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HomeGuidesWhat is Request Network-A Detailed Guide On REQ Coin

What is Request Network-A Detailed Guide On REQ Coin


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What is Request Network Coin? (REQ), REQ price predictions, REQ wallets, How and where to buy REQ and everything you need to know about Request Network.

What is Request Network?

Request network is an ERC20 token based on Ethereum blockchain. Request network has made a decentralized payment system for sending and receiving money along with the feature of requesting. The project is trying to get compatible with all major fiat currencies so that users can have a lot of options for sending and receiving amounts.

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Request network is in action to get compliance with all major country’s laws, which is big and difficult task. REQ model is like Paypal but they are trying to achieve big and go extra miles by including business-to-business payment system, Invoicing, Internet of things, audit and accounting services.

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The symbol for request network is REQ. REQ coin is used to pay fees on Request Network and for gaining access to different REQ services like advanced invoicing, etc.

Request Network Team

Request network has a professional team that has an extensive experience of money transfer platform. The team was the creators of Moneytis, which was a money transfer platform. The team was highly successful in building and running Moneytis, but to take advantages of blockchain technology they launched Request Network.

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To launch Request network, the team was selected by YCombinator. This gives a lot of credibility to Request Network team as YCombinator also supported Coinbase in their launch. Request Network has made some solid partnerships with top crypto projects like Khyber network and PWC France.

Christopher Lassuyt and Etienne Tatur, the cofounders of Request network learned from their Moneytis experience that are many problems in online invoicing for payments so they wanted to tackle and solve all those complexities with the aid of blockchain technology. The team is very transparent about Request Newtok, From time to time they conduct AMA sessions to interact with community, they are active on Reddit and other social media, also Request network generate progress reports twice a month.

Request Network Fees

At the start of the request network project, the fees were between 0.04% to 0.55%. But after the launch of the second version of request network, the fees have declined significantly. The new fees structure is based on the size of data rather than transactions. The fees for 10KB data is 0.09 USD and then additional 0.02 USD per 10KB Data.

How Request Network Works

The working of Request network is simple. Suppose Jak wants payment from Ammara. He sends invoice request to Ammara from request network, Ammara receives invoice and make payment with a single click, Jak receives his payment.

Request network wants to become the payment platform on which invoices can be sent on a blockchain. It allows anyone to collect and send payments anywhere in the world.

Sending payments is possible by regular banks. But banks cannot transfer cryptocurrencies. If you want to receive money from someone and you want him/her to pay you in Bitcoins, you can do this with Request Network. Anyone who has to pay you don’t have Bitcoin but another cryptocurrency, Request network will convert that cryptocurrency and sends you the cash.

The Request network offers full transparency. Because it stores all transactions and requests on the REQ blockchain, users can immediately see whether the person from whom they are receiving money has actually transferred it. This can save a lot of telephone calls costs for organizations every month, calling their clients whether the money has been transferred or not.

Companies and agencies can run their invoice programs and other financial methods on the system. Financial firms just need to add a simple user friendly payment button to make a large part of their business operations a lot more efficient.

When cryptocurrencies will become more stable and regulated, more people will start using it, Request network will also become more attractive for companies to work as their payment processor.

If more companies and consumers use the Request network, this could be beneficial for the REQ coin price.

Watch a video below how Request Network works.


Request Network Features

Request network has introduced payment request model known as Request Invoices, that provides a secured and decentralized payment experience.

In banking system or other payment processors like Money gram, Western Union charge a commission of 1 to 7 %, whereas in request network the fees is 0.001 to 0.30 USD depending upon your invoice.

Request network allow anyone to create a payment request on their network, there are no geographical restrictions or any other hurdles.

Request network not only allow to make peer-to-peer payments on their network but also request network payment system can easily be embedded with websites and users can pay make payments or request payments with a single click.

Request network is ERC20 token, where all transactions are based on Ethereum blockchain, there is no third party involved for payment processing, which makes request network fast and more reliable.

Request Network Wallet

REQ coin is an ERC 20 token so all wallets supporting ERC20 tokens can store request network. But you have to make sure that the wallet you select for storing your request network is of excellent reputation, crypto community should have positive views about that wallet, there should be a powerful team and brand image of that wallet. This is extremely necessary because it is the matter of your funds.

To store your REQ coins, Metamask is a decent option, it is a well-known wallet for ERC20 tokens and support every ERC20 coin.

Trezor and Ledger Nano S are great options for request network hardware wallets. Among many hardware wallets for ERC20 tokens, Trezor and Ledger Nano S are the market leaders.

To safely store your request network on any ERC20 compatible mobile wallet, the top option is Trust wallet owned and operated by Binance exchange.

Other pleasant option for request network wallet is MyEtherWallet, Atomic Wallet and Enjin Wallet.

Where To Buy Request Network

Request network token is a popular coin with a formidable team and investors, so it is available on many crypto exchanges. If you have Bitcoin in your account and want to purchase REQ coin against BTC, then the best and most preferred option is Binance exchange. Name of Binance exchange is known to all crypto lovers because Binance has earned some great reputation. The screening process of Binance exchange for listing coins is very strict, and they only list legitimate projects. So mostly coins on Binance are legitimate coins.

If you want to buy REQ coin against USDT, then the best options are WazirX, an Indian exchange, or Gate.io.

Exchanges are the best option to buy cryptocurrencies, but they are not suited for storing cryptocurrencies. You should only keep those funds on exchanges that you regularly use for trading. Otherwise, all funds should be kept in your personal wallets. Crypto exchanges does not give you wallets keys, all funds kept on exchanges are at disposal of these exchanges plus cryptocurrency exchanges are favorite targets for hackers. So you need to be very careful while keeping funds on exchanges.

Other popular exchanges where you can buy request network token are:

  • Kucoin
  • Huobi Global
  • Bitfinex

How To Buy Request Network

Buying REQ coin is straightforward. First, select the exchange for buying request network coin. Make an account on your preferred exchange and verify your account if you want to.

On Binance exchange you can buy REQ only with BTC. There are no other trading pairs against request network coin on Binance. To buy REQ coin on Binance, you need to fund your account. Binance offers a lot of options for funding your account. You can use your debit/credit cards, bank transfer, or many other methods for buying BTC against fiat currencies. You can also use Binance peer-to-peer exchange to buy BTC against your local vendors against your national currency.

Once you have funded your account with Bitcoin, you can go to “Trade” option present on the top of the Binance home page and buy REQ coin against BTC.

Request Network Roadmap

There are tons of things going on request network roadmap. The projects that are already completed are Bitcoin invoices, Fiat invoices, Value added tax on invoices, paying any invoice without sign up, recurring invoices, contact lists, currency swaps, advanced recurring invoices.

The project that are in progress are customize invoice branding, batch payments, integrating with Xero.

The upcoming feature that all request network community is waiting is the integration of Escrow service with request network and Quickbooks integration. Escrow is service that provides financial agreements between third parties, when completing transactions and Quickbooks is a well-known accounting software that manages incomes and expenses of small business and keeps records of their financial transactions. Other than these highly requested features, Request network will add partial payments. With the help of partial payments, users will pay their invoices partially according to the term and conditions that both parties will agree upon.

REQ Coin Price Prediction

Request network conducted a very successful ICO in 2017. They raised above 33 million USD, investors bought REQ coin at the price of 0.00672 USD during the ICO.

Like all other coins, the price of REQ coin went sky high on Dec 2017 and reached 1.06 USD. Since then, the price kept on falling and reached as low as 0.0064 USD in March 2020. After, March 2020 cryptocurrency market has seen a nice bull run. Bitcoin touched 40,000 USD and req coin price reached 0.045 USD.

Many Req Coin Price Prediction were made in the past,  crypto influencers on YouTube, Twitter, Telegram and other social media always make price predictions about coins.

Our Request network price prediction for 2021 is 0.020 USD to 0.060 USD.

The REQ price prediction for 2022 can be $0.08 to $0.27.

The Request Network price prediction for 2025 is above $0.9.

These are just our price predictions, we are not financial advisors and everyone must do his deep research before investing in any cryptocurrency.

If you want to invest in Request network, only invest what you can afford to lose. Investing in cryptocurrency is a bit of a gamble. And no one can precisely predict where the price of coin will go. Request network is a promising project and can be an interesting investment.

Other Useful Resources

Request Network Website

Request Network Twitter

Request Network Facebook

Request Network Telegram

Request Network Reddit

Request network Reddit is a group of strong 27.4K members, There is a broad list of REQ Reddit moderators, the wide list of moderators and so many members show that Request network Reddit is a strong community that is actively developing and growing every day.

There are no specific rules set to post in REQ subreddit like minimum account age or required post comment karma. So it allows everyone not only to join Request network Reddit but also post in it. Generally subreddits have their set of rules for posting and without following those rules your posts can be deleted or you can face temporary or lifetime ban from that subreddit.

The Request network Reddit does not allow you to post your views about REQ coin price directly. So they every month they create a Monthly Price Discussion Thread where everyone is free to discuss REQ coin price, make predictions, share news and technical analysis regarding REQ price.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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