bitcoin background
How can we help you today?

What are “Default”, “Compatibility” and “New” addresses?

Modified on: 3 December, 2020 at 11:15 AM

In OWNR wallet, you can choose between three address types when receiving BTC.

“Default” address is the Bitcoin legacy address type, the mostly used one nowadays. It always starts with 1… and can be used for any BTC operations but doesn’t support SegWit.

“Compatibility” addresses start with 3… and are supported by most of the cryptocurrency services. They work like legacy addresses, but are mostly used when multiple signatures are required. You can easily send funds from Compatibility address to other two address types.

“New” addresses start with bc1… and support SegWit. While being the most secure and advanced option, “new” addresses are not supported by a number of exchanger services, crypto exchanges and other cryptowallets. Please make sure the other party accepts this “New” address before sharing it, otherwise the transaction may fail.

OWNR allows sending and receiving BTC with all the three types of addresses above.