Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitfinex

Bitfinex allows withdrawing bitcoins to SegWit addresses

  • 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 means that over half of all transactions are processed by this protocol.  In October the SegWit adoption peaked at 57.2%; however, by the time of writing, the figure has retreated to 52.94, according to Transactionfee data.

Separately, Bitfinex added new charting tolls for derivative instruments to provide the customers with insights and historical data on liquidation fund balance. funding rate, spread and open interest.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source .fxstreet

Advertisement

Copyright © 2020 Elevenews