Abra is a cryptocurrency exchange and custody wallet serving investors in more than 150+ countries that allows you to buy and sell cryptocurrencies with fiat currency (USD, EUR, GBP) using your bank account or debit card. The platform also offers an easy-to-use mobile application for Android and iOS devices.
Abra is one of the most innovative companies in the cryptocurrency space. They are disrupting traditional finance by giving people easy access to crypto assets.
Abra is headquartered in San Francisco, California and was founded in 2014 by Bill Barhydt in Silicon Valley, who previously worked at Google and Square. In 2015, the crypto platform raised $2 million in funding led by Andreessen Horowitz. In 2016, Abra raised another $15 million in Series B financing led by Lightspeed Venture Partners. In 2017, they launched AbraX, a digital currency backed by real money.
In 2018, they launched Abra Global, a multi-currency crypto wallet and exchange. Abra offers over 80 different currencies, including Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, Stellar Lumens, Zcash, Dogecoin, and many others.
In September 2022, Abra announced they plan to launch Abra Bank, the first U.S.-regulated bank for cryptocurrencies.
Abra’s mission is to create a simple investment platform to help millions of people to maximize their crypto assets’ potential. They have an easy-to-use app that allows you to access buying, selling, earning interest, and trading in cryptocurrencies, all in one place.
What Does Abra Offer?
Abra offers an easy way to buy, sell, store, and lend more than 80 different cryptocurrencies through their crypto exchange. As a mobile-only application, you can do so from the convenience of your mobile phone.
They offer a wide range of products and services, including buying, selling, lending, borrowing, margin trading, staking, and much more. They even give you the option to earn interest on your money while it sits in our secure cold storage wallets.
How Does Abra Work?
Abra makes it possible to trade on the go by allowing users to deposit funds into their accounts from any supported bank in the world. Users can then withdraw funds to their bank accounts in over 150 countries around the world.
You can deposit fiat currency into Abra or convert your existing bank account balance into cryptocurrency. Once you’ve deposited cash, you can instantly purchase Bitcoin, Ethereum, Litecoin, Ripple, Stellar, Lumens, Zcash, Monero, Dash, Dogecoin, and many more.
If you’re interested in borrowing against your cryptocurrency holdings, you can do so with Abra’s OTC feature. With OTC, you can borrow up to $1,500 per month based on your total cryptocurrency holdings, with APRs starting at 3%.
Once you’ve purchased some cryptocurrencies, you can easily send them to another address or convert them to fiat currency. You can also set up multiple crypto wallets and manage your digital assets directly from within Abra.
How Much Does Abra Cost?
The app is free, but there are some fees associated with borrowing and trades.
Although Abra does not charge trading fees, there are transaction fees if you want to withdraw funds, like any bank account. The minimum deposit starts only at $5, making it accessible for small investors.
What are the Ways You Can Invest with Abra?
If you want to make the most out of your digital assets, Abra offers different products to maximize your investments.
You can earn interest on your investments by depositing money into your Abra account. This is done automatically every week, and you don’t have to worry about fees. When you make withdrawals, you’ll pay no fees either. In addition, you can borrow up to 90% of your total holdings at very competitive rates. Withdrawals are processed instantly, and there are no restrictions.
You can also use Abra to lend or borrow money against your holdings.
With Abra Borrow, you can borrow up to $11500 per month, based on the value of your cryptocurrency portfolio. This means you can take advantage of Abra’s low rates without having to worry about losing your investment if things go wrong.
You can also lend your cryptocurrency to other people who might be looking for a loan. Your collateral is used as security, which allows you to get a lower rate than what you would normally receive.
Abra provides OTC trading services where you can find buyers and sellers of specific cryptocurrencies. It allows you to trade directly against fiat currencies like USD, EUR, GBP, CAD, AUD, JPY, and others. You can choose from more than 80 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, Stellar Lumens, Dash, Monero, Zcash, EOS, IOTA, and many more. All of these are supported in both directions; you can purchase cryptos, and you can sell them too.
If you’d rather not deal with the hassle of finding someone to trade with, you can also list your own order. Once listed, you can choose the price you want to sell or purchase your coin at.
Why Should You Use Abra?
Abra is one of the most popular digital currency exchanges, and it offers a variety of features to help people buy, sell, store, and invest in cryptocurrencies.
Abra is one of the most popular ways to invest in cryptocurrencies. It’s a great place to start if you’re new to investing in the space. Their user interface makes it simple to navigate, and their customer service is top-notch.
How to Get Started with Abra
To begin using Abra, visit their website to download the app and create an account. Then, deposit funds into your account via credit card, debit card, or wire transfer. After this, you can view your balance and start making purchases.
When you first sign up, you will be asked to verify your identity. This process involves sending a selfie to your phone and then entering a code sent to your email. After verifying your identity, you can access your account. Here, you can see all of your transactions, deposits, and withdrawals. You can also check your current balance and request a withdrawal.