Buying bitcoin in Europe with Abra

We have some good news for European Abra users — we are rolling out Single Euro Payment Area (SEPA) bank transfers to buy bitcoin using the Abra app!

The goal of enabling European bank transfers accounts is to help make buying and selling cryptocurrencies easier worldwide.

How to buy bitcoin in Europe

Here’s how the Abra experience will work in Europe:

  1. After updating the Abra app, European users will see a SEPA option under the “Add Money” menu.
  2. In order to use a European account, Abra users will have to register with our partner, Coinify, as a trader. This will require submitting information such as your name, email, and basic geography. (By hitting the SEPA option in the Abra app, you will be redirected to sign up with Coinify).
  3. The next layer of bank-level security requires users to prove their identity using their name, date of birth, address, and photos of government-issued ID. (This will be handled through a service called iSignThis).
  4. After inputting your information, it may take up to 2 business days to be confirmed. Once you are, you will receive an email notifying you that you are ready to buy bitcoin.
  5. Now you will be able to transfer money from your local bank and into the Abra app.

There is a small fee (usually .25%) charged by our partner Coinify to complete these European bank transfer transactions.

This service is available in: Austria, Belgium, Britain, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Republic of Ireland, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovenia, Slovakia, Spain, Sweden, and Switzerland.

Abra in Europe

After purchasing bitcoin and transferring it into the Abra app, users will then be able to exchange that bitcoin for 28 cryptocurrencies.

If you have any questions or need guidance through the SEPA-enabling process, please reach out to support@abra.com.

14 thoughts on “Buying bitcoin in Europe with Abra

  1. Is there an option to send ABRA EURO or USD (FIAT money) back to my bank account?
    If “yes”, am I able to send only to the bank account which was used by loading ABRA or to other bank accounts too!?

    Thanks for answering!
    Michael

    1. Michael,

      We are working to enable withdrawals back to bank accounts using SEPA. Likely, you’ll be able to deposit into a different bank account, but it will have to be one under your control. Stay tuned for more updates, and please reach out to our support team if you have additional questions: support@abra.com

    1. We did an initial rollout at the beginning of the week, and we were just able to add the SEPA functionality to the other countries mentioned in the list above.

      I hope that answers your questions. If you are having issues with anything SEPA-related, please contact our support department support@abra.com. Thanks

  2. Hi,
    I got the beta invite to this but didn’t try it as it is unclear how the exchange rate is calculated.
    Do I get a locked in rate when I buy which is credited to my Abra wallet when the SEPA payment clears? Or is the exchange done at a future rate when Coinify receive my payment?
    Thanks

    1. Tom,
      The exchange rate you see in the app during the transaction is an estimate. The final cost is based on a future rate and is dependent on when your bank transfer is received by Coinify. You should see more details explaining this process in-app before you finalize the order. Please contact us at support@abra.com if you need more info. Hope that helps.

    1. Sorry to hear that the bank transfers are not working for you. If you are still interested in the app, please contact support@abra.com and they’ll be able to help you figure out what’s going on. Thanks.

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