Bitcoin addresses and transaction fees - Bitcoin - CryptoTalk.Org Jump to content
BitcryptoHan

Bitcoin addresses and transaction fees

Recommended Posts

I will not dive much into explaining the bitcoin transaction fee, I have made a topic about that recently. You can use the link below to check that:

 

https://cryptotalk.org/topic/111482-how-to-calculate-bitcoin-transaction-fee/

 

But today, I want to differentiate between the bitcoin address types. There are three types of bitcoin addresses:

 

1.  Legacy 

These address start with 1. See example below, they are the old form of bitcoin address. And they are referred to as P2PKH

1LB8PpVae34m4vCaKkBDkioE948VNbKRfW

 

2. Nested segwit

These are addresses that started with 3. See example below. On many wallets like Coinomi, they are referred to as compatible addressed. That are P2SH addresses. 

3LrsEmgWnDydgWzP8rLyiozrWn37tQrxQz

 

3. Native segwit

These are the real segwit addresses,they are called sigwit address because of its segregated witness that led to the creation of such addresses in 2017 which was supported by bitcoin community. See example below. They stated with bc1 and are called bech32 addresses. 

bc1qnmyjf3reqz38q0wwaqqn5pvzmv9c0sq85zgf4q

 

The point

Normally, transacrion fee is in satoshi per byte for legacy and nested segwit addresses because the transaction is calculated using the transaction size. Unlike native segwit, the transaction fee is more reduced than while using other addresses for transaction. But this only apply to while sending bitcoin from native segwit addresses to another native segwit addresses. The transaction is not also calculated in size but in weight and calculated in satoshi per vbyte. 

Edited by BitcryptoHan
  • +1 2
  • +2 2
  • +4 2
  • +5 5

Share this post


Link to post
Share on other sites

Very nice explanation. Actually I heard the names of the different type of wallet. But I was not knowing the difference between this. Well I don't like the transaction fee. I think the coin is wasted while transferring coin from wallet to another. But after this I will take the segwit wallet and suggest my friends too, in order to reduce the transaction fee.

  • +1 1

Share this post


Link to post
Share on other sites

You deserve to thank  you my friend @BitcryptoHan for this good explanation of Bitcoin addresses as there are many members who do not know such important information about Bitcoin and I am one of them.

Previously I used to use a Coinomi wallet and already had 3 bitcoin addresses

  • +2 1

Share this post


Link to post
Share on other sites

The transactions fees depends upon the size of the transaction unit and I didn't know about the different wallet but from your explanation I am clear about the address. This information is very helpful. Most of the wallet I have used is Nested segwit.


 

                                                    BetFury                                                   

    🐥Twitter | 📩Telegram | 🎲 You play - We pay 🎲 | YouTube 🍿| Reddit  🕹

                                                  Free BTC 1 800 Satoshi every day                                                 


 

Share this post


Link to post
Share on other sites

This is informative post. Thanks for sharing this useful information. I also didn't know about difference. I saw all three type of address but i don't know about their difference. I appreciate your work. 

Share this post


Link to post
Share on other sites

Good explaining for beginners because I had transferred lot orders bitcoins fees was highly and not good for me so I usually use ethereum or litecoin 

Share this post


Link to post
Share on other sites
On 9/22/2020 at 8:03 PM, eliottalderosn said:

first time I know that there are types for bitcoin, can you tell us more about it? (fees aside)

another question is that does the fee differ from type to type?

@eliottalderosn there are types of bitcoin addresses as @BitcryptoHan inputted the three in his/her write up. But not types of bitcoin, bitcoin is bitcoin. On segwit, the transactions fee are a little more lower than while using the other two. This only applies to when you are sending from segwit addresses to segwit addresses. 

  • +2 1

Share this post


Link to post
Share on other sites

Wow.You have mentioned all the details about bitcoin addresses. Thank you for doing that and everyone even me can learn through that post quite easily. The bitcoin is a high valued coin and the withdrawal fees of this currency  is also high but soon i think that the coin will have a good impact and the withdrawal fees will be less than now. 

Share this post


Link to post
Share on other sites

I would like to know a little more about the subject, since when we start to make more transactions with BTC, we must know the fee for each transaction and we end up making mistakes that pay very expensive. I would like you to send us more information about it.

Share this post


Link to post
Share on other sites

really useful information for all members, especially beginners, I was not aware of the existence of three different types of Bitcoin transaction addresses, but for me I prefer dealing with LITECOIN as its fees are lower and its transactions are faster than Bitcoin.

Share this post


Link to post
Share on other sites
On 9/22/2020 at 5:24 AM, BitcryptoHan said:

I will not dive much into explaining the bitcoin transaction fee, I have made a topic about that recently. You can use the link below to check that:

 

https://cryptotalk.org/topic/111482-how-to-calculate-bitcoin-transaction-fee/

 

But today, I want to differentiate between the bitcoin address types. There are three types of bitcoin addresses:

 

1.  Legacy 

These address start with 1. See example below, they are the old form of bitcoin address. And they are referred to as P2PKH

1LB8PpVae34m4vCaKkBDkioE948VNbKRfW

 

2. Nested segwit

These are addresses that started with 3. See example below. On many wallets like Coinomi, they are referred to as compatible addressed. That are P2SH addresses. 

3LrsEmgWnDydgWzP8rLyiozrWn37tQrxQz

 

3. Native segwit

These are the real segwit addresses,they are called sigwit address because of its segregated witness that led to the creation of such addresses in 2017 which was supported by bitcoin community. See example below. They stated with bc1 and are called bech32 addresses. 

bc1qnmyjf3reqz38q0wwaqqn5pvzmv9c0sq85zgf4q

 

The point

Normally, transacrion fee is in satoshi per byte for legacy and nested segwit addresses because the transaction is calculated using the transaction size. Unlike native segwit, the transaction fee is more reduced than while using other addresses for transaction. But this only apply to while sending bitcoin from native segwit addresses to another native segwit addresses. The transaction is not also calculated in size but in weight and calculated in satoshi per vbyte. 

If I had noticed that sometimes the wallet gives two addresses to deposit but I did not know why, however, every day something new is learned and today was one of them, I generally use the one that is most compatible, and with respect to the Commissions that charge depending on the address you choose I had no idea, thank you very much for the info, I think I'll see your post to learn a little more about the subject, greetings

Share this post


Link to post
Share on other sites

Litecoin is my favorite when making withdrawal transactions, its commissions are very low, thanks for this information it is good to educate yourself more and more.

Share this post


Link to post
Share on other sites
I would like to know a little more about the subject, since when we start to carry out more transactions with BTC, we must know the fee for each transaction since sometimes it can be expensive

Share this post


Link to post
Share on other sites

Thanks a lot for this. The addresses used more often are legacy and nested segwit and maybe the segwit will be used more often as it saves fees and there is no reason to spend more fees for our transactions. The bc1 addresses are not found very often.

Share this post


Link to post
Share on other sites

Excellent information, many users don´t know the difference between the types of addresses that exist for btc. Thank you very much for sharing this summary.

Share this post


Link to post
Share on other sites

 

I think it is a great topic, very good information especially for beginners, my favorite currency to try is ethereum for its low fees and its transactions are faster than bitcoin, your information is really useful for me and valuable I will keep the segwit wallet

Share this post


Link to post
Share on other sites

This is something that I have been clear about but there are times when transaction costs are usually a bit high and usually take a long time due to network congestion, which today is still the Achilles heel of bitcoin, the exaggerated number of transactions per minute

Share this post


Link to post
Share on other sites

This information is really useful, it is good that there are forums where they give you this very important knowledge to be able to understand and undertake in the cryptocurrency market, especially beginners who are just entering the world of cryptocurrencies.

Share this post


Link to post
Share on other sites

Bitcoin is a good currency. More money can be earned with less investment and even its popularity is much higher in terms of usage numbers. I thought and the address bitcoin can't be free then if it is free then it will fall into many scams thank you for sharing the matter with me .

Share this post


Link to post
Share on other sites

the transactions fees depends upon the size of the transaction unit, beginners should read this topic and research more knowledge 

  • +1 1

Share this post


Link to post
Share on other sites

Very good advice, I've heard of a lot of wallets, and I've seen myself cut some BTC in some wallets but I don't like to give away for free. But to take it from one wallet to another,

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Принимайте high risk платежи со всего мира с помощью Paykassma   Ведущее решение для обработки платежей в Индии, Бангладеш, Индонезии, Вьетнаме, Южной Африке, Бразилии и многих других странах с 2019 года   3,2+ млрд потенциальных клиентов на самых перспективных рынках ждут вас   100+ локальных платежных методов в одной интеграции: bKash, Nagad, Upay, Rocket, PM, PhonePe, UPI, UPI S, IMPS, PayTM, Easypaisa, Jazz Cash, Skrill, Neteller, Vietin Bank, Visa, Mastercard и многие другие   Попробуйте Paykassma сегодня!   Рост конверсии +20% Увеличение оборота x100 за неделю 99.9%+ успешных платежей Без роллинг резервов Без холдов Расчетный период T+0 Поддержка 24/7/365    Моментальный прием платежей, выплаты пользователям и вывод средств в BTC/USDT или через банковский перевод в любое время   Помогаем расти бизнесам в любых вертикалях с 2019:   iGaming Forex Trading Binary Dating E-commerce Education & more   Простая интеграция через API или Платежную страницу с настраиваемой формой оплаты   С чего начать?   Оставьте заявку по ссылке ниже, и в ближайшее время вы получите лучшее предложение для процессинга high risk платежей   Оставить заявку   FAQ   Как выбрать лучший платежный шлюз для high-risk ниши?   При поиске решений для процессинга платежей в high risk вертикалях очень важно оценить, сможет ли шлюз справиться с ожидаемым объемом транзакций, особенно в пиковые моменты. Ищите поставщиков с большим опытом работы в отраслях с высоким уровнем риска. Убедитесь, что шлюз соответствует требованиям PCI DSS. Проверьте, насколько легко интегрировать конкретный шлюз с вашими существующими системами. Paykassma работает на рынке high risk платежей с 2019 года, поэтому наша команда сможет обеспечить надежную инфраструктуру, способную без труда обрабатывать платежи в любом масштабе.   Что такое процессинг high risk платежей?   Обработка high risk платежей – это услуги, предоставляемые Paykassma бизнесам, которые работают в вертикалях с повышенным риском возврата платежей, мошенничества или более склонны к финансовой нестабильности. Регулирующие органы часто осуществляют усиленный контроль над подобными организациями. Это такие вертикали как электронная коммерция, фарма, нутра,  форекс, трейдинг, азартные игры (“гемблинг” или “гэмблинг” как казино, “букмекерство” или “беттинг” как ставки на спорт), развлечения для взрослых и другие. Будучи ведущим платежным процессором в high risk сегменте, Paykassma специализируется на работе с такими видами бизнеса, предлагая им возможность принимать оплату через 100+ локальных платежных способов по всему миру.   Что такое high risk merchant account?   High-risk merchant account – это тип банковского счета для бизнеса в сегменте high risk. Наличие подобного счета позволяет компаниям работать и развиваться, принимая платежи в режиме онлайн. Для high risk merchant account очень важно найти подходящего платежного оператора, который понимает их отрасль и может предложить условия и услуги, соответствующие их конкретным потребностям. Paykassma – выбор лидеров индустрии, проверенный и надежный поставщик high risk merchant account на рынках Азии, Африки и других регионов с 2019 года.   Попробуйте онлайн-демо     Отправляйте заявку по ссылке ниже, и мы предложим вам лучшее решение для обработки high risk платежей по всему миру в ближайшее время       Оставить заявку  
    • Уважаемые форумчане!Рады сообщить, что наш обменник разместился на мониторингахhttps://glazok.org/exchange/?details=1274 https://www.okchanger.ru/exchangers/xgramБудем рады Вашим пожеланиям!
    • Друзья, наши курс на данный момент: BTC – RUB – 6 285 602 (Не забывайте, что курсы нестабильны, точные данные можете узнать в моменте у поддержки)
    • Все же пока надеюсь на понижение цены битка и в зону 61К-63К, вот тогда-то и можно будем подумать о покупке токена аркхэма... А сейчас затарился пока лаймом по полной, вот где надеюсь на перспективу)
    • Ой как тут замечательно получается) Осталось только варенья вкусного прикупить и кому-то для профилактики что-нибудь помазать... Ну а я однозначно умываю руки, больше я в такие многомесячные игрища не игрок((
    • Ага, вот оно как) Да я не против того, чтобы лидеры получали заслуженно, я скорее про то, что и тем, кто внизу, надо было бы что-нибудь подбрасывать, а то настроение участвовать достаточно быстро улетучится.... За расшифровку вопросов отдельное спасибо)
    • Я так понял, что "прикольные" сообщения от модера Вас не задели и не рассмешили)  Ну посмотрим, посмотрим... Я скоро, похоже, перейду на схему 2-3 раза в неделю появления на форуме, ситуация на работе накаляется, времени совсем нет...
    • Добрый день всем нынешним и будущим клиентам 😊 Курс по направлению: USDT – RUB – 88.6 Обменник работает в ручном режиме, 24/7. Подробности уточняйте у операторов.
    • Раз не верится, то точно будет)) Таков закон в этой теме) Почти все, во что не верится и кажется не совсем реальным, а порой невозможным, потом может произойти) БНБ сейчас 582, не сдается, шевелится)
    • Паниковать конечно нет смысла, у нас на кукоине скорее всего не сотни и даже не тысячи баксов, так что даже какие-то передряги не особо уж катастрофичны) Но просто жалко заработанные тугрики, поэтому и бдишь)
×
×
  • Create New...