Japan-Bitcoin-Mt Gox

Bitcoin tokens, seen in a file photo.

(Rick Bowmer | AP Photo)

Syracuse, N.Y. — Want to avoid using a credit card for holiday shopping in the face of retail data breaches?

The digital currency bitcoin is one alternative and Cyber Monday seems like a good excuse to take a look at it. The currency was created in 2009 by someone using an online alias, according to CNN Money.

Bitcoins cut out financial middle men like banks and credit card companies - meaning no transaction fees. And with appropriate steps, transactions using the currency can remain quite private and secure, according to Bitcoin.org, a site run by bitcoin developers and community members.

Bitcoins exist in a digital wallet stored in the cloud or on a user's computer, according to CNN. They've attracted attention as the payment of choice in some of the Web's darker corners, but mainstream companies like Kmart, Sears, Amazon, Home Depot, CVS and others are starting to accept them, according to Forbes.

A word of warning: Bitcoins are still an experimental currency and their value is subject to dramatic swings, according to Bitcoin.org. The site advises against storing your life savings in the currency.

Bitcoins are also unregulated, for the moment, and transactions are irreversible. Payments can be refunded, but only by the payee, according to Bitcoin.org.

And while the currency has drawn attention for its perceived anonymity, some steps are still required to make sure your finances remain safe and secure.

That said, here's a crash course in getting started with bitcoins, courtesy of Bitcoin.org:

Get yourself a digital wallet.

Get bitcoins.

Spend away.

Too much? You can certainly reduce your risk by following some common-sense tips from security pros. You could also use a digital payment service like PayPal.

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