What is Request (REQ) crypto? Why is it grabbing the headlines?

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What is Request (REQ) crypto? Why is it grabbing the headlines?

 What is Request (REQ) crypto? Why is it grabbing the headlines?
Image source: © Alexanderushkevich | Megapixl.com

Highlights:

  • Request Network is an Ethereum-based decentralised protocol.
  • Its utility token is called REQ, which powers the network's payment requests.
  • The platform eliminates the need for third-party processors resulting in a cost-effective payment method

The global crypto market cap has advanced slightly 0.28% to US$865.91 billion over the last 24 hours, while the total crypto market volume has declined 9.63% to US$37.85 billion over the previous day as the crypto space continues to remain under pressure.

While most of the top cryptocurrencies demonstrated mixed trends, one crypto which is currently witnessing gains is the Request crypto.

Hence, this article covers what the Request cryptocurrency is all about.

Source: © Alexanderushkevich | Megapixl.com

Know the Request crypto

Making a debut in 2017, the Request Network is an Ethereum-based decentralised payment system, wherein users can make and receive payments through secure means without the need for third-party processors, thereby ensuring a cheaper and secure payment solution.

The platform is powered by the Request utility token, called REQ, which also ensures the stability and performance of the network.

It must be noted that owing to its decentralised protocol, REQ token users can vote on critical decisions that impact the network's long-term success and can also stake the tokens on Bancor in a single-token liquidity pool.

In this platform, a user creates a payment request, defines the terms and conditions of the payment and also addresses where the payment is to be sent through the blockchain.

It must be noted that every step is documented and stored on the network, thus allowing everyone to keep track of all the receipts for recording transactions quickly. One of the major advantages of this platform is that here payments are push-generated rather than pull-generated.

What is the crypto’s price?

At the time of writing, REQ is priced at US$0.1258, advancing 25.49%, over the prior day. There are nearly 999.85 million REQ coins under circulation, while the maximum supply is around 999.88 coins.

Know the wallets which can store REQ coin

Request crypto can be stored across all the major cryptocurrency wallets like Metamask, Ledger, Trust Wallet, Trezor, Argent, MyEtherWallet, Atomic Wallet and heaps more.

Where is the REQ coin available?

The crypto is available on several cryptocurrency exchanges like Binance, Crypto.com, KyberSwap, Coinbase, KuCoin, Bybit, OKX, Kraken, FTX, Gate.io, Gemini, and Huobi Global.

Bottom Line

The cryptocurrency market is marked by extreme volatility and price speculation. Caution and due diligence must be practised while foraying into the crypto space.

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