What is a Coinbase SegWit address and how does it work?

3 answers

• Jan 12, 2022 · 3 years ago
  A Coinbase SegWit address is a type of cryptocurrency address used by the Coinbase exchange that supports Segregated Witness (SegWit) technology. SegWit is a protocol upgrade for Bitcoin that increases the block size limit and improves transaction speed and efficiency. By using a SegWit address, Coinbase users can benefit from lower transaction fees and faster confirmation times. It works by segregating the transaction signature (witness) from the transaction data, allowing more transactions to fit in a single block. This optimization results in reduced fees and faster processing times.
  593297
• Jan 12, 2022 · 3 years ago
  So, a Coinbase SegWit address is basically a more efficient way to send and receive Bitcoin on the Coinbase platform. It helps to reduce transaction fees and speed up the confirmation process. It's like upgrading to a faster and cheaper version of Bitcoin transactions. If you're using Coinbase, it's definitely worth considering using a SegWit address to save on fees and enjoy faster transactions.
  399133
• Jan 12, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that Coinbase has implemented SegWit technology to improve the efficiency of Bitcoin transactions. By using a Coinbase SegWit address, you can enjoy the benefits of lower fees and faster confirmation times. It's a great feature that sets Coinbase apart from other exchanges. If you're looking for a reliable and user-friendly platform for your Bitcoin transactions, Coinbase is definitely a top choice.
  461116