Abra allows you to receive and send bitcoin, bitcoin cash, litecoin, and over 50 currencies around the world. Abra is highly secured and allows all its users to fully have control over their money. Abra is a non-custodial wallet, meaning that it does not have access to any of their user’s funds. Abra can be used to buy bitcoin with credit cards,trade stocks,trade ETFs and invest in bitcoin and cryptocurrencies.
What is Abra
Abra is a modern multiple cryptocurrency and fiat currency investment platform aimed at taking your finances to the next level. With Abra, you have all the freedom of investment that you can desire. Abra turns out to be one of the most secured cryptocurrency and fiat currency investment platforms since it allows only users to be able to get access to their recovery phrase. You can get the Abra App on Android and iOS smartphones. This app allows anyone to invest in up to 20 cryptocurrencies and 50 fiat currencies through Litecoin and Bitcoin smart contracts. Apart from rendering the investment process through these 70 currencies easy, Abra also makes trading between them feeless. In addition, your transactions are executed almost instantly.
How does Abra work?
If you have been wondering how Abra works, relax and stay calm. It is not a complicated process. We are going to detail everything before your table through an example. Let’s suppose that you have deposited $1000 of LTC into the Abra App and desire to trade for a level of exposure using the Stellar’s price of $0.25. This process will create a special transaction on the Litecoin network.
This transaction after creation will require multiple signatures just as a smart contract would. Here, you unlock your LTC at the trading price by signing the first part of the transaction to Abra. Once this is done, you’ll have the second half of the transaction signed by Abra. This will lead to the complete signing of the transaction and will result to unlocking your LTC and transferring your profit to your account. At this point, you’ll have a sum of $2000 in your wallet.
Abra will be used to trade stocks and ETFs in the future.
Liquidity of synthetic currencies
You can be sure that with Abra, liquidity of synthetic currency won’t be a problem. Abra makes the use of ether, bitcoin, and fiat very easy and simple. The platform also allows for easy trading of Bitcoins and Litecoins. It also allows you to easily send them to a cryptocurrency wallet of your choice. For people who are residing in the USA, they can as well easily liquidate these cryptocurrencies and send them to their bank accounts.
Is Abra safe to use
Safety is a priority in every investment. Thus, you are very much right in asking if Abra is safe to use. Indeed, no one will be willing to invest their money in any platform that stands a chance of stealing the money. Whatever the case, we all know that there is no investment with a zero risk label.
That’s why we rather turn to check on stuffs like the legitimacy of the platform, its age, and reviews from customers who have had to trade with it. Abra has been in existence since 2014 and was registered and started by Bill Barhydt who is its CEO. He is a highly respected, knowledgeable, and determined fintech engineer in the Silicon Valley. Over the years,
Abra has received $35 million in funding from investors and venture capital firms like the American Express. Since their creation, they have regularly won several start-up awards. In addition, they have a clear customer service line and a good business reputation which they are daily striving to maintain at the top. And as days go by, its users are increasing.