Tutorial | How to Send and Receive XEM via an Exchange

How-to-Send-and-Receive-XEM-via-an-Exchange
XEM is the native currency of the NEM blockchain. It has real fundamental value as the currency of a functioning economy. You can acquire XEM on various exchanges. Click here to see the complete list of integrated exchanges.

In this tutorial, we’ll show you how to send and receive XEM via an exchange account using your NEM Wallet.

PRE-REQUISITE: Before getting started, make sure you already have your own NEM Wallet and an exchange account.

You can find the tutorial on how to create a NEM Wallet here.

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Part 1 | Sending XEM to an exchange account

Step 1: Log in to your cryptocurrency exchange account. In this example, we’ll use the Binance exchange.

Step 2:

  • Click ‘Funds’ on the header menu, then go to ‘Deposits’.
  • Search and click ‘NEM’ or ‘XEM’.
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Step 3:

  • Read the instructions carefully.

Send only XEM to the deposit address. Sending any other coin or token may result in the loss of your deposit.

(This applies to Binance; instructions from other exchanges may differ)

  • Tick the ‘I understand that deposits without a Message will be lost’ checkbox to acknowledge the warning.
  • Click ‘Continue Deposit’ to proceed.

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Both message and address are required to successfully deposit your XEM to Binance. Failing to follow the instructions correctly may result in the loss of your deposit.

Step 4:

  • Log in to your NEM Wallet.
  • Click the ‘Send’ tab at the header menu.

Step 5:

  • Go back to your Binance account.
  • Copy the text in the ‘XEM Deposit Message’.

Step 6:

  • Go back to your NEM Wallet.
  • Paste the text you just copied in the ‘Message’ field.

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Step 7:

  • Go back to your Binance account.
  • Copy the text in the ‘XEM Deposit Address’. It should start with the letter ‘N’.

Step 8:

  • Go back to your NEM Wallet.
  • Paste the text you just copied in the ‘To’ field.

Step 9:

  • Set the amount of XEM you wish to deposit.
  • Enter your NEM Wallet password, then click ‘Send’ to proceed.

Step 10:

  • Wait for the transaction to be confirmed by the NEM blockchain.
  • Once confirmed, the transaction details will be available on both your NEM Wallet and Binance account.

Congratulations! You have successfully deposited XEM into your Binance exchange account.

Part 2 | Receiving XEM from an exchange account

Receiving XEM from an exchange is much easier than sending XEM to an exchange account.

Step 1:

  • Log in to your NEM Wallet.
  • Retrieve your NEM account address by clicking the ‘Account’ in the top right corner of the header menu.

Step 2:

  • Copy your NEM Wallet address. It should start with the letter ‘N’.

Step 3:

  • Log in to your exchange account.
  • Go to ‘Balances’.
  • Search ‘NEM’ or ‘XEM’, then click ‘Withdrawal’.

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Step 4:

  • Paste your NEM Wallet address into the ‘XEM Withdrawal Address’ field. The ‘Message’ field is optional.

Step 5:

  • Set the amount of XEM you wish to withdraw.
    (NOTE: * Transaction fees may vary from different exchanges)
  • Click ‘Submit’ to proceed.

Step 6:

  • Wait for the transaction to be confirmed by the NEM blockchain.
  • Once confirmed, the transaction details will be available on your NEM Wallet and Binance account.

Congratulations! You have successfully withdrawn XEM from your exchange account.

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