Last month we announced that BTC withdrawals to Bech32 addresses went live, and now we have an update for BTC deposits.

Today we have launched our new BTC deposit system that supports new style Bitcoin address types and changing your Bitcoin deposit address details.

If you log onto your account you will only see the options to deposit via the new processing method. Please note: deposits made to your old address will still be processed for now, but the frequency will be reduced over time and eventually be phased out over the next 3 months. Please see the FAQ section for more details.

The new deposit system will come with two main benefits:

  • You will have a choice of deposit address types: New style Bitcoin addresses that start with “bc1” or the legacy style Bitcoin addresses that start with a “3”. Use of “bc1” addresses is recommended, if your wallet supports it.
  • You will be able to request a new address for either address type, allowing you to use different addresses for deposits.

Please use the new deposit addresses going forward if you wish to make a BTC deposit. To do this, simply go to “My Account” -> “Deposit” -> “XBT” and select your desired BTC address type.

The new Bitcoin address type has a number of benefits over the legacy address type. It makes it much harder to send Bitcoin to an invalid address, and widespread use helps to scale Bitcoin. Adding this functionality continues our commitment to improving our services to our customers while simultaneously supporting the advancement of the Bitcoin network.

If you have any questions please contact our Support Team.