Education, How Abra Works

From Abra’s CEO – This Week in Crypto – Nov 19, 2020

Today’s Topics:

  • Introducing the Brand New Abra App
  • Abra vs. The Competition.  What Makes Abra Great and What Sets us Apart?

Join us for Money Talks, Friday (11/20) at 9 am PT. 

  • This will be the final Money Talks episode for this season. We will be back with a brand new format for season 2 early next year. Make sure you don’t miss this one!
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As always we will answer all your questions on crypto and investing. Note you may want to update or install your Abra app before the show starts to get a head start on the demos we’ll be doing!

Join us Friday at 9 AM PDT: https://youtu.be/m_2GRYAMKBc

This week we’ve got some exciting updates to share with you.

 Introducing the Brand New Abra App!

We have an exciting new Abra App update launching today. If you haven’t seen it you can download the update from the app store now. This new interface now makes it much easier to add additional services to the Abra app in the coming months. I hope you’re as excited about that prospect as we are!

 We have a brand new home screen navigation menu. We’ve created service containers at the bottom of the home screen to allow you to easily move between Trade Service and Earn Service. You can also see a beautiful new interface for both services. 

As you can see in the Trade Service it’s now easier than ever to add money, manage your portfolio of assets, exchange between assets, withdraw funds, and set up price alerts.

If you want to see the exchange rates between ANY two assets supported on Abra just click the Exchange button to initiate a trade. Abra will show you the current rate between the two assets that you want to exchange.

 Our easier to use charts are cooler than ever giving you a complete view of your recent transactions for each asset that you hold.

In the Earn service you can access your Abra Interest Account to deposit Bitcoin, US Dollars (via bank wire or stablecoins such as Tether or USDC), Ethereum, Stellar Lumens, Litecoin, Bitcoin Cash.  We’ve also made it easier than ever to withdraw money out of your Abra Interest Account.

You can always go to the Earn Service screen to get a complete overview of our current interest rates and choose each asset to get a summary of recent interest payments.

 If you’re outside the US and you want to deposit USD into your Abra Interest Account just exchange your local currency into any USD stablecoin via the Trading Service and then transfer it over to the Abra Interest Account. Easy!

 

Abra vs. The Competition.  What Makes Abra Great and What Sets Us Apart?

 There is no other company in the world like Abra. We stand for financial freedom, liberty and transparency. We’d like to share what we believe makes us truly different and why you should care. The bottom line is that our team, incredible investor base, global footprint, risk management, and privacy policies are unmatched in the crypto industry.

 

The Abra Team

 Our team brings a unique set of experience in running large scale consumer services, lending businesses, money service businesses, and proprietary trading operations into a single seamless operation that has helped make Abra one of the most unique companies in the world. We’ve managed services for tens of millions of users across over 100 countries.

 

Fortune 500 Corporate Backing

 Abra is backed by some of the largest companies and investors in the world.  Our investors include American Express, Foxconn, Arbor Ventures – backed by Fidelity, one of the largest brokerages in the world, RRE Ventures – one of the largest venture funds in New York City and First Round Capital – one of the most successful angel funds in history, having backed Snapchat, Lime, Kayak, Wag, Hotel Tonight, Roblox, GroupMe and dozens of others.  Most recently the Stellar Development Foundation also invested in Abra.  Abra has raised over $40 million in financing across all of these great partners and we take pride in taking great care with our investor money. 

Our advisory board and board of directors includes some of the smartest investors and industry experts in the world.

 

Global Footprint

Abra is based in the US but we support users in over 150 countries with a distributed team of employees. We operate three distinct services globally: Abra Trading Account, Abra Interest Account, Abra Crypto Marketplace. Each service is operated by Abra in concert with highly regulated financial institutions including crypto exchanges, custodians, banks, and payment processors.

 The Abra Crypto Marketplace is expanding rapidly and now supports payment methods in dozens of countries with more being added all the time. This is one of our fastest growing services and we are fully committed to 100% global coverage for customers to buy cryptocurrencies where allowed by law.

 We are fully compliant with money service business, AML, and US banking regulations as they relate to our business. Abra is not a bank but we take a conservative tact to regulation as you deserve a business partner who has your best interests at heart. You can always review your terms of service with us here.

 

Risk Management

 We’re building Abra for tomorrow, not just for today.  We’ve never suffered lending losses at Abra. Protection of your trading and interest earning principal is our first priority. Our investment committee reviews counterparties for suitability with Abra and we don’t over lend to any single counterparty. Due diligence includes reviewing the financial statements of all counterparties as well as understanding how they intend to utilize the funds and determining the appropriate levels of crypto collateral on a case-by-case basis. Lastly, we always maintain reserves for the Trading Service and Abra Interest Accounts to make withdrawals quick and easy.

 

Privacy Protection

We are committed to protecting the privacy of all Abra users. We will never sell or give away any user data unless required to do so by local laws, generally meaning via a subpoena or warrant. Even then we will fight overly broad and unnecessary government information requests. We do sometimes provide summary data to Abra investors or industry analysts but never users specific information. The bottom line is that we believe that your data is simply your data, no one else’s. Cryptocurrency is supposed to liberate us from the shackles of traditional systems. We intend to help realize that vision to everyone’s benefit.

See you Friday morning for Money Talks, 9 AM PT sharp!

 

Peace and Love,

Bill

 

Disclaimer: Abra Interest Accounts are issued by Prime Trust a Nevada Chartered Trust Company. Rates for Abra Interest Accounts are subject to change. Digital currencies are not legal tender, are not backed by any government, and Abra Interest Accounts are not subject to FDIC or SIPC insurance protections. Any opinions, news, research, analyses, prices, or other information provided here is a general market commentary and does not constitute investment advice. Abra does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Abra will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

 

 

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