Post
Topic
Board Electrum
Re: How to send BTC from Electrum to Binance?
by
nc50lc
on 22/03/2025, 07:10:00 UTC
I know that sending inside Binance, I can select the option "segwitbtc".
But I make the payment from my wallet to a wallet address (Binance). So is there a way to select sgwitbtc in the Electrum App?
Just to give you a bit of assurance that it'll work: That Network shown in Binance is just a "lazy implementation" of SegWit deposit their GUI which reuses the "Names" (e.g.: "Network") of the other options so they can just fill the "Value" (e.g.: "Bitcoin") with whatever the new option represents.
So even if SegWit isn't a actually a separate Network from Bitcoin, they just displays "Network" anyways to show "BTC(SegWit)".

You can also go to your Electrum's address list (View->Show Addresses) or Receive tab to get one of your address.
You'll see that "bc1" prefix that is not used in any other Network but Bitcoin.
You may see different address type if your Electrum wallet is old or restored from BIP39 seed with other script type option selected, but it'll still be able to send to that deposit address no problem.

This is the image the seller sent me:


There's something weird about the image:
Because it shows "SEGWITBTC" instead of "BTC(SegWit)" which is the exact text Binance currently using in the App.
That image is the result of clicking "Save and Share Address" in the App while "SEGWITBTC" is the one shown in the web version where it not possible to generate that screenshot/image.
Could be an old image though. (double-check the seller if he's legit and if the deal is too good to be true)