A comprehensive list of software wallets, hardware wallets, web wallets, exchanges, Bitcoin ATM models, blockchain explorers, payment processors and other services with Bech32 address format support can be found here. The post This is How Bitcoin Spenders Will Benefit From BitMEX’s Bech32 Sending Support appeared first on Coingape. Bech32 is a new Bitcoin address format, which has been created specifically for use with SegWit technology. And according to Bitstamp, “We’ve always supported the development of new technologies that can help Bitcoin reach its full potential to store and transfer any amount of value anywhere in the world quickly and cheaply.”. I was going though the list of wallets for iOS on natur-holzbausteine.de. Doesn't look like there's any that support Bech32 addresses. I've been using Edge (not my main wallet) forever now and was curious about upgrading but that doesn't appear to be an option, at least currently.
Bitcoin bech32 supportBech32 adoption - Bitcoin Wiki
Fitting more transactions into each block also leads to lower fees for your users. Fees on SegWit transactions are generally 25 to 40 percent lower than non-SegWit ones.
Bech32 provides additional benefits. But, more importantly, supporting Bech32 addresses gives your users a better experience on your platform. Other than giving your users more options, supporting Bech32 also reduces the chance of errors when they send and receive bitcoins.
Because Bech32 addresses are entirely lower case, rather than mixed case, users have an easier time sharing them and typing them in. If a user does make an error when inputting an address, Bech32 addresses also enable you to identify which characters are likely incorrect, as shown in this demonstration. As an exchange, providing users with Bech32 bitcoin wallets helps you to differentiate your platform from the vast array of competitors. Most of the top bitcoin hardware wallets support Bech32 addresses.
Source: Bitcoin Wiki. Even becoming compatible with SegWit at the most basic level requires:. Contact us today to receive a demo and see how we can assist you in building out the best platform possible for your business. Share now if you like the article! Company reg. HRB Jump to: navigation , search. Examples Examples of the address format being used on mainnet are the TXIDs 4ef47f6ebd5d9fa2f7ecdce8da51ebbe9cc and a33f1db89e1fea7bbb07babafd1a8db. Navigation menu Personal tools Create account Log in.
Namespaces Page Discussion. Views Read View source View history. And on top of this, using the new format also reduces the risk of human error. In other words, there will be a lesser chance of anyone making a spelling mistake while typing in an address or just accidentally sending their cryptocurrency to the wrong destination address. Furthermore, Bech32 addresses also feature an automatic address format check, which helps to ensure that users are indeed sending their cryptocurrency to a valid address.
Still, Bitstamp suggests that all users make the switch to the new format, simply because it will help make transactions that much more efficient. With this, the exchange has automatically generated new addresses for all their existing customers. Article source. The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider.
Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility.