Batching Transaction for Beginners

[casey15]

Why send five seperate transactions when you can send them all at once using just one transaction fee which helps you save more.
If you need to pay multiple multiple people at once maybe they did a job for you just like we have in signature campaigns, or maybe you want to gift your friends or family some Bitcoin , making the individual transaction will cost you more money especially on transaction fee.
Each transaction has a base cost and when you send five seperate transactions you pay the base cost 5 times. But with batching, you only pay it once.
 So how do you batch??

It's not something very technical and you don't need to do modifications or write codes.. most professional wallets like Sparrow(for desktop) , and Blue wallet (for mobile) support batching and have it inbuilt..

On Sparrow (for desktop)
1. Go to the send tab
2. Then when you've entered the first wallet address you want to send to, look for the  add icon just beside the recipient bar and click on it
3. Add your second address and do the same for other addresses
4. Input the amount of BTC you want to send and send them all at once.


On Bluewallet(for mobile)
1. Tap on send
2. Add your first recipient address
3. Then look for the three dot at the top right corner and tap on it
4. Then tap on the Add recipient
5. Do the same thing for other addresses..



You should know that all the recipient are in the same transaction and they can see the other recipients address in the transaction history on a block explorer.... You should avoid using batch transaction for anonymous payment when you don want recipient A to know that you are also laying recipient B..
I hope this helps you....

[Zaguru12]

This is actually good thread, it is best to know that transaction fee are actually base on the transaction size of the transaction. So yes the single transaction compounded will have more fees than the batch transactions. Whereas the batch transaction will be more expensive in fees than a single transaction all because of the transaction size. Also the addresses involves also plays role in it, Segwit address most especially Native Segwit (address with bc1q as prefixes) mostly save fees when sending to multiple addresses while taproot saves more fees when receiving on one address from multiple addresses (like consolidation of UTXOs).

Also I see that this thread covers only for two wallets there is an existing thread for electrum that explains pay to many feature but it’s restricted to only the desktop Version and not yet on mobile wallet version,

Also be aware next on any of your own address you can add the ! Character for all the balances to be return there as change, i don’t know if this command works for also other wallets too

[Chinesebaby]

Wow.. this is quite an informative thread you just created above at O.P, because ever since I got new into Bitcoin and noticed that multiple transactions can be made at once, I never knew which wallets offered such features, and I'm glad to know that "Sparrow" and "Blue Wallet" offers such, and I can't wait to give it a try anytime soon when I intend to share a few Bitcoin into family and friends. So once again, thanks for sharing this informative thread.

[Cookdata]

Also be aware next on any of your own address you can add the ! Character for all the balances to be return there as change, i don’t know if this command works for also other wallets too

These are magic words in Electrum: !, ?, :, and -. They work only on electrum as command.

[BlackBoss_]

Each transaction has a base cost and when you send five seperate transactions you pay the base cost 5 times. But with batching, you only pay it once.
 So how do you batch??

Consolidate many UTXOs into one UTXO in one address is consolidation. It saves transaction fee in your future transactions as your future transaction size will be smaller than without prepared consolidation.

Batching transactions into one is different:
It's like you use one UXTO (but surely can use some UXTOs) as input for only one transaction to different receiving addresses, including your own change address.

[nc50lc]

Also be aware next on any of your own address you can add the ! Character for all the balances to be return there as change, i don’t know if this command works for also other wallets too

For Electrum's "pay-to-many" feature, it will also work. (click "Pay to" to see how)
"!" is accepted as a value when indicating a custom change address in the Desktop UI's send tab. (Android currently not supported)
If not set, Electrum will automatically select the next unused change address of the wallet.

While we're at it, since it's related to the OP's goal of batching transactions;
Electrum also has a "batching" feature that allows the user to utilize RBF to merge their still unconfirmed transaction(s) with the one that's being created.
Useful if the user didn't expect that he has to send another transaction but wants to batch it with his previous unconfirmed transaction to save fees.

This should show in the lower-left side of transaction preview (v4.6.2+):
For older versions, the user can't pick which unconformed txns to merge with "->batch unconfirmed transactions" option.

[Cookdata]

Each transaction has a base cost and when you send five seperate transactions you pay the base cost 5 times. But with batching, you only pay it once.
 So how do you batch??

Consolidate many UTXOs into one UTXO in one address is consolidation. It saves transaction fee in your future transactions as your future transaction size will be smaller than without prepared consolidation.

Batching transactions into one is different:
It's like you use one UXTO (but surely can use some UXTOs) as input for only one transaction to different receiving addresses, including your own change address.

I didn't see anywhere in the description where OP says consolidation. He literally said paying for each transaction has a base fee, instead of paying multiples times, it's better to save cost of fee with batch transaction but you decided to introduced 'consolidation'.

If you are looking at his screenshot where he included consolidation in the label of the transaction, then that's nothing. Probably, he is trying to use the word to identify the involved wallets addresses and the transaction for future reuse and his privacy.

[Charles-Tim]

@casey15
You can send to many on Electrum just as nc50lc posted already. On the space that you will input the address, you will see the spanner and screwdriver icon that crossed, click on it and check (✔️) pay-to-many.



Separate the first address and the second address with a comma (, ) and press enter and so on.

Like this as an example
Address, amount

Code:

bc1qr6lkh806zw2ckafv2dg8l7cswl4rhxgsx2pe8v, 0.1
bc1qv7rjhnv0unt6ma083dvlyhd96eaz4ys5yqc8c0, 0.3

[Kasabus]

Thanks for the tutorial, OP. I know it’s possible, and I’m actually an Electrum user myself.
I’m aware it can be done, I just haven’t personally tried it yet.

This is really helpful though, especially based on what I’ve been seeing on the forum with people who are aspiring to become signature campaign managers and will be doing similar things on a weekly basis. cool tut 

[satscraper]

On Sparrow (for desktop)

I wonder whether batching can be combined with the “fake conjoin” technique Sparrow uses to mimic independent destinations. If it can, and if 3^rd party destination addresses can be added to the fake conjoin set, it would act as a kind of red herring that boosts privacy while also saving money on transaction fees. Sure, fees are low right now, but every satoshi matters.