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Binance Supports SegWit Deposits for Bitcoin (BTC)
Binance
2020-12-24 05:07
Fellow Binancians,
Binance has launched Segregated Witness (SegWit) support for Bitcoin (BTC) deposits (withdrawals are already supported). By selecting the BTC (SegWit) network, users can transfer funds to a SegWit (bech32) address.
Please note SegWit should help reduce fees; however, if you incorrectly send incompatible assets to the address, your funds will not be recoverable and will result in permanent loss. For more details, please refer to the SegWit FAQ.
What is Segregated Witness (SegWit)
Segregated Witness (SegWit) is a protocol upgrade developed to solve scalability problems on the Bitcoin blockchain network. Through SegWit, witnesses (signatures) are separated from transaction data, resulting in an increase in the Bitcoin network’s transaction throughput.
To learn more about SegWit: SegWit Beginner’s Guide
Risk Warning: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any direct, indirect or consequential losses. Please make your investments with caution.
Thanks for your support!
Binance Team
2020/12/24
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