Cryptocurrency wallets have a major role to play in the cryptocurrency ecosystem. Wallets can be seen as real-world equivalent of bank accounts where currency is stored. The Abra Wallet has been around for some time - and it allowed Ethereum and Bitcoin transactions, as well as 50 fiat cryptocurrencies. The latest update to the Abra Wallet now brings in support for 18 additional cryptocurrencies - taking the total cryptocurrency tally up to 20!
This update comes to users of the Abra Wallet on Android as well as iOS. The latest update to the Abra Wallet brings in some popular cryptocurrencies such as Bitcoin Cash, Litecoin and Ripple, among various others. Here’s a complete list of cryptocurrencies which are now supported by the Abra Wallet:
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Bitcoin [BTC]
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Bitcoin Cash [BCH]
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Dash [DASH]
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Dogecoin [DOGE]
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Ethereum [ETH]
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Ethereum Classic [ETC]
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Golem [GNT]
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Litecoin [LTC]
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OmiseGO [OMG]
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Qtum [QTUM]
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Ripple [XRP]
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Vertcoin [VTC]
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Zcash [ZEC]
These are the currencies which are supported as of this writing. Abra has also announced that seven more cryptocurrencies will eventually be added to the list. These currencies which are to be added in the days to follow are:
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Bitcoin Gold [BTG]
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Stellar Lumens [XLM]
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DigiByte [DGB]
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Augur [REP]
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Status [SNT]
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Stratis [STRAT]
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0x [ZRX]
With the addition of Ripple to their wallet, Abra solves one of the biggest problems that has been affecting the Ripple community - the lack of a good wallet. While there are a number of wallet options available for Ripple, the number of wallets that support Ripple are way lesser than most other major cryptocurrencies.
With these currencies added to their list of supported currencies, the Abra Wallet now supports 50 fiat currencies and 20 cryptocurrencies. It is the biggest multi-currency wallet in the world in terms of the diversity of the supported currencies. The technology that powers these transactions is that of stablecoins, which are price-stabilized cryptocurrency tokens that facilitate holding both fiat coins as well as cryptocurrencies through a combination of litecoin and bitcoin based smart contracts.
“With the exponential growth of cryptocurrencies and their increasing importance in today’s culture, the Abra app offers a timely mobile experience that provides more access and exposure to these new digital currencies in an easy, quick and safe way,” said Bill Barhydt, founder, and CEO of Abra. “Our goal is to empower customers around the world, using their local currencies to freely invest in a wide variety of cryptocurrencies at any time, from anywhere without the restrictions of banks and fees. For the first time in the world, users can transact in and out of fiat or cryptos almost instantly.”