What Is Request Network and How to Buy REQ Coin
What exactly is Request Network?
Regularly mentioned in circles as the second coming of PayPal. Request can be termed as a network that is decentralized which enables anybody to process a request invoice, which is a payment request allowing the recipient to pay in a manner that is secure and safe. Every bit of the information needed to aid this transaction is saved in a genuine ledger that is decentralized. This means it is easier, cheaper and even more secure to make payments, while also enabling a vast array of automated opportunities. The main goal is to develop a financial structure that has the potential to become the flag bearer for accounting, invoices, payments and auditing of both fiat assets and cryptocurrency.
The team behind Request has been previously commended for their exploits such as Moneytis, a money transfer company, having been also backed by Y Combinator which is one of Silicon’s Valley largest accelerators, (known for backing Coinbase, Airbnb, Dropbox, Reddit etc.), in addition to their consistent and transparent updates which is a rarity in the crypto-sphere.
It is also imperative to note that Request isn't only just for payment processing but it also comprises benefits like protection of identity, automated and efficient invoicing, smart auditing, ability to use cross-currency transactions (this translates you to being able to pay in whatever currency you want and the recipient can choose the currency they prefer) and value exchange that is both inexpensive and quick. Request welcomes you to the modern world where any currency can be accepted, finances can be automated and cost incurred due to maintaining corporate and personal finances can be eradicated.
Benefits of Request Network
Request Network is one that has pitted itself against payment provider stalwarts like Stripe and PayPal to name a few and giant credit payment institutions such as MasterCard, Visa. These are firms that have been in existence for over decades and have consistently shown to be capable of being the connecting force of the world. Nevertheless, the passage of time has created accumulated databases, enlarged revenues, greed, corruption and the necessity for control have caused these companies to verge on a path that seems to serve the companies themselves rather than the users.
Request comes in with the goal of resolving this, it is a payment solution that doesn’t require the user to give up personal information or give third parties accessible authority. Users never have to worry about their personal information being stored or shared with retailers. This serves to promote security since it is decentralized there is no central collating information body just needing to be hacked and leaked, it also serves to enable quicker, inexpensive and direct payments.
When it comes to traditional finance model, users financial information is usually stored by both the banks and the marketplace, translating to users enabling banks to withdraw money from our accounts without authorization, thanks to users releasing an identifier. Meanwhile businesses are dependent on both computer networking and electronic data to function, they have started to build databases of financial and personal information that is liable to be compromised thanks to its centralized location, making numerous persons susceptible to identity theft.
With Request Network, users are ensured protection in a manner that is both decentralized and transparent. It does this by giving users full and direct control on their wealth, currencies and transactions. Request is unlikely to force users to reveal or share their data and identity on every single transaction, nor are users forced to give up control to centralized bodies to be able to make transactions.
Steps on How to Purchase Request Network
How to Buy REQ Coin
Step 1 – Binance Registration
To purchase the token, you will need to register on Binance.
First of all log on to Binance.com.
Then select the “Create Account” link.
Proceed to register on Binance by including necessary personal information.
To finalise the registration for Binance, a valid email address and the creation of a secure password is required.
Step 2 – Activating the Newly Created Binance Account.
Before the Binance account can be logged into, the account must first be activated.
Proceed to the email account used to register the Binance account and click on the link sent by Binance to finally complete the registration process.
Step 3 – Log On and Access the New Binance Account
Head back to Binance.com website, using the activated account information to log on.
Step 4 – Funding the Binance Wallet.
Before tokens can be purchased, funds have to be available in the Binance wallet.
It is imperative to remember that fiat currency(currency issued by a central bank) cannot be sent directly to Binance. Users have the option of sending a cryptocurrency of their choice directly. Buying cryptocurrency at Coinbase.com and then sending it to Binance is by far the most expedient method.
Method of Purchasing Cryptocurrency via Coinbase
Below is an easy to understand guide to buying any type of crypto currency using Coinbase.com.
Before moving to Coinbase, users should first click the “Funds” link on their Binance account, located at the top menu bar, next the "Deposits" link located on the pop up sub-menu should be selected.
Funds deposits on Binance
Buy REQ on Binance
The next step for users is to locate the deposit address marked down for the precise kind of cryptocurrency, they prefer to transfer from their Coinbase account.
For example, if Ethereum(ETH) is used:
ETH has to be first entered into the search bar and be located.
The next step is to click on the deposits icon.
The step should display an ETH deposit address
The ETH Deposit Address should be copied and uses as the exact outward/destination address required on the Coinbase account.
When the address is pasted into the address bar and the transaction can continue:
After a wait of a few minutes, the ETH (or whatever cryptocurrency is required) is credited to the user's Binance account.
Step 5: Trading Ether for desired REQ tokens.
This is the final step in the process of gaining REQ tokens. Redirect to the Binance website and users should click on the ‘Exchange’ link located on the top menu, situated near the Binance logo. Then click on the “Basic” option that then directs to the list of cryptocurrencies available for purchase. Viewing the price of REQ tokens in relation to ETH, users then select the number of tokens they wish to purchase.
Once the amount is imputed, users’ select confirm and the process is instantaneous.
DISCLAIMER: Cryptocurrencies like Bitcoin and Ethereum are highly volatile and risky. We cannot give you advice about what to invest in or how much to invest. You should take the information we provide in our courses and blog posts, do your own additional research on specific cryptocurrencies, and plan to decide what kind of investments work for you. We highly recommend talking to a financial advisor to understand the level of risk that you are comfortable with.
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