Request Network (REQ) is trading 14% higher at the time of writing, probably in anticipation of this ERC20 token’s addition to Koinex – a pretty small cryptocurrency exchange where REQ will be listed in about 4 hours. Koinex isn’t anywhere near the highest volume exchange, with only about $8.9 million worth of trades processed in the past 24 hours. That makes it the 64th most used exchange today by volume.
— Koinex (@koinexindia) February 22, 2018
Perhaps it’s not the fact that the REQ coin is hours away from listing on Koinex that’s driving this token’s price so much higher today. It does look a lot like a quick pump on that news – there isn’t any other signs of REQ-related current events that could be jumpstarting this coin’s price.
During the current bear market, this cryptocurrency is one of the few high-value coins that’s in the green today – with most popular coins experiencing 24-hour losses right now. But Request Network (REQ) is ramping up to a main net launch soon, and its roadmap outlines a lot of cool features that this payments platform will add in 2018.
There is a lot of reason for investors to believe this coin’s price will appreciate heavily in the next few months.
Request Network (REQ) Got Selected for Kyber Network
The Kyber Network exchange officially launched about two weeks ago. It’s a pretty cool exchange where the trades happen instantly, and it runs on the Ethereum network.
We are now live on mainnet, and available exclusive for KGT holders! Listing 10 tokens $AELF $BAT $MANA $EOS $GTO $KNC $OMG $POWR $REQ $SNT . Visit us at https://t.co/2eKRRISg85 and learn more about our mainnet launch here https://t.co/h0aurLZSvN pic.twitter.com/aHbhrYEmzL
— Kyber Network (@KyberNetwork) February 11, 2018
Lucky for those who invested or want to invest in Request Network (REQ), the REQ token was one of just ten ERC20 coins to be added to this exchange. REQ and Kyber are actually partners.
The official product launch will happen this quarter
The Request Network team says that the main net of their payments platform will launch before the end of March.
When that happens, the initial features will support a number of things –
- Connect to your wallet with a LedgerNano S, a private key, or a json file
- Create, send, and pay a request in BTC
- Create, send, and pay a request in any ERC-20 token
- REQ fees conversion through Kyber Network
- A request where the creator is the payer
- Detect payment even before appearance on the blockchain
- Offline transactions that are not broadcasted (needed for online payment)
- Be alerted by email of a new invoice
- Add metadata to Request to send formal invoices
(the above bullet points are directly from REQ’s blog)
This platform will pose a serious threat to PayPal
Beyond this quarter, the Request Network team will be adding a bunch of cool stuff to this platform. You can check out the roadmap on their site, but some of the nicest features added in Q2 and Q3 will be things like adding fiat currencies, deploying an escrow extension, a tax extension, a late fees extension, and a down payment extension.
Hello everyone! Our new project update is out! https://t.co/SAneAKxrgF
— Request Network (@RequestNetwork) February 16, 2018
With blockchain-based PayPal services that are much cheaper and decentralized, this project has the potential to totally overtake the invoice market, the e-commerce payment market – and it goes further. Past that, the REQ platform is working on ventures within the Internet of Things (IoT), auditing and accounting.
With full functionality rolling out in the coming weeks and more attractive features added during the remainder of the year, this technology is certainly one of the biggest threats to PayPal right now.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.