Abra, the multicoin cryptocurrency wallet platform has launched a new feature that allows users to purchase Bitcoin using their credit/debit cards. The company announced the move in a blog post on Thursday (July 12, 2018). Abra CEO, Bill Barhydt believes that BTC can reach $50,000.
Seamless Bitcoin Purchase
With the newly launched feature, Abra users now have an additional method of buying BTC. Abra inked a partnership deal with Simplex to provide the service. Before the launch, only users in the United States could use their credit/debit cards to purchase Bitcoin on the platform, via American Express.
By introducing this new feature, the platform aims to simplify the BTC purchase process, ensuring a seamless user experience. According to the company using a VISA or MasterCard to buy Bitcoin offers numerous advantages over other purchase options. The benefits range from faster processing time to enhanced availability.
BTC purchase on Abra via credit/debit card has a minimum and maximum limit of $50 and $20,000 respectively. The coins purchased can be kept on the platform or transferred to another wallet service.
The credit/debit card purchase feature is available to Abra users in more than 75 countries around the world. The coins purchased can be available in less than half an hour depending on the blockchain traffic at the time.
Abra CEO Predicts Bitcoin Price to Reach $50,000
In a related development, Bill Barhydt recently predicted that Bitcoin would one day reach the $50,000 milestone. Barhydt, however, didn’t provide any timeline for when BTC would achieve this high. The Abra chief also downplayed the bull rally of late 2017 saying that crypto enthusiasts “got way ahead of themselves.”
Barhydt didn’t provide any analysis to back his prediction. Macroeconomist, Peter Tchir believes that most BTC price predictions are made with specific motives in mind on behalf of the analyst. Writing recently for Forbes, Tchir encouraged traders to disregard predictions that didn’t have any empirical analysis to back the proclamation.
Presently, Bitcoin is in the midst of a sustained bear dip that has seen prices plummet by more than 60 percent since the start of 2018. BTC permabulls will be hoping for another price surge that can catapult the top-ranked crypto to a new all-time high.
What do you think about the credit/debit card BTC purchase feature on the Abra platform? What are your thoughts concerning the Abra CEO’s BTC prediction of $50,000? Keep the conversation going in the comment section below.