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How to buy Nexus Mutual (NXM) in the US

A beginner's guide to buying and selling NXM in the US.

Nexus Mutual
NXM- USD
DEFI
$78.85
+$1.22 (+1.57%)
Avatar
Zak Killermann
Updated . What changed?
Fact checked

How to buy Nexus Mutual

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Nexus Mutual.

  1. Open an account on an exchange that supports NXM.
    Jump to our instructions to learn how to bridge — just remember that using a DEX can be complicated and may be more risky than using a CEX.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Nexus Mutual.
  3. Buy Nexus Mutual.
    Complete your Nexus Mutual purchase and then find the best wallet to store NXM.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What's in this guide?

  1. How to buy Nexus Mutual
  2. What is Nexus Mutual?
  3. Where to buy Nexus Mutual
  4. Nexus Mutual at a glance
  5. Price performance over time
  6. How to sell Nexus Mutual

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 104th largest cryptocurrency in the world by market cap, valued at $543,972,439. The current price of Nexus Mutual is $78.79, which is 2.790% higher than yesterday. Prices have ranged between $79.52 and $75.07 over the past 24 hours. All prices are listed in US dollars and accurate as of July 23, 2021 05:07 UTC.

Where to buy Nexus Mutual

If is not available on exchanges in your local market, then you may need to use a decentralized exchange (DEX). Decentralized exchanges run on blockchains like Ethereum and allow users to trade directly with one another without the need for a middleman.

Decentralized exchanges are unregulated and run on autonomous pieces of code known as dApps. To use a dApp you interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you’re unfamiliar.

  1. Find on a decentralized exchange and make sure can be traded for ETH which is the native asset of Ethereum. Popular DEXs include:
  2. Buy ETH to trade for – you can find check a list of exchanges that sell ETH.
  3. Transfer the ETH into a personal wallet to trade for using a web 3.0 wallet like MetaMask to connect to the DEX.

Nexus Mutual at a glance

Information last updated July 23, 2021 05:07 UTC.
Coin symbolNXM
Total NXM supply6,903,679
Circulating NXM6,903,679
Current priceUS$78.79
All time highUS$165.38
Notable team membersHugh Karp
PartnershipsSomish Blockchain Labs
IndustryInsurance
Token usesGovernance
NetworkEthereum

Nexus Mutual price performance over time

Historical prices compared with the price of US$78.79.

1 hourN/A
24 hours 2.79%
7 days 7.55%
14 days -3.12%
30 days 10.72%
60 days -0.55%
200 days 105.83%
1 year 959.65%

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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Nexus Mutual (NXM) in news

Disclaimer: Cryptocurrencies, including Nexus Mutual, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of NXM is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Nexus Mutual or any other cryptocurrency discussed.

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