How Abra Works, Investing, News

Meet the new coins: Abra adds Cardano (ADA), Tron (TRX), and Basic Attention Token (BAT)

Starting today, Cardano (ADA), Tron (TRX) and Basic Attention Token (BAT) will now be available to investors on the Abra app.

We’ve been getting a lot of user requests to add various coins and tokens to the Abra app, and we are working diligently to make that happen. More on that below, but first, let’s meet the new coins:

Cardano (ADA): Similar to Ethereum, Cardano is a layered blockchain that is designed to bridge the gap between emerging cryptocurrencies and traditional financial infrastructure. Cardano’s layered architecture allows for quick customization, upgrades, and scaling.

Basic Attention Token (BAT): The Basic Attention Token is part of a larger ecosystem looking to change the dynamics of how digital advertising works. The token, which runs on the Ethereum blockchain,  aims to monetize user attention and change the relationship between internet publishers, consumers, and advertisers, by subverting malvertisements and trackers.

Tron (TRX): Founded in 2017, Tron is a decentralized blockchain platform that is designed to make file sharing and storage easier and more efficient for the global entertainment industry. The goal is to change the economics of content sharing by connecting content producers and consumers in a distributed manner. The Tron Foundation recently made headlines after acquiring the peer-to-peer file sharing service, BitTorrent. Individual units of Tron are called Tronix.

More investing options for Abra users

We are really excited to have these coins listed on Abra, and we are working to bring more investment options to Abra users.

Before being listed on Abra, each coin goes through a rigorous vetting process that includes assessing the coin’s liquidity, contract market making, and other factors.

Once those criteria are met, new coins are added to Abra’s synthetic currency system, which means that all assets listed on Abra are leveraging the crypto-backed stablecoin model.

And since all assets live on a blockchain, Abra’s wallet is non-custodial, making it more secure for the user.

Abra wallets can also be funded with bank deposits (we are also launching the ability for European users to buy bitcoin directly from their bank accounts), Visa, Mastercard, and American Express, and wire transfers.

Make sure to update the Abra app, in order to access all the new coins and functionality.

Stay tuned for more big announcements coming soon.

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