Simple Guide to the Best NEM Wallets in 2024
Just like the normal wallet in which you store your paper money, for cryptocurrencies there are digital wallets, but they assist you to manage, send and receive digital funds. Choosing a wallet is not that difficult especially when you know what you need. That’s my job here, to provide you with the most significant information and help you make that decision on your own. The article consists several tables with detailed NEM wallets reviews and right after additional information regarding their features and adds.
01.The Best NEM Wallets
Gathering the information was not easy I will tell you straight away, but I truly believe that it will be at great help to you. If you take a look at the table below you will find the list of the best NEM wallets on the current market. Don’t forget to click the navi buttons and quick links if you want to investigate any of them in details. Bear in mind that the choice of wallet is strictly individual and depends on your personal vision and plans of usage. Let us go over the table and then I will get back to that subject.
| Type | Name | Compatibility | Supported Coins | Features | Get Wallet |
|---|---|---|---|---|---|
| Desktop Wallets | Full NEM Nano Review |
XEM only NEM Assets |
-Multisig -Harvesting -NEM Assets |
Download | |
| Full Exodus Review |
25 Coins 79 Tokens |
-HD Wallet -Built-in Exchange -QR Scanner |
Download | ||
| Hardware Wallets | Full Trezor One Review |
50+ Coins 1000+ Tokens |
-HD Wallet -U2F authentication -Offline Storage |
See Pricing | |
| Full Trezor Model T Review |
50+ Coins 1000+ Tokens |
-HD Wallet -U2F authentication -Offline Storage |
See Pricing | ||
| Mobile Wallets | Full Nem Wallet Review |
XEM only NEM Assets |
-Multisig -Harvesting -NEM Assets |
Download | |
| Full Atomic Wallet Review |
30+ Coins 1000+ Tokens |
-HD Wallet -Atomic Swap -Fiat Gateway |
Download | ||
| Web Wallets | Full Magnum Wallet Review |
50+ Coins ERC20 Tokens |
-HD Wallet -Artificial Staking -Built-in Exchange |
Visit Website | |
| Full Guarda Review |
40+ Coins 1000+ Tokens |
-Built-in Exchange -Fiat Gateway -Built-in Asset Swap |
Visit Website |
Complete List of NEM Wallets
Because of the constantly growing market, there are many options to choose between, but the truth is that they all share the purpose of storing, sending and receiving digital asses. But what makes them special then? The answer is simple the additional tools and features help you to manage and maintain your wallet. I know that there are knowledge thirsty people and especially for them I have prepared the full list of all NEM wallets, let’s check it out.
| Name | Type | Compatibility | Supported Coins | Security | Features |
|---|---|---|---|---|---|
| NEM Nano Wallet | Desktop |
XEM only NEM Assets |
Passphrase |
-HD Wallet -Harvesting -Multisig |
|
| Atomic | Desktop, Mobile |
30+ Coins 1000+ Tokens |
Passphrase |
-HD Wallet -Atomic Swap -Fiat Gateway |
|
| CoinPayments | Mobile, Web |
80+ Coins 1000+ Tokens |
Passphrase |
-HD Wallet -Atomic Swap -Fiat Gateway |
|
| Coinspace | Web |
9 Coins 1000+ Tokens |
Passphrase Pin |
-Built-in Exchange -Location Based Transactions |
|
| Crypto Key Stack Hardware Wallet | Hardware | – |
1000+ Coins |
– |
-HD Wallet -Cold Storage -Fireproof, Waterproof, EMP Proof |
| Exodus | Desktop, Mobile |
25 Coins 79 Tokens |
Passphrase Fingerprint |
-HD Wallet -Built-In Exchange -Fiat Gateway |
|
| Guarda Wallet | Desktop, Mobile, Web |
40+ Coins 1000+ Tokens |
Passphrase Fingerprint |
-Built-in Exchange -Fiat Gateway -Built-in Asset Swap |
|
| Magnum | Mobile, Web |
50+ Coins 1000+ Tokens |
Passphrase |
-HD Wallet -Built-in Exchange -QR Scanner |
|
| Paytomat | Mobile |
14 Coins 1000+ Tokens |
Pin Fingerprint |
-Built-in Exchange |
Since you are now aware of the possible options, you’ve probably noticed there are different client and types of wallets where you can store XEM coins. Mobile wallets are useful but not secured, best fit for daily use with small amounts of coins. Huge investments require proper security and you can find that with any of the hardware wallets. Also think about how many different coins you want to stash there because not all wallets support multiple coins. And at last, think over how often you will exchange coins in fiat currencies, some wallets for XEM coins have higher thresholds which could be a small obstacle if you want to do it regularly.
02. Common Features of NEM Wallets
There are common features typical for all NEM wallets either Hierarchical deterministic (HD) wallets or QR scanners which allow you for fast transfers between wallets, without the need to worry if you pasted the wrong address.
Security and Privacy
And here we are, underneath in the boxes you will find the exact definition of each of the most common features and that not all, scroll a bit more and you will see those XEM wallets combining all of them.
Hierarchical Deterministic (HD)
The HD feature means that the wallet has a master seed phrase that you need to make sure not to forget or loose. You can create pairs of keys for every transaction and if something happens to the wallet you just need to restore the master seed. Wallets that are HD are Atomic Wallet, Exodus.
Secure Nem Wallets To Consider
Wallets for NEM Masternodes
Supernodes are the equivalent of Masternodes on the NEM blockchain network. The required amount of coins to be a supernode is 3,000,000 and your wallet can be installed on a VPS or your personal computer. The one suitable for supernodes is the NIS wallet. The main purpose of hosting such a type of server is to support the network while processing all transactions, 24h per day. The network consists of 2 separated layers working together and improving the overall performance of the blockchain. They are allowing wallets and apps to operate with the network without the need of storing the whole blockchain on their HDD.
Transaction Fee Management
The rules regarding the transaction fees are quite simple and clear. The required fee will be 0.05 XEM in case you want to add additional information to it as a message, it will cost you again 0.05 XEM but per 32 message bytes or otherwise said 32.
03.FAQ
-
What is NIS?
Coming from Network Infrastructure Server, NIS is a powerful lightweight server which ensures and keeps the network and the blockchain validated continuously. It is an application server build in the web architecture. You can use NIS as a proxy to harvest without exposing any details.
04.About NEM
It all started after the user called UtopianFuture was strongly inspired by NXT and after initiating his plan in the Bitcointalk forum on January 19th, 2014. The discussion’s goal was to establish new community-oriented cryptocurrency and collect opinions and suggestions regarding his idea. Not long after on March 31st, 2015, NEM was launched as peer-to-peer blockchain based platform written in Java and C++. Of course, the main target at the very beginning was to reach wider distribution and introduce the new features such as Multisignature, encrypted messages and Eigentrust++ reputation system. Most importantly it is a Proof of Importance algorithm which at that time was something not widely met. Now with the expected Catapult update, the network is aiming to move to a Proof of Stake + consensus (PoS+) for an easier to manage consensus which stands out from the classic PoS by rewarding nodes who transact more frequently on the network.
The blockchain was adopted and tested by different financial institutions and private companies in Japan and around the world. NEM gives the opportunity for multiple ledgers to exist in a single blockchain. The NEM smart assets are creating a mosaic of transactions and fees associated with them presented with the abbreviation XEM.
Furthermore, in July 2018 the NEM foundation established its main headquarters in the Southeast Asian region on overall space of 11,000 square feet. Meanwhile, a co-working office was opened in Kuala Lumpur, Malaysia to help and assist and take part in the working flow.