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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Abra's loan


How to apply

To apply for any of Abra's services, you need to download the application. Then, on the main screen of the app, tap the "Sign Up" button. Fill in the form by providing your name, email, country, and phone number, and click the "Continue" button.

Abra will send the code to your phone number. Once you fill it in, choose the PIN number and remember it.

To apply for a loan with Abra, tap on the "Borrow" button at the bottom of your screen. After you click Apply, you will start an application process. Select the currency you want to borrow: USDCT, TUSDT, or PAXT, and the loan amount. Choose the loan term, the currency you will use as collateral and APR. Click Apply again and sign the contract with Abra. You will need to provide funds to the Abra wallet as collateral. Once you transfer them, your loan will be processed.

To open an interest account, click the "Earn" icon on the bottom and choose the crypto. Your application will be approved within a few minutes to a few hours. The company will notify you once you are able to make transfers.


Although Abra is an online platform, it Is not available in New York. However, you will only need to set up an account with the company and fund your digital wallet with either BTC or ETH cryptocurrencies. Abra doesn't check your credit score or employment. You borrow against the collateral in the form of crypto.

Application details

Most Abra customers won't need to provide the company with any documentation. Yet, sometimes Abra Borrow may ask for additional information. The package of papers varies depending on the customer. If there is an instance Abra needs extra information from you, it will notify you via app or email.

The personal information you should submit is:

  • A valid driver's license,

  • Government-issued ID, or

  • Passport.


How do I apply for an Abra interest account?

Once you decide on what you want to apply for: earn, borrow, or trade, tap on the "Earn" button on your screen. Choose the crypto to start the application. Provide the required information and wait for Abra to notify you of the results.

How do I apply for an Abra loan?

To apply for a loan with Abra, click on the "Borrow" button and then select "Apply". Choose the amount of the loan, the currency, loan term, and collateral. Confirm your choices and sign the contract. You will need to fund your collateral for the loan to proceed. 

How much can I borrow from Abra?

You can borrow from Abra up to $500,000 depending on how much collateral you can provide.

What is an Abra Collateral Call?

A collateral call is a notice from a company that, to maintain your chosen LTV, you need more collateral.

Calculate loan payments in Abra

Abra calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

10000 $
500000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with Abra

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Abra and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Abra’s reviews by September 2022
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