RATE Group | Bitfinex allows withdrawing bitcoins to SegWit addresses
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Bitfinex allows withdrawing bitcoins to SegWit addresses

30 Oct Bitfinex allows withdrawing bitcoins to SegWit addresses

Posted at 08:08h in Bitcoin News by

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  • The cryptocurrency exchange now supports bech32 addresses.
  • The platform also added new charting tools for derivative trading.

Cryptocurrency exchange Bitfinex added support for bitcoin withdrawals to bech32 addresses. This is a native Segwit address format that consists only of lowercase letters and offers greater protection against typing errors as it is not case-sensitive.

“Bitfinex has been supporting Bitcoin withdrawals on Pay To Script Hash (P2SH) wrapped addresses. This address format starts with the number 3. As bech32 addresses only exist on the Bitcoin network, our new support for Bitcoin withdrawals to bech32 addresses removes the possibility of our clients experiencing any cross-chain mix-ups,” the company explained.

This format is also supported by Gemini and Kraken, while in October, the head of Binance Changpeng Zhao also hinted on the possibility of SegWit support.

Notably, in September 2019, SegWit support surpassed 50% threshold, which…

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