How to buy Nexus Mutual (NXM) in the US

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Nexus Mutual?

Nexus Mutual is a platform that has been built atop the Ethereum ecosystem and provides users with a variety of insurance-based offerings, powered by a large community of backers. One of the platform’s first products is the “Smart Contract Cover,” which is basically an insurance policy that covers users against certain smart contract vulnerabilities that they may be faced with when using a range of popular decentralized finance (DeFi) platforms.

The platform’s native crypto offering, NXM tokens, are used for a variety of different internal processes such as membership management, voting and governance. Furthermore, it bears mentioning that since Nexus Mutual operates as a decentralized autonomous organization (DAO), users are required to possess NXM tokens in order to implement any changes within the platform.

Nexus Mutual (NXM) is the 107th largest cryptocurrency in the world by market cap, valued at $1,088,436,211. The current price of Nexus Mutual is $157.69, which is -2.220% lower than yesterday. Prices have ranged between $165.87 and $155.25 over the past 24 hours. All prices are listed in US dollars and accurate as of October 22, 2021 07:10 UTC.

Where to buy Nexus Mutual

Unfortunately, at this time no major exchanges in the United States offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.

Consider buying a different cryptocurrency after comparing popular exchanges.

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Nexus Mutual at a glance

Information last updated October 22, 2021 07:10 UTC.

Coin symbol	NXM
Coin Marketcap	US$1,088,436,211
Total NXM supply	6,902,259
Circulating NXM	6,902,259
Current price	US$157.69
All time high	US$165.87
Notable team members	Hugh Karp
Partnerships	Somish Blockchain Labs
Industry	Insurance
Token uses	Governance
Network	Ethereum

Nexus Mutual price performance over time

Historical prices compared with the price of US$157.69.

1 hour	0.17%
24 hours	-2.22%
7 days	9.16%
14 days	14.86%

30 days	48.86%
60 days	27.27%
200 days	98.46%
1 year	478.84%

How to sell Nexus Mutual

You can cash out your NXM with the same exchange you bought it through:

1. Sign in to the exchange you have NXM on.
   If you store your Nexus Mutual in a digital wallet, compare crypto exchanges to sell it on.
2. Place a sell order.
   Choose the amount of NXM you'd like to sell.
3. Complete your transaction.
   Confirm the sell price and fees and close your sale of Nexus Mutual.

What to consider when buying Nexus Mutual

Cryptocurrencies are highly speculative assets that come with a range of risks. Additionally, buyers of NXM tokens may want to consider the following:

• Unique business model: Nexus Mutual currently makes use of a unique business model referred to as a “discretionary mutual,” wherein the mutual can elect to pay claims at its discretion. The platform made its first payout last year after DeFi lender bZx’s native smart contract code was exploited by a group of hackers.
• UK-based entity: The platform is registered in the United Kingdom as a “limited by guarantee business,” usually given to non-profit organizations. Furthermore, since Nexus Mutual’s business operations are largely decentralized, the platform is owned entirely by its members.
• Low entry barrier: Anyone can make use of the platform to gain access to a wide array of insurance offerings. To make use of Nexus, users are required to purchase NXM tokens that they can then leverage in order to acquire coverage as well as participate in the protocol’s native governance processes.
• Purchase and operational limitations: Unlike a wide array of cryptocurrencies, NXM tokens cannot be bought via regular cryptocurrency exchanges and are only available for purchase via the official Nexus Mutual platform. The tokens can only be swapped among members of the ecosystem, but can also be traded and sold as usual outside the ecosystem in the form of wrapped tokens (WNXM).
• Wide coverage possibilities: In addition to providing users with coverage against smart contract hacks and cold wallet compromises, the platform also offers traditional offerings such as insurance against earthquakes and thefts.

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