Coinbase has been the go-to trading platform for cryptocurrencies over the last couple of years. However, this ubiquity has made it a target of government legislation and other initiatives that have been dreamt up with the intention of slowing down or stopping the adoption of cryptocurrencies. Now, just in time to add to Coinbase’s woes, a new rival has arrived on the scene.
What does Abra bring to the party?
Abra has the slick website and user interface you’d expect from a modern, well-funded app. The service allows you to make trades between most major cryptocurrencies. At the moment, the list of over 20 available currencies includes Bitcoin, Ripple and Bitcoin Cash. Unlike Robin Hood, another cryptocurrency trading platform that recently emerged, Abra allows users to make withdrawals from the service without any fuss. This should give users some of the confidence required to start making use of the service.
Have we found the new Coinbase?
In many ways, it may be to Abra’s advantage to remain a relative niche player in the cryptocurrency trading world. Coinbase’s ubiquity has bought it a lot of unwanted attention from regulators and other major entities. At the moment, it’s relatively easy for Abra to fly under the radar.
A number of medium-sized players may be the best eventual outcome for the cryptocurrency trading market, as this will make it difficult for governments to concentrate all of their collective firepower on one entity. By entering the market now, Abra has a good chance of growing to a fair size at a time when there is less attention on the world of cryptocurrencies. By the time the next rally comes around, Abra may find that it is in the perfect position to ride it.
Source: https://www.youtube.com/watch?v=KKC6G9vvN9o – Great Video By The Modern Investor