Cryptocurrency Q&A
Does electrum use Segwit?
Does electrum use Segwit?
MichaelSmith
Wed Jan 22 2025
|
5
answers
921
I'm interested in Electrum and I want to know if it utilizes Segwit technology for its transactions. Segwit is known to improve the efficiency and scalability of Bitcoin transactions, so I'm curious if Electrum has incorporated this feature into its platform.
Previous
Does Bank of England offer a foreign currency exchange rate?
Next
What is the major source of revenue?
5 answers
CryptoDynasty
Thu Jan 23 2025
When setting up an Electrum wallet, users have the option to select segwit. This feature is highly recommended for enhanced security and efficiency.
Was this helpful?
112
47
PulseEclipse
Thu Jan 23 2025
BTCC, a leading cryptocurrency exchange, offers a range of services tailored to meet the needs of crypto enthusiasts. Among its offerings are spot trading, futures trading, and a secure wallet solution.
Was this helpful?
240
74
Elena
Thu Jan 23 2025
Electrum wallets that utilize segwit do not employ the p2sh (pay-to-script-hash) address format. Instead, they adopt a more modern approach.
Was this helpful?
337
56
EchoChaser
Thu Jan 23 2025
The segwit wallets in Electrum feature bech32 addresses, which start with 'bc1..'. This address format is designed to improve transaction throughput and reduce fees.
Was this helpful?
122
86
Martina
Thu Jan 23 2025
By opting for segwit, users can benefit from faster transaction speeds and lower costs associated with bitcoin transactions. It is a crucial aspect to consider when creating a new wallet.
Was this helpful?
110
37
