Abra Mobile Wallet Pushes to Support 20 Cryptos and 50 Fiat Currencies
Abra is a startup, which has a mobile wallet app that can be installed on a Smartphone. Users of the app can use it to add, send and receive cash and cryptocurrencies. It provides a reliable platform where investors can manage their cash and crypto balances from the same app. On March 15, Abra announced the introduction of 20 cryptocurrencies and 50 fiat currencies in their platform. This aims to expand the crypto market to the users of the app, where they will now be able to sell, buy and hold currencies from that single app.
What this means
Before, there were only 2 cryptocurrencies, bitcoin and ethereum, supported by Abra mobile app. However, with 18 more added to the wallet, users will be able to expand their reach, in terms of investment in the cryptocurrency market. On top of that, they will be able to buy coins using fiat money and enjoy the free transaction charges, when it comes to conversion between currencies. This will be a cost-effective mobile wallet for investors, as they will have a platform on which they can easily manage their cryptocurrencies with ease.
Investor reliability of the mobile app
The demand for cryptocurrencies is surging by the day. In an effort to support this surge, Abra team has made a huge move to support more cryptocurrencies and fiat money into its platform. The app is available for users to install on their mobile gadgets in every country around the world. Users can add cash from credit cards and other bank accounts plus buy, sell or hold the 50 fiat currencies the app supports. For the cryptocurrencies, investors can add from crypto exchanges outside Abra to manage the supported cryptos on the app.
The stablecoin platform
Abra uses stablecoin platform, which is based on litecoin or bitcoin where it is able to create smart contracts from the same. Using the smart contracts on the stablecoin platform, investors are able to keep balances of cryptocurrencies and fiat currencies without having to worry about price volatility. This helps to hold both the fiat currencies and digital currencies for the investors. The stablecoin model also allows the app to add more cryptocurrencies, shares or any other asset on its platform for its users to invest and trade.
The future
The Abra mobile wallet app, for both fiat money and cryptocurrencies, has brought the needed efficiency in the crypto market. With its ability to create smart contracts using the stablecoin model, it defines the future for not only cryptocurrencies but also all asset classes. All this, without going through the need to pay for transaction fees seems like a great deal worth investing into.