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Author Topic: Abra Exchange & Wallet!  (Read 107 times)
vjwarmann
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March 16, 2018, 03:03:49 PM
 #1

Hi Everyone!

What do you all think of the Abra exchange and wallet? Anyone used it yet?

https://www.abra.com/blog/20-new-cryptocurrencies/

If you also want to join our crypto networking group, please join us here:

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March 17, 2018, 07:31:09 AM
 #2

Haven't heard of this one before, I assume that it's new?. Anyway I've read some info on their site and it seems nice to try for daily transactions but not for long term storing.

It's similar with coinomi, you can store multiple cryptocurrencies and exchange them in the app, of course it's also a non-custodial. The difference is they have their own exchanger (not powered by shapeshift) and also deals with fiat.

The fees are also fair IMO: https://support.abra.com/hc/en-us/articles/213435307-What-fees-does-Abra-charge-

But I think the app targets people in the PH and US: https://www.abra.com/send-money/philippines/

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March 17, 2018, 11:15:25 AM
 #3

It doesn't look like there are plans to make this open source or give control of private keys to the users, I wouldn't recommend it regardless of the features it has.

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March 17, 2018, 03:08:06 PM
 #4

Yes, I have heard so many times about this exchange/wallet because its based on my country, Philippines.

Many people use this wallet already but I never tried to make an account yet, there are so many positive reviews already but there are some negative too. And I only can't assure on this wallet/exchange in terms of security.

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March 17, 2018, 03:59:00 PM
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Yes, I have heard so many times about this exchange/wallet because its based on my country, Philippines.

Many people use this wallet already but I never tried to make an account yet, there are so many positive reviews already but there are some negative too. And I only can't assure on this wallet/exchange in terms of security.
Ohh really,but I never heard any exchange named with Abra and mostly the Phillipines people use Coin.ph exchange for selling and storing their bitcoins.But it is better to get reviews from the users before depositing any amount into it.

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March 17, 2018, 05:46:57 PM
 #6

Ohh really,but I never heard any exchange named with Abra
But now you did...

and mostly the Phillipines people use Coin.ph exchange for selling and storing their bitcoins.But it is better to get reviews from the users before depositing any amount into it.
Coins.ph is much more popular than Abra since they operated way back in 2014 but Abra is just new in here so most probably... But if you're active in some trading groups in PH you can see/read some suggestions that abra is a good wallet/exchange where to buy/sell BTC to fiat and vice versa since coins.ph is famous of having huge fees when you buy/sell on their platform.


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March 17, 2018, 08:07:30 PM
 #7

It doesn't look like there are plans to make this open source or give control of private keys to the users, I wouldn't recommend it regardless of the features it has.
They are giving recovery phrase. https://support.abra.com/hc/en-us/articles/115003160368-Who-has-control-of-my-private-key-

I haven't used abra but I have heard them many are using it and it's not only based on one country.

Many people use this wallet already but I never tried to make an account yet, there are so many positive reviews already but there are some negative too. And I only can't assure on this wallet/exchange in terms of security.
Me either, the negative one that you are saying might be the fees fiat->bitcoin.


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March 18, 2018, 07:09:32 AM
 #8

It doesn't look like there are plans to make this open source or give control of private keys to the users, I wouldn't recommend it regardless of the features it has.
They are giving recovery phrase. https://support.abra.com/hc/en-us/articles/115003160368-Who-has-control-of-my-private-key-

I haven't used abra but I have heard them many are using it and it's not only based on one country.

Many people use this wallet already but I never tried to make an account yet, there are so many positive reviews already but there are some negative too. And I only can't assure on this wallet/exchange in terms of security.
Me either, the negative one that you are saying might be the fees fiat->bitcoin.


It's unclear. It's like saying that you have a password on a website, therefore you can control over your funds. Unless these recovery phrases are owned exclusively by you, and is able to be imported to other compatible wallets other than Abra, it doesn't say much. Plus it's still close source.

Also you're dealing with something really sensitive here by using it which is fiat. When you have fiat and crypto mixed together you usually will not have as smooth an experience, and many problems could occur.

It only came out this year, in fact probably this month. I would first at least look for some reviews saying that it's legitimate before I start using. Even if I do decide to use it I would use with small amounts, as with any non-cold storage wallets.

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March 20, 2018, 04:52:23 PM
 #9

What do you all think of the Abra exchange and wallet? Anyone used it yet?
I have used it several times before because they have better sell rate for Bitcoin compared to coins.ph and never experienced any problem with them yet, they support only Bitcoin and Ethereum (not fully operational) at the moment. They also let you make a backup of your recovery phrase but still not recommending it to use for storing your Bitcoins or Ethereum and only use abra if you are going to buy or sell your coins. By the way, as far as I know abra only supports banks from USA and Philippines so if you are not from the said countries better not use it.

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March 20, 2018, 11:06:53 PM
 #10

Looks like this one is based on Philippines but haven't heard about them before. Looks like they are focusing on mobile app and provide service only through apps but as they are just like other centralized crypto wallet and even with less trust compared to other centralized wallets like coinbase, xapo so I won't use this one.

Coinomi is working enough for me right now.

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March 21, 2018, 05:42:40 AM
 #11

Looks like this one is based on Philippines
They are founded at US but they also operate in Philippines.
https://www.abra.com/about-us/
they support only Bitcoin and Ethereum (not fully operational) at the moment.
Well there are many cryptocurrencies now that you can use and invest with them.
https://www.abra.com/cryptocurrency/



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