# What is a Spending account in Redacted?

A Spending account is your personal private account in Redacted: a smart-contract account with no visible tie to your public wallet, from which you trade, swap, stake, lend and borrow on Rujira.

Also called Spending or private account.

## How it works

You move money into it from the Reserve with one click and one proof, and your wallet signs nothing. Moving between the Reserve and Spending is free, and your own money comes back from Spending at once.

Each Spending account is a minimal smart-contract account with a single master: the Reserve, acting on your proofs. It runs only trades, swaps, stakes and THORChain deposits, and its code can’t be changed afterwards.

## What is public and what is private

- Public: what the account does on Rujira, like any other account.
- Private: that the account belongs to you. It is a fresh identity with no connection to your public wallet.
- Anyone can send coins to its address. With the node network, that money waits like a new deposit when it moves into the Reserve.

## Coins from other chains

Bitcoin, Ether and other coins from other chains sit in your private balance as THORChain secured assets, so a swap between coins of different chains settles inside THORChain and the result lands in your Spending account.

## Status

Spending works today. Direct payouts from Spending to another chain are switched off at launch, so for now you withdraw to a THORChain address, ideally a fresh one, and send the coins home from there.

More: [Reserve and Spending](https://redacted.gg/docs/using-redacted/how-it-works.md)

## Related terms

- [The Reserve](https://redacted.gg/glossary/reserve.md): The Reserve is the shared space where every Redacted user’s deposits live together as sealed notes. From the outside all notes look alike, so an action from the Reserve could have come from anyone who has the same coin in it.
- [Note](https://redacted.gg/glossary/note.md): A note is a sealed entry on-chain that records coins in Redacted’s Reserve and that only your keys can open. From the outside all notes look alike, whoever owns them and whatever they hold.
- [Secured assets](https://redacted.gg/glossary/secured-assets.md): Secured assets are native coins deposited into THORChain’s vaults and held one to one on THORChain, such as BTC-BTC for Bitcoin. Apps use them for trading, lending and more, and they can be withdrawn back to their home chain as the real coin.
- [Orderbook](https://redacted.gg/glossary/orderbook.md): An orderbook lists every open order to buy or sell at a set price. A limit order waits on the book until the market reaches its price, instead of trading at whatever the price is right now.
- [Money market](https://redacted.gg/glossary/money-market.md): A money market lets people lend coins to earn interest and lets others borrow them against collateral, with rates that rise as more of a coin is borrowed.
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Page: https://redacted.gg/glossary/spending-account/