Which Bitcoin address type avoids a failed swap on older platforms
Use a legacy Bitcoin address (starting with "1") if you are swapping on an older platform. Native SegWit addresses (starting with "bc1") and Nested SegWit addresses (starting with "3") can cause failures on platforms that have not updated their parsing software.
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The reason lies in how Bitcoin address formats evolved, and how some exchange interfaces have not kept pace with the changes.
A short history of Bitcoin addresses
Bitcoin originally used addresses beginning with "1". These are called Legacy or P2PKH (Pay-to-Public-Key-Hash) addresses. They are the simplest format, supported by every wallet and exchange that has ever existed.
In 2012, Pay-to-Script-Hash (P2SH) addresses arrived. These start with "3". They allowed more complex transaction scripts and became common for multisignature wallets. Many exchanges adopted them.
In 2017, the SegWit upgrade introduced Native SegWit addresses. These start with "bc1". SegWit reduces transaction size and fees. It also fixes a long-standing problem called transaction malleability. Most modern wallets support it. Many older platforms do not.
Where swaps break
When you initiate a swap, the platform generates a deposit address for you. You send Bitcoin to that address. The platform then forwards the Bitcoin to the exchanger, which executes the trade.
If the platform is old or poorly maintained, its address parser may only recognise "1" and "3" addresses. If you paste a "bc1" address, the parser may reject it outright. Worse, it might accept it silently, then fail at a later step when the exchanger tries to validate the address. Your Bitcoin can be stuck in limbo. Recovering it requires manual intervention, which can take days or weeks.
The same problem can occur with "3" addresses on very old platforms. Most platforms that support "3" also support "1". But a handful of legacy systems only handle "1".
How to check before you swap
Before entering an address, look at the platform's documentation or FAQ. If it mentions "Legacy addresses only" or "P2PKH only", use a "1" address.
If the platform does not specify, test with a small amount first. Send a tiny fraction of your intended swap to a "1" address. If that succeeds, you can safely use it for the full amount. Never test with a "bc1" address on an unknown platform.
If you must use a "bc1" address and the platform does not support it, you can convert it. Some wallets offer a "convert address" feature. If yours does not, you can generate a Legacy address from the same wallet. Most wallets let you create multiple address types from the same seed phrase.
Why this matters for swapping Bitcoin for other assets
The hub page, "Swapping Bitcoin for other assets", covers the general process of moving Bitcoin into another chain or token. One of the steps in that process is providing a return address. If that address is a type the platform cannot handle, the swap fails before it begins. Knowing which address type to use saves you time and lost funds.
What about newer platforms
Newer platforms almost always support all three address types. Many also support Bech32m addresses (starting with "bc1p"), introduced with the Taproot upgrade in 2021. These are even more efficient. But the rule of thumb remains: on an unknown platform, default to "1" unless you are certain.
Summary
For a swap on an older platform, use a Legacy address beginning with "1". It is the safest choice. "3" addresses work on most platforms. "bc1" addresses fail on many older ones. When in doubt, test with a small amount first.
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