Coinbase adds support for Litecoin

Coinbase has just rolled out full support for Litecoin, its third cryptocurrency.

Users will be able to buy, sell, send and store Litecoin from Coinbase’s website or mobile apps, using easy payment methods like a credit/debit card or PayPal.

While Coinbase was founded as a platform to transact only with Bitcoin, the company has since announced its intent to add other cryptocurrencies with the broader goal of becoming a “digital currency company”.

Four Years in the Making

Last summer Coinbase added support the Ethereum, which is now the second most popular digital currency with a market cap about one-thirds the size of Bitcoin’s market cap. At the time the reasoning was that Coinbase saw Ethereum’s focus on smart contracts as a tangible improvement over Bitcoin, and not just another alt-coin that doesn’t serve any real function.

So why Litecoin? Interestingly, Litecoin’s creator, Charlie Lee, has been Director of Engineering at Coinbase for nearly four years. And while there were always ongoing discussions about adding Litecoin to the platform, they didn’t really materialize until recently.

Lee explained that it’s been a slow few years for Litecoin. While the digital

Read more ... source: TheBitcoinNews

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