Coinbase has dominated the crypto market for years. There was no easier way to get your fiat converted into crypto. Currently Coinbase carries the big 4, bitcoin, ethereum, litecoin, and bitcoin cash. They used to allow credit cards but the credit card companies now treat crypto purchases as a "cash advancement". But they still do allow ach and debit transfers. These transfers either cost a fee when buying crypto directly, or take up to a week for a near 0 fee to transfer to "Coinbase Pro". There are of course allegations that Coinbase is built on derivates and doesn't actually own as much crypto as they pretend. Now, I don't know whether those allegations are true or not, but Coinbase does not claim to be decntralized. So while I certainly like Coinbase (it receives a lot of undue hate) there are some possible negatives.
In comes the ABRA wallet, which like Coinbase, can be accessed on your phone. Actually, at this time only Coinbase uses both phone and the desktop. However, the Abra wallet allows ACH transfers much faster than Coinbase. It also doesn't charge USD fees when purchasing through their USD wallet; which is excellent. Basically Abra wallet allows you to purchase crypto for no fees at all. This is a huge advantage. It also carries the big four above and many more. Now, it doesn't allow for crypto withdrawals for every crypto they have (they promise more in the future). I believe it only allows bitcoin & litecoin deposits and withdrawals. Basically it has fewer "hot wallets" than Coinbase has. But it is certainly a competitor IMO.
I personally think that Abra is slightly better than Coinbase at this point in time. Zero fees are a big deal. Coinbase pro can basically do that, but it takes much longer than the Abra "wallet". They do claim to be more decentralized but I have no clue if that claim is true. So holding one of the currencies that you can't withdraw might be a risk.
My advice would be to buy through either of the above exchanges and quickly send it to a wallet where you hold your private key. I do think the Abra wallet and competition for Coinbase is a step in the right direction.
Go Litecoin!!
