Recently I set up an electrum wallet using legacy addresses, because I thought selecting segwit would make a bech32 wallet. Now I'm questioning my choice since a incoming transaction I sent to the legacy address costed me a 28.8 satoshis/byte transaction fee. How much will I save if I make a segwit (3xxxxxx etc.) wallet? I know native bech32 segwit has even lower fees but I heard not everyone can send to that kind of address yet so I'm hesitant to create one.
I might transfer my funds to a segwit wallet if it turns out that everybody can receive fro a segwit address.
I might transfer my funds to a segwit wallet if it turns out that everybody can receive fro a segwit address.
everybody can definitely receive from a segwit address. most wallets and exchanges can now send to bech32 addresses too.
according to blockstream's block explorer, these are the approximate savings you'll see compared to this typical legacy transaction:
Quote
This transaction could save 36% on fees by upgrading to native SegWit-Bech32 or 26% by upgrading to SegWit-P2SH
https://blockstream.info/tx/918863140131602815ab4199a836b697ff65aa94b818abe2d93b2588389dab33
https://blockstream.info/tx/918863140131602815ab4199a836b697ff65aa94b818abe2d93b2588389dab33
