Should I use SegWit or legacy BTC address?

Legacy addresses, being the earlier iteration, represent the traditional format employed by Bitcoin since its inception. While they continue to function effectively, they are gradually being surpassed by their more advanced counterpart.

On the other hand, SegWit (Segregated Witness) addresses represent a technological advancement aimed at enhancing the Bitcoin network's efficiency and capacity. By segregating transaction signatures from the main blockchain data, SegWit addresses pave the way for reduced transaction fees and improved scalability.

One of the primary benefits of SegWit addresses lies in their ability to lower transaction fees. By optimizing the data structure, these addresses enable transactions to be processed more efficiently, thereby reducing the cost associated with each transaction.

Bitcoin, the pioneering cryptocurrency, utilizes two distinct address types within its network: Legacy and SegWit. These addresses serve as unique identifiers for transactions, facilitating the seamless Flow of funds across the decentralized ledger.

Additionally, SegWit addresses contribute to the overall scalability of the Bitcoin network. As the network grows and transaction volumes increase, the need for efficient data processing becomes paramount. By improving the network's throughput, SegWit addresses help to ensure that Bitcoin remains a viable and scalable payment solution.