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Abra Simplifies Cryptocurrency Investing With New Crypto Index Accessible To Everyone, Everywhere

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Bitwise 10 Crypto Index Token

SAN FRANCISCOOct. 3, 2018 /PR Newswire/ — Abra, the first and only all-in-one cryptocurrency wallet and exchange, today announced the ability for anyone, anywhere to invest in BIT10, a new token that tracks the professionally-managed Bitwise 10 Large-Cap Crypto Index through a partnership with San Francisco-based Bitwise Asset Management, the leading provider of cryptocurrency indexes.

The Bitwise 10 Crypto Index Token (BIT10), listed exclusively on Abra, gives investors a simple way to get exposure to a set of the 10 largest assets that currently make up 80% of the cryptocurrency market. This set is screened according to Bitwise’s rigorous and transparent index methodology, which ensures assets meet liquidity, security, and robustness requirements. Each month, the set of 10 coins is rebalanced by Bitwise, adding and removing coins to adjust to the constantly changing market.

Starting today, anyone around the world can invest in the new BIT10 token through the Abra app. There’s a low $5 minimum, no restrictions on when you can buy or sell, and no fees on transactions. The BIT10 gives retail investors a simple way to benefit from the diversification and rebalancing of index investing.

“We created the BIT10 token to allow greater access to cryptocurrency investing by making the experience simple and accessible,” said Bill Barhydt, Abra Founder and CEO. “Through partnerships like this one with Bitwise, Abra has created an unprecedented opportunity for the everyday person to start investing in crypto.”

“Index investing is extremely popular in stocks, bonds, and crypto because it gives investors diversified exposure without having to constantly monitor news and try to predict which assets will be most valuable,” said Bitwise CEO Hunter Horsley. “So far in the crypto space, index investing has only been available to institutions and accredited investors. We’re thrilled for that to be changing today with the BIT10 on Abra, which is available to anyone.”

How BIT10 Token Works

BIT10 is only accessible through the Abra app. The cost of each BIT10 token reflects the value of the 10 coins in the index. Like other cryptocurrencies, BIT10 can be purchased in fractional amounts, so investors can decide which amount works best for them and enjoy low minimum buy-ins ($5).

The price of each BIT10 token is based on a real-time price feed of the Bitwise 10 Large-Cap Crypto Index provided by Bitwise. The methodology of the index is publicly available to read and is actively maintained by Bitwise. The composition of the assets in the index, and subsequently the exposure of the BIT10, is rebalanced on a monthly basis in accordance with the methodology’s rules which include a variety of requirements related to liquidity, security, and trading volume. The composition of BIT10 will be published on Abra and will reflect the monthly rebalancing update of the index by Bitwise.

AbraUsing Abra’s successful stablecoin model on the backend,  BIT10 positions are held in multi-signature smart contracts on the Bitcoin or Litecoin blockchain. Once invested, Abra and the user are entering into a smart contract that effectively pegs the asset invested  (either fiat currency or cryptocurrency) to the same amount of BIT10 tokens. Abra will get a real-time price feed from Bitwise Asset Management (again according to their published methodology) and the BIT10 investor will see the market up or down reflected in the price of their BIT10 tokens.

This method of using smart contracts to peg asset values to one another is a proven technology that is what currently powers the backend of the Abra app. Now, instead of trading fiat currency for cryptocurrency or for other synthetic currencies, BIT10 investors can use the same technology to easily invest in larger portions of the crypto market, all through one crypto asset.

Another big advantage to Abra’s technology is that it is all based on a non-custodial wallet, which cuts out the need for third parties and gives the user more control.

How to Invest in BIT10

Getting started with Abra is easy. Simply download the app from the Google Play or Apple Store and set up an Abra wallet. From there, users can fund the wallet via bank transfer, credit card or other crypto assets to get started. Once funds have been added, start investing in BIT10 or any of Abra’s 28 supported cryptos.

Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Quidax Partners with Julswap to Launch BEP20 Token

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Quidax x Julswap

Cryptocurrency exchange Quidax on Monday, 10th May officially announced a partnership with JulSwap. JulSwap is one of the biggest decentralized exchanges (DEX) on the Binance Smart Chain Ecosystem.

They also revealed that the highly awaited QDX token will go live on JulSwap’s launchpad JulPad on May 17, 2021.

JulSwap will be involved in the listing, offering technical and personnel resources to the Quidax team during the token sale period.

According to Quidax, the choice to partner with JulSwap is because they are one of the most popular DeFi platforms, and our drive to bring the best of CeFi and DeFi makes Julswap a natural and perfect place.

A Major Milestone for Quidax

Quidax

Quidax recently revealed that the exchange was transitioning from an African focused towards a global strategy. The launch of QDX token is the first step towards Quidax repositioning as the global home of BEP tokens.

QDX token is the utility token of Quidax and will power future developments. Quidax customers will also be rewarded with QDX for taking part in activities. 

Speaking on the upcoming token launch, Quidax CEO Buchi Okoro expressed his delight. ‘’At the heart of our innovation, we are happy to announce the launch of QDX – our ecosystem token on JuldPad. It will be live on the 17th of May,’’ He also added that QDX will power the functions within the Quidax ecosystem. 

About JulSwap

JulSwap is a community-centric Decentralized Exchange that helps crypto projects raise liquidity by conducting IDOs, organizing Staking Pools, and conducting liquidity mining in a decentralized fashion through the innovative power of JULD tokens.

Website: https://info.julswap.com

Twitter: https://twitter.com/JulSwap

Telegram: https://t.me/justliquidity

About Quidax

Quidax aims to be the home of BEP20, giving anyone access to tokens on the Binance Smart Chain (BSC), as well as popular cryptocurrencies. Apart from instant exchange services, Quidax enables OTC trading and gives fintech companies the tools to offer cryptocurrency services to their customers through a dedicated API. Quidax was officially launched in 2018 and currently has over 400,000 customers in more than 70 countries.

Quidax Token: Quidax.com/QDX

QDX Token Community (Telegram): https://t.me/QDXToken

Facebook: https://facebook.com/QuidaxGlobal

Twitter: https://twitter.com/QuidaxGlobal

Instagram: https://www.instagram.com/quidaxglobal/

Quidax Global Community (Telegram):  https://t.me/QuidaxGlobal  

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Africa’s First Government-backed NFT Initiative, AFEN Partners with Quidax

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AFEN Partners with Quidax

Lagos, May 3, 2021 — Africa’s first government-backed NFT initiative, AFEN on Friday announced a partnership with cryptocurrency exchange, Quidax.

AFEN, which aims to be a leading hub for African Blockchain, stated the partnership is strategic and would enable it to list the $Afen token on Quidax the home of BEP20 tokens.

According to a spokesperson at AFEN the partnership with Quidax lends credence to what they have been working on for a long time.

QuidaxIn a statement from Quidax, they mentioned the huge prospects of the NFT platform, which they believe will revolutionise opportunities in Africa. Quidax also stated they will continue to back credible cryptocurrency projects which will result in real-world usage.

As a result of the partnership, customers of Quidax will be able to buy the $Afen token as soon as it is listed. The listing date for $afen on Quidax and trading pairs are yet to be announced. Although, $Afen can be bought and traded on Julswap. As well as on Bitmart from May 1st, 2021.

The growing interest in NFTs has enabled AFEN to gain traction, attracting the attention of both established companies and startups. The project, which is the first government-backed NFT project in Africa, aims at revolutionising opportunities in Africa through blockchain technology is focused on three sectors; art, real estate, and education.

AFEN will have the exclusive right to mint legacy African arts upon the launch of its NFT marketplace, adding value to Africa’s art. The $Afen token will be used for transactions on its NFT marketplace. AFEN is also expected to release a new roadmap that will include the development stages of its NFT platform as well as extensive tokenomics. More details about the $Afen token is available on the AFEN whitepaper and on the AFEN community on telegram

About AFEN

AFEN is a leading hub for African Blockchain with a focus on Decentralised Finance, Arts, Real Estate and Education on the Binance Smart Chain. AFEN has the objective of combining blockchain’s immutable data structure and the backing of government bodies to provide legitimacy to products.

About Quidax

Quidax is the home of BEP20 tokens that gives anyone access to tokens on the Binance Smart Chain (BSC) and popular cryptocurrencies. It also enables Fintech companies to offer cryptocurrency services to their customers. Quidax was officially launched in 2018 and currently has customers in over 70 countries.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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CryptoLocally Acquires Finance Bridge Trading Academy

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Finance Bridge Trading Academy

The world’s first truly decentralised P2P trading platform, CryptoLocally, has recently revealed its acquisition of Finance Bridge Academy, Africa’s fastest-growing online trading school. With this acquisition, CryptoLocally is looking to launch the CryptoLocally African Academy free online training courses specialised for users in Africa. Their main goal is to achieve financial inclusion by allowing their users to learn more about cryptocurrencies and crypto trading.

CryptoLocally is one of the leading P2P trading platforms in the industry. They support many of the popular cryptocurrencies in the market as well as many high-performance blockchains in the industry. In fact, they support over 50 coins. They are the first true decentralized P2P exchange powered by their native GIV tokens and the first to integrate DeFi functionality into their ecosystem with its Finance Wallet.

Finance Bridge Academy is a strategic trading and investment education company with over six years of experience trading in the financial markets. It has been providing paid trading courses for Africans, mostly in Nigeria and Ghana, educating them on how to get more out of trading this new asset class. Now integrated into CryptoLocally’s ecosystem, these paid online courses are available for free for all registered users on their P2P platform. 

The launch of the CryptoLocally African Academy highlights its continuous effort for cryptocurrency’s mass adoption and to promote free cryptocurrency literacy in Africa. This acquisition opens the door to more courses in the future for other African jurisdictions and other regions globally, especially in Asia. It is the first step to a larger international crypto academy.

CryptoLocally is starting its education program with a focus on Africa because traditional financial institutions have failed to provide financial services to the masses. Their antiquated and often unfair banking practices are designed to protect the interest of the privileged few.

“Africa is home to millions of tech-savvy youth who are very eager and receptive to technological innovations, especially for innovations that may give them the opportunity to achieve financial freedom and stability,” says Hugo Campanella, co-founder of CryptoLocally. “Needing and eager to learn, they are the perfect demographic to introduce this burgeoning asset class that will revolutionize financial services in the near future and step towards a more equitable financial system in the region.” Hugo Campanella added.

CryptoLocallyCryptoLocally’s acquisition is expected to bolster the impressive crypto flow involved in Africa. In the last five years, Nigeria traded $566 million worth of Bitcoin which is the second-largest volume in the world. Nigeria’s Bitcoin trade traffic increased at least 19% annually since 2017. As for Africa as a whole, the monthly crypto transfers to and from Africa under $10,000 increased by 55% the past year (Edward-Ekpu). This gives evidence that cryptocurrency is being increasingly relied on as a financial asset, and potentially, a store of value (DW).

Previously, CryptoLocally announced their first incubation project with GemsLab, a game studio based in Africa, Ghana. The game studio specializes in developing simple, exciting, and easy-to-learn blockchain-based games with the purpose of introducing crypto and blockchain to the masses via its games. 

CryptoLocally is strengthening its position in Africa which has been identified by many pundits and industry leaders as one of the regions that will benefit most from revolutionary technologies like crypto and blockchain. It also represents one of the highest potential growth for cryptocurrency usage in light of its ongoing digital revolution and less than Ideal traditional financial landscape.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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