Abra Now Holds Ether and Allows Ether Withdrawals
13 März 2019 - 06:06PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
ADVFN Crypto NewsWire -- As of today, the crypto “hodling” app
that uses Bitcoin-based derivatives contracts for almost everything
it does, now holds and supports Ether on a foundational level.
Specifically, what this means is that now Abra users can start with
Bitcoin, Bitcoin Cash, Litecoin, or Ether in their efforts to
invest in the many different assets, including stocks, that Abra
has to offer.
This starting point is precisely
why Abra has remained unique. It is not only simple to use, the
Abra team only holds these four assets in true custody, which means
that if someone wants to invest in another cryptoasset that the
platform supports, he or she will not truly exchange currencies to
receive it. Abra gives its’ users the rights to much more assets
like ADA and XLM through smart contracts that promise the user
these rights on the basis of one of Abra’s four natively held
currencies.
In other words, if ADA went up and
you wanted to cash out, until today, you could only do so with
Bitcoin, Bitcoin Cash, Litecoin, or fiat. Logically, this seemingly
sudden addition of Ether to this list raises an important
question.
Why now? Why introduce support for
Ether during the midst of a powerful bear market where a lot of
uncertainty still surrounds even crypto’s top ten currencies? On
one hand, the answer could lie in the SEC’s recent confirmation
that Ether tokens are not securities.
While this explanation seems
reasonable, at the time of publication, Abra had neither confirmed
nor denied this possibility. What company representatives did say
is that the future of their platform includes support for many
different ERC-20 tokens. Considering this, it is easy to see why
starting with full end-to-end support of the Ether currency is
paramount at this juncture.
By: BGN Editorial Staff
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