It is not that hard as other bank transactions that you make every day. Understanding but coin wallet and the network make the process simpler. Always ensure the right amount of digital money gets to the recipient.
Bit coins looks like a record of coin. You can visualize it with the help of ledger on your bank. They are maintained through ledger on the bank statement. They are registered as transactions. Understand transaction input, output and the money.
Transaction input
They are nothing but the bit coin address, which refers the address to which the money is sent. They are processes by the user. For instance, if you transfer money from your account to other account, they are usually termed as address. The user account is transaction input. btc to inr are easy than other transactions
Transaction output
The money transferred to the other address is termed as transaction output. They are under your control. The address that they sent from someone else will notify the user and register on block chain. The network captures each click that you use. Your wallet is activated when you make every transaction. When that person then sends those bit coins to someone else, their address will, in turn, become the transaction input, and that other person’s bit coin address will be the transaction output. Using this system, people can trace bit coin transactions all the way through to when the bit coin was first created, understanding who sent it to whom, at any point in time. This creates a completely transparent system in which all transactions can be checked at any time.