Is NEM Trading the Next Gold Mine?

Is NEM Trading the Next Gold Mine?

What is NEM Trading?

NEM trading refers to trading the NEM Coin. The NEM Coin is one of the best performing coins in the market right now. It’s been growing exponentially from when it was first released. Due to the widespread adoption, people have been using the coin’s volatility to make a profit. Essentially, when the price of the NEM coin decreases, traders will purchase the NEM coin and then sell it at a higher price.

You can start NEM trading for practically no capital. (around $50 is good to start). But don’t expect triple digit profits. That’s usually how trading works if you get big enough capital to start, you can make some good short term profits. However, if you don’t have a large amount of capital to invest from the start, we suggest CFD trading as a substitute.

How can you start NEM Trading?

When you do CFD trading, you trade CFDs. But what are CFDs? Contracts for the difference – a CFD – is technically a unit or representation of an asset that is traded on the platform. Basically, this market is all about the price movement speculation. If you think that the price of an asset will rise, you purchase 10,000 CFDs to show that position in the market. Now, if the price actually does go up, you would make a profit.

If the market moves against you, you would be in a loss for your purchase of the 10,000 CFDs have been devalued. When you trade CFDs, you’re not trading the underlying asset, there’s no real world market access. You only buy CFDs, a speculative representation of the asset. The best part about trading CFDs is that you can go short as well as long. This allows people to invest in the long run as well as invest as day traders. That’s why CFD trading is a favourite amongst traders.

Where should you start NEM Trading?

Plus500 is one of the most popular CFD trading platforms in the world. It has been at the forefront of CFD trading and has been a favourite amongst 100,000 daily traders. On Plus500, you can carry out NEM trading for a higher profit. You can gain higher profits by trading CFDs because you can trade using leverage. Leverage trading is essentially like buying a CFD on a loan from your broker. You need to put in around a small percentage of the trade, the rest of it is paid by the broker. In the case of CFD or margin trading, this ‘broker’ would be the platform itself. So the profit would be all yours, minus the capital that was borrowed. Therefore, it’s pretty useful to trade on margin since you can make higher trades. Be aware that such trading can be risky since if the trade makes a loss, you will lose your initial investment. However, it’s one of the most profitable ways of doing NEM trading for short term profits.

In the case of CFD or margin trading, this ‘broker’ would be the platform itself. So the profit would be all yours, minus the capital that was borrowed. Therefore, it’s pretty useful to trade on margin since you can make higher trades. Be aware that such trading can be risky since if the trade makes a loss, you will lose your initial investment. However, it’s one of the most profitable ways of doing NEM trading for short term profits.

If you’re interested in Bitcoin trading, check out our article on how to invest into Bitcoin smartly.

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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