<p>When you bought bitcoins on Bybit, Bybit added the corresponding Bitcoin balance to your account. Your request to withdraw your funds to your Coinbase wallet caused Bybit, in the role of the custodian of your funds, to issue a payment that sent the funds to your wallet (and reduce your balance with Bybit accordingly).</p>
<p>Bitcoin transactions may perform multiple payments at once by assigning funds to multiple recipients in separate transaction outputs.
Presumably, Bybit is a large enough service that many other users requested withdrawals around the same time, and this allowed Bybit to batch together all those payments in a single transaction. As every transaction needs at least one transaction input, a transaction header, and usually a change output to assign the remaining funds back to the sender, payment batching is more blockspace efficient and allows the service to reduce their cost per withdrawal.</p>

CC BY-SA 4.0
2021-01-25T04:49:12.070Z
2021-01-25T04:49:12.070Z
Murch
<blockquote>
<p>Why am I seeing so many transactions with different amounts</p>
</blockquote>
<p>Your custodian probably pooled a bunch of requested IOU transactions together into one larger actual Bitcoin transaction to reduce transaction fees.</p>
<hr />
<p>This happens because you are using a <a href="https://bitcoin.stackexchange.com/q/81240/13866">custodial wallet</a> (the least safe kind) and are not the real owner of money as far as the Bitcoin network is concerned. You just have a kind of <a href="https://en.wikipedia.org/wiki/IOU" rel="nofollow noreferrer">IOU</a> that isn't known to the Bitcoin network. The creators of Bitcoin wanted to do away with trusted third parties such as these custodians. By using a custodial wallet you are defeating a large part of the purpose of Bitcoin and (arguably) making your money less safe. That's perfectly OK if you value convenience above security and are happy to blindly trust nameless people who may be located in a far away country whose laws and protections you know nothing about.</p>
<p>The above is a bit of a rant and most customers of the businesses you mention doubtless have a happy and flawless experience. Unfortunately the same was true for MtGox and Quadriga-CX and many others until near the end of those businesses when many customers lost all or most of their money.</p>

CC BY-SA 4.0
2021-01-21T11:28:36.777Z
When you say IOU, does that mean I am owed or I owe? I received my amount that i sent across wallets, am I owed or do I owe?
BTCNOOB
CC BY-SA 4.0
2021-01-21T11:31:17.160Z
@BTCNOOB, you gave some fiat money to some people somewhere. You believe they owe you that money or an equivalent amount in some other currency at a rate set by those people at the time you handed over your savings to them. So you believe they owe you. You then asked those unnamed people to send some part of the money owed you to some other group of unnamed people. Now you think both groups of unnamed people owe you money.
RedGrittyBrick
CC BY-SA 4.0
2021-01-21T11:18:01.540Z
2021-01-21T12:05:34.700Z
2021-01-21T12:05:34.700Z
RedGrittyBrick
<p>So I sent BTC from my Bybit wallet to Coinbase wallet.</p>
<p>The transaction was successful and I was looking at the blockchain explorer and it had one sender address with an amount different to what I sent and it had so many other recipient addresses listing different amounts. I saw my transaction amongst the various transactions listed in the hash.</p>
<p>Why am I seeing so many transactions with different amounts and is the senders address my address or Bybit?</p>
<p>I am new to BTC and a total noob, please help me make sense of this.</p>
<p>Thank you!</p>

<withdrawal><payment-batching>
Why are there so many recipients when I send money from one exchange to another?
BTCNOOB
# Why are there so many recipients when I send money from one exchange to another?

(Asked by: username_0 on 2021-01-21)

So I sent BTC from my Bybit wallet to Coinbase wallet.

The transaction was successful and I was looking at the blockchain explorer and it had one sender address with an amount different to what I sent and it had so many other recipient addresses listing different amounts. I saw my transaction amongst the various transactions listed in the hash.

Why am I seeing so many transactions with different amounts and is the senders address my address or Bybit?

I am new to BTC and a total noob, please help me make sense of this.

Thank you!

**Tags:** withdrawal, payment-batching


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## 2 answers

### Answer by username_1 on 2021-01-25. Score: 1

When you bought bitcoins on Bybit, Bybit added the corresponding Bitcoin balance to your account. Your request to withdraw your funds to your Coinbase wallet caused Bybit, in the role of the custodian of your funds, to issue a payment that sent the funds to your wallet (and reduce your balance with Bybit accordingly).

Bitcoin transactions may perform multiple payments at once by assigning funds to multiple recipients in separate transaction outputs.
Presumably, Bybit is a large enough service that many other users requested withdrawals around the same time, and this allowed Bybit to batch together all those payments in a single transaction. As every transaction needs at least one transaction input, a transaction header, and usually a change output to assign the remaining funds back to the sender, payment batching is more blockspace efficient and allows the service to reduce their cost per withdrawal.


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### Answer by username_2 on 2021-01-21. Score: 0

> Why am I seeing so many transactions with different amounts

Your custodian probably pooled a bunch of requested IOU transactions together into one larger actual Bitcoin transaction to reduce transaction fees.

---

This happens because you are using a [custodial wallet](https://bitcoin.stackexchange.com/q/81240/13866) (the least safe kind) and are not the real owner of money as far as the Bitcoin network is concerned. You just have a kind of [IOU](https://en.wikipedia.org/wiki/IOU) that isn't known to the Bitcoin network. The creators of Bitcoin wanted to do away with trusted third parties such as these custodians. By using a custodial wallet you are defeating a large part of the purpose of Bitcoin and (arguably) making your money less safe. That's perfectly OK if you value convenience above security and are happy to blindly trust nameless people who may be located in a far away country whose laws and protections you know nothing about.

The above is a bit of a rant and most customers of the businesses you mention doubtless have a happy and flawless experience. Unfortunately the same was true for MtGox and Quadriga-CX and many others until near the end of those businesses when many customers lost all or most of their money.

> **Comments:**
> **username_0**: When you say IOU, does that mean I am owed or I owe? I received my amount that i sent across wallets, am I owed or do I owe?  
> **username_2**: @username_0, you gave some fiat money to some people somewhere. You believe they owe you that money or an equivalent amount in some other currency at a rate set by those people at the time you handed over your savings to them. So you believe they owe you. You then asked those unnamed people to send some part of the money owed you to some other group of unnamed people. Now you think both groups of unnamed people owe you money.  

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