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Now that Electrum 3 supports Bech32 addresses for segwit, when sending coins to a legacy address are fees higher or cheaper?

2 Answers 2

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  • Transfer from Legacy ⟶ SegWit: pay full fee (doesn't benefit from SegWit discount)
  • Transfer from SegWit ⟶ Legacy or SegWit: discounted.

Note: SegWit addresses can be Bech32 bc1... or they can be nested in a legacy P2SH 3... address which are backwards-compatible (although less efficient). Many exchanges, wallets support the legacy "nested" form only.

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In general spending from a segwit output (i.e. "sending from" a segwit address) will be cheaper than spending a non-segwit output (i.e. "sending from" a non-segwit address). So yes, if you "send from" a bech32 address, it will be cheaper than "sending from" a P2PKH address.

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  • My coins are on mycellium now and I'm assuming I can't send these coins to a bc1 address. How do you suggest I move it into electrum? Do I just do a sweep? Nov 6, 2017 at 16:22
  • 1
    Import your seed phrase into Electrum and send from there. Or use Electrum to sweep your coins.
    – Ava Chow
    Nov 6, 2017 at 16:23

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