Are there any limitations or restrictions when using native segwit on Coinbase?

3 answers

• Feb 17, 2022 · 3 years ago
  When using native segwit on Coinbase, there are a few limitations to be aware of. First, not all wallets or exchanges support native segwit addresses, so you may encounter compatibility issues when transferring funds. Additionally, some services may charge higher fees for transactions involving native segwit addresses. It's also worth noting that native segwit addresses start with 'bc1', which may not be recognized by all platforms. Overall, while native segwit offers improved efficiency and lower fees, it's important to consider these limitations before using it on Coinbase.
  582291
• Feb 17, 2022 · 3 years ago
  Using native segwit on Coinbase comes with a few restrictions. One important consideration is that once you enable native segwit, you won't be able to receive funds to legacy or nested segwit addresses. This means that if you have funds in those types of addresses, you'll need to transfer them to a native segwit address before enabling it on Coinbase. Additionally, Coinbase may have specific requirements for using native segwit, such as minimum transaction amounts or additional verification steps. It's always a good idea to check Coinbase's documentation or contact their support for the most up-to-date information on any limitations or restrictions.
  657219
• Feb 17, 2022 · 3 years ago
  While I can't speak specifically for Coinbase, I can provide some general information about native segwit. Native segwit, also known as bech32 addresses, offers several advantages over legacy and nested segwit addresses. It provides improved transaction efficiency and lower fees due to its more compact size. However, not all wallets and exchanges support native segwit addresses, so it's important to check if Coinbase supports it before using it. Additionally, some users may find the 'bc1' prefix of native segwit addresses unfamiliar, which could lead to potential confusion. Overall, it's best to consult Coinbase's documentation or contact their support for any limitations or restrictions when using native segwit on their platform.
  740185