What makes Abra different?
It allows you to do things that other platforms don't, namely invest in other types of assets outside of the crypto world like stocks and bonds. Abra is available globally and supports 30 cryptocurrencies and over 50 fiat currencies using Bitcoin/Litecoin smart contracts. You can invest in multiple cryptocurrencies. Additionally, the Abra model is 100% peer-to-peer, with no middleman.
Most exchanges aren't safe enough to also use as a wallet. In fact, the only place I've ever been hacked is when I left funds sitting in an exchange wallet. However, Abra is more secure than most cryptocurrency exchanges since users are the only ones who can access their recovery phrase. This is because Abra is a non-custodial wallet so it never has access to your funds. According to the company,
"Non-custodial differs from traditional custodial services in that we do not store funds on your behalf. We use blockchain technology as the underlying mechanism to enable you to have complete control over your funds at all times."
As a word of caution, because of this added security, it's really important to create a backup and save your recovery phrase in a safe place. In the event your phone is broken, stolen, lost or the app is deleted accidentally Abra never has access to your funds or the associated recovery phrase. This is awesome in terms of security, but it also increases your responsibility for making sure you have a back-up plan if something happens to your phone.
Max Keiser Likes Abra
If you're a Max Keiser fan (King of Bitcoin), you've probably already seen the video below. I like to know the people behind the products I use so I wanted to share this with those of you thinking about signing up with Abra. This is not your ordinary wallet.
If you haven't seen the video, here's the second half of the Keiser report where Max talks to Bill Barhydt of Abra about their new product which will essentially create a bitcoin standard for the world by turning BTC into a unit of account. Get ready!
Ready to sign up! Wait a moment...
First, I want to explain a few things because I don't want you to waste your time. There are only two ways to get the $25 after you sign up for the account. Within 90 days of signing up for Abra, you must complete 1 of the following options:
- Option 1: Deposit a minimum of $5 to Abra's wallet using a US bank account or debit card.
- Option 2: Deposit crypto and exchange it to any other asset (except BTC, BCH, ETH, and LTC). You will receive 1.5% of the exchange total, up to $25. A minimum of $5 in rewards must be accrued to receive payment.
So the first step is to figure out if you can do Option 1 or 2. The second step is to download the app here. The third step is to follow the instructions to receive the $25.
If you run into any issues, I contacted Abra's support team on Twitter and got a response within the hour.
Let me know if you have any questions.