Change output
A change output is the portion of selected UTXO value returned to the sender when the inputs exceed the amount being paid plus transaction fees.
✦ Key Insight
Understanding change prevents users from incorrectly assuming that an unfamiliar output in their own transaction was an extra payment to somebody else.
✕ Common Misconceptions
Do not manually calculate change unless you understand Bitcoin transaction construction. Wallet software normally handles it automatically.
Detailed Explanation
In Practice
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Address
An address is a public identifier used to specify a destination or account on a blockchain network.
Dust
Dust is a crypto amount so small that spending it may be uneconomical because transaction fees can approach or exceed its value.
Coin control
Coin control is a Bitcoin wallet feature that lets users choose which specific UTXOs will be spent in a transaction.
UTXO
A UTXO is an unspent transaction output that represents a discrete amount of cryptocurrency available to be used as an input in a future transaction.