How to get a Taproot address? | Bitcointalksearch.org

Husna QA

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Quote from: Pmalek on November 09, 2024, 04:16:23 AM

Quote from: Husna QA on November 08, 2024, 12:14:08 PM

However, Electrum can still generate seed phrases (Electrum seed type, https://electrum.readthedocs.io/en/latest/seedphrase.html) using the console to create wallets with Legacy address types, https://bitcointalksearch.org/topic/m.57048278.

I see no benefits in creating a legacy wallet in 2024. It's good to know that you could in case you needed to. But even if you must send bitcoin to an old legacy address, the wallet you are sending from doesn't have to be legacy. And if you are using a service that only makes payments to legacy addresses, forcing you to use them, it might be time to look for an alternative. If they couldn't make time to add support for segwit, who knows what else they have overlooked that might affect you personally.

Above, I am not discussing the benefits of each type of Bitcoin address. Even though the Electrum GUI no longer provides an option to generate Legacy addresses by default, seed phrases from this address type can still be generated in the Electrum Console using their seed type.

As far as I know and from what I have practiced, as long as they are on the same blockchain network, Bitcoins with any address can still be sent to each other, even if they are of different types.

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Quote from: Pmalek on November 09, 2024, 04:16:23 AM

I see no benefits in creating a legacy wallet in 2024. It's good to know that you could in case you needed to. But even if you must send bitcoin to an old legacy address, the wallet you are sending from doesn't have to be legacy. And if you are using a service that only makes payments to legacy addresses, forcing you to use them, it might be time to look for an alternative. If they couldn't make time to add support for segwit, who knows what else they have overlooked that might affect you personally.

Legacy wallets in 2024 are likely from people who use centralized platforms like you said and people who have very old wallets that were created years ago but they didn't upgrade their wallets yet.

Most of centralized exchanges in latest years have more support on Segwit wallets for their users and there is another reason, with Segwit addresses and scripts, transaction fees are cheaper for users.

Taproot.
Bitcoin Taproot (Bech32m - bc1p) adoption.
Create Taproot address for your Bitcoin.

Pmalek

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Quote from: Husna QA on November 08, 2024, 12:14:08 PM

However, Electrum can still generate seed phrases (Electrum seed type, https://electrum.readthedocs.io/en/latest/seedphrase.html) using the console to create wallets with Legacy address types, https://bitcointalksearch.org/topic/m.57048278.

I see no benefits in creating a legacy wallet in 2024. It's good to know that you could in case you needed to. But even if you must send bitcoin to an old legacy address, the wallet you are sending from doesn't have to be legacy. And if you are using a service that only makes payments to legacy addresses, forcing you to use them, it might be time to look for an alternative. If they couldn't make time to add support for segwit, who knows what else they have overlooked that might affect you personally.

Husna QA

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Quote from: Thomasio on November 04, 2024, 11:10:16 AM

Elsewhere in this forum it says Electrum partially supports Taproot, but Electrum can only generate legacy addresses.
I like Electrum because it's light weight and easy to use, but where and how can I get a Taproot address that I can then import into Electrum?

Your question is similar to another user's in the following thread several months ago: https://bitcointalksearch.org/topic/--5494877.
Other similar questions can be seen at https://github.com/spesmilo/electrum/issues/7544.

Currently, Electrum does not fully support Taproot; in this case, it cannot be used to generate Taproot addresses.

Quote from: Z-tight on November 04, 2024, 12:05:44 PM

Quote from: Thomasio on November 04, 2024, 11:10:16 AM

Elsewhere in this forum it says Electrum partially supports Taproot, but Electrum can only generate legacy addresses.

Legacy addresses? No. Electrum no longer generates Legacy addresses by default, from version 4.1.0 Electrum generates only Segwit wallets with Bech32 addresses by default, which for obvious reasons is a better option of wallet to use, to save up on fees in your transaction.

However, Electrum can still generate seed phrases (Electrum seed type, https://electrum.readthedocs.io/en/latest/seedphrase.html) using the console to create wallets with Legacy address types, https://bitcointalksearch.org/topic/m.57048278.

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Quote from: Pmalek on November 06, 2024, 08:39:11 AM

If that is the case, you should update your Electrum software from the official website, verify the signatures, and create a new segwit wallet to take advantage of cheaper fees and smaller transactions with native negwit.

If OP want to use Electrum wallet, some guides for him to use Electrum wallet safely and minimize transaction fees. Taproot (address starts with bc1p) is not widely accepted by exchanges like Native Segwit (address starts with bc1q).

Check Taproot adoption https://en.bitcoin.it/wiki/Bech32_adoption

Pmalek

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Quote from: Z-tight on November 04, 2024, 12:05:44 PM

Legacy addresses? No. Electrum no longer generates Legacy addresses by default, from version 4.1.0 Electrum generates only Segwit wallets with Bech32 addresses by default, which for obvious reasons is a better option of wallet to use, to save up on fees in your transaction.

My guess is that OP has an old legacy wallet that he created in the past with Electrum. Now, every time he loads that wallet or requests bitcoin to be paid to it, the software only shows him other legacy addresses.

@Thomasio
If that is the case, you should update your Electrum software from the official website, verify the signatures, and create a new segwit wallet to take advantage of cheaper fees and smaller transactions with native negwit.

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Quote from: Mia Chloe on November 04, 2024, 01:15:47 PM

Yes you are right ELECTRUM actually doesn't generate legacy addresses by default. If during the process of setting up your wallet you create a standard Electrum wallet what you will get are segwit addressses both as your receiving addresses and your change addresses. And like you said , it's like that obviously for efficiency of transactions so as to make sure to save fees and also block space.

Anyways back then when I was still making use of Mycelium as my regular hot wallet, Mycelium actually creates HD wallets which I believe are BIP39 wallets . However you have the function to be able to alternate between any address you wish to make use of ranging from legacy address, to SegWit supported address and SEGWIT native addresses. I think importing a BIP39 seed to Electrum should do same. I've imported BIP39 seed to Electrum before though but I didn't take note if they displayed too . I'll try it out during my free time though.

Yes, Mycelium is a wallet that follows the established BIP39 standard.

While Mycelium allows you to switch between the address types and derivation paths: "BIP44, BIP49 and BIP84", the same doesn't happen with Electrum.

Electrum allows you to restore wallets in the aforementioned derivation paths and address types, but you cannot freely switch between them. To access the same wallet (seed) with a different derivation path, you must do the restoration process again and choose the desired address type: legacy, nested-segwit and native segwit, generating a new keystore.

The same goes for other wallets such as Sparrow, with the difference that Sparrow supports taproot for receiving in addition to sending.

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Quote from: Thomasio on November 04, 2024, 11:10:16 AM

-snip- but where and how can I get a Taproot address that I can then import into Electrum?

It's literally just the address, import each Taproot address without their respective private keys.

If you managed to create a Taproot wallet elsewhere and imported its addresses to Electrum,
all you can do with the watch-only imported Electrum wallet is to see transactions and create unsigned transactions.
The source wallet still has to sign it, so the ".psbt" export scheme should be compatible with Electrum.

Quote from: Thomasio on November 04, 2024, 11:10:16 AM

Elsewhere in this forum it says Electrum partially supports Taproot, but Electrum can only generate legacy addresses.

A link to the post would be great.

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In order to be able to use a Taproot address in Electrum or any other wallet, there has to be a specific code written to be able to create the sighash and signature each time you want to spend from that address. Electrum doesn't have that code yet.

The only things you can do is send to a Taproot address and use a hardware wallet that supports Taproot through your Electrum and spend coins from Taproot address that way.

Mia Chloe

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Quote from: Z-tight on November 04, 2024, 12:05:44 PM

Legacy addresses? No. Electrum no longer generates Legacy addresses by default, from version 4.1.0 Electrum generates only Segwit wallets with Bech32 addresses by default, which for obvious reasons is a better option of wallet to use, to save up on fees in your transaction.

Yes you are right ELECTRUM actually doesn't generate legacy addresses by default. If during the process of setting up your wallet you create a standard Electrum wallet what you will get are segwit addressses both as your receiving addresses and your change addresses. And like you said , it's like that obviously for efficiency of transactions so as to make sure to save fees and also block space.

Anyways back then when I was still making use of Mycelium as my regular hot wallet, Mycelium actually creates HD wallets which I believe are BIP39 wallets . However you have the function to be able to alternate between any address you wish to make use of ranging from legacy address, to SegWit supported address and SEGWIT native addresses. I think importing a BIP39 seed to Electrum should do same. I've imported BIP39 seed to Electrum before though but I didn't take note if they displayed too . I'll try it out during my free time though.

Z-tight

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Quote from: Thomasio on November 04, 2024, 11:10:16 AM

Elsewhere in this forum it says Electrum partially supports Taproot, but Electrum can only generate legacy addresses.

Legacy addresses? No. Electrum no longer generates Legacy addresses by default, from version 4.1.0 Electrum generates only Segwit wallets with Bech32 addresses by default, which for obvious reasons is a better option of wallet to use, to save up on fees in your transaction.

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Electrum is not supporting pay-to-taproot yet. It is partially supporting it because you can send to play-to-taproot address from electrum. You can also receive from pay-to-taproot address.

Wallets supporting pay-to-taproot: https://bitcointalksearch.org/topic/m.58443403

Thomasio

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Elsewhere in this forum it says Electrum partially supports Taproot, but Electrum can only generate legacy addresses.
I like Electrum because it's light weight and easy to use, but where and how can I get a Taproot address that I can then import into Electrum?

Topic: How to get a Taproot address? (Read 162 times)