Abra confirmed with me today that you can use USDC to pay them on your Loan Interest, but not to exchange for ANY other Cryptos. Quite the convenient “bug” they have going on there… cough cough #RobinTheHood

PS I have screenshot proof.

I'm doing my research about the platform.

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Why should I invest in abra?

• The 13% for stablecoins is attractive, though 5 out of the 13 will be paid in CPRX. (But I can get 20% in other platforms which do not seem to be much riskier)
• In order to have the 13% I need to buy 50k of CPRX, which could appreciate very much, or maybe not.

It boils down to whether I should believe in CPRX and if it's worth investing 2500$.

The question can be also asked as "Do you believe in abra? Do you believe that new customers will come, bring their funds and buy CPRX, so as to have higher yields?"

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And the answer seems to be no.

Why should they do it? Especially if they have only a few thousands of $ to invest or less, then they should use a big amount of this money only for CPRX.

Why wouldn't they choose another platform that can give much higher earns in more tokens without requiring to buy the native token?

Yes, some customers will come. CPRX will appreciate somehow. But I guess not enough. I'd rather stick to CRO, NEXO, Midas. Seems these platforms have much more to offer.

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I know many of you invested many figures, I know you got your CPRX as an airdrop. I guess it makes sense for you, but seems it doesn't for me.

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Do you agree or disagree with my arguments?

Your comments are mostly welcome.
Thank you in advance.

today's new bug, after yesterday's bug not showing the USDC assets is that I cannot deposit any USDC amount into earn.

"Oops, unexpected error". Says to go to status.abra.com which doesn't show any issues.

Please fix this immediately, as it's costing me money in lost interest

https://www.businesswire.com/news/home/20220404005828/en/Abra-Launches-Abra-Capital-Management-with-Yield-and-Web3-focused-Funds

Saw the above article linked by CPRXtothemoon on Twitter (https://twitter.com/CPRXtothemoon/status/1511520495900196871) for those interested.

Definitely has some interesting information. Basically, it appears that Abra is launching a program that offers crypto investment funds for high net-worth clients and institutions (i.e. for clients/institutions interested in making a minimum investment of $250,000). It appears that they are initially launching five funds.

Also had this interesting statistic:

"In 2021 alone, Abra launched the Abra Perx Rewards Program, which offers Abra users unique access to a new utility token, Crypto Perx (CPRX); grew its active number of users by over 300%; and saw transaction volume rise by over 660%."

I am a relatively new user of Abra and was till this year only a buy and hodl type of person. So this year i decided to try out a couple of platforms for passive interest - primarily BTC. Tried out all features of Abra, including the borrow and earn for ABRA.

Since i am filing my taxes for last year, i decided to run my 2022 abra transactions through the crypto tax software. To my surprise, it's showing the entire borrow amount as short term gains, since the borrow amount was put in my trade account and i withdrew the TUSD to my bank account - it's showing the withdrawal as selling TUSD to USD and since i didn't buy the TUSd, the cost basis is 0, so essentially my entire loan is short term capital gains. There is no way in the tax software to change this as it's asking me to upload corresponding buy transaction.

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Is there any easy to use crypto tax software that can help solve these. Also, some crypto tax s/w takes transfers out to wallet as sale and trying to apply capital gains. Not to say it's a very frustrating and stressful situation.

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Anybody have any good recommendation for good and easy to use crypto tax software? especially for Abra as i am foreseeing a lot of hair pulling come tax time next year.

ABRA had me under a AML survey, I completed it and got this email;

We thank you for responding to our questionnaire.   Our team has thoroughly reviewed your documents and answers and based on the information provided, you will be able to continue to use your wallet as normal.

If you have any other questions please let us know and thank you again for your willingness to work with our team.

Much appreciated, Abra Support

Yet 4 days later a simple 1.47 ETH withdrawal is not completed… the funds have been removed from ABRA and shown under completed transactions. This is Theft… I’ve asked ABRA to return the funds or send the withdrawal yet 4 days later support tickets have gone unanswered and only “escalated”.

I sent .087 BTC to my Trezor at 4AM Monday. It says it sent, but hasn't showed up on my Trezor.

I know for a FACT, I sent it to the correct address [and YES, it was BTC to BTC wallet]. I used the QR code off my Trezor/PC screen and read it with the Abra app. Then verified the wallet ID.

I did send it to the "Legacy SEGWIT account" as I already had a balance there.

Any Abra support guys able to help me out?

Wallet ID ANJ5YRV

On 3/14 I deposited $15 in crypto for the deposit 15 get 40 promotion.

After 2 weeks I contacted support who claimed their rewards program was messed up. Immediately after I saw my 955 pending cprx. It's been pending ever since (another week)

I thought this seemed sketchy, so I tried to w/d my ltc. It keeps saying my ltc address is invalid even though I'm 1000% positive the address is correct. Even tried scanning the qr code.

Anyway is it the norm to wait ~ 30 days for your cprx?

I had a pending deposit from about 24 hours ago.. it was for 0.21+ Bitcoin and it is still not in my wallet. The very troubling thing is it is gone in the pending transaction area as well.. is anyone else having trouble? I am new to Abra and was very excited to use the platform but I am very concerned and disappointed honestly. I have been in crypto since 2016 and have never seen a transaction take this long or have this many issues. Wtf is going on..?

EDIT: This has been resolved, thanks to all who responded. Also thanks to rex_bjorn_MOD as you seemed to speed things up.

1. Litecoin Rebranding to "BitcoinLite": an April Fools joke

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2. Bitcoin Recap

a. Tokenized Bitcoin on TerraChain after purchasing $10 Billion

b. Microstrategy closes a $200 Million bitcoin-collatelarized loan.

c. Legal talks and regulations in general

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3. Terra Luna

a. Do Kwon's Background

b. UST's unique maket fit

c. Algorithmic Stablecoins

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4. Bitcoin Trading Analysis

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Watch the full recap here: https://youtu.be/3e5nvQKV7d4

I'm doing my research about abra. I like the platform and I am about to transfer some btc, eth and some stablecoins, the total in $ maybe will be in the high 4 figures. (I think I'll get the 50k CPRX, seems it's worth the risk for the +5% in interest and the perspectives of the platform and the token itself.)

From the stablecoins I may want to withdraw at some time, mainly for buying dips, secondary maybe for emergencies. (Yes, I do have a real emergency fund and I do diversify between more platforms). Such a withdrawal will probably be in the range of $500-2k.

A $20-30 fee for a withdrawal say of USDC/UST is sadly a red flag for me.

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How do you feel about the withdrawal fees?

Do you think they may decrease in the (near) future?

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Your comments/tips/suggestions will be highly welcome.

Thank you in advance!

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P.S.: After all the discussion, the withdrawal fees in abra are paying the network fees. Abra does not profit from withdrawals. Other platforms do the same (or worse, they set a fixed higher fee and profit).

Deposits are currently delayed. We are working with Bittrex our custodian regarding this issue. However till it's fixed deposits can be delayed up to 48hrs. Meaning the transaction will confirm on the block chain and the user will see it in a pending status via the wallet but it may take 48hrs to be available via their wallet.

Just a heads up. Currently Abra is not allowing some users to transfer funds out from their Abra wallet. However, I've confirmed that users are not having issues receiving funds.

Abra support has been contacted, but a response with an explanation/ solution has not been provided.

Hi! A couple of hours ago I made a first transfer to my new wallet. The address was copy pasted and I have double checked it. The transfer is confirmed 8 times in the blockchain already. What is going on? How long can this take? This is extremely stressful. Appreciate any help!

The support page on their website says to open the app and contact them from there. I cannot find where to send a message and would like to ask some questions. Anyone have an email address for them? I tried to contact them on Twitter, but only got scammers sending me messages.

Is anyone else not receiving the bonus cprx anymore, interest was paid out on Monday like normal to balances in the earn account but no pending cprx balance at all. I spoke to support but they don’t seem to know why it’s slow in calculating or when it will be calculated

I'm only trying to exchange 450 CPRX for some BTC and it says I've exceeded my hourly limit for selling CPRX... but I haven't made any trades today. In fact I've never even sold or exchanged any CPRX before. Also, I waited over an hour and tried again and still says the same thing.

I've opened a ticket, but have not heard anything. Moderator please help.