Saturday, March 24, 2018

Fees in Using NEM Blockchain

Abbey wired money to US and it cost  SGD54+ and for the bank debiting the amount took almost 5 days. See how painful the process is? 

Everybody is emphasizing about the low transaction fee and low cost of storing data inside their blockchain, but do we know how much it really costs?

Below are the transaction fees inside the NEM blockchain. NEM Foundation wants to solve the sudden jacked-up fees with other competitors and that is the reason why they revised their fees.
Fees under the NEM Blockchain
Nano Wallet to Nano Wallet Transfer Fees

You want to create your own coin? How much will it cost you? Below are the details. You do not need to pay developers to do your own ICO, you can create it in less than 2 minutes (click here). 

Namespace (Namespaces are domain names. Each namespace is unique and authenticates mosaics (assets) issued on it or on its subdomains.) You can put your company name in there :) 

Total Namespace Fee: 100.15 XEM 
Creating your new coin: 10.15 XEM
In totality, you will only spend 110.30 XEM to generate your own coin. Isn't it fantastic? 

Whenever you lost a public document, in Philippines, you spend money in providing document such as Notorized Affidavit of Loss  and waste time queueing on government agencies. It also applies when you need certification from universities. 

If a government agency or a school or a training center or a club/organization will issue a certification you will not be worried if you will lose it. Just save your digital certification and you are good to go. But how much it will cost the certification body?

0.20 XEM in creating a certificate under NEM blockchain
Yes! Only 0.20 XEMs in creating a digital certificate that can be access anytime, anywhere and immutable. 

This are the few cheap transactions you can do with NEM. You do not need to learn any language. What if you want to customise your company or clients' requirement in building inside NEM blockchain? You can learn it for FREE with the use of NEM Library (click here).


Love my write-up? Here is my NEM Wallet Address: 

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