Important: Segwit vaults are currently only available to Unchained Signature clients, who can unlock products and features before the official release. Other Unchained clients can create segwit vaults after the official release. If you are already a Signature client, contact us to enable segwit on your account.
Segwit is an upgrade to bitcoin that helps users save on transaction fees over time. You can learn more about segwit in our article. All new Unchained vaults will automatically use segwit by default.
If you have an older vault, you will see a Legacy indicator which means it isn't using segwit. If you don't see that indicator, your vault already uses segwit.
Note: Vaults without segwit, also called legacy vaults, are secure and can continue to be used. However, transaction fees will generally be higher for legacy vaults.
How clients with legacy vaults can upgrade to segwit
If you have a legacy vault and want to get the benefits of segwit, you can build a new vault and transfer your bitcoin into the new vault.
Caution: Moving bitcoin is a sensitive process. If you want an Unchained team member to help you, you can sign up for a Premium Support appointment. In the field that asks "What best describes what you want help with?" please choose segwit upgrade.
- Create a new vault. When you build your new vault, you can use the same keys you are using for your legacy vault. You do not need to alter your keys or upload new keys.
- Review best practices. You can review our guide: What steps should I take after building an Unchained vault?
- Transfer your funds. Next, you can move your bitcoin from your old legacy vault to your new segwit vault. Navigate to the old legacy vault and select Withdraw. Choose Transfer (internal), select your new segwit vault, and select Next.
- Choose the amount, sign, and broadcast. Choose Max withdrawal for efficiency, or you can move bitcoin over multiple transactions. Sign and broadcast the transaction in the same way as other withdrawals.
- You're done! Once your balance is moved to the new vault, it will have the transaction fee advantages of segwit.