The Abra team has taken our users feedback and added this new option within our main menu. This option allows users to set up a designated beneficiary in the event something happened (death or illness).
Please note, adding a designated beneficiary in app will only give that person access to the funds held in your interest account (green screen) and NOT your trading account (purple screen). Abra cannot give your beneficiary access to your trading account. If you would like to give someone other than yourself access to these funds they will need your 13-word recovery phrase. In estate planning, we suggest writing our 13-word phrase down in your will or writing it down and keeping it with your important documents.
How to set this up in app:
- Open your Abra app.
- Select your trading account (Purple Screen)
- Tap: the main menu in the upper left-hand corner.
- If you have not applied to Prime Trust you will see this screen.
- You must first apply and be approved by Prime Trust to add a beneficiary.
- If you have already been approved by Prime Trust you will see the screen to add a beneficiary.
- First page: Add their name, email, date of birth and your relationship to that person.
- Second page: Add their tax country, tax ID number, address and phone number.
- The last page will confirm you have added your beneficiary.
- At this time you can only add one, in the future you may be able to split the amount.