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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About Abra
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.
Why Abra
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.
Please visit our FAQ to learn more.
keith pearsall
1545 days agohi, ive downloaded the app, so i cannot add cryptos (eg ADA, DASH) I have stored on other exchanges (binance) to this wallet? is that right? or does it have an address?
thanks keith
Daniel McGlynn
1544 days agoKeith,
Right now you can add bitcoin, bitcoin cash, and litecoin that you have stored in other crypto wallets. The ability to directly deposit and withdraw other cryptos is on the way. Here’s more info about our synthetic currency model, in case it’s helpful.