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Crypto Wallet Abra Allows Direct EU Bank Transactions

Benson Toti

There are a growing number of crypto wallets on the market, which has led to some debate over which is the best wallet for crypto investors. This largely depends on what and how you would be using it, but there are certain features that are generally deemed more important than others. As the industry is still so young, each wallet is trying to get, and stay, ahead of its competition. One such wallet which has made a big move of late is Abra. The international crypto wallet now allows you the opportunity to buy and sell such digital currencies as Bitcoin (BTC), Ethereum (ETH), and Internet of Things (IOTA) through bank accounts in Europe.

Abra adopting EU payments

Abra, which offers 28 digital coins to worldwide consumers, will now accept Single Euro Payments Area (SEPA) bank accounts. The firm has already begun its in-app Euro bank purchases of crypto coins like BTC and ETH. Users of the app previously had to fund their wallets via a number of credit cards or wire transfer from the US.

You’re now able to transfer a number of national currencies, including euros, to your wallet directly, which can then be converted into Abra’s 28 cryptocurrencies, including ETH and IOTA.

Three new coins on board

Along with now supporting SEPA bank accounts, the firm has announced three additional digital coins added to its wallet: Tron (TRX), Basic Attention Token (BAT), and Cardano (ADA).

Until Abra’s recent announcement, the wallet had only accepted funding from US banks and US wire transfers, along with Visa, MasterCard, and American Express credit and debit cards around the world.

The perfect complement

This latest move from Abra complements the allowed transfers from Filipino and US bank accounts. The app also provides funding via prepaid and credit cards in the US, through physical money in the Philippines, and deposits in Bitcoin Cash (BCH)Litecoin (LTC), and BTC. The BCH deposits are a recent addition to Abra.

SEPA is a simplified payment system that makes EU bank transfers easier. It currently includes 28 members of the EU, along with four European Free Trade Association member states (Switzerland, Norway, Liechtenstein, and Iceland) and San Marino, Monaco, and Andorra.

About Abra wallets

Abra wallets are non-custodial, which means that only you know the private keys. They’re also 100 per cent peer-to-peer, so there is no middleman holding the transactions. The app retains transferred monies in BTC, but allow you to exchange it for one of the other 28 digital currencies on the market. You can then change it back to a different currency and deposit it in your SEPA bank account for a second time.

Whether this move leapfrogs Abra over all other crypto wallets is subjective, as other wallets have other advantages that may align more with your needs. To many, however, the ability to buy and sell crypto such as ETH and IOTA through EU bank accounts just might make it the wallet of choice.

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