Abra Supports Bitcoin Deposits and WithdrawalSeptember 15, 2018
Abra users can now fund their Bitcoin cash wallet from any part of the world. Abra is a cryptocurrency wallet and cryptocurrency exchange app that has come forward to support bitcoin cash (bch) by permitting deposits and withdrawals with Bitcoin.
Bill Barhydt, the founder and CEO of the company, explains to those of its users who are not aware of bitcoin by stating, “bigger block proponents, including the creators of bitcoin cash, argue that the increased blocksize is important to keep the bitcoin code aligned with the original vision laid out in the bitcoin whitepaper written by bitcoin’s founder, satoshi nakamoto. put simply, bitcoin cash was created to act like a better version of peer-to-peer digital cash because, at the time of the hard fork, processing transactions on the Bitcoin blockchain had become slow and expensive.”
Abra provides with cryptocurrency app and wallet services that is being widely used across the globe. These apps have made cryptocurrency pretty simple.
By making use of the single app from Abra, users will be able to buy, hold, store and invest in over 28 crypto currencies and in about 50 fiat currencies. Different cryptocurrencies can be managed from this one app from one screen.
The Abra wallet does not take custody of the password and private key of the different cryptocurrencies, rather it operates as a non-custodial wallet where the private key is held by the user and the app has no control over the private key.
The Abra App model does not have any middleman and it operates 100% peer-to-peer. Therefore, middlemen do not touch the funds during any stage of the transaction.
Bill Barhydt, was an early Netscape employee and veteran cryptocurrency veteran. Bill Barhydt is the founder of the company that brings Abra. The various investors in this company are “American Express Ventures, First Round Capital, Foxconn Technology Group, Arbor Ventures, Lerer Hippeau, RRE Ventures, Silver8 Capital and others”
In the past week, the number of countries serviced by the company increased to 35 after Abra announced its support for SEPA (Single Euro Payment Area) bank accounts.
The move by Abra enabled, “28 member states of the European Union, four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), and Andorra, Monaco, and San Marino, the ability purchase cryptocurrencies via direct bank transfer.”
Bill Barhydt stated, “As we continue to expand our capabilities, we are constantly looking for efficient and secure on-ramps that will enable our users to easily invest in cryptocurrencies. Ease, efficiency, and effectiveness are paramount for us in helping our clients invest”
Abra has as well launched support for Cardano (ADA), Tron (TRX) and Basic Attention Token (BAT) alongside its expansion programs.