Deposit Bitcoin - Difference between Legacy and SegWit?

Nanovest currently supports receiving BTC from a SegWit or Legacy network.

What is the difference between Bitcoin and Bitcoin (Segwit)?

Bitcoin network is the original BTC address while Bitcoin (SegWit) is the newer address format with lower fees.

  • Bitcoin: addresses start with a 1
  • Bitcoin (SegWit): addresses start with bc1

Why use SegWit?

Segwit transaction is more cheap and secure, although sometimes the network activity might high and the transaction will take longer to be processed

Another advantage of SegWit is that they are backwards compatible, meaning that you are able to send funds from a SegWit address to a Legacy address.

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