Abra was founded in 2014 by Pete Kelly and Bill Barhydt and is headquartered in Silicon Valley, California. Initially, Abra was a network of tellers located throughout the country, enabling users to transfer and receive cash in one-on-one interactions.
Abra added the ability to trade bitcoin in 2017 in addition to wire payments and bank card deposits. The teller system was first limited to the Philippines.
Abra Wallet currently lets users invest in a range of digital assets, including about 30 cryptocurrency coins and over 50 fiat currencies.
Configuring Abra Wallet
Abra is unique in comparison to other software wallets. To configure it and begin using it, follow these steps:
- To begin, download the Abra app from the App Store or Google Play Store, depending on the mobile operating system installed on your smartphone.
- After installing the Abra app, you will be prompted to provide your email address, name, and phone number.
- Following this step, you’ll receive a text message containing a verification code and will be prompted to generate and confirm a four-digit PIN.
- Then, write down the seed phrase that will enable you to recover your valuables in the case that your device is damaged or stolen.
- Additionally, you must clarify whether or not you are a US resident. After completing these procedures, you can fund the app with monies from another cryptocurrency wallet, bank card, or wire transfer.
- The software has a dashboard that provides a snapshot of your asset portfolio. Additionally, you can transfer and receive cryptocurrencies from this location.
The simplest thing to handle on the Abra app is a cryptocurrency, which is widely available. They can be used to finance your account, however, there are many alternatives available, including the following:
- Wire Transfer – Bank wires in the United States of America (international currently unavailable)
- Local Bank Transfer – ACH in the United States, SEPA in the European Union and the Philippines
- Bank Card – American Express (only available in the United States), Visa, MasterCard
- Cryptocurrency – Ethereum, Bitcoin, Litecoin, & more.
Abra Wallet Security
Abra employs all industry-standard security measures to safeguard wallets, including phone number verification, PIN generation, and seed phrase generation. Additionally, Abra secures personal information through the use of encryption and does not divulge critical financial data, such as a bank account number, to anyone throughout the transfer process.
Additionally, Abra is non-custodial, which means that the developers do not have access to the seed phrase. This protects the user’s finances and digital assets. Additionally, it argues that the United States’ money transfer restrictions do not apply in this scenario, as Abra never has access to its users’ monies.
Abra Wallet App Download
The wallet application is completely free to use. It is accessible for Android and iOS users to download from their respective app stores.
Is Abra Good for Beginners?
Abra is simple to use and anyone can follow the step-by-step installation process because it is a mobile software available for both iOS and Android users. Additionally, the user interface is extremely intuitive, and the menu system and tab arrangement make it simple to locate desired functionality.
Anyone looking for an even simpler way to purchase Bitcoin can do so directly from the Abra website via Simplex using a credit or debit card.
Despite this, investing in cryptocurrencies and equity requires a learning curve and requires caution and attention to achieve the greatest outcomes. As a result, the Abra team provides a variety of tools, including guides, research, Bitcoin 101, and a frequently asked questions section.
Additionally, Abra maintains an active customer support team, which may be reached by live chat, mobile app, email, or social media platforms
Abra.com’s live chat is open from 9:30 a.m. to 4:00 p.m. PST M-F, and the team can be contacted via the “Contact Us” link in the app or by emailing support@abra.com. Additionally, the crew can be reached through their Telegram group, Twitter account, and Facebook page.
Cryptocurrencies Accepted
Abra Wallet is available in over 150 countries and enables users to trade the world’s most prominent cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), EOS, Bitcoin Cash (BCH), Litecoin (LTC), NEO, XRP, XMR, and TRX. Additionally, it supports a variety of fiat currencies, including the USD, GBP, EUR, CNY, CAD, and JPY. Additionally, the wallet enables users outside the United States to invest in globally coveted stocks like as Amazon, Facebook, Apple, and Netflix.
Summary
With its simple UI, support for traditional trading, and platform independence, Abra Wallet is an excellent choice for newbies who are just getting started in the crypto world and want to keep their currencies secure and accessible. The UI is simple to use and browse, and the wallet supports all main cryptocurrencies used by traders.
