The mobile application provider Abra has announced the expansion of product functionality by adding the option of investing with Bitcoin and other cryptocurrencies into traditional financial instruments, such as company stocks and exchange traded funds (ETF).
According to the company, the application will be available to residents of 155 countries of the world, and investments in stocks and ETF throughout the year 2019 will not be subject to commissions. At the same time, the minimum amount of financial investments is set at an exceptionally affordable level of $ 5.
Big News: #Stock and #ETF #investing coming to Abrahs $ 0 fees for 2019.
Available in 155 countries
Fractional investing w / $ 5 minimums
Private and secureWelcome to the #futureofinvesting , built on #Bitcoin ! https://t.co/rvixGS74el
– Abra (@AbraGlobal) February 6, 2019
Initially, the Abra app will have 50 assets available for investment, including shares of companies such as Facebook, Apple, Amazon, Google, Netflix, SPDR Gold Trust exchange funds, Vanguard Growth and S & P 500, as well as indexes like Russell 2000.
“We believe that, in addition to global access, financial products should be easy to use and easy to understand. To achieve these goals, we are constantly improving the [user] experience of the application and offer information (price charts and asset summaries) that helps make informed investment decisions, ” said Abra CEO Bill Barhidt.
He also expressed the conviction that over time the number of countries where the application operates will increase.
“This list will grow as more and more people understand the inevitability of decentralized finance and the value of Bitcoin as a means to help come to this. It shouldn't matter where you live or how much you earn to participate in better investment opportunities, ”added Bill Barhidt.
The application itself is not castodial, that is, it does not store user assets. As the company notes, using the bitcoin blockchain for this purpose, it makes transactions “more secure and private than their counterparts in the centralized databases used by most cryptocurrency exchanges and wallets”.
Also in the statement, Abra says that the blockchain capabilities allow any asset that “has a reliable flow of quotes” to be tied to the price of bitcoin.
To start using the application, you must apply for early access and wait for your turn. At the time of writing, the waiting list was close to 8,000 users.
Recall that last year the Abra application added support for bank cards , as well as the ability to buy Bitcoin and other cryptocurrencies using SEPA payments .
In addition, a Bit10 investment token was launched on the basis of the Bitwise cryptocurrency fund.
BlockchainJournal.news
BlockchainJournal.news
