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  • Sending Bitcoin to 1 Address

  • Richard

    Member
    August 4, 2021 at 12:16 am

    Hi,

    I recently sent 1 Bitcoin from 1 exchange to another and saw that there were 2 addresses that were labeled as recipients. Why?

    When I looked the transaction up on Blockchair I could see that there were 7 senders and 2 recipients. One of the recipients was my wallet at my other exchange and the other address got $427.53. Who got this other amount? The fee amount is as below.

    Amount transacted

    1.01024084 BTC42,146.20USD

    Transaction fee

    0.0000071 BTC0.30USD

    Fee per vbyte

    1satoshi

    Can someone please explain to me who was this other person, why they got it and how was it calculated?

    Trying to understand how it works.

    Thank you in advanced.

  • Chris Coney

    Administrator
    August 7, 2021 at 8:09 pm

    This is probably ‘change’.

    If I create a new wallet and receive 1 BTC, my balance is 1 BTC.

    If I then send 0.1 BTC, I actually send 0.1 BTC to you and send 0.9 BTC back to myself as ‘change’. Wallets typically generate a new receiving address in order to send the change back to itself.

    Each input into your Bitcoin wallet has to be spent in it’s entirety, like a $20 bill. You don’t tear a piece off when you spend $5.

    You spend the whole $20 and get $15 back into your wallet.

    Bitcoin works like that.

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