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What is NXM coin and how does it work?

by Financial Economy

Nexus Mutual is also known as one of the DeFi-focused crypto money projects that made its mark in 2020. NXM Coin, an Ethereum-based cryptocurrency project, actually aims to completely eliminate the need for insurance with common liquidity pools. Detailed information about the topics, what is NXM coin and how does it work, how to buy, how much is the price, whether the price goes down or not, etc. is given in the continuation of the article. You can browse here for information about QTUM coin.

What is NXM coin and how does it work?

Launched in May 2019, Nexus Mutual is a decentralized insurance protocol built on Ethereum. It offers users the ability to protect smart contracts using the native token NXM. NXM was founded by Hugh Karp. Before founding NXM, he worked as CFO of Munich Re.

Only members can join the Nexus Mutual network and share risk by buying and holding NXM, the platform’s own cryptocurrency. In fact, the phrase “mutual” in the name of the project comes from here. In a possible attack on the network, the NXM Coin in the hands of the investors goes equally, thus ensuring the security of the network.

So how to buy NXM token? NXM token is listed on some cryptocurrency exchanges. NXM tokens can be purchased from these exchanges. But before trading on a cryptocurrency exchange, it is useful to research that exchange well. Investing in reliable cryptocurrency exchanges is one of the most important factors for the investor.

How much does NXM cost? Will the NXM price go up or down?

As of today, 30.06.2021, the value of 1 NXM is around $82,4653. As with all cryptocurrencies, there is price volatility in NXM. We cannot use clear statements such as NXM price going up or down because this process is an uncertainty.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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