The NEM wallet is open source and can be accessed on GitHub. The private key is stored on the user's device and is encrypted. Users of the wallet can send, receive, and store XEM which is the native token of NEM. The wallet also has messaging capabilities. The messaging is also encrypted. Users can send and receive NEM and messages to and from any NEM address. The wallet also integrates with Changelly for exchange functions enabling users to buy and sell NEM for other coins. There is no support for fiat currencies. The NEM app is a lite client which means no blockchain downloads for the end user.
The wallet is hierarchical deterministic. Users can import and export NEM accounts. There is also multi-signature functionality. The wallet does not have any option to enable two-factor authentication.
The wallet was developed by the NEM development team so it keeps the best interests of the NEM cryptocurrency aligned with the wallets functioning. One of the main advantages of this wallet is the integration with Changelly.