Brandon Bucher, co-founder of Lightning Pay, recently joined Cody Ellingham on The Transformation of Value podcast to explore the often-overlooked topic of UTXO (Unspent Transaction Output) management. UTXOs are the backbone of Bitcoin transactions, similar to bills in your physical wallet. Efficient management of these outputs is essential for minimizing transaction fees and preserving privacy.
Brandon highlighted the challenges users face, including higher fees during network congestion and privacy risks. He shared actionable tips like consolidating UTXOs during low-fee periods, avoiding dust (tiny outputs that are costly to spend), and using wallets with advanced features like coin control.
This discussion underscores the importance of education around UTXO management for both individuals and businesses, contributing to a more efficient and decentralized Bitcoin network. With fees continuing to be low on the Bitcoin network, now is the time to get your house in order on UTXOs.
Listen to the full episode of The Transformation of Value podcast here, or contact us at Lightning Pay if you have any questions.