Bitcoin Wiki/Wallets & custodyCoin controlUpdated 9 October 2026StubRandom articleIn plain wordsChoosing which UTXOs to spend, for privacy and fee management.Glossary on the Learn page →See alsoUTXO (unspent transaction output)Bitcoin has no account balances. Your wallet holds separate “coins” called UTXOs, like notes in a purse; a payment spends some of them and creates new ones, including change back to you.KYC"Know your customer": identity checks required by regulated exchanges.