Abra Adds Native Support for Ethereum

Crypto service provider Abra has added native Ethereum support to its platform.

This development has enabled the cryptocurrency wallet and exchange users to receive, hold, sell, and buy Ethereum directly on the platform. Users can even trade other digital assets listed on the trading platform with the newly listed altcoin.

The platform, till now, allowed deposits using US-based bank accounts, American Express cards, Bitcoin, Bitcoin Cash, and Litecoin. Though the platform did not support Ethereum, it listed a “synthetic” version of Ether, which exhibited the actual market price movement of the coin, but the user was not holding any digital currency on the Ethereum Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.

Mentioning this development, Bill Barhydt, founder and CEO of the digital asset exchange, stated: “By adding native ether support, Abra users will now be able to easily buy and move Ether from other wallets to the Abra app. This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.”

“This is Just the Beginning”

Along with the native Ethereum support, the platform also has other plans to expand its services as Willie Wang, vice president of the company, stated: “In the near future, we will offer native deposit and withdraw support for the other ERC-20 tokens currently listed on Abra, in addition to other new tokens that we will now be able to list.”

The fiat-to-crypto trading platform now lists over 30 digital assets and 50 fiat currencies. Last October, the firm also launched a cryptocurrency index called BIT10, which tracks the ten largest Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term by market capitalization.

In addition, to lure the crypto traders, the platform is offering $25 worth Ether to all new customers purchasing at least $5 worth cryptocurrencies on the platform till March 31st.

Meanwhile, the blockchain-based platform recently added support to buy fractions of mainstream financial instruments including stocks and exchange-traded funds (ETFs).