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26 May 2022
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Bitcoin News

Abra: Invest in shares and ETFs with Bitcoin

Abra, a cryptocurrency exchange and crypto-wallet provider, has announced a new feature of its blockchain app that makes it possible to invest with Bitcoin (BTC) in traditional equities and exchange-traded funds (ETFs).

People can register early for the new function that will be accessible to investors from 155 countries. Abra says there will be 50 investment options, including shares from companies such as Facebook, Amazon, Google, Apple, Netflix and ETFs like Vanguard Growth and the S & P 500.

Just as consumers can own a fraction of a Bitcoin, they will soon be able to use Abra for fractions of expensive stocks and ETFs.

Thus the company. The Abra platform uses a new investment model called Crypto Collateralized Contracts (C3s) that makes it possible to invest in all kinds of assets using Bitcoin and smart contracts.

Abra also claims that the company does not itself retain the investment of the users nor has access to the investments. Instead they are stored on the Bitcoin blockchain. That should make transactions safer than the central databases that use the most exchanges according to the company.

The minimum investment is $ 5 and early investors do not have to pay an exchange fee for the remainder of 2019, the company reports. How does the company make money? That is a rather complicated story.

Techsite Hard Fork explains that Abra essentially charges costs based on the difference between the lowest and highest price of an asset at the time of the transaction.

Hard Fork indicates that the app is similar to apps such as Bux and Plus500; platforms where most investors lose money. So, as always, be careful and read well before making major investments.

Last October, Abra announced a new token called the Bitwise 10 crypto token (BIT10).

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