Abra Expanded Cryptocurrency Wallet to 20 Cryptocurrencies & 50 Fi...

Abra Expanded Cryptocurrency Wallet to 20 Cryptocurrencies & 50 Fiats

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Cryptocurrency wallet Abra, previously supported Bitcoin and Ethereum announced today it is expanding the number of cryptocurrencies to 20 and 50 fiat currencies. Users can exchange across any currency with no deposit or exchange transaction fees, at any time with no limitations. The new version of the Abra app is available today for iOS and Android to all users globally with an initial 13 cryptocurrencies, which include: The additional 7 cryptocurrencies will be available to all Abra users in the coming days. They include
  • Bitcoin Gold (BTG)
  • Stellar Lumens (XLM)
  • DigiByte (DGB)
  • Augur (REP)
  • Status (SNT)
  • Stratis (STRAT)
  • Ox (ZRX)
Consumers can fund their wallet globally with bitcoin, via bank wires or ACH as well as supported American Express cards in the United States.  Users depositing bitcoin do not have to provide any additional KYC details outside of their phone number. Users in the US wiring money or using their credit card will have to provide the requisite bank and KYC details to our bank partners. Abra will be adding native support for litecoin and ether deposits in the coming weeks. There will be no transaction fees for exchanging between currencies, although Abra will make money on the exchange spread.
“Our goal is to empower customers around the world, using their local currencies to freely invest in a wide variety of cryptocurrencies at any time, from anywhere without the restrictions of banks and fees. For the first time in the world, users can transact in and out of fiat or cryptos almost instantly,” said Bill Barhydt, founder and CEO of Abra. “Abra has unified the processes and transactions onto one app, creating a seamless user experience that the crypto community has long been asking for,” said Vinny Lingham, co-founder and CEO of Civic and General Partner at Multicoin.

How it works

Consumers can add money to their wallets using a bank account, an American Express credit card in the United States or using bitcoin purchased outside Abra from anywhere in the world. They can then invest in any of the 20 cryptocurrencies offered on the Abra app, quickly, easily and safely. To develop the new wallet and integrated exchange, Abra built the first-of-its-kind platform using price-stabilized crypto tokens, called stablecoins, that facilitates holding both fiat coins as well as cryptocurrencies through a combination of litecoin and bitcoin-based smart contracts.
"Abra is the first company to enable such a diverse range of cryptocurrencies in one wallet, and I’m excited to see Dash as one of the supported cryptocurrencies at launch,”  said Ryan Taylor, CEO of the Dash core team.
In the future, Abra plans to add more types of investment vehicles and a slew of other cryptocurrencies.
“Consumers in any country can now invest in any asset class regardless of where the asset originated — This model can be extended to stocks, bonds, commodities and more with no changes to the existing Abra app,” the company adds.

What do you think about Abra adding 20 new cryptocurrencies to the mobile platform? Let us know your thoughts in the comments section below.

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