Coinbase adds support for Litecoin

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evo

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Apr 2017
Last summer, Coinbase added support for Ethereum and now they've added full support for Litecoin. In a statement from Coinbase:
We are pleased to announce that we have added support to buy and sell Litecoin.
With full support for its third cryptocurrency, Coinbase has intentions to add other cryptocurrencies with the broader goal of becoming a “digital currency company.”

Ethereum, the second largest digital currency, was added because Coinbase saw Ethereum’s focus on smart contracts as a tangible improvement over Bitcoin, and not just another altcoin that doesn’t serve any real function.

The creator of Litecoin, Charlie Lee, has been Director of Engineering at Coinbase for the last 4 years. With Bitcoin facing an internal struggle on how to scale the currency for the future, Lee and the Litecoin community decided to solve this problem with Litecoin by implementing SegWit.

Lee also sees Bitcoin as a testing ground for future Bitcoin features. Lee's vision for Litecoin is to help alleviate Bitcoin transactional volume by taking over smaller, less important transactions. For example, you would use Litecoin to buy coffee with zero confirmation time or transaction fees. And if you're wiring $25,000 to your bank, you could use Bitcoin for increased security that comes from a bigger network of decentralized miners.
 
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