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Bech32 address support to save on bitcoin fees

Updated: 28 June 2019

Olga Ostrovskaya

Olga Ostrovskaya

Data Analyst

Bech32 address support to save on bitcoin fees

Good news for our users, we now support Bech32 addresses for bitcoin withdrawals!

Bech32 is a native bitcoin address format for SegWit (Segregated Witness, a protocol upgrade activated in August 2017 to increase Bitcoin capacity).

SegWit transactions take less space inside a block, which allows more transactions per block and improves transaction confirmation times.

When you spend from Bech32 addresses, you can count on a 38% reduction of transaction fees (compared to spending from legacy non-SegWit addresses).

Surprisingly, as of June 28, 2019, less than 50% of bitcoin transactions use SegWit. Can you imagine the amount of unoptimized block space?

We invite you to specify a Bech32 address in your withdrawal settings and join us in saving on fees while improving Bitcoin throughput!

Please mind that most exchanges still do not provide their users with bech32/segwit addresses. More information on this page.

Olga Ostrovskaya

Data Analyst

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