When you open your Bitcoin wallet, you are prompted to select
- between Bitcoin and Bitcoin Cash,
and if you select Bitcoin:
- between LEGACY and SEGWIT.
If you click on "I don't know", your legacy Bitcoin wallet will open by default.
LEGACY is the historic branch of Bitcoin blockchain. It is the one which has been used from the begining of Bitcoin. That is where your coins are by default if you had some bitcoins before Segwit was launched. You can chose to go on transferring your coins on your legacy wallet, as you always did. Or you can select Segwit.
SEGWIT is a branch of Bitcoin blockchain released in August 24th 2017. This branch was created to:
For instance using a Segwit address is definitely recommended if you plan to collect small transactions such as mining rewards. But it can also be used for any kind of transactions, and/or for all your transactions.
HOW TO USE SEGWIT ADDRESSES ?
You can receive some Bitcoins on it, transferred from your Bitcoin Legacy wallet, of from any Bitcoin wallet.
If you want to migrate all (or part of) your bitcoins from your Legacy wallet to your Segwit wallet, follow this tutorial step by step.
- Launch the Ledger Wallet Bitcoin application
- Connect your device, enter your PIN code
- open your Bitcoin application on the device itself (only required with a Nano S)
- Disable the "Browser support" setting of this application (only required with a Nano S)
- Select the Bitcoin chain, not Bitcoin Cash*
- Select SEGWIT
- Your Bitcoin wallet opens
- Click on "Receive", a popup opens
- Copy the "Bitcoin address" which is displayed
- close the "Receive" window
- Click on "Settings" and "blockchains"
- Then you are prompted to the home menu
- Select Bitcoin, not Bitcoin Cash*
- Select LEGACY
- Click on "Send"
- Paste the copied Sewit address on the recipient address field
- Fill in the amount, the fees, and send your transaction
If you prefer you can also send bitcoins on several Segwit addresses, as it is a HD wallet.
Word of caution to Bitcoin Cash users : NEVER send Bitcoin Cash to a Segwit address generated on the Bitcoin network — you wouldn’t be able to recover your coins.
SEGWIT THIRD PARTY WALLETS
Segwit support for Ledger products is available on:
- GreenAddress (desktop, Android)
- GreenBits (Android).