What are the differences between a legacy account and a SegWit account on Trezor in terms of transaction fees and speed?

3 answers

• Nov 25, 2021 · 3 years ago
  A legacy account on Trezor refers to an account that uses the traditional Bitcoin address format. Transactions made from a legacy account have higher fees compared to SegWit accounts. This is because legacy accounts use larger transaction sizes due to the lack of SegWit's transaction malleability fix. However, the transaction speed of legacy accounts is not significantly affected. It is important to note that some exchanges and wallets still use legacy accounts, but the industry is gradually transitioning to SegWit accounts for lower fees and improved scalability.
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• Nov 25, 2021 · 3 years ago
  When it comes to transaction fees and speed, SegWit accounts on Trezor have an advantage over legacy accounts. SegWit, or Segregated Witness, is a Bitcoin protocol upgrade that improves transaction efficiency. SegWit accounts use a different transaction format that allows more transactions to be included in each block, resulting in lower fees. Additionally, SegWit accounts benefit from faster confirmation times due to the increased capacity of the Bitcoin network. Overall, using a SegWit account on Trezor can help you save on transaction fees and experience faster transaction confirmations.
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• Nov 25, 2021 · 3 years ago
  At BYDFi, we recommend using SegWit accounts on Trezor for lower transaction fees and faster transaction speeds. With SegWit, you can enjoy the benefits of reduced fees and improved scalability. By using a SegWit account, you can optimize your Bitcoin transactions and save on costs. It's important to stay updated with the latest developments in the cryptocurrency industry, and adopting SegWit is one of the ways to ensure you're making the most of your digital assets.
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