Crypto Bear Market Didn’t Affect Abra: What’s in the Future of the Market?

click here to see original post

Abra has long been a household name in the crypto industry, providing consumers worldwide with financial services and investment opportunities that are centered around Bitcoin (BTC) and other digital assets. NewsBTC sat down with Abra’s chief executive and founder, Bill Barhydt, last month to talk about the future of this industry, his firm, and enterprise blockchain applications.Bill Barhydt, for those unaware, has worked with the CIA, NASA, Goldman Sachs, and Netscape throughout his career. He believes that his expanse of prior stints have helped him come to the conclusion that cryptocurrencies are the future.How’s Abra Been Faring In Crypto Winter?NewsBTC: Charlie Lee argued that the downturn in the cryptocurrency market has allowed him and the Litecoin Foundation to build out their product and vision. But how has the so-called “crypto winter” affected Abra specifically?Bill Barhydt: Well, it hasn’t. People that are in crypto, are in crypto. Abra tends to deal with less of the trader, and more with the investor. The trader is someone who is doing lots of transactions each and every day or week. Abra users tend to come in and out over a few week timespan. So it’s a different type of user. If you compare Abra to a trading site (exchange), our user base tends to grow reasonably steady. [The exchanges’ user base] go up and down, up and down. Not to mention that half the trades, if not more, are bullshit. Look what’s on the crypto-to-crypto sites, and you can’t trust 85% of what’s happening. With Abra, every transaction is on-chain. You can’t spoof that because I’m paying mining fees. Our business model is very different. They’re getting pennies per trade, but we’re getting percentage points per trade on reasonably steady, growing volume figure.

Share !