Barely a month after launching a crypto trading app for its global clients, Abra is back with lots of eye-opening information. The investment firm has been busy collecting reviews and responses to its Bitcoin-powered stock and ETF site. And the outcome so far is positive, highlighting a massive demand for timely and affordable investment solutions.
Exclusively Serves Traders Located Outside the US
The whole concept Abra employ for its non-US based clients is simple and super-effective. First, the firm opted for Bitcoin when trading stock and ETF trading. It then embarked on launching the app, ensuring it goes live in more than 150 countries.
Since rolling it out, the investment company has immensely eased the overall stock trading procedure. It has also decentralized how financial services could be accessed while bringing on board active users in more than 82 countries.
Interestingly, the app enables its users to invest in popular traditional stocks, including that of Tesla, Uber, Facebook, and Alibaba, besides going for ETFs such as gold SPDR. They do this conveniently and off their smartphones using Bitcoin.
Abra, excited by the findings, couldn’t remain silent about them. The firm’s Twitter outlet posted a series of tweets on how the app had faired on after a month’s use by traders from across the world. The tweets told the whole journey, from Abra launching Bitcoin-based stock and ETF investing for its non-US based traders.
1/ A few weeks ago, Abra launched stock and ETF investing for users (outside the US) using #bitcoin. Here are a few things we’ve learned about how the world invests…#defi #cryptocurrency #blockchain pic.twitter.com/3RJbRhSjYF
— Abra (@AbraGlobal) June 25, 2019
Everything aside, the whole service now highlights how Bitcoin can help bypass borders while allowing crypto traders to markets that are geographically impossible to reach. According to Abra, 43% of its client base said that BTC had eased the overall process of investing in financial markets. A further 35% said they now invest in all popular stocks without breaking a sweat.
Speaking to BitcoinMagazine, the platform’s founder and CEO, Bill Barhydt, was equally elated by the findings. He spoke of how they launched their wait-list in February, but had to wait till May before rolling out the app for their international clients. Yet, despite the app going live for such a short time had it reached about 14,000 equity wallets.
From the Statistics, Millennials love Tesla
— Abra (@AbraGlobal) June 25, 2019
According to the survey, the most sought after stock among investors using the app is Tesla. The Global Investor Insights further reported that the world is crazy over tech and immensely loves Tesla, as evidenced by the firm’s findings. Generally, the statistics revealed that any medium investment in Tesla was comparatively higher, unlike investing the same in a different platform.
The phenomenon, according to Barhydt, is because of the vast millennial investors. He added that the whole scenario was a testament to their vibrancy in investing in whatever they believed on. The project that Elon Musk is creating clearly endears many millennial's to Tesla’s stocks.
Five countries where Tesla is trending hot, according to the statistics are his birthplace; South Africa, Argentina, France, the Philippines, and Austria. Besides Tesla, top ranking stocks include e-commerce giants Amazon and Alibaba as well as tech behemoths Apple and Google.
Ultimately, the findings highlight what many probably see across the world; preference for tech stocks.