Bitcoin cash deposits and withdrawals are now available in the Abra app.
This means that in addition to funding your Abra wallet with bitcoin and litecoin (or by funding your Abra wallet with a bank transfer — including from Europe — wire transfer, or credit and debit cards) you can also fund Abra from any bitcoin cash wallet anywhere in the world.
So now bitcoin cash can be used as an on-ramp to invest in the growing selection of other cryptocurrencies in the app.
Looking for more info about how to use bitcoin cash on Abra? Check out our new FAQs.
Bitcoin cash 101
Bitcoin cash forked — a process that creates a new network by implementing changes a blockchain’s underlying code — from Bitcoin in August 2017. The goal driving the creation of the bitcoin cash included a plan to increase the number of transactions happening on the Bitcoin network by increasing the block size (a Bitcoin block is created every ten minutes and contains transaction data) from 1 megabyte to 8 megabytes.
The bitcoin community has been debating block size for a number of years. Proponents of smaller blocks argue that keeping the block size small keeps the network distributed globally, and accessible to a large number of people. Increasing a blockchain’s block size requires more computation, which at scale, requires more specialized machinery. Big block opponents argue that the increase in computation could lead to centralization.
Bigger block proponents, including the creators of bitcoin cash, argue that the increased blocksize is important to keep the Bitcoin code aligned with the original vision laid out in the Bitcoin Whitepaper written by Bitcoin’s founder, Satoshi Nakamoto.
Put simply, bitcoin cash was created to act like a better version of peer-to-peer digital cash because, at the time of the hard fork, processing transactions on the Bitcoin blockchain had become slow and expensive. In addition to the bitcoin cash solution, there have been other ideas implemented and proposed to help reduce the cost and increase the speed of bitcoin transactions.
Abra in full build (or #buidl) mode
The addition of bitcoin cash support and adding three new coins to the app are just the latest in what we hope will be some pretty exciting updates in the weeks and months ahead.
We are working on supporting more cryptocurrencies for native withdrawals and deposits, and we are vetting more coins to add to the Abra app.
Remember that Abra is a non-custodial wallet. Here’s a quick guide with some to safety tips.
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BCASH does not deserve to be added as native guys, at least not among first. But it is up to you. Bcash does not do anythign, does not offer anything new, they just wait if enough people will jump into this and well, they have a lot of coins and a loudly shouting promoter who, by some mistake got a popular com domain. Any kind of support for this weak project slows down crypto adoption and avoids people to recognize which coins are valuable. There are better candidates to be native in Abra, even Dogecoin deserves it more. And I am not promoting it.. For sure Monero would be great, or privacy coins in general to support peoples privacy. It may be good to have many more, just try to start with more valuable stuff and add variety. Could you, also, some way, implement lightning network for users? BCash is just another Bitconnect in my eyes, which will show up in the future? Talking about technology, this coin is muchworse than Litecoin you picked first. I may be wrong, but I put my hands out of it BCash. Watching this step made by you, I just worry if the next coin will be Ripple (maybe even worse). The fact that centralized entities try to use that weird coin created by weird people (handy for them) should not have any effect on your own vision of a decentralized world of money. To sum it, this was not the best step by Abra, however I love that app. Anyway, it was not the worst thing you could do. Good luck Abra, you stil rock.
It is called “Bitcoin Cash”. Have you ever actually used it? Like Roger says in the video, anybody who has actually used it realizes that it’s incredibly convenient. I understand that you prefer the old legacy expensive slow version of Bitcoin (BTC), probably because you are not using it as money, only a very poor store of value. It’s hilarious that you are asking Abra to support the unrealistic totally failed Lightning project which cannot even transfer your money without losing them on the way, instead of using a superior solution that works here and now today.
The coin that is most valuable is the coin that people actually use and want to use, a coin which is fast and has very low fees and amazing support by apps etc.
You fancy decentralization but apparently have no problem with the censorship and badmouthing that the BTC community must employ in order to make sure that their inferior coin does not get run over like a tractor crushing a potato. In 2-3 years nobody will remember what BTC was.
It’s hard for some to by bitcoin. To many verification prosesse will drive new investors away bitcoin and altcoins .Blockchain was originally made to make it easy .It no longer is. .Congratulations. Bevis!
Please natively add Dash to Abra. I’d like to be able to send Dash directly to the Abra wallet. Thank you