Would migrating my coins to a segwit (bc1) address reduce my fees as I send them out?

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Currently fees are a bit ridiculous when sending from mycelium. I'm thinking of migrating all my coins to electrum 3 as a segwit (bc1) address. Then, would my fees be smaller? And if I exclusively use electrum 3, would I be able to send my coins to legacy addresses (1...) without any issues?

Patoshi パトシ

Posted 2017-11-06T15:28:28.873

Reputation: 8 911

Answers

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I'm thinking of migrating all my coins to electrum 3 as a segwit (bc1) address. Then, would my fees be smaller?

When you send your coins to bech32 addresses, the fees will not be smaller. However the fees will be smaller when you spend from those bech32 addresses.

And if I exclusively use electrum 3, would I be able to send my coins to legacy addresses (1...) without any issues?

Yes.

Andrew Chow

Posted 2017-11-06T15:28:28.873

Reputation: 40 910

Aside from electrum 3. What other wallet options do I have?Patoshi パトシ 2017-11-06T15:39:01.913