exchange XEM for Bitcoin and make a deposit at the top cryptocurrency casinos. Great gambling sites that accept Bitcoin let you move BTC instantly from your online or mobile wallet. You can even try out dedicated slots and table games that let you bet in BTC.
Some NEM casinos also let you exchange digital coins for a fiat currency like GBP or EUR. Your digital currency will immediately be converted into the currency of your choice, and you can start playing online slots or casino games.
NEM Casino Games
However, you may first have to convert XEM for a fiat currency to GBP in order to play games. The casino will do the conversion for you at the current market rates. Then, you can choose slots and table games and set your stakes!
Alternatively, some online casinos have introduced special games that let you play in digital currency. These are currently restricted to BTC, but the range of games is improving all the time.
Other Popular Cryptos
NEM casinos also accept a host of alternative cryptocurrencies for deposits. Just use your web or mobile crypto wallet to send digital coins to your casino account.
The NEM Casinos Verdict
Gambling and cryptocurrency now go hand in hand, as online slots players can now send their digital coins instantly and anonymously to their favourite NEM casinos. You never have to use a credit card, and the process is instant.
With lower fees and energy usage, XEM could become the major cryptocurrency used for gambling online. Get started today by signing up to the best NEM casinos online!
NEM Casinos FAQs
Of course! You can purchase XEM legally through an exchange. Remember that you will need to create an NEM wallet first to store your currency in.
Yes. Regarding our list above, we only recommend the best NEM casinos that have been properly licensed and audited. Personal data must be encrypted, and all online gambling protected by SSL.
Only a handful of online casinos accept XEM in 2021. However, you can also convert XEM into Bitcoin or GBP at NEM casinos before gambling online.
The top NEM casinos offer a good selection of games and bonuses for all players. In addition, you will be able to access loyalty programmes which award perks and free cash.
Most online NEM casinos won’t charge a fee when you deposit with XEM. However, you may incur a transaction fee if purchasing XEM online.
To deposit NEM (XEM), open your wallet and enter the address to which you’re transferring cryptocurrency. The casino will provide you with a secure wallet address to move the money to.
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