The 20-year-old made his debut ahead of schedule as a substitute in the weekend's 4-0 defeat at Tottenham after injury to Daniel Agger.
Coates is now set for his first start in Wednesday's Carling Cup tie at Brighton less than a month after arriving from Nacional in his homeland for a fee believed to be in the region of £7million.
But the 6ft 6in centre-back, named young player of the tournament in his country's Copa America triumph this summer, is relishing the test of moving to, and playing in, a different country.
"The biggest attraction was the challenge: to come to an unfamiliar place - a huge club - and make a name for myself," he told LFC magazine.
"So far in my career, I have been very lucky; to play for Nacional, to play in the Copa Libertadores, to win the Copa America.
"There has been a lot of success in a short period of time but I have achieved that in a place where I am most comfortable.
"Now, I am here, in a different country, in a different league, with different team-mates.
"The best players are successful wherever they go. I am determined to become an important player here at a historical stage of the club's future."