In a nutshell, it is an improvement over the current bitcoin blockchain which reduces the size needed to store transactions in a block.
SegWit means Segregated Witness, where Segregated is to separate and Witness is the transaction signatures involved with a specific transaction. Legacy address is the original BTC address while SegWit is the newer address format with lower fees. What is the difference between SegWit and Legacy address? Please note that if you have imported an external wallet on DeFi Wallet with Legacy BTC/LTC addresses, unfortunately the legacy balances will not be displayed on the DeFi Wallet. SegWit (P2SH): addresses start with a 3 or M Native SegWit (bech32): addresses start with bc1 Nested SegWit (P2SH): addresses start with a 3 As for receiving BTC/LTC into your SegWit wallet, you may send BTC/LTC from your Legacy or SegWit address - as long as your current wallet supports sending to SegWit. To keep track of all transactions click on the HISTORY TAB and in there it will be listed all the transactions that we made either sent or DeFi Wallet currently supports sending BTC/LTC with SegWit address. You can also set your address to expire in a period of time but that’s totally not needed so I would HIGHLY advise selecting NEVER. To receive coins click on Receive tab and where it says Receiving address copy and paste the address to the person that wants to send you coins. Where it says Pay to copy-paste the address that you want to send coins to, where it says Description this field is totally optional, usually description box is used to keep track and things more organized when you send coins for example to your friend, mother, father, brother etc … And finally Amount: type the amount of coins you want to send and hit the SEND BUTTON.
Electrum wallet address how to#
We need to learn how to send/receive and keep track of transactions. Once we are done with backing up our private keys. Under FORMAT select JSON or CSV it doesn’t really matter, then click on the left side on FILE and choose whenever you want to save a backup copy of your private keys and click SAVE. You will notice that the wallet will create 26 addresses and each address has its own private key.
Electrum wallet address password#
Once it finished generating click on Wallet then select Private keys and from the drop down menu select Export and type the password to proceed with the process. Wait a couple of seconds while the wallet generates all the addresses. Please write a very long password that will contain upper case, numbers, symbols and characters then hit OK. If you are ready to move on, hit NEXT and confirm it again in the next window. Make sure you write on a piece of paper IN THE CORRECT ORDER or take a screenshot, print it and keep it somewhere safe! Please write down the wallet generation seed. Look for electrum-xvg.exe and open it up.įrom the installation wizard make sure you select Create new Wallet and Standard Wallet then hit Next
Electrum wallet address software#
Select the software that matches your operating device.Īfter it’s downloaded extract the wallet. In this guide we will show you how to setup Verge Electrum desktop wallet.
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