Pros of sending to a SegWit address:
-Significantly lower fees than legacy addresses
-Possibility of LN in the future
-Same chain as legacy (they're both BTC addresses)
Cons:
-There's no standard for signing messages with SegWit addresses, so legacy might be better for verification
-SegWit wallet implementations could potentially be buggy since they're relatively new and not implemented on some major services
Topic: Legacy or Segwit on Ledger Nano S - page 2. (Read 1748 times)
Yesterday I tried to use a Segwit address on Ledger Nano S, then tried to send some bitcoins from an exchange for testing, the site was telling me the address is not valid. Is there a possibility that some exchanges/web wallets don't support these types of addresses?
Yes, quite a few exchanges (and wallet provider) aren't supporting addresses starting with a 3 yet. Will probably still take some time until its 'fully' adopted or at least used.
@OP:
You can choose whatever address type you like. Legacy is the original bitcoin address format. Segwit was implemented through a soft fork a few months ago.
Segwit transactions are smaller in size, and therefore cheaper when spending from. You are free to choose which you want to use.
Yesterday I tried to use a Segwit address on Ledger Nano S, then tried to send some bitcoins from an exchange for testing, the site was telling me the address is not valid. Is there a possibility that some exchanges/web wallets don't support these types of addresses?
It's possible, but strange. Segwit addresses are just pay to script hash (P2SH) addresses and have been in Bitcoin since the beginning. The exchange could be doing the wrong thing and only letting addresses start with a 1, which is not how Bitcoin addresses work. 
Yesterday I tried to use a Segwit address on Ledger Nano S, then tried to send some bitcoins from an exchange for testing, the site was telling me the address is not valid. Is there a possibility that some exchanges/web wallets don't support these types of addresses?
If by SegWit addresses, you're referring to the ones that start with 3 then yes, nothing to worry about. I had my funds stored in SegWit addresses on Trezor and I did receive Bitcoin Gold fork so It should be the same thing for your Ledgerwallet.
Hello,
I am transferring over a small amount of BTC to my Ledger Nano S, however there is 2 options on the Ledger, Bitcoin Legacy OR Bitcoin Segwit.
Which one should I transfer funds to ??
Are both supported everywhere ? Are both just as safe ? If I choose Segwit, will I get future Forks ??
Thank you
I am transferring over a small amount of BTC to my Ledger Nano S, however there is 2 options on the Ledger, Bitcoin Legacy OR Bitcoin Segwit.
Which one should I transfer funds to ??
Are both supported everywhere ? Are both just as safe ? If I choose Segwit, will I get future Forks ??
Thank you
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