Bitfinex Makes Bitcoin Withdrawals Safer, Integrates Bech32 segwit Addresses

Bitfinex

Bitfinex Makes Bitcoin Withdrawals Safer, Integrates Bech32 segwit Addresses

Cryptocurrency exchange, Bitfinex has announced a platform upgrade in which, according to their official announcement, enabled withdrawal to Bech32 addresses. The platform also announced the addition of new charting tools for derivative trading.

Bitfinex Supports Withdrawals To Segwit Bech32 Addresses

The news comes following an official announcement by Bitfinex on Tuesday that the exchange was updating its platform in order to enable bitcoin withdrawals to Bech32 addresses and also that charting tools had been added to its derivative platform.

As per Bitcoin withdrawals, Bitfinex has been supporting bitcoin on Pay To Script Hash (P2SH) wrapped addresses. This new integration with Bech32 addresses, according to the official announcement, is meant to remove every possibility of bitfinex clients experiencing cross-chain mix-ups.

Bech32 addresses only exist on the bitcoin blockchain. It is a Segwit address format specified by BIP 0173 and has its addresses starting with the alpha-numeric character bc1. The segwit addresses offers greater protection, ensuring that funds are directed to the right recipients by offering a non-case sensitive type of addresses.

Bitfinex Customers Can Now Link Platform Accounts To Their Twitter Handles

Further, the platform also introduced a new system that makes it possible for its customers to connect their bitfinex accounts with their social media account on Twitter. This new feature enables Bitfinex users to connect their bitfinex account to their Twitter accounts and displays the same on bitfinex public leaderboards. The announcement included that more social media platforms will be integrated in the future.

The renowned crypto exchange also updated its Twitter account with the development. According to the tweet which leaves a clue to some of the usefulness of 00Twitter integration like following best traders, the exchange excites the community with the possibility of customers showing off their trading capacities and achievements over time.

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Bitfinex Makes Bitcoin Withdrawals Safer, Integrates Bech32 segwit Addresses
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Bitfinex Makes Bitcoin Withdrawals Safer, Integrates Bech32 segwit Addresses
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Cryptocurrency exchange, Bitfinex has announced a platform upgrade in which, according to their official announcement, enabled withdrawal to Bech32 addresses. The platform also announced the addition of new charting tools for derivative trading.
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Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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Dare Shonubi 245 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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