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Abra, based in San Francisco, has just made cryptos more accessible with their global investment application.
Lower the barrier for investors
One of the main complaints of cryptocurrency users is the ease of use. Well, Abra, based in San Francisco, has just made cryptos more accessible with their global investment application.
The investment application allows anyone to invest in stocks and traditional ETFs, as well as in more than 30 encrypted currencies directly from their smartphone. It also provides non-depository accounts with secure funds on the Bitcoin blockchain.
The Abra app has many interesting elements that make it an interesting perspective. In a world characterized by an uneven distribution of wealth and limited access to investment opportunities, Abra allows (almost) all investors to invest. For starters, rather than having high entry fees, investors can start with only $ 5.
This is to make investing in stocks and bonds more affordable. It also means that investors can not only own a fraction of a bitcoin or an ether, but also a fraction of a stock and a high priced ETF.
Some of the options offered at the initial launch are popular technology stocks such as Google, Amazon and Netflix. There are also commodities such as SPDR Gold Trust.
Abra President Bill Barhydt said:
Investing in stocks can be a daunting, complex and resolutely exclusive business … We develop investment products based on Bitcoin because, for the first time, we can truly democratize access to business opportunities. investment on a global scale.
Secure and private technology
Even more interesting for Bitcoin fans is the fact that the Abra application is not devoid of monitoring. The funds are stored on the Bitcoin blockchain and the application uses smart contracts as the technology behind user investments.
This means that Abra users will never have to trust the company with their money nor worry about losing their funds to the benefit of hackers. Their transactions are also more private because they are not kept in a centralized database.
Where can I get Abra?
The Abra app is already available for download on Google Play and on the Apple Store. Users can create an account on their phone and link it to their bank account or send payments with crypto-currencies.
They can send payments via bank transfers, credit cards and crypto-currencies to access all the badets of the application. You will also be able to trade all major currency for several cryptos and send instant transfers to other Abra users.
When you will be in a relationship smartphone penetration around the world With technology that allows almost everyone to gain a foothold in previously unrestricted investments, Abra's proposal is well worth it.
It's also a world first, attracting investments like American Express Ventures, Foxconn Technology and First Round Capital.
What do you think about the ability to invest in cryptocurrency without custody? Let us know below!
Images courtesy of Shutterstock
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