Abra Expands Support for Ethereum (ETH)

Abra, a non – custodial encryption and investment application, today announced the addition of primary Ethereum Native Asset integration to support the Ethereum network (ETH). Abra users can now directly deposit, invest and remove Ether from the Abra app.

At Token2049, the company announced it. Users can now deposit, invest or remove Ether from the Abra app directly. Ethereum was available on the platform as a synthetic asset before extending its support. Basically, this means that users of Abra were exposed to the price movement of ETH, but could only deposit in the Abra app with an American Express Card, Bitcoin, Bitcoin Cash or Litecoin account.

One of Abra’s interesting features is that it displays all the balances as Bitcoin (BTC). There are two exceptions. Bitcoin Cash (BCH) and Litecoin (LTC) are also shown. Abra offers various means of depositing funds, including bank deposits, credit card deposits, distributor deposits, virtual currencies, etc. AUD, USD, GBP, EUR, JPY, and many others are among the fiat currencies.

Mentioning this development, Bill Barhydt, founder and CEO and of the digital asset exchange, said:

“Abra users can now easily buy and move Ether from other wallets to the Abra app by adding native ether support. This also opens up the possibility of using ETH as an on-ramp to invest in the other Abra listed assets.”

Abra’s improved usability is one of its main features. It’s very easy and accessible, comparatively. The app can easily be operated on iPhone and Android phones in 155 countries. In addition, Abra is based on an architecture that is non – custodial. That means the platform has no control or access to its users ‘ funds. Rather, they are safely saved by a unique recovery phrase on the blockchain. More than 30 digital assets and 50 fiat currencies are now listed on the fiat – to – crypto trade platform. The company also launched a cryptocurrency index called BIT10 last October, which keeps track of the ten largest cryptocurrencies by market capitalization.

While there are no fees for users exchanging virtual currencies within the Abra app, the virtual currencies have a small spread. That means that those who buy digital assets will have a price that is different from those who sell cryptocurrencies. Furthermore, to delight crypto – traders, the platform offers Ether for $ 25 to all new clients, who will be buying cryptocurrencies worth at least $ 5 on the platform until 31 March.

The technology behind Abra is also unique. Also unique is the technology behind Abra. The crypto – collateralized contracts (C3) from Abra made this possible. This is a feature that takes advantage of Bitcoin’s programmable aspects. It makes the underlying investments as secure and easily tradable as a blockchain.

Commenting on Abra’s move to Willie Wang, Abra’s Vice President of Product he said, The launch of the support of native Ether is a key milestone for Abra, and we look forward to supporting the ETH group. The most important thing about this news is that it’s just the start. In the near future, in addition to other new tokens, we’ll be in a position to list now, we are going to offer native deposit and withdraw support for the other ERC-20 tokens currently on Abra.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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