Post
Topic
Board Bitcoin Technical Support
Re: Need help moving BTC to exchange (Transaction stuck confirming for 48+ hours)
by
nc50lc
on 15/06/2024, 06:08:59 UTC
As for lightning network, BTC or segwit network selection on binance, i picked the BTC one because it says 41 confirmations and i think thats the one i used on my test transaction, im still not sure what those do completely
The two deposit options doesn't affect anything at your end except for negligible minimal reduction in the output's size by selecting legacy deposit address.
But for the whole network and Binance as well, it's recommended to deposit it to your SegWit deposit address.
That way, it's cheaper for them to consolidate their users' deposits and for the Bitcoin network, it can fit more Witness data from SegWit transactions in a block resulting with higher number of confirmed transactions per block.
Of course, you're only one person but "it's a start".

As for lightning, your wallet needs to have a lightning network support, (Electrum standard legacy wallet don't support it) and already setup a payment channel which IMO isn't newbie-friendly to manage.

BTW, that "41" isn't confirmations, it exactly says "Est. arrival 41 mins" which doesn't make sense.
They put that to emphasize the Est. arrival time they put in BNB Smart Chain deposit address.

Do i need to submit it to the accelerator? I looked at the accelerator website but I have no idea how to do it or what I am looking at
Even if you want to, its size isn't eligible to their free accelerator service.
It's a good thing that you've set an optimal fee that it didn't need an accelerator.