Mining for bitcoins is actually the process of verifying other bitcoin transactions, which users are rewarded for. This is the central mechanic behind the bitcoin economy, and mining is used to keep transactions secure and reliable. Bitcoins are stored in digital wallets that are encrypted to protect your money. These wallets can be stored either locally or online. Syncing this blockchain for the first time can take a day or more.
Popular local wallets include BitcoinQT, Armory, and Multibit. Multibit does not require downloading the entire blockchain. You can also get wallet apps for your mobile device. These do not require downloading the entire blockchain. If you lose your wallet, you lose your money! Here is web the Bitcoin mining pool list 1.