Digital Wallet Abra Adds Support For 20 Cryptocurrencies

Digital Wallet Abra Adds Support For 20 Cryptocurrencies

By Rebecca Campbell - min read
Updated 22 May 2020

Cryptocurrency and digital wallet Abra has announced that it is expanding its support to 20 cryptocurrencies in a single app, providing users with greater access to the market.

The new Abra app is available globally with bitcoin, ethereum, ripple, bch, litecoin, dash, ethereum classic, omisego, qtum, zcash, dogecoin, golem, and vertcoin available straight away. Over the next few days, a further seven will be available to Abra users, the company said. These include stellar lumens, bitcoin gold, stratis, status, augur, ox, and digibyte.

Bill Barhydt, founder and CEO of Abra, said of the announcement that with the growth and importance that cryptocurrencies are playing in today’s culture, the Abra app provides an easy way of gaining access to new tokens.

“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,” he added.

In addition to the 20 digital currencies available on the app, users can buy, sell, and hold 50 fiat currencies. How the platform works is that users can add money to their wallets either through a bank account, an American Express credit card for those in the U.S., or via bitcoin purchased outside Abra from anywhere in the world.

The platform uses crypto tokens, called stablecoins, through and according to the company, this diminishes price volatility, which helps to hold both cryptocurrencies and fiat coins.

Through the company’s stablecoin platform, Abra said that it can add additional cryptocurrencies quickly once they have passed the platform’s analysis of the coin. Not only that, but it opens the door to consumers regardless of where they are, providing them with a platform to invest in any asset class.

“By bringing 20 cryptocurrencies onto one platform, Abra has repaired a fractured system that has frustrated users who want to expand their crypto portfolios,” said Vinny Lingham, co-founder and CEO of Civic and general partner at Multicoin. “Abra has unified the processes and transactions onto one app, creating a seamless user experience that the crypto community has long been asking for.”