# Bitcoin Vaults

Vaults on UTXO blockchains like Bitcoin work differently from how they work on account-based blockchains.

Features of Bitcoin vaults:

- Bitcoin vaults have only one chain (Bitcoin) and one asset (BTC).
- Each vault can have many addresses. There are three address types:
  - SegWit (Bech32) address format - this is the default address format when creating new addresses
  - Legacy address format
  - Taproot address format
- There is one address in the vault, which is considered the “default” address. In case of a Vault1-to-Vault2 transaction, the receiving address in Vault2 is the default address. The change of a transaction is always sent to the vault's default address.
- You can assign a name to an address -- this is useful for off-chain tagging of addresses.


## Single Bitcoin vaults

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The top-left panel displays:

- Name of the vault
- Date of creation
- Group to which the vault belongs
- Vault's default blockchain address
- Total vault balance


Buttons on the upper right let you:

- [Send transfers and deposits](/user-guide/send-transfers-and-deposits-from-a-vault)
- [Download a snapshot](/user-guide/vaults#download-a-vault-snapshot) of the vault


## Addresses

The panel at the bottom of the screen displays details of the addresses associated with the vault and lets you generate additional addresses.

## Latest transactions

This panel displays summary details of the latest transactions that were sent from the vault.

- Click any transaction to see its details.
- Click **View all transactions** at the top of the panel to jump to the [Transactions page](/user-guide/manage-transactions/transactions-console).