Krutika Adani
Coinbase has finally integrated Bitcoin’s taproot addresses which are more efficient and give customers more ways to withdraw their crypto balances.
Coinbase customers will now be able to withdraw their Bitcoins and other assets like ordinals and BRC tokens and will not have to rout them via a third party.
Taproot addresses start with “bc1p” prefix which helps in their easy identification. Other types of Bitcoin addresses include Segwit, Native Segwit and Legacy.
The Taproot upgrade allowed multiple Bitcoin transactions to batch together and process them rather than verifying them one by one.
Several large CEXs support Taproot withdrawals like Binance and OKX.