Abra launches trading platform using Litecoin for smart contracts.

Abra is the latest app to offer trading of cryptocurrencies on a mobile platform. It is unique in that it offers a different take on trading, more akin to ETF's than actually buying and selling various cryptocurrencies.

Instead of directly purchasing a given cryptocurrency, traders buy an ETF using smart contracts running on the Litecoin network. The trader can choose to hold assets in a broad range of cryptocurrencies (about 20) by investing Bitcoin or US fiat. After depositing the fiat or Bitcoin, the user simply chooses the currencies to add to his portfolio. To "cash out" the user sells back into Bitcoin or fiat.

The advantage of this method of trading is that it allows for very fast trades with no transaction cost. By using the Litecoin network, a smart contract system moves all trades securely and efficiently. Traders have access to a large portfolio directly through the mobile app, which also offers non-custodial wallets, meaning your private keys are retained and not held by the exchange platform.

Check out Abra for more information.

source:

https://www.abra.com/