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Frequently Asked Questions
Bitvavo makes Request Network as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
What is Request Network?
The Request Network is an Ethereum based decentralized payment system lauched in 2017 where businesses and users can create and request payments. The transactions are then recorded on the blockchain and are processed without a third party. REQ is a utility token used to pay fees on the network and to particiapte is the network's governance.
How to buy Request Network?
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Request Network. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
How to store Request Network?
Storing Request Network and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Request Network without any technical knowledge. Here is a brief overview of the existing wallet options to store your Request Network:
Hosted wallets are wallets where the private keys to your Request Network are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Request Network online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Request Network. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Request Network, and if malicious parties have access to your device, your private keys (and therefore your Request Network) can be stolen.
A hardware wallet is a physical device on which you can store your Request Network offline. It is one of the safest ways to store your Request Network, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Request Network is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Request Network. Once you have purchased Request Network on Bitvavo, you can choose to send your Request Network from your Bitvavo wallet to your own software or hardware wallet.
Direct Euro Transfers
Buying digital assets with Euros has never been easier. Bitvavo supports 8 payment methods, including SEPA for instant transfers.