Coinbase Wallet, the user controlled crypto wallet, has just added Litecoin to its offering, alongside a handful of other digital assets already supported on Coinbase’s services. Coinbase ‘Wallet’ had originally been focused primarily around DAPPs and Tokens but the shift into the wider crypto space as described by the team is an important one and Litecoin will take position as a default option for all users.
Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet. Coinbase Wallet already supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for Litecoin is an important next step in that direction.
Support will be rolling out over the coming weeks on both IOS and Android devices and will provide the option to use both segwit and legacy type addresses. Private keys are encypted on an individuals device using ‘Secure Enclave Technology’ something Coinbase says brings ‘best in class security’ to its users whilst putting them in control of their assets
Coinbase Wallet works in a similar vein to twitter, each user can claim a unique @ handle and pay one another using this ID on Coinbase’s internal network. They can also make purchases of cryptocurrencies and store them on the device. Another welcome addition, mainly aimed at developers, is the ability for users to access the Litecoin testnet, an option that can be enabled under the apps advanced settings. Finally, support of the JSON payment protocol is also planned for a future release.