SEND/RECEIVE FUNDS

As a totally digital money, bitcoin is borderless. Because it's available basically all over, you can transfer cash around the world just as smoothly as you send it across the room.

Basically all people need to be able to send and receive money internationally is a smart device and each party to the transaction needs to have a bitcoin wallet. Sending out funds is pretty much instant-- it can take between 10 minutes or up to a couple of hours for the transaction to be processed on the Bitcoin blockchain and then available on the other side of the transactions. Even with a small lag, this is still way faster than trying to do a challenging international bank transfer or for using an international wire service such as Western Union.

ABRA

Abra is a bitcoin-based digital wallet app that lives on your mobile phone. It is the most convenient way to buy, sell, store, send and receive bitcoin from anywhere in the world. It's similar to a brokerage, but it's also a wallet. Abra supports bitcoin as well as over 50 global currencies which means you can convert in and out of bitcoin or any available currency, effectively. You can also give bitcoin to anyone who has a bitcoin or an Abra wallet and accept bitcoin or money.

Aside from being easy to use, fast, and flexible, one of the advantages of Abra is that the company uses peer-to-peer technology, so your cash goes directly from you to your recipient with no middleman, allowing for your transactions to be very quick and economical.

Abra is a non-custodial wallet, so safeguarding your recovery phrase is important.Abra is based on non-custodial technology, which means that it is based on decentralized principles and offers greater individual security than more typical, centralized exchanges. Instead of being put in storage in a central data structure or account, all assets held by Abra users are saved in a Bitcoin wallet and accounted for on the Bitcoin blockchain.

Whenever an Abra user opens a new wallet a random recovery phrase is developed that acts as the private key discussed earlier. The recovery phrase is a crucial part to the defense and functions of Abra's non-custodial wallet model and while Abra users need to take an added step to safeguard the recovery phrase, it also means that Abra users can maintain control of their funds in a way that is more secure and not reliant on centralized entities.

Once Abra users have their sheltered wallet developed (and they have tested their recovery phrase) they can then use the Abra application to send, receive, and store bitcoin and other digital assets.

Abra users can also use the application to buy bitcoin, or convert other assets into bitcoin with Abra and then transfer that bitcoin to any external bitcoin wallet, or they can use the Abra application to send bitcoin to any other Abra user.