Abra wallet app - How to sign up and buy (Digibyte, Cardano and many more)

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 ABRA WALLET APP

 


While Coinbase is super simple, I like Abra as another way to quickly buy some other alternative coins, as well as the top coins. It only takes a day or two to deposit USD (usually the same day) vs other exchanges that take around 5 days. 


Abra is a bitcoin-based digital wallet app that lives on your smartphone. (Coinbase also has a mobile app, but Abra ONLY has this option.) It is an easy way to buy, sell, store, send and receive bitcoin from anywhere in the world. Abra supports bitcoin as well as over 50 global currencies which means you can convert in and out of bitcoin or any available currency, easily. You can also send bitcoin to anyone who has a bitcoin or an Abra wallet and receive bitcoin or money.


Simply search Abra on your app store and download it. You’ll have to go through a similar process as Coinbase.


I trust Abra because it is US-based and they go by the book. This means they will need personal info from you to help protect your funds: https://support.abra.com/hc/en-us/articles/228639307-What-personal-information-does-Abra-collect-and-how-is-it-used-


Banks supported by Abra: https://support.abra.com/hc/en-us/articles/115005236627-Which-banks-credit-unions-does-Abra-work-with-


Coinbase and Abra are my two favorite simple exchanges.


(For those who want Digibyte, another place to buy this coin and have it arrive directly in your wallet is Sequoir. You need a Digibyte wallet set up first and funds ready to withdraw from Coinbase or a wallet so you can buy this way. https://www.sequoir.com/ )



HOW TO SIGN UP AND BUY ON ABRA

 (It has the main coins plus DGB, ADA and a few other popular ones Coinbase does not have.)


  1. Download the Abra wallet app (purple and white logo) from your Google Play Store or Apple Store. 

  2. As instructed, write down your recovery seed (12 random words) and keep that in a safe location. You can lose your phone and still access your cryptos with that recovery seed. Keep it safe! Don't take a photo of it, write it down on paper and hide it.

  3. Add your desired cryptos to your portfolio. Click the button on top right corner and click on the coins you want to see in your portfolio, like Digibyte, Cardano...etc.

  4. Link up a bank account (1-2 days to verify). Click Add Money and it will direct you to link up your account. Enter in any info needed.

  5. The next day or so you should be verified and you can add money to your account by depositing from your bank. To add money from your bank account that you just linked, click Add Money. Select Bank ACH Transfer and select the account. Enter in how much you want to deposit into Abra.

  6. The money will arrive the same day or within 1-2 business days. It arrives in the form of TUSD (True USD, a stable crypto like the dollar). It will notify you as soon as you login that it has arrived.

  7. Buy cryptos using the Exchange tab. Click on TUSD and then click on the coin you want to buy, like Bitcoin or Litecoin, Digibyte... whatever coins you’ve chosen as part of your plan. There are lots on Abra! Do good research on them so you are confident.


The limit for bank transfers in the US is $250 daily and $500 weekly. Verify ID to increase limits. 


How to deposit: https://support.abra.com/hc/en-us/articles/115003321467-How-do-I-deposit-into-my-wallet-using-a-bank-US-new-


To deposit cash into your Abra wallet using ANY of our supported banks (see list here), please do the following:

  • Open your Abra app, to your portfolio view.

  • Tap: 'Add Money' (now located at the bottom of your screen).

  • Tap: 'Bank ACH transfer'

  • Select: the bank account you'd like to use

  • Enter: the desired amount

  • Tap: 'Next'

  • Tap: 'Confirm Deposit'

If you haven't linked a bank account to the Abra app, click here.

Transactions will usually take 1-2 business days (excluding weekends and holidays) if no additional documentation is required by our bank integration partner. In select cases, additional documentation may be requested (specific documentation will vary from customer to customer). If you'd like to know more about our limits, click here.

The Abra wallet is designed to give you full, exclusive control of your private key. When you first download the wallet, you are prompted to write down a “recovery phrase”: that is your private key. So long as you keep your recovery phrase safe and do not install any malware on your phone, your private key will remain in your exclusive control.


HOW TO BUY:


  • Open the app

  • Assuming you already deposited money--it arrives in the form of TUSD (True USD)

  • Click Exchange on the top of the app

  • Select TUSD 

  • Select the coin you wish to buy

  • Enter in the amount you wish to spend (40.00 TUSD)

  • Confirm



Abra may be the easiest way to get into crypto. But also the easiest way to sell. Watch out for that. Don’t go crazy checking your portfolio every day.


I DO NOT TRADE IN AND OUT OF CRYPTOS just because the prices fluctuate...that’s a quick way to lose money. I just hold strong and buy more. No weak hands in crypto! Hold strong. This is not financial advice, just what I do.


https://masterthecrypto.com/4-common-pitfalls-every-crypto-trader-experience/

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