Lower your Bitcoin fees by using SEGWIT on your Ledger Wallet!

Segwit recently launched on the Bitcoin network with the promise of cheaper fees and more transactions per second, but much to everyone's dismay, the big day came - and nothing happened. Why are all our transactions not immediately cheaper?

Well... It would seem that there is some misunderstanding with how Segwit works. This upgrade does indeed allow for cheaper fees and frees up space for more transactions per block - but it is "OPT-IN" meaning that wallet providers and users have to actively choose to use it. As the industry and users begin to migrate, they will be able to take advantage of these new features.

To the best of my knowledge, the first company to open up the segwit option to the general public is Ledger, with their Ledger Nano S wallet. The process is really quite simple once you see it - you're essentially starting a new account and transferring your Bitcoin to it. If you'd like to start using segwit TODAY and you have a Ledger, please check out my video below! Also, please share on social media, because the more people that take these steps, the more transactions per second the Bitcoin network will be capable of handling. It's win/win!!!

Now, if you don't have a Ledger, don't fret - Trezor is rolling out Segwit support TODAY, and many other mobile wallet apps should have support in the near future. These things start slow, but as they build momentum we should start to see a sort of snowball effect.

Finally, if you'd like to support the show AND get a kickass hardware wallet at the same time:

Buy a Ledger:
https://www.ledgerwallet.com/r/faca

Buy a Trezor:
https://shop.trezor.io?a=tkt776hveg2b