Great news for Bitcoin holders! D'CENT Wallet's latest firmware update (v1.9.2, released May 20th, 2020) now supports Bitcoin SegWit (bech32) accounts. This means you can enjoy several benefits, including:
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Lower Transaction Fees: SegWit addresses are designed to be more efficient, typically resulting in lower transaction fees compared to traditional (Legacy) Bitcoin addresses.
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Improved Security: SegWit addresses offer some security enhancements over Legacy addresses.
What is Bitcoin SegWit (bech32)?
SegWit (Segregated Witness) is a Bitcoin improvement proposal (BIP) that separates transaction witness data from the main block, leading to smaller transaction sizes and lower fees. Bech32 refers to the address format used for SegWit transactions, starting with "bc1" instead of the traditional "1" for Legacy addresses.
How to Use SegWit Addresses with D'CENT Wallet
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Update Your Firmware: To take advantage of SegWit, ensure your D'CENT Wallet firmware is updated to version 1.9.2 or later. Visit the D'CENT Wallet support page for instructions: https://dcentwallet.com/support/FirmwareUpdate
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Create a SegWit Account: Once updated, you can create a new SegWit account within your D'CENT Wallet app. The addresses generated for this account will start with "bc1," signifying SegWit compatibility.
Important Note:
While Legacy and SegWit addresses are technically compatible for sending and receiving Bitcoin, migrating your funds to a SegWit account is recommended to benefit from lower transaction fees.
Stay Updated with D'CENT Wallet!
D'CENT Wallet is committed to providing users with the latest features and security improvements. Stay tuned for more exciting updates!
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Disclaimer:
This blog is for educational purposes only. Information presented here, including projects or brands mentioned, is informative and not financial, legal, or tax advice. While we strive for accuracy, we cannot be held liable for any inaccuracies. Cryptocurrencies are inherently risky. Do your own thorough research and consider consulting a financial advisor for investment decisions aligned with your goals and risk tolerance. External links may be present and we are not responsible for their content or practices. Review their terms of service and privacy policies.
