# UTXO

## Definition

A UTXO, or unspent transaction output, is a Bitcoin transaction output that has not yet been spent and can be referenced as an input in a later transaction.

## What it means in practice

Bitcoin tracks spendable value as discrete outputs rather than as a single account balance. A wallet calculates a user's balance by identifying the UTXOs it can spend.

## How this concept appears in Terenval Wallet

Terenval Wallet can present a BTC balance and create Bitcoin transactions while the underlying Bitcoin model remains UTXO-based.

**Important:** A displayed wallet balance can aggregate several UTXOs; transaction fees can depend on how many inputs are needed to spend them.

**[Install Terenval Wallet](https://wallet.terenval.com/?lang=en)**

## Related terms

- [Bitcoin transaction output](https://wallet.terenval.com/glossary/bitcoin-transaction-output/)
- [Bitcoin transaction input](https://wallet.terenval.com/glossary/bitcoin-transaction-input/)
- [Bitcoin transaction](https://wallet.terenval.com/glossary/bitcoin-transaction/)
- [Bitcoin fee rate](https://wallet.terenval.com/glossary/bitcoin-fee-rate/)
- [Bitcoin](https://wallet.terenval.com/glossary/bitcoin/)

## Related Terenval Answers

- [What Is a Crypto Wallet and What Does It Actually Store?](https://wallet.terenval.com/answers/what-is-a-crypto-wallet-and-what-does-it-store/)
- [How to Send Crypto Safely Between Wallets](https://wallet.terenval.com/answers/how-to-send-crypto-safely-between-wallets/)
- [Can the Same Seed Phrase Restore Bitcoin and Ethereum Accounts?](https://wallet.terenval.com/answers/can-same-seed-restore-bitcoin-and-ethereum/)

## Sources and review

- [Bitcoin Developer Guide](https://developer.bitcoin.org/devguide/)
- [Bitcoin Improvement Proposals](https://github.com/bitcoin/bips)
- [Terenval supported networks](https://wallet.terenval.com/info/supported-networks/)

Published by Terenval. Last reviewed: 2026-10-02. Terenval product statements are first-party information.

Official page: https://wallet.terenval.com/glossary/utxo/