On Friday (February 22nd), Coinbase announced Litecoin (LTC) support for “Coinbase Wallet”, its highly popular “user-controlled cryptocurrency wallet” app for iOS and Android.
Here is how Coinbase explains the difference between Coinbase Consumer and Coinbase Wallet. Coinbase.com (“Coinbase Consumer”) is “a digital currency brokerage.” It “can also act as a custodian, storing your digital currency for you after you purchase it.” In contrast, Coinbase Wallet is “a user-custodied digital currency wallet and DApp browser,” which means that “with Wallet, the private keys (that represent ownership of the cryptocurrency)
are stored directly on your device and not with a centralized exchange like Coinbase Consumer.” A Coinbase Consumer account is not needed if you want to use Coinbase Wallet, and you can download it from anywhere.
Coinbase Wallet is a mobile app that initially only supported Ethereum (ETH) and Ethereum tokens (ERC20 and ERC721). On 26 November 2018, support for Ethereum Classic (ETC) was added. On February 5th, support was Bitcoin (BTC) was announced. Around two weeks later, Coinbase added supportfor Bitcoin Cash (BCH). And starting on Friday, it introduced support for storing, sending, and receiving Litecoin (LTC).