Abra is now offering 0% interest loans through Abra Borrow. You can get cash to pay off your credit card, go on vacation or even to buy more crypto … all without having to sell your crypto.
You can borrow against Bitcoin and Ethereum at 0% interest for up to 10% Loan to Value (LTV). You can apply for the loan in the app and get a decision in minutes. Use the loan however you want: withdraw it to a bank account or buy more crypto.
“Offering 0% interest through Abra Borrow lets customers quickly access 10% of their holdings for free while still gaining the benefit of any upside price movement of those holdings. Nothing like this has ever been done before,” said Bill Barhydt Founder and CEO of Abra. “With more people owning crypto now than ever before, having tools to effectively manage and access gains are essential to a flourishing crypto ecosystem. Abra is fully committed to being a leader in this new and growing space.”
How to get your 0% interest loan
If you are new, you can download Abra and fund your wallet or you can buy some within the app. Simply go into the Abra app and tap on the Borrow button. You can fund your loan using your BTC or ETH balance.
One great thing about the Abra 0% interest loans is there are no employment checks or credit history checks. All you need is your crypto as collateral.
You can start borrowing almost instantly—the approval process takes minutes. Abra issues loans in U.S. dollar stablecoins and the app handles all loan origination processing.
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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