You may have noticed two different addresses, Segwit and Legacy, when depositing Bitcoin (BTC), Bitcoin Cash (BCH), or Litecoin (LTC). Wondering what sets them apart? Let's break it down!
The names refer to the format of the crypto address you're using. Legacy is the original format, while Segwit is a newer format designed to reduce fees. It's crucial to ensure your exchange or wallet supports the format you're using when transferring crypto to another platform like Wayex
Let's do a recap.
Which address do I choose to send BTC, BCH or LTC into Wayex?
The correct address you will need to use depends on the type of address your exchange or wallet supports. If you aren't sure, please contact the exchange or wallet support team to find out before sending BTC, BCH or LTC into Wayex.
How Do We Tell Which Address Is Which?
| Segwit | Legacy |
Bitcoin (BTC) | Segwit start with bc1 | Legacy start with the number 1 |
Bitcoin Cash (BCH) | Segwit start with qq | Legacy start with the number 1 |
Litecoin (LTC) | Segwit start with ltc1 | Legacy start with L |
We hope you found this guide helpful!
If you have any questions, suggestions, or if you run into any issues, then feel free to contact us in the live-chat within the app or website! Our support team is available everyday 24/7.