Abra wallet now supports a new token BIT10, which tracks the movement of the index Bitwise 10.
The Bitwise index of 10 Large Cap Index Crypto was developed by company digital asset management Bitwise Asset Management. This basket contains 10 of the largest cryptocurrency in terms of market capitalization constituting 80% of the total capitalization of the cryptocurrency market. Now investors can purchase a token BIT10 in the application of Abra at the minimum rate of $5.
“Index investing is incredibly popular in the stock market, bonds, and cryptocurrency, because it provides investors with a well diversified portfolio and saves them from having to monitor the news and try to predict which assets will be most valuable. Until today, index investing was available to only institutional and accredited investors”, — said CEO of Bitwise hunter HORSLEY (Horsley Hunter).
The cost of each token BIT10 reflects the price of all 10 currencies included in the index. Tokens supported smart contracts with multipoles on the blockchain of bitcoin (BTC) or litecoin (LTC).
“After investing Abra and the user create a smart contract that binds the money invested (and cryptocurrency, and Fiat) equivalent in value to the number of tokens BIT10. Abra receives from Bitwise Asset Management information about the prices of cryptocurrencies in real-time, and the holder BIT10 can see how the market dynamics affects the value of his tokens,” — explained in the press release Abra.
Recall that in early September, Abra told about the beginning of the support cards of banks of the Single Euro payments area (SEPA). This allowed users to transfer funds to my wallet with Bank card, where they can be converted to any of the 28 cryptocurrencies. Later in the same month in Abra there was an option of input and withdrawal in Bitcoin Cash (BCH).
