Guficoin transactions occur by sending Guficoins from one Guficoin wallet to another, encrypting the transfer with the private key (a special secret code) and delaying the transfer until the transaction has been verified. Transactions serve two purposes: firstly, to ensure that users cannot cheat the system by spending the same Guficoins twice (prevention of double-spend attack), and secondly, to generate new Guficoin’s. ReeCoin transfers are carried out in a similar fashion to other forms of digital payment. Receivers have to provide the address of their wallet. Users need to open their wallet either directly at the wallet vendor's website, or using a go-between application set up by the receiver, and initiate the transfer, which is then automatically completed. Typically, there will be a brief delay until the transaction is verified. Guficoin transactions are very straightforward, almost like other digital transactions, involving fiat currency.