Topic: Ledger Nano X - Withdrawal to from e.g. Nicehash Wallet - Enter valid BTC addres (Read 157 times)

Read your message again, you got the prefix wrong, buddy.

Nested segwit is p2wpkh nested into p2sh. Those addresses start with 3.. (just as any other P2SH address).
Native segwit (bech32 encoded) on the other hand is the 'real segwit'. Those addresses start with bc1...

Unfortunately nicehash didn't update the software in the last few years, so they don't accept addresses starting with bc1.. yet.
Their software checks the entered address and gives an error (e.g. 'not valid address'), because it doesn't know how to handle it.




The easiest for your would probably be to simply use a nested segwit (P2SH, starting with 3..) to withdraw funds from nicehash.
See bitmover's post on how to create a second 'account' in ledger live.

His software, ledger live, is calling those bech32 addresses native segwit, I am just using the same name as his software does.



Don't worry, you don't need to setup anything again. You can just generate a new address using segwit
Just create a new account in your ledger live software and choose Segwit


I found a detailed guide here
https://blog.cryptocoin.cc/2019/05/01/how-to-create-a-bitcoin-segwit-address-on-ledger-nano-s-lower-fees/

Which exchange does not support P2SH addresses? That has been out since 2013, you'd really have to be lagging on your technology if you don't allow your users to withdraw to P2SH addresses at this point.

What you're calling "native segwit" is bech32. I doubt it would have a bch prefix however.
Are you sure you aren't mixing things up with the cashaddress standard? Arguably, cashaddress borrows a few things from bech32, so it might be easy to mix up the two.

You should be able to add a new account in the Ledger Live. I don't remember the exact process and I can't check it right now, but the wallet should ask you what kind of account you want to set up. Select nested SegWit (addresses starting with 3). There is no need to reinitialise your device or use a different wallet. Once you create a new account, you don't have to transfer your funds from the old one. You can have two or more accounts at the same time.

Hi Royse777, Bitmover & Bob123,


Thanks for your answer guys


I'm not quite sure what to do...


Royse777:
Hi Royse,
Nested Segwit, is this what Ledger calls "Segwit"? So that the choise I have, "Native Segwit & "Segwit" actually is " Native Segwit" & "Nested Segwit" ?

"...Try using legacy address which starts with 1.."
A legacy address? I don't recall a option "Legacy" on the Ledger Nano X?!? Will you explain this to me

Bitmover:
Hey there,
"...Do not try native segwit (bch...) Because it may not work with those exchanges.."
This was exactly what I did. As it was the default option. I don't care if I have to pay a $ or two to transfer, I just want it to work. And those dollars, aren't they supporting our community somehow? So , having set the Ledger Nano X up, what would you do? Transfer the funds to another wallet and set it up again, this time as "Segwit" ??

Bob123:
Hello Bob,
"...Every service/exchanges supports nested segwit.."
Here's the message I've got from Nicehash trying to withdraw funds to my LEdger Nano X set up as Native Segwit.:

-----
Support Team
2019-09-04 15:31

Hello!

Did you try to make a withdrawal to the bech32 format BTC address? Currently, we do not support withdrawals to these addresses.
Please use an external BTC address that starts with no. 1 or no. 3
If there is anything else we can help you with, let us know.
Thank you for using our services.

Kind regards,
NiceHash Team

--

And my question:

you
2019-09-04 05:05

Trying to withdraw funds to a Ledger Nano X
ERROR: "....Enter valid BTC address..."
My hardware wallet aka ledger nano x HAS a valid address. Please explain what to do here?

KR
Dan


Thanks guys, thanks for helping

KR
Dan

Every service/exchanges supports nested segwit, because that's basically just P2SH.
You'll only see whether it is a multisig / nested segwit / etc. after funds has been spent from such an address.

P2SH got introduced in 2012. Any service etc. which doesn't support it yet, didn't change anything in the last 7 years and should be avoided at all costs.


I'd recommend to use nested segwit for such sites and services.
You'll still save on fees (roughly 26%) compared to legacy transactions.

Segwit addresses which starts with 3 are fully compatible with any old software, so it should work. Do not try native segwit (bch...) Because it may not work with those exchanges.

Just generate a new address that starts with 3 "segwit" or "compatible"

Some exchange/service still do not support segwit (both native segwit and nested segwit starting with bc1 and 3 respectively).

Try using legacy address which starts with 1

If the service does not accept segwit then you can  not force it to make it right.

Hi friends,


I've bought myself a Ledger Nano X (and a Nano S). I've setup the Nano X to hold Bitcoins and Ethereum. Transferring funds from my full node bitcoin core address went without issues, but trying to withdraw funds from Nicehash where I've got a few rigs running, it couldn't be done. I got the error message "Enter valid BTC address".
I'm thinking it may have to do with the type of account I chose setting it up. I had to choose between "Segwit" and Native Segwit". Not knowing what this was, not able to find info letting me know what to choose I chose the default setup "Native Segwit".
I read something about, it had to do with the time a transferral would take. And I must say I was a bit impressed with the 2-3 min. it took to transfer onto my Nano X. But is this where I'm doing something wrong? Or is it Nicehash that should be having this option of transferral as well?

Please help me here, I really don't know what to do. Well, yes, I can make an extra transferral of the BTC, but that not the way it should be right?

Kind Regards,
Dan