# PSBT: passing a Bitcoin transaction between signers A PSBT is a structured container for a Bitcoin transaction and the extra information needed to inspect, sign and finalize it. It lets wallets, hardware signers and participants exchange a proposal without requiring one device to perform every step. A PSBT is not necessarily signed, broadcast or confirmed. Evidence: [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki); [walletcreatefundedpsbt RPC](https://bitcoincore.org/en/doc/29.0.0/rpc/wallet/walletcreatefundedpsbt/) Canonical: https://degreesofsatoshi.com/encyclopedia/partially-signed-bitcoin-transactions/ Published: 2026-10-02 Substantively modified: 2026-10-02 Independently verified by an automated reviewer: 2026-10-02T18:15:23.891Z Data current through: 2026-10-02 AI-assisted research and drafting with a separate automated source-verification pass; no external expert or named human review is implied. ## Key facts - **Roles:** BIP-174 separates creator, updater, signer, combiner, finalizer and extractor roles. ([Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki)) - **Information:** The container can include previous-output and key-derivation information needed for signing. ([Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki)) - **Completion:** An extracted transaction is distinct from the container exchanged during signing. ([Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki)) ## Separate construction from authorization A network-connected wallet can choose inputs and construct recipient and change outputs. A separate device can inspect that proposal and add a signature without taking responsibility for discovering the entire transaction history itself. The Bitcoin Core funding RPC creates a PSBT with funding information. A creator or updater role does not imply that the file contains the signatures needed to spend. Evidence: [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki); [walletcreatefundedpsbt RPC](https://bitcoincore.org/en/doc/29.0.0/rpc/wallet/walletcreatefundedpsbt/) ## The proposal still needs checking A signer should establish which inputs it is authorizing, the destination amounts and the fee. Input values and scripts matter because an incomplete or misleading display can obscure what the signer is doing. The format transports information; it does not make that information automatically trustworthy. A transaction proposal shared with another participant may reveal balances, addresses or derivation details. Treat the file as potentially sensitive even if it contains no private keys. Evidence: [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki) ## From partial data to a network transaction A combiner can merge compatible signing information, a finalizer can assemble the final spending fields, and an extractor can produce the network transaction when it is complete. Some wallets combine these roles in one interface. After extraction, broadcast and confirmation are separate steps. An offline signing screen cannot prove that a miner has included the result. Evidence: [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki) ## Questions ### Can a PSBT contain no signatures at all? Yes. The format supports transaction construction and updating before any signer has authorized the spend. “Partially signed” is the format’s name, not a promise that a signature is present. Evidence: [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki) ## Claims and scope ### partially-signed-bitcoin-transactions-quick-answer A PSBT is a structured container for a Bitcoin transaction and the extra information needed to inspect, sign and finalize it. It lets wallets, hardware signers and participants exchange a proposal without requiring one device to perform every step. A PSBT is not necessarily signed, broadcast or confirmed. Scope: {"collection":"bitcoin","dataAsOf":"2026-10-02","blockHeight":null} ### partially-signed-bitcoin-transactions-fact-roles Roles: BIP-174 separates creator, updater, signer, combiner, finalizer and extractor roles. Scope: {"collection":"bitcoin","dataAsOf":"2026-10-02","blockHeight":null} ### partially-signed-bitcoin-transactions-fact-information Information: The container can include previous-output and key-derivation information needed for signing. Scope: {"collection":"bitcoin","dataAsOf":"2026-10-02","blockHeight":null} ### partially-signed-bitcoin-transactions-fact-completion Completion: An extracted transaction is distinct from the container exchanged during signing. Scope: {"collection":"bitcoin","dataAsOf":"2026-10-02","blockHeight":null} ## Sources - [Partially Signed Bitcoin Transaction Format](https://raw.githubusercontent.com/bitcoin/bips/927b6de9915c9262615a6399de51b200f81e5aa4/bip-0174.mediawiki) — Bitcoin BIPs contributors. Exchange of transaction and signing data across participants. Locator: Roles; Creator; Updater; Signer; Finalizer. Retrieved: 2026-10-02T17:22:20.522Z. - [walletcreatefundedpsbt RPC](https://bitcoincore.org/en/doc/29.0.0/rpc/wallet/walletcreatefundedpsbt/) — Bitcoin Core. Input selection, fee units, change output, selected inputs and transaction funding. Locator: Arguments and result fields. Retrieved: 2026-10-02T17:03:40.827Z. ## Revision history - 2026-10-02: Initial Bitcoin encyclopedia entry at this permanent URL. - 2026-10-02: Added reusable claims, explicit source locators, and matching Markdown and JSON. This publishing change does not itself establish factual verification. ## Cite this entry Degrees of Satoshi editorial project. “PSBT: passing a Bitcoin transaction between signers.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/partially-signed-bitcoin-transactions/