Post
Topic
Board Electrum
Re: Segwit addresses on Electrum
by
corsaro
on 11/12/2017, 17:11:53 UTC
yes. You can have a segwit addresses starting with 3 on electrum (better then the one starting by bc1 used by default as segwit on electrum).

1) generate a bip39, 12 words seed on https://iancoleman.io/bip39/ (use it offline for more security)
2) on electrum choose, create new wallet, I already have a seed, then on "options" choose bip39, paste the seed then click next
3) on derivation path path use: m/49'/0'/0'/0

that's all
You might want to double check the Private keys that Electrum is generating using this method. I just tried this, and the public address and public key are the same as the BIP39 Mnemonic Code Converter... but the private keys are different??!? Huh Huh Huh

Electrum private key: LLCKoLPeE5sfCn79kUe9eqWFN32UYip2CjdmsJ48UgbHqxMcBxyD
BIP39 private key: L334f1fqsn3PFk5ceKrN4VKGsAdAstGZsrPWkPMwVj5sHHv9mebd

Pubkey: 02f5bd4fab452b5b850d6131175d5d9ac64079fa230e6e68f6660d1ede80b02dd5
Address: 39tWyTGX4K75Z1Bni9nR2qHWVJjRU5wZRQ

I tried putting the private key generated by Electrum into bitaddress.org and it says "Invalid, version 130 not supported"...

if you check, the addressed generated by electrum using the specific BIP39 seed (derivation path m/49'/0'/0'/0)  are the same listed under BIP49 on page https://iancoleman.io/bip39/
so everything is fine. Actually I am using the electrum segwit wallet with "3" addresses with no problems.

here you can find a discussion about this method.
https://pay.reddit.com/r/Bitcoin/comments/7a7i69/electrum_30_release/dp8njgs/

Besides, you can see that when electrum generates a private key of a segwit address, it alerts you that it is not compatible with other wallets (warning: the format of private keys associated to segwit addresses may not be compatible with other wallets). In particular you cannot use a segwit private key on bitaddress.org who generates legacy addresses