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50 fiat and 20 cryptocurrencies now available on Abra

Sthuthie Murthy

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50 fiat and 20 cryptocurrencies now available on Abra
Source: Wikimedia Commons

Abra has a great new find; it introduced the World’s first multi-cryptocurrency wallet and Exchange. By this they mean, it can support 20 different cryptocurrencies and up to 50 fiat currencies in a single app. It is inclusive of real-time exchange services across all 70 currencies which allow the users to buy, sell or store any of these within the Abra app and exchange without any limitations. This makes it the only app in the entire globe with this all-in-one smartphone application and all capabilities.

Many have excitedly announced the addition of their currencies on the platform:

Ripple’s official Twitter handle posted earlier this morning:

Ripple's Twitter announcement

Ripple’s Twitter announcement

Charlie Lee, the creator of Litecoin posted earlier on Twitter:

“Abra chose Litecoin over Bitcoin Cash because of Litecoin’s better security and its adherence to Bitcoin’s scalability roadmap. 🐔🚀 #flappening”

In the United States, users can fund wallets across the world with Bitcoin, ACH or via bank wires and is supported by American Express cards. There is no need for any additional KYC details apart from their phone number while depositing Bitcoins. They have also stated that native support for Litecoin and Ether deposits will be added very soon.

The best feature is the no transaction fee for currency exchanges.

Technology Backstage

Abra created one of a kind stable coin platform and integrated exchange to bring up this product. It supports both fiat and cryptocurrencies using a combination of LTC and BTC based contracts.

Jonathan Bem, a crypto enthusiast is all ecstatic when he commented:

“This is awesome!! I am very impressed with the quick responses from the development team. We will definitely look into your Android Exchange. We look forward to seeing other coins that we have in our portfolio added to your platform.”

There were a lot of questions and doubts posted on their forum to which the team responded quickly. Here are few of the clarifications:

Q: I hope you already have web services. Most crypto enthusiasts are on the internet via web browsers.

“We are actively looking forward to extending Abra’s platform to the web. However, in the short-term, we are focusing on development efforts on iOS and Android. Thanks for the feedback though!”

Q: When will we be able to exchange Digibyte? On behalf of the DigiByte Design Team, I would like to point out that you are using the outdated DigiByte logo and ‘’Digibyte’’ name. ‘’DigiByte’’ is the official name with capital B and we would highly appreciate if you could update to the rebranded one as soon as possible in order to avoid any confusion for the new DigiByte users and ensure brand consistency and trust.

“Thanks for letting us know, we’ll make the logo change promptly!”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

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Altcoins

Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development

Akash Anand

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Tron CEO claims stablecoins will be the key focal point for cryptocurrency development
Source: Pixabay

The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.

Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,

“Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”

Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,

“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”

The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,

“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”

This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.





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