Abra Inc. is bringing its clients a whole new cryptocurrency market that will allow them to compare prices and buy more than 600 separate types of cryptocurrency from single locations. The platform is designed to be global, meaning it can be accessed by traders and crypto fans from virtually all points of the world.
Abra Is Allowing Customers to Compare Crypto Prices
Abra – which was founded roughly six years ago in 2014 – initially started out as a peer-to-peer cryptocurrency remittance platform in which workers employed abroad could potentially send money back home to their families using blockchain technology.
However, in recent years, the company has shifted more towards serving as a standard cryptocurrency exchange, in which customers can buy, sell and trade a multitude of digital currencies such as bitcoin and Ethereum. As it stands, Abra’s services are available in more than 150 countries. In addition, it also offers customers the chance to invest their cryptocurrency units and potentially earn interest.
One of the big benefits that comes with the company’s new trading market is the amount of new payment methods that customers can utilize to get their fingers on crypto. As it stands, the company allows both Visa and Mastercard payments, but is also permitting payments through Apple Pay, Google Pay, Samsung Pay, SEPA, BPAY, and Australian Post – amongst other methods – to cover transactions.
Furthermore, customers can also utilize bank transfers to complete their purchases. At the time of writing, bank transfers are permitted granted they occur through financial institutions in Australia, India, Europe, the U.K. and Canada.
But perhaps the biggest advantage of the latest trading platform is that people can initially see which currencies are being sold where. They can decide on what they want to pay and find a source that offers prices that best fit with their needs and goals. From there, they can initiate payments to the source in question. This is designed to give traders more say and versatility in their choices.
Some Small Dings Here and There
Abra chief executive officer Bill Barhydt explained in a recent interview:
We are on a mission to drive the mainstream adoption of cryptocurrencies, and with the launch of the crypto marketplace, we have taken it a step closer. Consumers can simply select the cryptocurrency they want to buy in their local currencies and check out using bank transfers, credit cards and retail cash points.
Abra has experienced a few ups and downs. Last July, the company ran into a bit of trouble with the U.S. Securities and Exchange Commission (SEC) for allegedly selling unregistered security tokens. The company settled with the agency, eventually paying a fine of roughly $300,000, though this was a small price to pay considering the company has garnered more than $50 million in funding from enterprises such as American Express Ventures, RRE Ventures and the Stellar Development Foundation.