BitPay Adds Support for SegWit
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2 July
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A bitcoin payment service provider BitPay has announced it added support for Segregated Witness (SegWit), an implemented protocol upgrade intended to provide protection from transaction malleability and increase block capacity.

According to an official announcement, support for SegWit is currently an optional feature for Bitcoin wallets in the BitPay App. In order to take advantage of SegWit, users must create a new Bitcoin wallet.

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The company says it will also implement SegWit support for invoice payments later this year.

"We have also updated the fee estimation algorithm in the BitPay App to improve accuracy, reduce transaction confirmation times, and lower fees. This improvement could reduce fees by as much as 5-10% over previous versions and now works on all bitcoin wallets (SegWit and non-SegWit)," the company said.

BitPay also announced it will introduce a new dark mode for BitPay App later this month.

BitPay earlier entered into a partnership with Simplex, a fiat payment aggregator. As a result of the partnership, BitPay's clients have access to purchase cryptocurrency directly with fiat in the BitPay App.

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