How to Buy Wrapped NXM Right Now
In this article, we will show you how to buy Wrapped NXM easily. By the end of this article you would learn how to buy WNXM with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is Wrapped NXM? Our review
- Current prices
- Where to buy WNXM
- How to safely store WNXM
- Frequently asked questions
Current Wrapped NXM Price Stats
|WNXM Price||$74.6045 USD|
|Price Change24h||$13.4935 USD (22.08%)|
|24h Low / 24h High||$57.8742 / $87.3245 USD|
|Trading Volume24h||$591,193 USD|
What is Wrapped NXM? A Review
Nexus Mutual is a decentralized alternative to insurance. It has used blockchain technology to create a mutual (a risk-sharing pool) to return the power of insurance to the people. The platform is built on the Ethereum public chain. It allows anyone to become a member and buy cover. It replaces the idea of a traditional insurance company because it is wholly owned by the members. The model encourages engagement as members will get economic incentives for participating in Risk Assessment, Claims Assessment, and Governance.
Where and How to Buy Wrapped NXM (WNXM) Coin
There are 3 steps to purchasing Wrapped NXM. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports WNXM: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the WNXM/BTC trading pairs.
- Buy Wrapped NXM on the Exchange: Now, you can buy Wrapped NXM with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different WNXM pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store Wrapped NXM Crypto
Once you buy Wrapped NXM, the next question you'd have is "where do I store my Wrapped NXMs?". It is quiet easy to store your Wrapped NXM tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store Wrapped NXM. If Wrapped NXM is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling Wrapped NXM for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.