Quote from: BitRabbit_Official on January 03, 2020, 04:00:36 AM

We all have our own bank accounts in life, and transfers are made between bank accounts. Similarly, Bitcoin transfer is the process of transferring Bitcoin from one Bitcoin address to another.

If you want to transfer bitcoins to others, you need to enter your bitcoin address, recipient address, transfer amount, and commission amount in the bitcoin trading platform, bitcoin wallet, or bitcoin client.

After the payment is confirmed, the transaction information will be broadcasted on the entire Bitcoin network after payment. Miners will pack unaccounted transactions in the Bitcoin network into a block every 10 minutes, which completes a confirmation, Bitcoin has been transferred to the other party's account at the time.

It usually takes 6 confirmations to ensure that the transaction records cannot be tampered with by anyone before the transfer is truly completed.

Blockchain ledger is nearly impossible to edit and bitcoin transaction can not be canceled. It is advisable to check, re-check and triple check the recipient address code before initiating the transaction because not only that the transaction can not be canceled but also can not be refunded.
The address code is also known as the public key while the private is the key to access the wallet just like password, the private should be known only to the owner of the wallet and should be safe in place where no one can access but the owner alone.