Home Market News Crypto Abra Launches Mobile Crypto Wallet For 70 Crypto & Fiat Currencies

Abra Launches Mobile Crypto Wallet For 70 Crypto & Fiat Currencies

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Abra Launch

Abra launches the all-in-one mobile app that features excellent capabilities for the cryptocurrency market. Thirteen cryptocurrencies are supported initially, while the rest will be added progressively.

Abra has re-imagined the cryptocurrency space and has developed a single application that is capable of supporting seventy different currencies. Moreover, this application can be used to buy and sell both fiat and cryptocurrencies from all over the world.

“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.” – Bill Barhydt, CEO of Abra

The new cryptocurrency wallet app was launched March 15, 2018 by Abra. It has the features to support 20 cryptocurrencies and 50 fiat currencies in real-time. During the announcement, Abra said that it was proud to launch the first all-in-one mobile application that features excellent capabilities. In a comment, the CEO of Abra said: “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.”

Initially, the application will be supporting 13 cryptocurrencies, however, the rest will be added to the platform progressively. Some of the cryptocurrencies that will be backed include:

  • Bitcoin
  • Bitcoin Cash
  • Dash
  • Dogecoin
  • Ether
  • Ethereum Classic
  • Golem
  • Litecoin
  • OmiseGO
  • Ripple
  • Qtum
  • Vertcoin
  • Zcash

However in the coming days, Augur, Bitcoin Gold, DigiByte, Status, Stellar Lumens, Stratis, and 0x will also be added.

“I’m excited to see Abra has chosen to use the Litecoin network in the newest iteration of its app. Litecoin’s unique combination of low fees, high throughput, and secure immutable transactions is a great fit for its use as programmable money.” – Charlie Lee, Founder of Litecoin

The news from Abra has already been welcomed with open arms by some of the players in the crypto industry. One of the partners at Multicoin believes that Abra has “repaired a fractured system.” The system has been holding back the investors who want to improve their currency portfolio “by bringing together 20 cryptocurrencies onto one platform.”

On the other hand, the founder and CEO of Litecoin, Charlie Lee commented: “I’m excited to see Abra has chosen to use the Litecoin network in the newest iteration of its app. Litecoin’s unique combination of low fees, high throughput, and secure immutable transactions is a great fit for its use as programmable money.”

Abra continued on to explain how the platform will be used from across the board. The application is diverse such that the users will have the option of using Bitcoin, bank wires, ACH, as well all American Express-supported cards in the United States, to load money into their wallets from any location in the world. Similarly, the know-your-customer (KYC) policy will not be applicable except for a phone number when depositing Bitcoin. Although, Abra will require customers in the United States who wire money or make transfers using credit cards to provide their personal information. Abra will not make money through transaction fees because there are no charges when transacting. However, Abra is expected to make profit on the spread of the exchange.

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