Change Address

Change address just as the name suggested is used in cryptocurrency to temporarily store the change of a transaction before it gets returned to the sender’s address. The concept is similar to that of fiat money. So, in case the sender adds more funds than the transaction required, the excess is returned to a change wallet before getting refunded.

Change addresses play a crucial role in the entire blockchain. With each transaction, change addresses are often used. This is how users can send exact amounts to other wallets or buy NFTs for that matter. Searching for the details of any transaction, allows users to view their change address.