Your ecosystem guide / Bitcoin

Bitcoin: from UTXOs to Lightning

Bitcoin is a layer-one network secured through Proof of Work, with BTC as its native asset. A regular payment spends outputs from earlier transactions. Lightning uses payment channels, while Ordinals and Runes add their own accounting conventions to Bitcoin transactions.

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Standalone network: L1 · Proof of Work; Verified on 15.10.2026
Asset: BTC · 100,000,000 sat per BTC; Verified on 15.10.2026
Payments: UTXO transactions and Lightning channels; Verified on 15.10.2026

BTC and individual transaction outputs

A wallet selects the particular outputs to spend.

BTC

Native asset

One BTC contains 100 million satoshis. A wallet balance consists of the unspent transaction outputs, or UTXOs, it can spend.

ORD

An inscribed satoshi

Ordinals associates an inscription with a particular satoshi. An inscription-aware wallet follows its movement between outputs.

RUNES

Tokens assigned to outputs

Runes defines issuance and transfer rules for token balances assigned to Bitcoin outputs. Transfers require wallet support for that protocol.

Asset lifecycle

What changes when you pay

The example amounts illustrate the arithmetic; they are not a current network fee quote.

On-chain payment

01Input: 20,000 sat
02Recipient: 10,000 sat
03Change: 9,500 sat

The remaining 500 sat is the fee: 20,000 − 10,000 − 9,500. The input is spent in full, so the wallet returns the remainder as a new change output. The actual fee depends on transaction size and the selected rate.

Mechanism rules ↗

Lightning payment

01Recipient invoice
02Route across channels
03Updated balances

A payment follows channels with enough liquidity in the required direction. Balances change along the route without a separate Bitcoin transaction for every payment.

Mechanism rules ↗

An inscription or Runes output

01Select the intended asset
02Preserve its transfer accounting
03Recipient output

The wallet tracks the inscribed satoshi or the Runes balance. Input and output selection determine where that asset lands after the transaction.

Mechanism rules ↗

The base network and payment channels

Different layers use different state.

PoW

Block confirmations

Miners include transactions in blocks. Nodes enforce the rules, and later blocks add confirmations.

CHANNEL

Lightning liquidity

Channel liquidity is directional: outbound liquidity supports sending, inbound liquidity supports receiving. Opening and closing channels interacts with the base chain.

Products and applications

Sparrow handles Bitcoin transactions, Phoenix provides Lightning payments, and Ordinals documentation describes inscriptions and Runes.

Bitcoin wallet

Sparrow

A desktop wallet with coin control and hardware-wallet support.

Open ↗ How it works ↗

Mobile Lightning

Phoenix

A self-custodial Lightning wallet with channel management in the app.

Open ↗ How it works ↗

Protocol documentation

Ordinals / Runes

Documentation for inscriptions, satoshi numbering and Runes token balances.

Open ↗ How it works ↗

Choose how to receive BTC

A Bitcoin address and a Lightning invoice belong to different payment paths. An exchange withdrawal must use the supported network and receiving method.

Key custody

A self-custodial wallet manages keys on your device or hardware wallet. A custodial service keeps an account balance.

Payment details

An on-chain transfer uses an address on the intended network. Lightning uses a payment format supported by both wallets.

Fee and payment state

The wallet shows the transaction fee or Lightning payment terms. On-chain receipts track confirmations; Lightning tracks payment completion.

Exchange withdrawal fees

Withdrawal fees to Bitcoin
Coin	Exchange	Network on the exchange	Fee	Minimum	Withdrawals	Action
BTC	Kraken	BITCOIN	0.000015	0.000218	Open	Withdraw
BTC	Binance	BTC	0.00002	0.0001	Open	Withdraw
BTC	Bitget	BTC	0.00002	0.0005	Open	Withdraw
BTC	MEXC	BITCOIN(BTC)	0.00002	0.00004	Open	Withdraw
BTC	Gate.io	BTC	0.00003	0.0005	Open	Withdraw
BTC	BingX	BTC	0.00004	0.000046	Open	Withdraw
BTC	OKX	BITCOIN	0.000044	0.00008	Open	Withdraw
BTC	HTX	BTC	0.00005	0.0001	Open	Withdraw
BTC	Bybit	BTC	0.000057	0.00027	Open	Withdraw
BTC	KuCoin	BTC	0.00009	0.00018	Open	Withdraw

Exchange data as of 15.10.2026 20:07

Wallets for this network

Wallet

Keeper (Tonkeeper)

A wallet for transfers, swaps and connecting to apps. Previously named Tonkeeper; multichain features are available on mobile first.

Bitcoin

iOS · Android

User controls keys

Choose an app ↗ View details →

Checked 2026-10-01

Wallet

Phantom

A wallet for Solana, Ethereum, Base, Bitcoin and other supported networks. Available on mobile and as a browser extension, with asset transfers and app connections in one interface.

Bitcoin

iOS · Android · Extension

User controls keys

Download Phantom ↗ View details →

Checked 2026-10-01

Wallet · Terminal

Crypto Bot

A custodial Telegram wallet with transfers, checks, P2P and exchange trading. Deposit and withdrawal support depends on the exact coin and network.

Bitcoin

Service holds balance

Open Crypto Bot ↗ View details →

Checked 2026-10-01

Wallet · Terminal

xRocket

A Telegram wallet with transfers and cheques, a separate trading balance and exchange orders.

Bitcoin

Service holds balance

Wallet in Telegram ↗ View details →

Checked 2026-10-02

Wallet · Terminal

OKX Wallet / DEX

A Web3 product combining self-custody with a dedicated DEX trading module. The wallet is available in apps and an extension; the DEX combines token discovery, analysis and swap execution.

Bitcoin

iOS · Android · Extension

User controls keys

Download OKX Wallet ↗ View details →

Checked 2026-10-01

All wallets →

Keys, outputs and recovery

The custody model determines who authorises spending.

KEYS

Authorise a transfer

The key holder signs spending transactions for the corresponding Bitcoin outputs.

CHANNEL

Channel state

A Lightning wallet also manages channel state. Backup and recovery depend on the wallet implementation.

ASSET

Output selection

Ordinals/Runes-aware wallets identify related outputs to transfer the chosen asset under its protocol rules.

Miner fees and routing fees

A Bitcoin transaction fee goes to the miner of the including block alongside the block subsidy. Lightning forwarding nodes can charge routing fees; channel opening or closing separately uses on-chain transactions.

Sender

Transaction fee