How To Buy Request (REQ)?

A common question you often see on social media from crypto beginners is “Where can I buy Request?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.

Step 1: Create an account on an exchange that supports Request (REQ)

First, you will need to open an account on a cryptocurrency exchange that supports Request (REQ).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Request (REQ) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Request (REQ)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Request (REQ) or Request (REQ) trading pairs. Look for the section that will allow you to buy Request (REQ), and enter the amount of the cryptocurrency that you want to spend for Request (REQ) or the amount of fiat currency that you want to spend towards buying Request (REQ). The exchange will then calculate the equivalent amount of Request (REQ) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Request (REQ) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

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What Is Request (REQ)?

The Request (REQ) utility token, launched in 2017, ensures the performance and stability of the Request Network. The Request Network itself is an Ethereum-based decentralized payment system where anyone can request a payment and receive money through secure means. It removes the requirement for third parties in order to provide a cheaper, more secure payment solution that works with all global currencies.

When a user creates a request for payment, they define to which address the payment needs to be allocated and what the amount is. The user can also define the terms and conditions of the payment, upgrading a simple request into an invoice. Once this is completed, the user can share their request to be paid by their counterparty.

Every step is documented and stored on the Request network, allowing everyone involved to easily keep track of all the invoices and payments for accounting purposes.

Request is also integrated with legislation across the world to remain compliant with the trade laws of each individual country.

Who Are the Founders of Request?

The founders of Request are Christophe Lassuyt and Etienne Tatur.

Christophe Lassuyt is currently the chief financial officer at Request. Before this position, he co-founded MONEYTIS.

Etienne Tatur is the chief technical officer of Request. Prior to this, he also co-founded MONEYTIS and worked as a lead developer at QOBUZ, a music streaming service.

What Makes Request Unique?

The payments on Request are performed by simply sending an invoice through the blockchain; the counterparty can then detect the request and pay it with one click in a peer-to-peer manner. The fact that the payments are push-generated instead of pull-generated is one of Request’s key advantages. There is no need for users to share their account information. The use of blockchain technology also eliminates the need for third-party processors, resulting in a reduction in transaction costs.

The Request Network leverages decentralized blockchains such as Ethereum and IPFS for an increased level of security, privacy and data ownership for the end-user. The platform does have transaction fees, which is a cost that is required to broadcast a change to the blockchain network. The transaction fees are used to incentivize miners to reach consensus on the state of the network.

Request Ecosystem

‘Request’ Finance

Manage all your crypto transactions in one place. A suite of financial tools to make your life easier – crypto organizations and freelancers can use the Request App for invoices, expenses, payroll and accounting.

‘Request’ Invoicing

Pay and get paid in cryptocurrency by sending compliant invoices as a freelancer or business. Accept payments in currencies like Bitcoin, ETH, DAI and USDC.

‘Request’ Create

With Request Create, you can create and share payment requests in three easy steps, unlocking you to spend less time on payments and more time on running your business.

WooReq

A WooCommerce plugin that allows you to easily install and accept cryptocurrency payments using the Request Network.

Request development updates in 2023

In 2023, Request (REQ) has made significant progress in developing its ecosystem, focusing on decentralized apps for payment requests and other updates:

• Ecosystem Expansion: The Request Network ecosystem now includes various builders such as Huma Finance, Joba Network, BSOS, Copra Finance, FLock, and Request Finance. These partners contribute to the ecosystem by offering services like lending and borrowing, future-of-work hiring platforms, supply chain financing, and machine-learning credit scoring​​.

• Technical Updates: In October, Request Network improved its SDK Package Reference, a crucial tool for developers working with its protocol. This update was highly requested by developers from ETHBarcelona and ETHWarsaw hackathons. Additionally, the Request Finance team helped simplify the Request Network SDK by replacing the legacy indexing in the Request Node with more efficient Graph indexing​​.

• Hackathons and Events: Request Network actively participated in various hackathons and events. At ETHRome, they offered bounties for innovative uses of their protocol. The network also marked its presence in Asian ETH events in Kuala Lumpur and Hong Kong, aiming to promote their grants program and attract new projects​​.

• CodeSandBox Examples: Request Network created public CodeSandBox examples to showcase the primary operations of their network. These sandboxes allow developers to experiment with the Request Network software in a cloud development environment without setting up a local test environment​​.

• Batch Payments Feature: Batch payments in Request Network facilitate the processing of multiple payments simultaneously, accommodating various payment types like Native, ERC20, and ERC20Conversion. This feature simplifies and streamlines payment processes for users​​.

• Network Usage: In April 2023, there was a noticeable decline in the value of network transactions compared to the previous month. This was attributed to minor payment delays typically occurring in April. However, a steady increase in the number of transactions is expected as more builders onboard the Request Network​​.

Overall, Request Network’s developments in 2023 indicate a strong focus on technical enhancements, ecosystem growth, and community engagement, furthering their mission to revolutionize accounting and finance with decentralized applications.

Official website: https://request.network/en/

Best cryptocurrency wallet for Request (REQ)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Request (REQ)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).