You can now fund your wallet using VISA or Mastercard globally! Buy bitcoin with your debit or credit card on the web or directly in the Abra app: https://t.co/Z6ap7kVlaR
— Abra (@AbraGlobal) 12 July 2018
Users of the Abra app and Abra.com are now able to purchase Bitcoin with Visa and Mastercard, anywhere in the world. This is a move that is set to make the purchase of Bitcoin far easier for a whole host of investors.
Traditionally, Abra users have thus far only been able to fund their Abra accounts through a direct bank transfer. This can be time consuming and can even take a while to be authorised, meaning users didn’t have instant access to Bitcoin purchasing.
Otherwise, users would need to already hold cryptocurrency in order to buy through Abra.
According to an Abra press release, this new integration of Mastercard and Visa hosts a whole range of benefits:
- “Bitcoin buys can range from $50 to $20,000 at a time.”
- “Buyers can direct their bitcoin buys to any supported wallet, or set up a new wallet with Abra, which enables investing access to 24 altcoins and 50 fiat currencies.”
- “The purchased bitcoin is usually available in 20 to 30 minutes, depending on blockchain processing times.”
“The actual purchase of bitcoin with a credit card is as easy as conducting any other kind of transaction on the internet. All you need to do is enter the amount of bitcoin you want to purchase, enter a bitcoin wallet address, enter your credit card or debit card information, and then confirm all the details.”
You can see the full post, here.
In terms of cryptocurrency adoption, this is big news. In order for Bitcoin to become ‘adoptable’ it needs to be as easy as possible to purchase. Under this new format, buying Bitcoin is just like buying any other product online with a debit or credit card. Abra are by no means the first platform to offer this service, but their unique integration within the Litecoin network does make this news somewhat slightly more significant.
Above all, this is sure to improve the customer experience of Abra and will no doubt see a boost in Abra’s profits too.