Abra, the fintech firm based in Mountain View, California, announced more positive Bitcoin news. It is now accepting Visa and Mastercard for Bitcoin transactions. The move is intended towards making buying and selling of Bitcoin more convenient for its rapidly growing user base.
Key Features of the New Addition
On July 12, users were able to start using their Visa or Mastercard debit and credit cards to buy Bitcoin using the official Abra mobile app or website. Prior to this new addition, the company supported only three payment options to perform transactions:
- transfer of Bitcoin purchased on another platform,
- transactions completed using American Express card,
- bank or wire transfers.
With the addition of Visa and MasterCard into the payment options, Abra users can now buy Bitcoin tokens worth anywhere between $50 and $20,000 per transaction. This will make the platform more accessible to new crypto investors, as well as those who are turned off by the lengthy and often-complicated modes of purchase.
Additionally, users will have the option to transfer the Bitcoin tokens in their Abra wallet to any other wallet in real time, so long as the one-time verification process was already completed. As for new users, once they are registered on the Abra app, they can instantly start buying Bitcoin and 24 other crypto tokens using any of more than 50 fiat currencies accepted on the platform.
To further improve customer experience, Abra has vowed to make the newly purchased token available in the buyer’s wallet within 20 or 30 minutes. However, it is possible that users may have to wait a bit longer now and then depending on the speed at which the blockchain processes each new request.
Simple Four-Step Registration
In a blog post announcing the new addition, Abra notified users that the purchase of Bitcoin using MasterCard and Visa credit/debit cards is as simple as any regular online transactions. It’s a four-step process that begins with users entering the amount of Bitcoin they want to buy.
Next, they will be prompted to enter their Bitcoin wallet address, followed by another message asking for the debit or credit card information. Once all the details are provided, Abra will ask the user for a final confirmation. Easy as that!