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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Basic Attention Token, Cardano, Tron
How do you update ABRA Mobile app with the latest version?
Kevin,
You should be able to update the app on your phone through your app store (either Google Play or Apple App store). Contact [email protected] if you are having issues or need more help with the update process.
Will I be able to buy Trx with usd directly on the app?
Thomas,
Yes, you can buy exposure to Trx with USD on the Abra app now. Check out this post for more about how Abra’s decentralized investing model works. If you have additional questions, [email protected] can help you with more specific answers.
Can I send TRX that I already own to the Abra wallet ?
Charlie,
Not right now. As you know we just added TRX as a synthetic asset. We are working on adding more and more native support (which allows direct deposit and withdrawal from other wallets). We just announced bitcoin cash native support today, and we will be rolling out others in the coming months. But, having said that, we don’t have a specific timeline for TRX native support yet. Hope that answers your question. If you are looking for more info on how Abra’s synthetic currencies work, check out this article. Thanks again,
hi, 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
Keith,
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.