NEM is one of the “OG” blockchains. It’s not as a old as Bitcoin, but, it is older than Ethereum.
And, they’ve stayed solid, focusing on enterprise adoption for a number of years now.
Recently, they announced there new flagship project: Symbol. In this article, we’ll cover what Symbol is, how much NEM costs and how to get in on the AirDrop.
What is NEM Symbol?
Symbol is a rebrand/upgrade for NEM. And, it looks like it will catch a few eyes once it drops.
In a nutshell:
- They’ve rewritten NEM using C++
- It’ll be faster, more secure and better governed
- Has a great developer ecosystem
- Perfect for enterprise adoption
- The rebrand is simply beautiful
How much does NEM cost?
At present, NEM is fairly inexpensive. And, as part of Symbols introduction, all NEM holders will be issued Symbol tokens (XYM) on its release.
Where can I buy NEM
You can buy NEM (XEM) on Binance, and likely on other crypto exchanges too. Though, I’ve mentioned Binance specifically for these reasons:
- Binance is participating in the airdrop
- They have great prices
- And, they have many layers of security
Binance and the XYM AirDrop
Binance has publicly announced that they’ll be participating in the Symbol (XYM) AirDrop.
Fortunately, the AirDrop (initially penned in for January 2021) was postponed, and the AirDrop will now occur on release of the Symbol blockchain.
How to store your NEM for the XYM AirDrop
Store it on Exchange (on Binance)
Of course, if you’re buying on Binance, and they’ve said they’re participating, you can leave your coins on Binance too if you’re comfortable with it!
- You can deposit NEM directly, if you wish
- Or can you trade your cryptos for NEM
- And, if you’re dry, you can purchase NEM on Binance with a debit-card
Store it on your own Wallet
You don’t need to buy and store your NEM on Binance. You could go the route of using your own wallet; a ledger or the standard browser-based NEM wallet.
If you choose to use your own wallet, you’ll have to opt-in or claim your XYM tokens once they’re introduced.
How long after the Symbol airdrop do you have to claim your XYM?
You’ll have up to six years after the release to claim your airdrop tokens.
Or, go the easy route: buy on Binance, wait for the airdrop, and enjoy your airdropped crypto loot!