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Where to buy Request (REQ) in Canada

An introduction to REQ.

Request (REQ) is a decentralized payment system built on the Ethereum blockchain. It has the long-term objective of replacing incumbent payment platforms by creating a universal ledger to support transactions of all kinds, and using advanced technology to automate and simplify the process.

It aims to be a new layer on the global payment network, allowing for automation of requirements such as tax witholding, interest payments, security issues and almost anything else.

It uses an ERC20 token referred to as REQ, but has the capacity to work with every major currency in the world. All transaction information on the network is stored in a shared decentralized ledger.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

How does REQ work?

When a user makes a request for payment on the ledger, the recipient will receive it via a financial app or wallet. The recipient then confirms the accuracy of the request and makes approval for payment. The system automatically debits the relevant account and updates the transaction on the network’s database.

Below are the benefits of using REQ.

  • Make payments online

The world has embraced the simplicity and convenience that online shopping offers. However, the use of credit and debit cards exposes sensitive personal data, and has at times, made shoppers the victims of fraudulent acts.

Request network uses the inherent security of the blockchain to protect user data. You don’t need to provide your bank details or other personal information to make or receive a payment online. At the same time, its decentralized nature eliminates the need for third party intermediaries, allowing for cheaper transactions.

  • Business invoicing

B2B invoicing is, to a great extent, still manual. Companies use hard copies and emails to request bill payments. The Request system has a comprehensive accounting feature that generates bills and allows for sharing over its ledger.

This shared database is automatically updated with every transaction which reduces the need for duplication of efforts in B2B record keeping.

  • Job automation

As mentioned above, the accounting aspect of the Request network automates most accounting roles so that payments and even tax refunds are automatically recorded. Additionally, the blockchain system is easier to audit and its immutability ensures transparency in business operations.

  • Other commercial tools

Commercial tools related to factoring and escrow are easily accessible on the REQ network, for both individual and business use. This adds much-needed convenience and security to transactions involving huge sums of money.

When making payment for a service or product, one can choose the escrow option to ensure funds are only delivered upon satisfactory delivery.

REQ token

The REQ token is the medium used for transactions on the network. It is charged for the operation of contracts, particularly extension services like taxation, escrow, late fee payment and deposit placement. Fees charged are distributed in the ratio of 30% to the extension developer and 70% to the token holder community.

Transaction fees will range between 0.1% and 0.5% of the total transaction value of every extension service used. It will be possible for users to request an accumulation of extensions so as to make a single payment. The more users the platform has, the higher the value of the token is expected to be.

Why should you consider buying REQ?

  • Low cost

Compared to existing payment systems, REQ is highly cost effective. Transaction fees on major payment service platforms range anywhere between 1% and 7% of total transaction value. This means that the aforementioned 0.1% to 0.5% range is highly economical.

  • Easy to use

Even though blockchain transactions are usually a bit more complex and require some knowledge of the system, the use of REQ is quite intuitive. Most transactions are executed with a single button click. Another aspect of its simplicity is the fact that customers can make payments using any currency and the system will carry out the necessary exchange.

  • Secure

Transactions on this peer-to-peer network are, to a large extent, risk-free. When a user makes an online purchase, they receive a payment request from the business and upon confirmation, the automated process does the rest.

REQ’s early success

The final draft of the REQ whitepaper was launched on 25 October 2017. The six-member team behind the project is the same one that created the Moneytis project. Just like Moneytis, the Request project has the support of Y Combinator.

The project is already ahead of schedule as the planned launch for a working Minimum Viable Product by Q1 2018 has already taken place. REQ prices dipped after the ICO but have gained more than 500% since then, showing the public’s optimism about the concept.

How to buy REQ in Canada

Create a crypto wallet

There are different types of wallets to choose from, but one of the easiest to use for REQ is MyEtherWallet. It can hold any coin that is built on the ETH network including REQ. All you need to do is log on to, choose a password and create a new wallet. Follow the procedure to generate your private address.

After getting your private address, you need to get ETH tokens to exchange them for REQ. If you already have Ether, you only need to choose an exchange platform and make the exchange to get your stash of REQ tokens. If you do not have Ether, you can make the purchase from your preferred exchange and then convert it to REQ.

Choose an exchange platform

Choosing an exchange platform is normally a matter of convenience. One of the most important factors to consider is the payment method accepted on the platform. Some will allow you to use bank transfers while a few others allow for money transfers via popular platforms like PayPal. Pick out the most convenient one for you that is available in Canada. Check out available platforms in the table below.

Name Product Deposit methods Fiat Currencies Cryptocurrencies Cryptocurrency Exchange


Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Binance Cryptocurrency Exchange
Bank transfer (ACH)


New users earn up to USD $500 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CA residents: Binance is not available for Ontario-based users.
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA


Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Coinbase Digital Currency Exchange
Bank transfer (ACH)


Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire


Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Coinbase Pro
Bank transfer, Cryptocurrency, Debit card, PayPal, Wire transfer


Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
IDEX Cryptocurrency Exchange


A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.

Compare up to 4 providers

Once you pick out your preferred exchange, you will need to buy ETH. Register on your chosen exchange, so you get the address to where you will send the ETH tokens to. Send your ETH to the specified address. You can confirm the deposit by checking in the “Deposits/Withdrawals” section. Go back to the exchange platform and convert the ETH to REQ tokens.

After making the purchase, it would be best to transfer the tokens to your wallet for security purposes and for easy access.

Other ways to get REQ

There are other methods to get REQ that may be more convenient than the way described above. One of the easiest ways is to get REQ tokens in exchange for products and services you offer. Another option is to accept donations in the currency.

A key point to note is that when buying REQ, the best time would be when the market is undergoing a slump and people are willing to throw it away. It could then earn you a handsome profit if you hold onto it until the market recovers and demand for the token goes up again.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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