Address Type | Bitcointalksearch.org

nc50lc

legendary

Activity: 2394

Merit: 5531

Self-proclaimed Genius

Quote from: waldis on December 06, 2021, 01:26:00 PM

I appreciate the explanation. It sounds that P2SH-P2WPKH addresses would be better choice to use.
-snip-

Take note that Armory is currently only capable of exporting WIF private key in uncompressed format.
So if you ever need to export the addresses' keys, you'll have to encode the ECDSA key (HEX) into compressed WIF format for it to be compatible with other wallets.
Don't worry, it uses the compressed public key to generate the nested SegWit addresses so there wont be any issue when spending funds.

Anyways, it's the best option for now since Armory 0.96.5 can't generate "Native SegWit" and Taproot addresses.

hosseinimr93

legendary

Activity: 2380

Merit: 5178

Quote from: waldis on December 06, 2021, 01:26:00 PM

It sounds that P2SH-P2WPKH addresses would be better choice to use.

I think that's the best option in Armory.

As I already said in my previous post, I would prefer P2SH-P2WPKH addresses over legacy addresses, because I would be able to make cheaper transactions.
And I would prefer P2SH-P2WPKH addresses over P2SH-P2PK addresses, because it's not possible to spend from P2SH-P2PK addresses without Armory.

Quote from: waldis on December 06, 2021, 01:26:00 PM

What address type are you using, if I may ask?

Native segwit addresses.
If you use native segwit addresses, the transaction fee would be lower even compared to nested segwit addresses.

If you insist on using Armory for any reason, you can't use native segwit addresses and in my opinion P2SH-P2WPKH is the best option for you.

waldis

newbie

Activity: 11

Merit: 0

I appreciate the explanation. It sounds that P2SH-P2WPKH addresses would be better choice to use.

What address type are you using, if I may ask?

hosseinimr93

legendary

Activity: 2380

Merit: 5178

P2SH-P2PK addresses:
I don't recommend using P2SH-P2PK addresses. Because Armory uses it own algorithm for generating these addresses and you will always rely on Armory for spending from these addresses.
Please someone correct me, if there's any other wallet allowing users to spend from P2SH-P2PK addresses

P2SH-P2WPKH addresses:
I would prefer P2SH-P2WPKH addresses over legacy addresses. They are called nested segwit addresses and you will pay a lower transaction fee comparing to legacy addresses.
Unlike P2SH-P2PK addresses and like legacy addresses, these addresses can be exported from Armory and imported to many other wallets.

Note that there's another type of bitcoin address called native segwit. They are also called as bech 32 or p2wpkh addresses.
Using these addresses, you would pay a lower fee even compared to nested segwit addresses, but they are not supported by Armory.

waldis

newbie

Activity: 11

Merit: 0

Should I keep using the default legacy Armory address type, or switch to one of the other two options?

Topic: Address Type (Read 79 times)