If you paste a Bitcoin address there, Electrum will send a normal transaction and spend your on-chain funds.
If you paste a lightning payment invoice there, Electrum will initialize a lightning payment.
It depends on what you've pasted; bitcoin addresses, on-chain payment invoice (eg. from payment processors) and lightning invoice (long string that should start with 'ln') are very very different from each other, you do not have to worry about losing funds.
And read Abdussamad's reply.
P.S.: it's "SegWit" not "WetSig" (sounds kinky)