|
Title: What's the safest, quickest and easiest way to do this? Post by: CryptopreneurBrainboss on October 10, 2019, 12:31:27 PM Just discovered my local exchange can't send bitcoin to a segwit address (that sucks). I'm trying to transfer some bitcoins to my personal wallet but I'm stuck. I haven't bought bitcoin in a long time so wasn't aware of this and haven't used the popular exchanges for a while now therefore, I have no idea if they can be used to complete my transaction. So I'm just looking for the easiest way possible to complete my transaction without spending much fees, what's the easiest, quickest and fastest way possible to accomplish this and probably the cheapest way too 😁. Seems mixers are kinda costly in regards to fees but haven't used any before so I have no idea.
PS: Just alerted the customer service of my local exchange about this ugly experience and they might lose a customer if they don't keep uptodate with new industry. It sucks. Title: Re: What's the safest, quickest and easiest way to do this? Post by: gentlemand on October 10, 2019, 01:11:29 PM Just discovered my local exchange can't send bitcoin to a segwit address (that sucks). Is the platform saying the address is not recognised when you input it? Something automated preventing it is the only scenario where I can see this being an issue. There's certainly nothing stopping a full legacy system sending out to a segwit address. Why not just open another legacy wallet? Most wallets have this option. Title: Re: What's the safest, quickest and easiest way to do this? Post by: CryptopreneurBrainboss on October 10, 2019, 01:26:56 PM Is the platform saying the address is not recognised when you input it? Something automated preventing it is the only scenario where I can see this being an issue. Something like that, just input a random legacy address to test my suspicious and it gave me the go-ahead but when I input my segwit address it doesn't respond. Initially after inputting a bitcoin address the next button pumps up for you to input amount you intend sending to the address but that's not happening when I input my segwit address meaning the system doesn't recognize the address as a bitcoin address. Title: Re: What's the safest, quickest and easiest way to do this? Post by: elda34b on October 10, 2019, 01:33:08 PM Exchange it to other coins/tokens with the lowest withdrawal fees, use instant swap service to exchange that to Bitcoin and send it to your wallet.
I don't see any alternative even if they support SegWit, because their fees might be the same (I might be wrong, don't know your exchange details). In short, regardless of your address format, they'll still ask you for X amount of Bitcoin for every withdrawal. Title: Re: What's the safest, quickest and easiest way to do this? Post by: LeGaulois on October 10, 2019, 01:41:20 PM Because some services haven't adopted Segwit, crazy but these are situations that still happen even in 2019 :/ It's the shame for an exchange knowing they're one of the firsts directly in contact with users.
Segwit is used by about 50% only, there is still a lot to do... @elda34b He may lose money doing so. Fees + fees + fees.. Title: Re: What's the safest, quickest and easiest way to do this? Post by: Bitcoin_Arena on October 10, 2019, 02:30:33 PM Any third party exchanging or swapping service like coinswitch or coin mixing platforms will obviously be more costly in terms of fees and spread.
I think the only way is to transfer those bitcoins directly from that exchange. How about the SegWit compartible wallet (P2SH format)? Does it work when sending your BTC from the exchange? With some wallets like Mycelium, you can easily generate Segwit compatible wallets from your HD wallet. Title: Re: What's the safest, quickest and easiest way to do this? Post by: o_e_l_e_o on October 10, 2019, 02:53:15 PM Why are we talking about exchanging coins, withdrawing in different coins, or using swap services? All this is going to achieve is more and more fees.
Withdraw to a legacy address, and then send that to your Segwit address. Simple. Title: Re: What's the safest, quickest and easiest way to do this? Post by: mascherono on October 10, 2019, 03:01:23 PM Any third party exchanging or swapping service like coinswitch or coin mixing platforms will obviously be more costly in terms of fees and spread. I think the only way is to transfer those bitcoins directly from that exchange. How about the SegWit compartible wallet (P2SH format)? Does it work when sending your BTC from the exchange? With some wallets like Mycelium, you can easily generate Segwit compatible wallets from your HD wallet. I also agree with you here. Why don't try to use third party service? Yeah, there is a high cost to do that. But if you get something for free then? I recently visited and registered https://exchange.all-stocks.net/register. Easy to sign up. No need to pay anything for the first 3 months. May be this one suit you. Thank you! Title: Re: What's the safest, quickest and easiest way to do this? Post by: LoyceV on October 10, 2019, 03:34:17 PM Easiest solution: get a wallet that supports "Compatible" SegWit: the addresses starting with a 3.
If you're not in a hurry, read Fees are low, use this opportunity to Consolidate your small inputs! (https://bitcointalk.org/index.php?topic=2848987.0), and just use the lowest possible fee. It's going to cost you $0.02 to send it, and if it doesn't confirm soon, it'll most likely confirm in the weekend. Title: Re: What's the safest, quickest and easiest way to do this? Post by: CryptopreneurBrainboss on October 10, 2019, 07:07:18 PM Withdraw to a legacy address, and then send that to your Segwit address. Simple. Thanks, silly me. I didn't think about this earlier, I'm thinking of just creating a new wallet with my electrum mobile App, choose the legacy address option, use that to recieve the bitcoin from the local exchange then transfer to my segwit wallet. Haven't tried it before so I hope it would work right?. Title: Re: What's the safest, quickest and easiest way to do this? Post by: Saint-loup on October 10, 2019, 08:43:07 PM Electrum fully support SegWit, so it'll work. If you're not in hurry, just use 1 sat/byte fees for both transaction. If the transaction is from an exchange, how he could set the fees to 1sat/byte, I don't understand. Usually exchanges have fixed withdrawal fees and don't allow to change them.If you're in hurry, but still want to reduce spend Bitcoin on fees, you could use 1 sat/byte for first transaction (Exchange to Electrum Legacy) and perform CPFP/2nd transaction with high fees. Thanks, silly me. I didn't think about this earlier, I'm thinking of just creating a new wallet with my electrum mobile App, choose the legacy address option, use that to recieve the bitcoin from the local exchange then transfer to my segwit wallet. Haven't tried it before so I hope it would work right?. Yes it's ok.Title: Re: What's the safest, quickest and easiest way to do this? Post by: judeafante on October 10, 2019, 11:50:43 PM Just discovered my local exchange can't send bitcoin to a segwit address (that sucks). I'm trying to transfer some bitcoins to my personal wallet but I'm stuck. I haven't bought bitcoin in a long time so wasn't aware of this and haven't used the popular exchanges for a while now therefore, I have no idea if they can be used to complete my transaction. So I'm just looking for the easiest way possible to complete my transaction without spending much fees, what's the easiest, quickest and fastest way possible to accomplish this and probably the cheapest way too 😁. Seems mixers are kinda costly in regards to fees but haven't used any before so I have no idea. PS: Just alerted the customer service of my local exchange about this ugly experience and they might lose a customer if they don't keep uptodate with new industry. It sucks. You have done the right thing, if there is a way for a faster and minimal fee then this exchanges and company should go for it, this is what keeps out people to buy stuff online slow transactions and very high fees and segwit address is one of the answer, I also encounter that in one of my local exchange I have to settle for other coins in their platform because I cannot consider using a very high fee, for that transaction. Title: Re: What's the safest, quickest and easiest way to do this? Post by: CryptopreneurBrainboss on October 11, 2019, 04:51:26 AM Ok now this thread is getting irrelative cryptotalk spam. Thanks guys for the assist, I'll used your recommendation for the second transaction (from my legacy address to my segwit address) the first transaction involving the exchange, I don't have a say regarding the miners fees. Locking thread.
|