On Nov 15, BCH chain split into two separate chains Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCHA).
Abra, like several other industry players, has decided to support the chain with the most mining pool support, i.e. Bitcoin Cash Node (BCHN).
In the next few hours, Abra will be turning back on BCH deposits and withdrawals in the Abra app. Please do make sure you understand the following points before making deposits/withdrawals of BCH:
- Abra’s BCH ticker remains unchanged but it now represents the BCHN chain. It is very important to note that any BCH deposits and withdrawals you perform on Abra are now BCHN.
- If you perform a BCH deposit into Abra that is NOT BCHN or withdraw out of Abra to a non-BCHN wallet, it will result in your funds getting lost and Abra WILL NOT be able to recover it.
- BCH deposits and withdrawals will continue to be disabled for all old app versions. Only the newest and most up-to-date apps, i.e. Android 875 (87.2) and iOS v87.1.0(4010) and above will have BCH deposit and withdraw capability. Please make sure to update your app to the latest version to be able to deposit/withdraw BCH on Abra.
- Abra will not be offering any support or provide BCHA tokens to our customers at this time.
- There will be no replay protection for BCH at this time.
Please reach us at [email protected] if you have any questions or concerns.
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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