Ed Drake

Abra announces native support for Bitcoin BCH

Cryptocurrency wallet app Abra has announced native support for Bitcoin Cash (BCH), allowing users to deposit and withdrawal directly in Bitcoin BCH for the first time.

With accounts numbering into the hundreds of thousands, Abra claims to be the only wallet service in the world where users can buy, sell, store and invest in any of 28 cryptocurrencies. While BCH had been supported before, the launch native support opens up more of the app’s features for users of Bitcoin.

The firm announced the upgrade last Sept. 12, discussed at length in a YouTube interview between Abra founder and CEO Bill Barhydt and CEO Roger Ver. The support for BCH was first announced by Abra on Twitter.

In the video, Ver describes how an increasing number of apps like Abra, merchants and other businesses are turning to Bitcoin BCH as their cryptocurrency of choice, primarily because of its speed, reliability and low transaction costs.

Now, with full native support for BCH through their app, Abra is hoping to appeal to the growing number of BCH users looking for a mobile wallet solution for handling their BCH holdings.

The support now enables BCH users to send money to their Abra wallet from any BCH wallet, as well as the on-platform storage and investment functionality.

The Abra wallet is a non-custodial wallet—cryptocurrencies and private keys are held only by the users. It is strictly peer-to-peer and doesn’t use an intermediary to hold, manage or access the funds at any time during the transactions.

Barhydt founded Abra in 2014. It has its headquarters in Mountain View, California, with an additional office in Manila, Philippines. Barhydt was a former software engineer with Goldman Sachs before coming up with the idea of Abra. It received $14 million in seed funding by RRE Ventures, First Round Capital and Arbor Ventures, as well as backing by American Express and Ratan Tata.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

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