Abra, a non-custodial crypto and investment app, announced today expanded support for the Ethereum network by adding primary integration of Ethereum’s native asset, ether (ETH). Now, Abra users can deposit, invest, and withdraw ether directly from the Abra app.
Before this announcement, Ethereum (ETH) was available on Abra as a synthetic asset, which means that Abra users were able to have exposure to the price movements of ether, and users could only make deposits into the Abra app via a US-based bank account, American Express card, bitcoin, bitcoin cash or litecoin. This latest level of support also adds the ability for Abra users to directly deposit and withdraw ether (ETH) via any other ethereum wallet.
[perfectpullquote align=”full” bordertop=”false” cite=”Bill Barhydt, CEO, and founder of Abra” link=”” color=”” class=”” size=”15″]“By adding native ether support, Abra users will now be able to easily buy and move ether from other wallets to the Abra app. This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”Joseph Lubin, co-founder of the Ethereum project and founder of Consensys, a Brooklyn-based incubator and accelerator focused on the Ethereum ecosystem” link=”” color=”” class=”” size=”15″]“Hundreds of thousands of technologists and developers around the world are working to build applications and platforms that will bring the potential of Ethereum’s decentralized world to life. And while ether was intended to be the fuel that powers applications on the Ethereum platform, we are moving into a world where an enormous variety of tokens can start to be used on the payment side of a transaction. We’re thrilled to see the elegant Abra non-custodial wallet natively support ether and Ethereum as another powerful step towards integration amongst various cryptocurrencies, crypto tokens, and state-issued money via banks and credit cards.”[/perfectpullquote]
Use Abra to buy Ethereum, get $25 of free ETH
Abra is the simplest and most secure way to build a crypto investing portfolio and, starting today, the company is offering $25 of free ether for any new Abra wallet activations. Getting started is easy. To qualify:
- Download the Abra app using this promotional link.
- Set up your first wallet and buy a minimum of $5 of ETH using a U.S.-based bank account or an American Express card to get $25 of ETH.
- Get your free ETH after completing the above steps within 10 days.
Offer expires March 31, 2018. Terms and conditions apply.
5 reasons to use an Abra wallet to buy Ethereum
Unlike other investment apps, cryptocurrency exchanges or wallets, Abra is super simple to use, and has loads of unique features:
- Simple and accessible: Abra is available in 155 countries around the globe. All that’s required to set up a unique and secure wallet is an iPhone or Android phone. Abra is an ideal wallet for developers building on Ethereum or Bitcoin as it’s incredibly accessible to the average consumer.
- Decentralized: Abra is based on a non-custodial architecture meaning Abra doesn’t control or have access to users’ funds. Instead, they are secured on the blockchain and accessible only by a user’s unique recovery phrase.
- Crypto-backed: The tech underlying Abra also makes it unique and globally accessible. Most of the assets available to invest in the app are synthetic assets, which are made possible by Abra’s creation of crypto-collateralized contracts (C3). This functionality takes advantage of the programmable aspects of Bitcoin, and makes the underlying investment as secure as the blockchain, and easily tradeable.
- Liquidity: Sending money (in crypto or fiat formats) to another Abra user is super simple. The best part is that you can send one kind of asset and they can receive it as another kind (like send bitcoin and receive euros), across the room, across borders, or across the planet. Abra also makes depositing funds either via bank wire, card or external crypto wallet as easy as a couple of clicks.
- Powerful portfolio: Abra supports over 30 cryptocurrencies and 50 fiat currencies and, coming soon, the ability to invest in traditional stocks and ETFs. Additionally, Abra users can gain exposure to the price movements of Ethereum by investing in the BIT10, an easily accessible crypto index. The index tracks weighted percentages of the top ten cryptocurrencies by market cap. Ethereum, because of its position in the overall cryptocurrency market cap, has historically held a large position by weight in the BIT10 index.
Native ETH support and the road to new Ethereum-based tokens and investment classes
More than just a cryptocurrency wallet, Abra is a global investment app that democratizes investing among many assets types. Native support for ether on the Abra platform is the first step to harnessing Ethereum’s ecosystem, paving the way to support innovative projects like ERC-20 and other Ethereum-based projects and the unique assets they provide investors.
[perfectpullquote align=”full” bordertop=”false” cite=”Willie Wang, Abra’s Vice President of Product” link=”” color=”” class=”” size=””]“The launch of native ether support is a crucial milestone for Abra and we’re excited to embrace the ETH community. The greatest part about this news is that this is just the beginning. In the near future, we will offer native deposit and withdraw support for the other ERC-20 tokens currently listed on Abra, in addition to other new tokens that we will now be able to list.“[/perfectpullquote]