Transfering btc

[saidm]

Hi,

I need to ask expert here.
I have Ledger Nano and using their Ledger Live apps.
In my ledger live I have two btc accounts, native segwit ( starting with bc1..) and legacy (starting with 1..)

Can I transfer my btc in my ledger live from native segwit ( starting with bc1..) address to legacy address (starting with 1...) ?

[Charles-Tim]

You can transfer bitcoin from one of your addresses to another on your same wallet, be it legacy, nested segwit or native segwit. But, why using legacy addresses, it do charge higher fee for transactions while using nested segwit comes with low fee while native segwit addresses comes with much more lower fee.

[bitmover]

Can I transfer my btc in my ledger live from native segwit ( starting with bc1..) address to legacy address (starting with 1...) ?

Yes.

Just transfer from your desired account to your address starting with 1.

This is a bit odd, as it is better to keep your bitcoins in a native segwit address as they cost less fees to transfer from, as mentioned by Charles-Tim.

If you just want to consolidate your balance, I would suggest moving from legacy to segwit. The amount of money transferred does not impact fees.

As you are transferring to yourself, you can use a very low fee (like 5-10 satoshi per byte). If there is no problem in waiting 5-7 days.

[saidm]

Thanks all for the replies.
The reason I asked because I have one exchange only support btc deposit from legacy address (starting with 1..).
But I also have account at other exchange that support native segwit.
Like suggested above, maybe I move from legacy to segwit to keep the fee low.

[dkbit98]

The reason I asked because I have one exchange only support btc deposit from legacy address (starting with 1..).
But I also have account at other exchange that support native segwit.

Native segwit bc1 addresses are universal senders, that means you can send them to any other address formats.
If some exchange is not supporting bc1 address that means they can't generate this address type and use it for withdrawal, but same exchange can still receive anything sent from bc1 addresses.

For example in Bittrex exchange you can't have bc1 address and you can't even withdraw coins from Bittrex to bc1 address, but you can still send bitcoin from your bc1 wallet to Bittrex exchange.

[o_e_l_e_o]

The reason I asked because I have one exchange only support btc deposit from legacy address (starting with 1..).

They will accept deposit from any address, but they will not let you withdraw to a segwit address.

I would also suggest that whatever exchange this is, you stop using them. Segwit has been a standard part of bitcoin for 4 years now. Any exchange which has been unable to make such a basic improvement in 4 years is almost certainly also incredibly lax in other aspects of their business, including their wallet security and their website and account security.

Like suggested above, maybe I move from legacy to segwit to keep the fee low.

Note that moving coins between your accounts will still charge the usual transaction fee. If you are planning to consolidate inputs and make multiple transactions from your stash in the future, then moving over to segwit makes sense to keep your fees low going forward. However, if you are just planning to hold the coins for a period of time before sending them all back to an exchange or other service, then moving from legacy to segwit is an unnecessary transaction. Instead of paying for "Legacy -> Exchange", you would be paying for "Legacy -> Segwit -> Exchange".

[saidm]

Well noted and thanks all.

This give me much understanding on btc address.

[bob123]

You can always send from any address type to any other address type.
Network-wise there is no problem at all.

The reason I asked because I have one exchange only support btc deposit from legacy address (starting with 1..).
But I also have account at other exchange that support native segwit.

Are you sure that someone is not letting you deposit from address other than legacy ones?
This wouldn't make any sense at all. Usually some outdated services don't allow to withdraw to segwit (bech32: addresses starting with bc1..).
But this is purely because they didn't update their software in a pretty long time (which btw is a red flag). If they didn't implement such a simple change, what makes you sure they implement all the security updates? You should stop using that exchange/service.

[Coin-Keeper]

saidm,

You have received great advice here on this thread.  I resisted leaving legacy "1" addresses for a long time.  Being a long time participant of crypto I guess I had a "legacy mindset" since that is where I started out.  It is funny how we tend to just stay where we are comfortable, but by doing so I/we miss out on the better technology.