Bitcoin SegWit support in TREZOR Wallet released!

A quick guide and answers to your questions about SegWit.

Today, we are happy to announce that we are rolling out SegWit support for Bitcoin in TREZOR Wallet. If you have updated to firmware 1.5.2 as recommended two weeks ago, you can go ahead and open up the Wallet and use it right away! What changes are there? How can you use the new features? Read more below to find out!

Notice Your old accounts are available as Legacy accounts. If you do not want to use SegWit features, then you can continue using Legacy accounts, which will be supported indefinitely.

Why should I use SegWit accounts?

Let’s look at some of the SegWit benefits right now. With your new accounts you will have:

Faster transactions — Transaction signing runs much faster, especially in accounts with many inputs.

Cheaper transactions — SegWit transactions are counted as smaller and therefore cost less.

Future-ready — For new, second layer applications of SegWit.

Detailed description below.

Do I need to update my TREZOR?

If you have updated to firmware 1.5.2 then you are all set.

How do I move bitcoins to SegWit accounts?

To benefit from all the improvements that SegWit is introducing, you will first have to move your bitcoins to your new SegWit accounts, with new addresses. These addresses will have a different format — instead of 1 , which you might be accustomed to, SegWit addresses uses a special version of P2SH addresses, which start with a 3 .

When you enter the TREZOR Wallet, you will be brought to the first SegWit account by default (1). To move all your bitcoins, go to the Receive tab (2) and copy a receiving address (3). Verify the address with the “Show on TREZOR” function (4).