All Electrum wallet adresses start with 3

HCP

legendary

Activity: 2086

Merit: 4361

Quote from: MCLXS411 on January 07, 2018, 06:00:05 AM

It says "2fa".
How come they aren't SegWit ?

Because Electrum "2FA" wallets do not use SegWit... they are simply a type of MultiSignature (aka "MultiSig") wallet... that utilises the services of TrustedCoin's Google Authenticator system to provide Two Factor Authentication security for your wallet.

Just because *some* "3"-type addresses are SegWit... does not mean ALL "3"-type addresses are SegWit addresses... It is impossible to tell what type of address a "3"-type address is, unless you know it's redeemscript.

Quote from: BitcoinHunterXHunter on January 07, 2018, 06:12:50 PM

What will happen to the Bitcoin I stored to my Electrum wallet can I withdraw it later if they already fix it or I have to withdraw it and shut down my Electrum wallet?

Already fix what? Are you asking about the "bug" that was recently discovered? If so, go start a thread of your own instead of hijacking a completely unrelated thread Roll Eyes

But to answer your question, the bug is an issue with the application... NOT the wallet file or format. If you upgrade to the latest version and have a wallet password set, your wallet is relatively safe.

pizzacraver44

newbie

Activity: 30

Merit: 0

Quote from: BitcoinHunterXHunter on January 07, 2018, 06:12:50 PM

What will happen to the Bitcoin I stored to my Electrum wallet can I withdraw it later if they already fix it or I have to withdraw it and shut down my Electrum wallet?

I have this issue as well. If anyone can answer it I would feel a lot more comfortable beginning the prices.

BitcoinHunterXHunter

jr. member

Activity: 378

Merit: 6

What will happen to the Bitcoin I stored to my Electrum wallet can I withdraw it later if they already fix it or I have to withdraw it and shut down my Electrum wallet?

Xynerise

sr. member

Activity: 322

Merit: 363

39twH4PSYgDSzU7sLnRoDfthR6gWYrrPoD

Quote from: MCLXS411 on January 07, 2018, 06:09:56 AM

And which one is better for longterm use ?

Native SegWit or PS2H ?

Native segwit is Bech32 (starts with bc1), and it's better because a standard transaction of 1 input and 2 outputs is 141vbytes, which is 38% less than "legacy" P2PKH transaction, so you save 38% on fees.
Unfortunately it's not common YET, so not many wallets can send funds to it.

MCLXS411

newbie

Activity: 19

Merit: 0

And which one is better for longterm use ?

Native SegWit or PS2H ?

MCLXS411

newbie

Activity: 19

Merit: 0

It says "2fa".

How come they aren't SegWit ?

HCP

legendary

Activity: 2086

Merit: 4361

Then it sounds like you've created a MultiSig... or a Two-Factor Authentication (2FA) wallet...

In the title bar, what does it say in [ ]'s after the wallet name? Does it say [2fa] or does it say something like [2of3]?

NOTE: Neither of these wallet types is "SegWit"

MCLXS411

newbie

Activity: 19

Merit: 0

I did not import private keys, it's completely new.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Yes, and no. You probably created it with importing private keys, yeah?

If you create a new Segwit wallet with Electrum 3.x, you'll get native Segwit addresses (Bech32)... these start with "bc1".

Your current addresses start with "3" so are nested P2SH addresses. Still Segwit, but not as efficient with data as native Segwit.

They're good enough for now though, even I haven't started using bech32 because it's not yet supported by the services I use.

MCLXS411

newbie

Activity: 19

Merit: 0

Did I properly create a SegWit wallet if all of my adresses start with "3" ?

Topic: All Electrum wallet adresses start with 3 (Read 189 times)