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Mobile Wallet App Abra Adds Credit Card Options to Purchase Bitcoin

Abra announced on a blog post yesterday that bitcoin can now be purchased through their services with a VISA or MasterCard credit or debit card.

This option was made possible through a new partnership with Simplex, a company whose technology “allows exchanges, brokers, wallets, merchants, and marketplaces to conduct business online with complete fraud protection.”

Some key features of the service:

  1. Bitcoin buys can range from $50 to $20,000 at a time.
  2. 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.
  3. The purchased bitcoin is usually available in 20 to 30 minutes, depending on blockchain processing times.

Speaking with Bitcoin Magazine, Abra CEO Bill Barhydt stated, “Today we have users from over 70 countries, but the majority of these users who are outside the U.S. could only fund their Abra wallet using bitcoin. With this launch, we can now offer a simple way for customers globally to use Abra to buy their first bitcoin using any Visa or Mastercard and then start investing in any of the other 24 cryptocurrencies we support today.”

Abra, notably, is one of the few cryptocurrency platforms to not fully embrace KYC/AML regulations as the platform is open to all; however, to increase funding limits beyond the standard amount, U.S. citizens need to submit a proper form of government issued identification.