The SegWit2X hard fork planned for next week has been called off by a majority of the miners as well as the development leaders of the effort. While there is a chance that a minority of miners may choose to move forward with a 2x hard fork, Abra currently has no plans to support the minority chain in any form. In other words, there is no forthcoming change to Bitcoin and you may continue to transact as always with Abra.
Bitcoin Cash Conversion Update
As we mentioned during our recent update, Abra intends to add a one-time conversion for Bitcoin Cash such that users who were holding Bitcoin with Abra during the August 1 Bitcoin Cash hard fork will receive their Bitcoin Cash in the form of additional bitcoin as a one-time conversion.
We’ll inform you when this one-time conversion is available within the Abra App via push notification as well as Email and SMS. This one-time conversion may take a few months to implement and could potentially be ready in early 2018. We appreciate your patience as we work through and carefully test the implementation.
For more information or support please visit the Abra Support Pages.
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.
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.
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