Thank you all for these two pages A4 on scale 77%
https://bitcointalk.org/index.php?action=printpage;topic=5473090.0
Topic: Withdraw to BTC Adresses started by 1 (Imperfect Information?) (Read 95 times)
November 07, 2023, 01:21:38 AM
Addresses that start with a 1 used to be considered the default address type so it wasn't necessary to mention if they are supported. Once Segwit became adopted those older addresses were considered legacy but I'm not aware of any exchange that doesn't support sending to them. There are still some businesses and old wallets which use legacy addresses. It would be foolish to inconvenience so many people relying on legacy address support.
November 06, 2023, 02:27:43 PM
Question:
Sites that can
send BTC to a addresses started by 3
can also always
send BTC to adresses started by 1?
Just like others have pointed out exchanges do support withdrawing to legacy addresses in short it is the first address you will see there, if they don’t support it will be stated out, which is rarely. The address format that you will find hard that they support is the new taproot address (bc1p). So they actually support it. But one thing is the transaction fee charged by them is higher than that of segwit addresses.
- BECH32 (started with bc1)
and
- SegWit (starts with numbeer 3)
and
- SegWit (starts with numbeer 3)
BECH32 (bc1q) is also a segwit address type it is called native segwit and the other one that starts with 3 is called nested segwit by some
November 06, 2023, 01:44:53 PM
I highly doubt there's an exchange that support withdrawal to bech32 addresses, but not legacy addresses.
If binance or any other exchanges say so, they are using wrong terms. We have segwit address, not segwit network.
when you send funds to P2PKH based address which starts with 1, it automatically selects it while you chose segwit network.
There is no such thing as segwit network. We have only one bitcoin network.If binance or any other exchanges say so, they are using wrong terms. We have segwit address, not segwit network.
but just to be more sure in order to avoid losing funds, reach out to the support of the exchange you are referring to or try out with a small amount that you don't care to lose.
As mentioned by OmegaStarScream above your post, in the unlikely event an exchange doesn't support withdrawal to legacy addresses, it should give you an error. legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
November 06, 2023, 12:24:15 PM
If it says that it supports all types of BTC addresses, then it should. Best way to know is to test it yourself read the FAQ for the similar question or ask the support system of that exchange since you are not willing to share the names of any.
Would not say that it is any "mis"-information unless you have tried.
Good luck and I hope you get your money quick and easily in your wallet.
Would not say that it is any "mis"-information unless you have tried.
Good luck and I hope you get your money quick and easily in your wallet.
November 06, 2023, 12:05:59 PM
Question:
Sites that can
send BTC to a addresses started by 3
can also always
send BTC to adresses started by 1?
Yes they can send BTC to address that starts with 1 because its the backward compatibility feature of the BTC blockchain. For more understanding, the address you are using started with 3 (segwit) is based on P2SH algorithm which is newer version of creating wallet address while the address starts with 1 (Legacy) is based on P2PKH algorithm that is older version. So, according to the backward compatibility of the BTC blockchain when you send funds to P2PKH based address which starts with 1, it automatically selects it while you chose segwit network.Sites that can
send BTC to a addresses started by 3
can also always
send BTC to adresses started by 1?
Just to clarify, Binance don't mention legacy address to withdraw funds but we can still withdraw funds on legacy address but just to be more sure in order to avoid losing funds, reach out to the support of the exchange you are referring to or try out with a small amount that you don't care to lose.
November 06, 2023, 11:25:53 AM
Yes, I would imagine that the site would also support sending funds to legacy addresses. Most exchanges I know would pick the network for you once you paste the address though, so you probably won't have to do anything anyway.
Besides, Not sure which exchange you're using but even assuming (even though it's unrealistic) that the exchange doesn't support a legacy addresses, you'll just get an error. It's not like they would take your funds and never send them to your address.
Besides, Not sure which exchange you're using but even assuming (even though it's unrealistic) that the exchange doesn't support a legacy addresses, you'll just get an error. It's not like they would take your funds and never send them to your address.
November 06, 2023, 11:24:22 AM
In "Withdrawal of BTC", an Exchange informs that it
"supports all BTC address types"
and details:
- BECH32 (started with bc1)
and
- SegWit (starts with numbeer 3)
without mention to
- Legit adresses (started by 1).
So, I do not know if that site really can send BTC to a adresses started by 1.
Question:
Sites that can
send BTC to a addresses started by 3
can also always
send BTC to adresses started by 1?
or
there is, eventually, misinformation in such a site (Exchange))
Thanks.
I do not mean to say names.
"supports all BTC address types"
and details:
- BECH32 (started with bc1)
and
- SegWit (starts with numbeer 3)
without mention to
- Legit adresses (started by 1).
So, I do not know if that site really can send BTC to a adresses started by 1.
Question:
Sites that can
send BTC to a addresses started by 3
can also always
send BTC to adresses started by 1?
or
there is, eventually, misinformation in such a site (Exchange))
Thanks.
I do not mean to say names.
Jump to: