Welcome to the Abra Cryptocurrency Product Guide! This guide is designed to give you everything you need to know about investing in cryptocurrencies with Abra. But first, a word about us.
Abra is the world’s first global investment app designed for the future of finance. Abra empowers users in more than 150 countries to invest in hundreds of cryptocurrencies via a single app while giving users the freedom to buy, sell, hold, exchange and send them anywhere, anytime.
Abra’s vision is to open access to the global financial system and drive greater financial inclusion. Abra aims to do this by providing one financial app for anyone, anywhere in the world to manage and send money. Today, Abra wallet users can:
- Invest in hundreds of cryptocurrencies.
- Over 90 cryptocurrencies for US users are available to deposit, withdraw, buy, sell, send, or exchange starting November 12, 2019.
- More than 200 new cryptocurrencies for international users will be available in the app starting in December 2019.
- New stablecoin deposit and withdraw capabilities for Tether, Paxos, TrueUSD and DAI starting November 12, 2019.
- Send money anywhere, anytime. Frictionless and free, Abra’s peer-to-peer capability allows users to instantly send and receive money (fiat or cryptocurrencies) to anyone, anywhere in the world.
- Easily build and manage a crypto portfolio. With the most comprehensive offering of cryptocurrencies available in a single app, and the ability to exchange any currency to any other currency (no trading pair limitations), Abra gives users the flexibility and freedom to build and manage “crypto your way.”
Where is Abra Available?
Abra is available in 150+ countries
Allowing anyone to invest in hundreds of digital assets.
For users in the United States, regulatory restrictions prohibit residents of New York, Connecticut, and Hawaii from using Abra.
02Abra 101: Quick Tips
Hopefully you’re already an Abra user and enjoying the app! We designed Abra to be simple and approachable for use by a broad spectrum of investors — from the revolutionaries to the entry-level experimenters. But if this is your first time, here are a few quick tips for safely creating your wallet.
Setting Up Your Wallet
Getting started with Abra is easy. Simply download the app from Google Play or the Apple Store and complete sign up. From there, you can fund your wallet via bank transfer (US, Europe, Philippines), credit card (Mastercard, Visa or American Express), or via cryptocurrency deposit. Once funds have been added, you can start investing in any of Abra’s supported investment assets.
Download Abra App
From the Google Play or Apple Store
Set Up a Wallet
Each wallet is unique and secure
Fund Your Wallet
With you bank account, credit card or crypto wallet
Add any of Abra’s assets to your portfolio
Protecting Your Wallet: Understanding Your Private Keys and Recovery Phrase
Abra provides users the private keys to their wallet using a recovery phrase. The recovery phrase, sometimes called a “wallet seed” or “backup phrase,” consists of thirteen words that need to be written down and stored in a safe place. If anything happens to a user’s Abra wallet or the phone that the wallet is installed on, ONLY the recovery phrase can be used to restore and recover all funds stored in the wallet.
You are the only one who will have access to your recovery phrase, and you will need it to retrieve your Abra wallet if your phone is ever lost or stolen, replaced, or your app deleted. Thus IF YOU LOSE YOUR BACKUP PHRASE, ABRA CANNOT RESTORE OR RECOVER YOUR WALLET AND WILL RESULT IN TOTAL LOSS OF THE FUNDS ASSOCIATED WITH YOUR ABRA WALLET PRIVATE KEY.
With financial freedom comes personal responsibility. Here is a step-by-step guide with best practices for managing your private keys.
Get Your Recovery Phrase
There are several opportunities to have the app show you your recovery phrase, including:
- When you first install the app
- When you are reminded to verify your recovery phrase
- When you press the “Backup” button in the main menu of the app.
When you select the option to show your recovery phrase, you will be shown a screen with thirteen words to copy. These thirteen words are your recovery phrase. The recovery phrase is unique to your phone – no one else has a copy
Write Down a Copy of Your Recovery Phrase
Write down the recovery phrase on a piece of paper and store it in a safe place, such as the same place you store your birth certificate, cash saving and other valuables.
You may be tempted to take a screenshot but if you lose your phone, you may also lose your recovery phrase. Remember that anything stored online is more vulnerable to hacking. See https://bitcoin.org/en/secure-your-wallet for some additional tips.
Verify You Have Saved a Copy of Your Recovery Phrase
Once you have stored a copy of your recovery phrase in a safe place, go to the next screen and type the words back into the app in the correct order, then press the “Confirm Phrase” button to verify your recovery phrase. If you typed it correctly, you will receive a confirmation notification.
Your Wallet is Now Protected!
After you have verified your recovery phrase, you will no longer recieve reminders to verify your recovery phrase. You can now use the copy that you saved to recover the funds in your wallet if you get a new phone or have to re-install the Abra app for any reason.
Funding Your Wallet
Once you’ve set up your wallet and secured your recovery phrase, you’re ready to add funds and start investing. The ways in which users can add funds to an Abra wallet vary from country to country, but the one universal currency all Abra wallets accept is cryptocurrency.
Most of the world also has the option to fund their wallet with a credit card — Mastercard or Visa — or bank wire transfer. In the US, EU and Philippines, users can choose to fund their wallets via a local bank transfer. Once funds have been added, users can start investing in any of Abra’s supported investment assets.
To summarize, here are the ways to fund your Abra wallet:
- Cryptocurrency: Any of the supported cryptocurrencies on Abra
- Credit card: Deposits using Mastercard or Visa are available for most of the world. US users can also use American Express.
- Local bank transfer: US (ACH), EU (SEPA – deposit only), Philippines. US bank deposit and withdrawal limits are $4K/day, $8K/week, or $16K/ month.
- Wire transfer: US bank wire or international wires via TrueUSD are accepted. By linking your bank account securely with TrustToken, you can deposit large amounts of TUSD to your Abra wallet. To get started, open an individual account with TrustToken, connect your bank account, then provide your Abra TUSD address to deposit TUSD to your Abra wallet.
- Cash: Users in the Philippines can convert cash to crypto by visiting one of our authorized teller locations or any 7-ELEVEN or ECPay merchant.
Managing Assets in Your Portfolio
Once your wallet is funded, managing your portfolio is easy. Just tap “ADD” in the upper right corner of the portfolio tab to easily track assets from your home screen. Here’s a quick overview on how to make an investment.
Click on “ADD” in the top right corner of the app to add assets to your portfolio.
Add Assets to Your Portfolio
Tap the asset you would like to add to your portfolio to track and/or invest.
Choose a Fund
To make an investment, tap the exchange button from your home screen and select a funding source for your investment.
Select an asset
Select the desired asset to trade. If you don’t see it on your screen, tap “See all assets”.
Initiate the exchange
Your investment order is initiated.
Confirm the exchange
Congratulations! Your investment order is received.
Your Abra wallet is global and flexible. You can deposit and withdraw from your wallet in many different ways: via banks, tellers, or any cryptocurrency. Please check out the links below for additional details.
|Bank Name||Deposit into Abra||Withdraw from Abra|
|US banks||Show Me||Show Me|
|Philippines banks||Show Me||Show Me|
|*Tellers||Show Me||Show Me|
|Cryptocurrencies||Show Me||Show Me|
*Tellers are currently only available in the Philippines
Please note that withdrawals directly to bank accounts are currently only available in the US and the Philippines, with more countries to come.
03Cryptocurrency investing on Abra
Abra supports over 90 cryptocurrencies in the US and more than 200 for users internationally. Starting November 12, more than 60 new cryptocurrencies will be added to the Abra app for US users to deposit, withdraw, buy, sell or exchange. In December, over 200 assets will be listed for international users with the same capabilities.
How Cryptocurrency Investing on Abra Works
Abra operates as a convenient all-in-one wallet and exchange, providing investors unlimited flexibility to exchange any asset for any other asset anytime, anywhere.
Currently, the Abra wallet uses a hybrid model, in which some assets are stored on your Abra wallet in a non-custodial model, and some are stored with a trusted custodian. We think understanding the difference is important.
Users holding Bitcoin, Ethereum, Litecoin and Bitcoin Cash on Abra are holding non-custodial assets. This means that Abra never controls, or has access to, these funds. This 100% peer-to-peer model means that no middle man is ever holding, managing or touching your funds at any point in the transaction. So you are in control of your money!
Like all bitcoin wallets, Abra uses special codes called “private keys” to authorize transactions. Anyone who has the private key to a bitcoin wallet can authorize transfers to other wallets. It is therefore very important to keep the private keys to your wallet safe and secure.
Users trading in any other currency outside of Bitcoin, Ethereum, Litecoin or Bitcoin Cash are doing so on a hosted platform which means these assets are stored with a third party custodian. For anyone planning to hold currencies for extended periods of time, we always recommend storing your cryptocurrencies in a secure, cold wallet.
What Cryptocurrencies Can I Invest in on Abra?
Purple – Denotes new asset Bold – Denotes non-custodial currency
Cryptocurrencies for Abra US
|BAT||Basic Attention Token|
|BCH||Bitcoin Cash (ABC)|
Cryptocurrencies for Abra International
|BAT||Basic Attention Token|
|BCH||Bitcoin Cash (ABC)|
|BWX||Blue Whale eXchange|
|QRL||Quantum Resistant Ledger|
|RCN||Ripio Credit Network|
|STPT||Standard Tokenization Protocol|
|SNT||Status Network Token|
|PAY||TenX Pay Token|
If you have further questions about how Abra works that are not addressed here, please see our FAQs.
For account specific issues, contact us via live chat, app, email or social channels.