Abra, a bitcoin and cryptocurrency wallet, adds three more cryptocurrencies in its 25 coins list. This means you can now store 28 different coins in your wallet in addition to different fiat currencies. Another big announcement it made is its direct deposit and withdrawals to bitcoin cash.
This article is first published on September 14, 2018.
A cryptocurrency wallet and exchange app that is headquartered in California and also has an office in the Philippines recently added support to three new cryptocurrencies. These are Cardano (ADA), Tron (TRX), and Basic Attention Token (BAT). This makes all the digital currencies it supports to 28.
- Cardano (ADA)
- Tron (TRX)
- Basic Attention Token (BAT)
- Bitcoin (BTC)
- Ether (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Dash (DASH)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Zcash (ZEC)
- OmiseGO (OMG)
- Golem (GNT)
- Vertcoin (VTC)
- Quantum (QAU)
- Monero (XMR)
- Lisk (LSK)
- Verge (XVG)
- NEO (NEO)
- NEM (XEM)
- Bitcoin Gold (BTG)
- Stellar (XLM)
- Augur (REP)
- DigiByte (DGB)
- Stratis (STRAT)
- 0x (ZRX)
- Status (SNT)
Another big announcement is the cryptocurrency wallet can now do direct deposits and withdrawals of bitcoin cash. This is in addition to the wallet’s BTC and LTC’s direct deposit and withdrawal ability.
What does that mean?
Abra users can now transfer bitcoin cash (BTC and LTC) directly to their Abra wallet. You will now have your own BCH address that you can use to deposit BCH and also transfer or withdraw BCH directly from the app.
Does that mean other cryptos aside from BTC, BCH, and LTC can’t be “directly deposited and withdrawn”?
Yes, tokens aside from its “natively supported BTC, BCH, and LTC” cannot be directly deposited and withdrawn. You will need to exchange it first on either of the three cryptos or a fiat currency before you can withdraw your non-natively supported token.
I still don’t get it.
Abra has a decentralized investing technology platform. As of this writing, it has 28 cryptocurrencies and 50 fiat currencies. You can exchange any of these 78 currencies in real-time using the wallet.
The three cryptocurrencies: Bitcoin, Litecoin, and Bitcoin Cash are natively supported. This means you can deposit these tokens from a third party source and store it in the wallet. The other 25 cryptocurrencies, you can have them by exchanging your BTC, LTC, BCH, or fiat to your token of choice within the app. Withdrawing the 25 cryptos means you will need to exchange it back to BTC, LTC, BCH, or fiat currency first before you can withdraw.
To keep it short, the wallet will let you exchange within the app to any of the 78 currencies it supports. You cannot deposit any cryptocurrencies in the wallet aside from BTC, LTC, and BCH.
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- Philippines’ Central Bank Forms Fintech and Blockchain Unit
- List of Cryptocurrency Exchanges in the Philippines
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