Help needed to spend from paper wallet

[LoyceV]

As per the example transaction the fees paid is way too much 0.001 BTC. Do i need to pay high transaction fees?

No. 1 sat/byte is enough now.

[sowns]

Question: Why do we need to worry about change? Shouldn’t it be enough to send the exact amounts plus fees? That’s what I do with all my transactions at least.

[Rath_]

Question: Why do we need to worry about change? Shouldn’t it be enough to send the exact amounts plus fees? That’s what I do with all my transactions at least.

That's not how Bitcoin transactions work. Every time you receive a payment, a new unspent output is created. If you don't want to have any change then you have to spend that whole output (it will be now considered as input in your transaction). The more inputs and outputs you have in your transaction, the higher the fee you will pay. You can find more detailed explanation here. For example, Ethereum does not have inputs/outputs, so there is no change.

Try to think of them as bills. You can't simply tear a 10 dollar bill in half.

[Pmalek]

Question: Why do we need to worry about change? Shouldn’t it be enough to send the exact amounts plus fees? That’s what I do with all my transactions at least.

You do it with Bitcoin transactions or are you referring to another currency?

If you have 1 BTC at an address and you need to spend 0.2 BTC, imagine that your 1 BTC is in the form of a paper bill. You need to spend the entire bill/1 BTC because you only have that one bill and no smaller bills. 0.2 BTC is going to the destination address and the rest (- the fees) is the change in the form of a new paper bill, worth 0.8 BTC that is now going to a new address/another one of your pockets.

[sowns]

Question: Why do we need to worry about change? Shouldn’t it be enough to send the exact amounts plus fees? That’s what I do with all my transactions at least.

You do it with Bitcoin transactions or are you referring to another currency?

If you have 1 BTC at an address and you need to spend 0.2 BTC, imagine that your 1 BTC is in the form of a paper bill. You need to spend the entire bill/1 BTC because you only have that one bill and no smaller bills. 0.2 BTC is going to the destination address and the rest (- the fees) is the change in the form of a new paper bill, worth 0.8 BTC that is now going to a new address/another one of your pockets.

Literally the entire crypto lineup. Least that way I wouldn’t have to worry about losing crypto(which now I know shouldn’t really be a thing at least in regards to BTC, so thx guys). Edit: On a side note: Am I able to choose a miner’s fee for the return?

[Rath_]

Am I able to choose a miner’s fee for the return?

The change is included in the same transaction as the coins you are trying to send. You can't divide them in separate transactions and pay different fees. By the way, that would be more expensive if it was possible. It's better to send a transaction with multiple inputs and outputs rather than a few single payments.

[LoyceV]

Question: Why do we need to worry about change? Shouldn’t it be enough to send the exact amounts plus fees?

I'll paint a scenario in which people have lost very large amounts of Bitcoins. This is how NOT to do it:
1. Import your paper wallet into a wallet
2. Send a small transaction
3. Delete the wallet assuming the remaining balance is still on your paper wallet
4. Realize you've lost thousands of Bitcoins and will never be a crypto millionaire

It depends on the wallet how change is treated, but it's safe to assume change will go to a different address and not back to your own paper wallet, unless you take precautions!
That's why it's better to sweep the funds into a wallet (make sure you create a backup of the wallet before funding it!), make payments from there, and send remaining funds back to a (new!) paper wallet if needed.

Further reading: Five Ways to Lose Money with Bitcoin Change Addresses