Abra Review: Key Features in 2024

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Reviewed by
Mileva Stankovic
Cryptocurrency Writer

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The investment scene is changing. It is opening up. 

And this Abra review will show you how the Abra app does just that.

Once upon a time, if you had hard-earned money you wanted to invest, you would need to buy rental properties, contact your stockbroker, or load up your retirement portfolio. 

This is all being changed by cryptocurrencies, smart contracts, and companies like Abra. 

I will cover this and much more in this Abra app review.

Let’s dive in!

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

Key Takeaways



  • Abra, founded in 2014, enables easy investment in 100+ cryptos and global fractional stock trading
  • It offers a diverse crypto selection, no deposit fees, and global accessibility
  • Limited altcoin liquidity, withdrawal fees, and mobile dependency
  • Seamless setup in five steps, prioritizing financial freedom and user-controlled funds
  • Standard fees with a 1% exchange spread; supports credit card purchases with a 4% fee
  • Secure, non-custodial wallet for convenient crypto management and diverse asset investment

Pros and Cons of Abra

Let’s quickly run this Abra review through the pros and cons.


Pros and Cons of Abra
Pros Cons
100 + new cryptocurrencies in the U.S. and 200 + new cryptos internationally on Abra Limited liquidity for certain altcoins compared to major exchanges
Abra does not charge when depositing with a bank account Withdrawal fees may apply
One spot to invest in ETFs, stocks, and cryptocurrencies Dependency on the mobile app for trading, limiting desktop functionality
Supports 70 fiat currencies -- excellent news for people around the globe Potential volatility in interest rates for cryptocurrency deposits
Very user-friendly mobile app The limited selection of traditional assets compared to specialized platforms
Accessible globally, providing services to users from various regions  


Brief How-To

Before I develop this Abra wallet review, here is a summary of the steps to follow to open an account on the Abra app and get into fractional investing.

  1. Download the app
  2. Put in your name
  3. Text message to verify your phone number
  4. Select whether you’re a U.S. citizen or not (U.S. investors have access to different assets due to regulations)
  5. Write down your recovery phrase. This is very important, don’t take this step lightly

And that’s it! Five quick steps and you are ready to start. 

And this Abra review would be incomplete without mentioning that Abra itself has a number of excellent video tutorials to guide you.

Abra: Background

Abra was founded in 2014 in a place where most innovative apps are born: Silicon Valley. 

The founder was none other than Bill Barhydt, who used to work for Goldman Sachs as a software engineer. He also happened to be the former director of Netscape.

In September 2015, Abra received $12 million in Series A funding from RRE Ventures and Arbor Ventures. 

But the real progress in innovation happened in March 2018, when Abra added support for 20 new cryptocurrencies such as Litecoin (LTC), Ethereum (ETC), Bitcoin Cash (BCH), and of course the king of crypto: Bitcoin (BTC).

Abra supported cryptocurrencies

Source: steemit.com/abra/

It was this move that inspired me to try Abra firsthand and put up this detailed Abra Review. 

That and reading the Wall Street Journal in June 2018 when Abra was listed as one of the "Top 25 Tech Companies to Watch in 2018".

Since then, Abra has even appeared on Apple Music’s “Planet of the Apps” show. 

Perhaps that’s because Abra not only launched crypto on their platform -- but also partnered with Simplex to allow customers the ability to buy bitcoin using Visa/MasterCard on Abra website and app.

All this helps Abra to become a platform allowing anyone to buy, sell, and trade cryptocurrencies -- and most importantly -- get into fractional investing. Maranda Marquit at U.S. News explains how fractional investing works:

Rather than buying an entire share, fractional investing relies on the idea that you can buy a portion of the stock. For example, if SPY costs $300, but you only have $150, you can use that money to buy half a share. You don't have to purchase the entire share at once.

This is the genius behind one of the fundamental properties of Bitcoin. It is divisible. 

We explain it fully in our ultimate 101 Blockchain guide. Put simply, you don’t need to spend $9,000 dollars (current price for 1 BTC) for one Bitcoin. 

You can buy $5 worth of bitcoin -- and Abra allows you to do just that.

Abra’s Missions

"Abra gives you the freedom to invest in multiple cryptocurrencies and fiat currencies. If you are a non-US user, you will also have the ability to invest in stocks and ETFs.

There you have it, straight from Abra. 

Financial freedom is what many of us are after -- The ability to do what we want with our hard-earned money. 

A second feature is Abra’s ability to make sure that you hold the keys to your funds. 

You have complete control over your money. Whether your Abra wallet holds fiat from your local country or your Bitcoin, Litecoin, Bitcoin Cash, or Ethereum -- you will have the keys to it. 

Granted, this comes with a great deal of responsibility. So take a moment away from this Abra review to learn how to keep your keys secure.

Fees and Costs

I’ve used various exchanges and mobile wallets in my day: Coinbase, Kraken, Binance, and more. 

At Cryptomaniaks, we’ve also reviewed quite a number of them. So how about Abra? 

In this Abra review, it’s essential to examine the fees and costs. To do so, have a look at this handy table chart directly from Abra.

What fees does Abra Charge

As you can see, the fees and costs are fairly standard. 

Abra’s spreads 

That said, it’s important to note that Abra makes money from widening the spread between crypto and fiat. They explain this as such:

We don’t currently charge fees on currency exchanges, but Abra does generate an exchange rate income on the spread between different currencies, which goes to cover some of our costs. For instance, if you convert US Dollars to Bitcoin, or Ethereum to Ripple, there will be a small spread built into the exchange rate that you will see on the app.

As far as I can tell, there's about a 1% exchange spread. When buying, it will be marked up around 1%, when selling, it will be marked down around 1%.

Credit card fees

Do watch out, though. The fee for buying crypto with your credit card is not light, as Simplex charges a 4% fee with a $10 minimum. 

The spot to watch out for here is that the $10 is the MINIMUM FREE, not your buying minimum. 

Indeed, the minimum you can buy is $50 worth of crypto. But instead of charging you $2 (which is 4% of $50), they will charge you $10. So the 4% fee is only for $250 or more of a purchase.


    I Tested Abra; This Is My Ultimate Abra Tutorial

    After signing up using the 5 steps I described earlier, I found a number of useful features. 

    This is the first thing you see when opening the app -- the prompt for your PIN.

    Abra log in

    I know it’s basic, and most Abra reviews would probably not mention it, but I did. Why? 

    It’s such a basic step that people often forget how important it is. I can’t count how many times I’ve set a PIN and then forgotten it. So make sure to take a moment and write your PIN down somewhere secure. 

    Then, there’s a  friendly prompt from the Abra wallet. “New feature: change the display currency!”

    Abra wallet

    I find this useful too because sometimes, I want to know the value of my portfolio in other major world fiat currencies, like the Euro. 

    Now I wanted to test out Abra’s deposit features. 

    This Abra review would not be complete without it since we all have a little crypto here and there. 

    I, for one, got an airdrop from Stellar Lumens. So I wanted to see how easy it  would be to deposit it and report about it in this Abra wallet review.

    Abra deposit

    Here are two things I realized:

    1. Abra has your back. They inform you that the address is only for Stellar Lumens, which is good for the user experience. This is a great reminder because if you’re transacting XLM but make the mistake of depositing in your XRP wallet, you’ll lose your funds.
    2. The second screenshot shows that you MUST include a memo when transfering your XLM. For people who are only used to transferring Bitcoin, note that some cryptocurrencies (like XLM and XRP) need a memo in certain cases.

    Abra deposit qr code

    And as you can see in these two additional screenshots, Abra makes triple certain that you are doing what you need to be doing for a successful transfer. 

    They even include a QR code, which scores points in this Abra review because it makes our (customers) life even easier.

    Abra successful transaction


    Now here’s another useful feature: price alerts. 

    I have this on my Coinbase wallet (another great crypto exchange). When I’m looking to do a bit of trading (trading every major price swing), then I set a price alert, and buy or sell accordingly.

    Abra price alerts

    The next feature I wanted to test out for this Abra review was exchanging my crypto. I decided to trade them for the king of crypto, Bitcoin. 

    So I went to the exchange and put in my XLM for BTC.

    Abra Network fee

    Another useful prompt. Network fees, or “mining fees” are always present in the crypto space. It’s how the network -- and our value -- are secured. 

    I do wish a little that Abra would let me choose the network fee (high, medium, or low). Fortunately, the cost is negligible most of the time, so it’s not a big con. 

    Keep in mind that Abra also expects a minimum exchange amount for crypto to crypto exchanges. It’s $5 -- which is not unreasonable.

    Abra minimum exchange amount

    I increased my XLM to $5 and was able to make the trade in a snap. Another plus for this Abra review.

    Now that we’ve seen how simple it is to transfer crypto with Abra, let’s look at actual fractional investing. After all, that’s something important to me in this Abra review.

    First, let’s take a look at linking your bank account. Fortunately, Abra made the process quite user-friendly.


    Abra fractional investing

    There’s my XLM, sitting safe. Now, I want to add my bank account and deposit $5 or more. 

    Look at the bottom of the screen, where it says “add money” -- tap it. You’ll be brought to the identity verification screen. 

    To verify your identity and prove you’re the owner of your bank account, Abra partnered with Coinify. 

    Coinify is a stalwart company established in 2014 for the express purpose of providing secure KYC and AML compliance for companies around the globe. 

    They have a reputation for keeping user data locked tight while providing smooth customer service to clients and businesses alike.

    Abra getting started

    Because I’m in Europe, Abra suggests that I buy with a SEPA transfer. If you’re in the U.S., then this will be a different suggestion for you. 

    Nevertheless, the process with Coinify ID verification should be the same.

    Abra security

    The steps are that simple. Just tap to continue and follow the instructions. I have no screenshots of this due to keeping my info private, but the process is a breeze. 

    They email a verification code to you. Put that in. Then you’ll snap a pic of your ID and a recent utility bill or other proof of address such as a bank or card statement. Wait a bit, and you’re done.

    After verifying your identity, add your bank account. To do that, go to the top-left dropdown “hamburger” icon, and select “Bank accounts.”

    Abra select bank

    Another short verification process. Then… done.

    After that, add the money. I chose to add $15. Not much at first, because I want to test it.

    Abbra add money

    I was quite pleasantly surprised. Took just a day to transfer it over.

    Zero fee and ready to begin my journey into fractional investing. 

    Another option, if you don’t want to go the bank route -- is to use a VISA or Mastercard.

    Abra buy bitcoin

    Simplex is another strong partner of Abra. They process credit card payments across the globe. The process is even simpler than adding a bank account. 

    But keep in mind that they charge 4% of your order with a minimum of $10. So you’d need to order $250 or more of bitcoin before the fee dropped to 4%.

    abra bitcoin order

    Now, to continue testing Abra, I’ve decided to withdraw some of my BTC to another BTC wallet. 

    Step one, go to your portfolio.

    abra app screenshot

    My BTC is sitting safely. Now, I want to transfer it out, so I go to withdraw (bottom right) and select Bitcoin. I’m now presented with this screen:

    abra withdraw bitcoin

    You can manually input the bitcoin address you want to send your BTC to (though I advise copying/pasting it and double-checking it, always), or you can simply scan the QR code. 

    I chose to scan the QR code of my new address. 

    You’ll be brought to the next screen, which is a confirmation screen. There you can check to see if all your details are correct.

    abra confirmation

    Once you’ve double-checked the details, click “Confirm withdrawal” and your BTC is on its way.

    bitcoin sent in abra

    Keep in mind the network fee and time it will take to transfer. Sending BTC costs a little bit and it takes a little bit of time. 

    Though thankfully, it’s not like Western Union or other money transfer services that cost $25+ and take 2-3 days or more. 

    Bitcoin sending costs anywhere from a few pennies to a dollar and generally takes anywhere from a minute to 15 minutes.

    If you want to remember your past transactions in the future, you can always go to the transaction details.

    abra transaction details

    You’ll also see how much the network fee was, and even check all this with a 3rd party blockchain explorer. In my case, the fee was 0.00000583 BTC -- which is roughly 0.05 cents. 

    There you have it. This Abra review shows how the actual process works, from registering your Abra account to using it. 

    And since I’m guiding through all the steps, let’s also take a look at how selling BTC looks on Abra. After all, once your BTC purchase rises in value -- you should think about taking profit and selling. 

    First, tap on “exchange” at the bottom of the screen. Then, select BTC. In this case, my BTC has gone up in value, so I’d like to cash out into a stable currency -- the US dollar. In the Abra app, you would select TUSD (True USD)

    Abra shows you the exchange rate. Select how much BTC you’d like to sell/exchange for TUSD, and click “Review.” 

    After you do that, Abra -- looking out for you -- will ask you if you’re certain.

    abra confirm exchange

    Everything looks good? So I hit confirm. A welcome “success” screen will appear.

    abra btc exchange success

    Now, a note I must mention in this Abra app review: 

    Sometimes, the order does not complete straight away. In my case, it did not. 

    So I had my prior balance of $15 TUSD available to spend -- while the $48.87 of TUSD I had just gained from my sale of BTC was still pending.

    abra balance information

    Not to worry, the confirmation arrived soon enough, and I had all my funds confirmed and read to buy or withdraw with.

    That about sums it up, ladies and gentlemen. A couple of features I couldn’t mention (but are nonetheless important) for this Abra app review:

    • Users outside the U.S. can also invest in stocks and ETFs. I registered as a U.S. user, so I couldn’t review that. But it promises to be another solid investment vehicle to help you diversify. 
    • Abra is more secure than most cryptocurrency exchanges because the Abra wallet is a non-custodial wallet. This means that Abra never has access to users’ funds or their recovery phrases.

    Overall I found the Abra experience to be easy, quick, and worth my time and effort. 

    It’s good to have such a solid wallet where I control my own keys -- as well as an exchange with reasonable fees and transfer times. 

    Abra earns my recommendation.

    Abra Review: Final Tips & Summary

    Compared to other alternatives out there, Abra is a solid choice as a fiat/crypto wallet and investment platform. 

    It will be a good complement to the wallets I already have installed. It will help me diversify and will make me feel secure about my investments. 

    Simply take good notes of my most important tips:  

    • Purchasing crypto with your credit card only if it’s over $250. But most importantly, always use your bank account to deposit when possible. 
    • Keep your recovery phrase and PIN written down and stored safely. These responsibilities come with the territory of financial freedom. 

    In the end, I must say, it’s good to see the cryptocurrency space growing with legitimate, consumer-focused services such as Abra. 

    I believe Abra will play a role in onboarding the masses coming in 2024. 

    Good on you for reading this article and educating yourself while the cryptocurrency sphere is still relatively young. 

    More Great Resources:

    Frequently Asked Questions

    Can beginners use Abra for investing?

    Yes, Abra is an ideal platform for beginners. Its user-friendly interface and educational resources make investing in cryptocurrencies, stocks, and ETFs accessible. The "copy trading" feature allows beginners to replicate successful strategies, learning from experts while growing their portfolio.

    How secure is Abra as a platform?

    Abra prioritizes security, using advanced encryption, multi-factor authentication, and cold storage. Regular security audits and anti-fraud measures ensure the platform's robust protection of user funds and information.

    What are the fees associated with using Abra?

    Abra charges nominal transaction fees for buying or selling cryptocurrencies. The platform maintains transparency, displaying all associated fees before confirming transactions. Periodic promotional campaigns may waive certain fees, enhancing the cost-effectiveness of investing with Abra.

    Is Abra available globally or limited to certain regions?

    Abra has a global presence, offering its innovative investment platform to users worldwide. Regardless of your location, Abra ensures accessibility to diverse investment options and cutting-edge features.

    How can I start investing with Abra in [current:year]?

    Starting with Abra in [current:year] is simple. Download the mobile app, then create an account. Then, proceed to link your bank account or credit card. Choose from a variety of investment options, including cryptocurrencies, stocks, and ETFs. Abra's intuitive interface and strong security measures make it an excellent platform for modern investors.

    How do I sign up for Abra exchange?

    Visit the official Abra website, click "Sign Up," and enter your personal details, including name and email. After registration, verify your identity with a government-issued ID and proof of address. Once verified, you can start using Abra to buy, sell, and trade cryptocurrencies.

    About CryptoManiaks
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    We are CryptoManiaks.  Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.

    Written by

    When Mileva invested in Bitcoin at the end of 2017, she never believed she’d end up becoming so focused on fintech. Still, cryptocurrencies have become her passion and she decided to take it up a notch. She navigates the realms of gambling, fintech, and the written word with ease and loves every minute of it. When she’s not working, she spends her time on CryptoPanic, planning her next move, cooking, baking, or working in her garden. She also plays Texas Hold 'em with a passion. 

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