Bitfinex Now Supports Bech32 Addresses 

Hey ninjas, how’s the trading going? On the day the majority of the top cryptos are reporting gains, Bitcoin is trading at $9,275, Ethereum is trading at $186 and XRP is trading at $0.29.

Bitfinex crypto exchange now supports Bitcoin bech32 addresses, on the 29th of October the exchange launched Bitcoin withdrawals but officially announced that it also supports Bitcoin deposits to bech32 on the 4th of November.

Bech32 Bitcoin address is a segregated witness (segwit) address format specified by BIP 0173, the address consists only lower case letters and begins with bc1.

The new addresses were designed to provide better protection against typing errors, increase block size limit, increase transaction capacity and lower fees. 

Bitfinex users now have the option of using a bech32 address or Pay To Script Hash (P2SH) deposit address, as the new address is not supported by all exchanges.

The firm noted that introducing a bech32 address is proof of its commitment to accelerating the adoption of SegWit.  The firm also hinted that it would be adding the lightning network to its exchange soon. 

Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis. 


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