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17 February, 2020 / Mon, 3:08 am

Date: 02.08.2019.

Abra - buy, sell, store, and invest in cryptocurrencies

Manage all your crypto investments in one place

Abra
Abra

Abra is an app where you can buy, sell, store, and invest in cryptocurrencies — and manage all your crypto investments in one place.

The app has gained popularity recently, thanks to having names like Gwyneth Paltrow as advisors and being featured in the Apple TV show “Planet of the Apps”.

Sign up on Abra here to get $25 bitcoin when you deposit $5

Who Is It For?

Abra is for anyone interested in the world of cryptocurrencies.

Whether you want to learn about it or start investing, Abra is the easiest place to get started. The app has a super easy interface so that anyone can use it with no technical knowledge.

Even though Abra makes it easy, you shouldn't blindly invest in anything if you're new to cryptocurrency. Make sure to do your research.

There's also a ton of information on YouTube and the internet if you want to learn for free. Just make sure you're informed before investing!

Why Abra?

30 Cryptocurrencies - Abra lets you securely buy, hold, and sell over 30 cryptocurrencies and 50 national currencies all in one spot.

Crypto Index - Abra created the "BIT10" which is the only crypto index available to retail investors. This means you can invest in a professionally balancedindex of the top 10 cryptocurrencies, which is rebalanced monthly. This is a more diversified way to invest in the crypto market, especially if you don't know which coins to start with.

Any Budget - If you believe in cryptocurrencies and want to get involved, you can get started with as little as $5. You also receive $25 for free if you deposit $5 when you sign up. Abra allows funding with credit/debit cards, bank transfers or via BTC, BCH, or LTC.

Secured by Blockchain - Abra is a non-custodial wallet. This means your funds are secured by the blockchain. You control your assets at all times unlike other large custodial exchanges.

Ease of Use - Abra requires no technical knowledge and is the easiest place to get started with crypto.

Which Cryptocurrencies Are Supported?

At the moment, Abra supports 30 different cryptocurrencies and 50 fiat currencies. The list of cryptocurrencies that are supported by Abra is constantly expanded and is currently consisting of the following:
  • Bitcoin | BTC
  • Ethereum | ETH
  • XRP | XRP
  • Bitcoin Cash | BCH
  • Stellar Lumens | XLM
  • Litecoin | LTC
  • Cardano | ADA
  • Monero | XMR
  • Tron | TRX
  • Dash | DASH
  • Neo | NEO
  • Ethereum Classic | ETC
  • NEM | XEM
  • Zcash | ZEC
  • Dogecoin | DOGE
  • Ox Protocol | ZRX
  • OmiseGo | OMG
  • Bitcoin Gold | BTG
  • Qtum | QTUM
  • DigiByte | DGB
  • Verge | XVG
  • Basic Attention Token | BAT
  • Golem | GNT
  • Augur | REP
  • Stratis | STRAT
  • Status | SNT
  • Lisk | LSK
  • Vertcoin | VTC

Abra Fees

Abra has both free features and fees depending on which service you’re using:
  • Send Money or Request Payments: Free
  • Add or withdraw funds via a bank: Free
  • Add Funds Via AMEX Cards: 4%
  • Add Funds Via Bitcoin or Litecoin: Free
  • Withdraw Funds Via Bitcoin or Litecoin:Network fee (Free from Abra)
  • Paying Merchants: Free
  • Exchange rate: not really a fee, but you can still lose or gain from ER differences

Pros of Using Abra:

  • Get involved in crypto with as little as $5 and no technical knowledge
  • 30 cryptocurrencies in one place
  • The BIT10 which is the only crypto index available for retail investors for a more diversified investment
  • You can buy things from vendors that accept cryptocurrencies
  • Funds are secured by blockchain unlike other large exchanges that have been hacked in the past
  • Convenient exchange rates (lower than the official ones)

Cons of Using Abra

  • Shouldn't blindly invest in crypto. Do your research first!
  • Many of the features are only available in the Philippines and the US
  • Only available through a mobile app
  • A complicated process of recovering data if you lose your password (since its on the blockchain)

Security

There is only one thing you have to know for crypto security: If you don't hold the private keys you don't own the crypto.

Although, Abra is also a wallet it's not recommended to hold large quantities in it.

Once your portfolio starts getting bigger, it's highly recommended to use a hardware wallet such as the Trezor or Ledger. Hardware wallets are the most secure wallets because they store your crypto offline and you have access to the private keys.

FAQ

What’s the difference between Abra and Coinbase?
The main difference between them is that Coinbase supports 15 cryptocurrencies whereas Abra supports 30.

Abra has a smaller market share compared to Coinbase, but in return, it’s also much simpler and cheaper to use. The fees on Coinbase are higher and depend on the value of the transaction and in some cases can be double of those on Abra.

Finally, on average Abra has a faster processing time than Coinbase. Most transactions on Coinbase take around 3-5 business days, while on Abra the processing time is usually 1-3 business days.
Is my money safe with Abra?
Yes. You can decide to withdraw your funds anytime you want.
Can anyone join Abra?
Abra is not available for countries that are subject to US sanctions (i.e. North Korea, Iran). Otherwise, anyone can sign up and fund their account using crypto. If you want to fund your account with fiat money you need a USA or PH bank account.

Get Started with Abra

If you want to invest or learn about crypto but don't know how, Abra is one of the easiest places to get started.

Make an Abra account here and you will get $25 when you deposit your first $5!

If you enjoyed reading about Abra, you'll also love: How to mine bitcoin & crypto with no equipment

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