Cryptocurrency Q&A
Does Binance use SegWit or legacy?
Does Binance use SegWit or legacy?
EnchantedSoul
Sun Dec 01 2024
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6 answers
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Binance, the world's largest cryptocurrency exchange, has announced support for SegWit, which is an upgrade to the Bitcoin protocol. SegWit addresses start with 'bc1' and offer reduced transaction fees and faster processing times compared to legacy addresses that start with '1'. This adoption by Binance enhances the efficiency and scalability of Bitcoin transactions on its platform.
6 answers
Riccardo
Tue Dec 03 2024
Binance exchange provides support for SegWit deposits and withdrawals for Bitcoin (BTC).
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Chloe_jackson_athlete
Tue Dec 03 2024
Users can learn more about SegWit and how it benefits Bitcoin transactions by referring to the Binance exchange's SegWit FAQ.
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Lorenzo
Tue Dec 03 2024
This feature allows users to enjoy faster transaction speeds and lower fees when moving their BTC funds.
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Riccardo
Tue Dec 03 2024
For those unfamiliar with SegWit, it stands for Segregated Witness, a technical upgrade to the Bitcoin network.
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Maria
Tue Dec 03 2024
SegWit helps in improving the efficiency and scalability of the Bitcoin blockchain.
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