A few days ago, Abra – the world’s first multi-functional wallet and exchange app with support for more than 25 cryptocurrencies and 50+ fiat currencies had announced support for Litecoin trading activities along with few other top currencies as part of their next update. Earlier this morning, what came to light as they announced was the implementation of the previously mentioned. They are now open to Litecoin [LTC] deposits and withdrawals with all functionalities operating normally on their multi-support application. Users are however required to compulsorily update their apps to avail this new feature and use the latest features to the fullest.
AbraGlobal tweeted the same:
“We now support direct #Litecoin deposits and withdrawals! You can now fund your account with LTC from an external wallet and invest in the 25 cryptocurrencies and 50+ fiat currencies on Abra. Please make sure your app is updated to the latest version!”
As they announced the support with excitement, they also mentioned about the success and fame Litecoin [LTC] has gained over years and probably why they added the feature quickly. Litecoin has been one amongst the most popular currencies in the crypto world in terms of transaction volume and we want to provide easy on-ramps for the Litecoin community to invest, they mentioned.
The CEO of Abra, Bill Barhydt also tweeted:
“Excited to announce
#litecoin deposits and withdrawals are available for all Abra users on iOS and Android.”
The new feature directly means that users can fund their wallets with Litecoin and gain exposure to any of the digital assets that are supported by Abra. This is definitely a win-win situation for both the digital asset and the much popular crypto wallet app.
Additionally, the mentioned:
“We are working on supporting direct deposits and withdrawals for other cryptocurrencies on our platform. So stay tuned for future updates!”
The procedure to do utilize the new feature as explained by Abra:
Please restart the app and you should see a new confirmation screen. You will see the option when you select your Litecoin wallet, then hit ‘Add Money’ then ‘Use litecoin’. If you have any questions, do not hesitate to reach out
Few other cryptocurrencies that recently went live on Abra include Monero [XMR], NEO[NEO], Lisk[LSK], NEM[XEM, and Verge[XVG]. This wraps up the list to 25+ currencies support as of now with more than 50 fiat currencies also being supported on the same platform.
Hunter Horsley, a Twitterati says:
The tech behind AbraGlobal is incredibly cool. A instead of brokering coins, they issue swaps programmed in a smart contract, which they then hedge centrally. A brilliant approach.”
Michael Novogratz, a popular social media figure from Galaxy digital tweeted:
“I do like ABRA. Cool solution for retail players..”
A Litecoin enthusiast, The Panther of Litecoin says:
“I can not praise
@AbraGlobal @Abra_Support and @billbarhydt enough for such a great product and A1 customer service. I highly recommend you guys download Abra if you have not done so already and if you want Litecoin full access just reply to this tweet! #ŁitecoinNation Let’s Go!”
CEO Chainstone Labs & Atlantic Financial, host of the Satoshi Roundtable, Board member of Medici Ventures & The Bitcoin Foundation, Bruce tweeted:
“Abra wallet is very innovative: – One HD wallet holds your Bitcoin – you control your own private keys – behind the scenes on the backend they trade based on your trades and denominate it in Bitcoin – to do this the App uses cutting-edge smart contracts, Litecoin as rails.”
Charlie Lee, the founder of Litecoin [LTC] and the Managing Director of Litecoin foundation has been very popular in the industry with more than 760k supporters on Twitter alone. This simply shows the community’s trust factor on him and his accomplishments appreciation over the year. He along with his team has been continuously working as they continue to do so, towards a positive growth for their foundation as well the overall benefit of the community.
The crypto-enthusiast founder himself, Charlie Lee commented on a Twitter post of AbraGlobal as a response to some negative opinions:
“Some people don’t like the app for whatever reasons. Use it and figure out for yourself whether you like it or not. Or don’t. It’s up to you.”
Litecoin [LTC], the world’s 6th largest cryptocurrency has probably been disappointing the investors, as most of the currencies are doing. With a total 9.37% fall over the week and a continued dip of almost 4% since yesterday has brought down its price to $133.19. With the Abra support extension, LTC community is looking forward to a positive note despite the depressing market scenario. The supporters of Litecoin [LTC] do not seem to be very affected by the prices falling and have been seeing every possible positive outcome, standing with the community.
BTC Hoarder, a crypto-enthusiast says:
“Litecoin for the win! Thank you!”
Fewcoins, a twitterati says:
“Another good step for
#Litecoin adoption! Observing…”
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.