If you want to transfer text or image between host and guest (or vice versa), the simplest way is good old copy and paste.
Fortunately, Virtualbox already has a feature that allows us to do so. To enable it, first you need to install the Virtual Box Guest Additions.
On your guest machine, go to the top menu and choose **Devices** and then **Insert Guest Additions CD Image...**.
Installing guest additions, however, isn't enough to enable copy and paste. You now need to enable it in the virtual machine settings.
Select your machine in Virtualbox, then click on **Settings**. On the settings window, click on the **General** menu and then **Advanced**. What you are looking for is **Shared Clipboard**.
Even though copy and paste is fantastic, currently it doesn't work for files. To be able to move files between your host and guest machines you can enable **Drag'n'Drop** on the same tab. It works like charm in my linux system.