How can I choose the right bitcoin address type for my needs?
marcus247Dec 24, 2021 · 3 years ago1 answers
I'm new to bitcoin and I'm not sure which address type is the most suitable for my needs. Can you provide some guidance on how to choose the right bitcoin address type?
1 answers
- Dec 24, 2021 · 3 years agoAt BYDFi, we recommend using P2PKH addresses for most transactions. They are widely supported and offer a good balance between security and compatibility. However, if you need advanced features like multisig or SegWit transactions, you can consider using P2SH or Bech32 addresses. It's important to choose an address type that aligns with your specific needs and the capabilities of the wallets and exchanges you plan to use. Remember to always double-check the address before sending any funds to ensure accuracy and prevent loss.
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