This article was first published on Request - Medium
One challenge for any professional looking to adopt cryptocurrency as a means of payment is the confusion that digital currencies bring when trying to integrate them into existing bookkeeping & accounting flows.
To take this concern away, we’ve divided the way we specify currencies into two categories: the invoice’s currency & payment’s currency.
Request Invoicing lets any user issue their invoices in their currency of choice to conform with their existing bookkeeping/accounting flow while providing a payment option in cryptocurrency.
How it works
Creating a new invoice through Request Invoicing prompts the issuer to select a specific invoice currency on the top right side of the creation page. While the default invoice currency is set to EUR (Euro), it can be changed easily by selecting other supported currencies from the dropdown menu.
The invoice’s currency acts as the main currency a business charges its customer or client in and is used for bookkeeping and accounting, as well as for measuring the amount payable (including all relevant taxes or discounts). The amount payable in cryptocurrency is defined by exchange rates at the time of payment.
As of September 2020, the following Invoice currencies are supported:
- Fiat currencies: USD, EUR, GBP, CHF, CAD
- Cryptocurrencies: DAI, USDC, USDT, ETH, MKR, BNT
After successfully selecting the invoice’s currency, the issuer selects the digital asset in which they want to get paid. This is done by clicking on “+ Add a payment method” within the invoice draft.
Clicking “+ Add a payment method” prompts a popup, which allows the issuer to specify both the cryptocurrency they want to receive as payment, as well as their wallet address (both ENS and Ethereum addresses are supported).
As of September 2020, the following payment currencies are supported:
- DAI, USDC, USDT, ETH, MKR, BNT & BTC.
Missing an invoice currency ...
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Request - Medium