Bit2Me is making an important update to the Bitcoin address management system, migrating legacy addresses to SegWit and Taproot technologies. This upgrade will bring significant benefits, including better network fees, faster transactions, enhanced security, and improved efficiency for smart contracts.
You can learn more about the advantages of SegWit and Taproot at Bit2Me Academy:
A portion of Bit2Me users already work with SegWit, so this update only applies if your current address does not start with bc1.
What actions do you need to take?
- Generate a new deposit address.To generate a new address, simply go to the BTC deposit screen from the app or the website.
You can find the steps here:
2.Stop using old addresses. For your next deposits, avoid using old addresses. We recommend using the new ones.
Remember: If your address already starts with bc1, no action is required.
Transition Period
Old addresses will continue to accept deposits for the next 3 months, and funds sent to these addresses will be automatically credited to your account.
After this period, any funds sent to old addresses will not be lost, but the process to credit these funds will be manual and may take longer than usual.
Importance of the Change
This update allows us to continue providing you with an efficient service while adapting to the new BTC address formats.
We appreciate your cooperation during this transition period and apologize for any inconvenience this may cause. If you have any questions or need assistance generating a new address, please do not hesitate to contact our support team.
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