Abra Introduces Stock Investing | Buy Stocks With Bitcoin

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February 12, 2019 – Crypto wallet app Abra is set to launch a feature that will allow users to invest in stocks and other non-crypto financial instruments.

In a blog post, Abra reveals it is opening opportunity to invest in non-crypto financial instruments – such as US stocks, exchange-traded funds (ETFs) and even commodities within the app. This feature will be available to Abra users in 155 countries including the Philippines.

If the user has bitcoin, they can also use it to make stock investments. (Read More: How to Buy Stocks with Bitcoin Through Coins.ph)

According to Abra, this is made possible with crypto-collateralized contracts (C3). The company explains that using bitcoin as the underlying technology for any investment, any investor can gain immediate investment exposure to any asset, such as stocks, bonds, or even other cryptocurrencies.

Abra gives the example of buying $1,000 worth of Apple shares. The user only has to place $1,000 worth of bitcoin into C3, creating a smart contract.

As the price of Apple goes up or down versus the dollar, bitcoin will be added to or subtracted from your contract.

The underlying bitcoin will adjust itself accordingly to be equal to the value of the Apple shares. Abra said it is taking the risk on these contracts but it is very confident because it has already processed hundreds of millions of dollars worth of similar investment contracts and has never lost money on those. (Read More: Using Abra to Buy Bitcoins in the Philippines)

Anyone can join the pre-launch list, which will allow those users to experience zero trading fees on all equity products for the entire year of 2019.

Abra allows users in the Philippines to purchase cryptocurrency and even use the app as a digital peso and crypto wallet. Users can create more wallets, like an ethereum wallet, a USD wallet, etc all within a single app. Users can buy bitcoin and other cryptocurrencies on Abra using a credit card as well. (Read More: How to Use Use Debit / Credit Card to Buy Bitcoin in Abra Wallet)

Recently, Abra launched Bitwise 10 Crypto Index Token (Bit10). When users acquire Bit10 tokens, it allows immediate exposure to the to the top 10 cryptocurrencies by market cap.

This article is first published at BitPinas on February 12, 2019: Abra Introduces Stock Investing | Buy Stocks With Bitcoin

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]