How do I set up email on a self-hosted WordPress install?

It is day 1 of my WordPress development journey. I have installed the Bitnami WordPress Multisite virtual appliance running in Virtual Box. I have tested it and it all runs fine.

But. There is no email capability.

What is WPMU's recommended way of setting up email?

I have just joined WPMUDev and I want to use your plug-ins including

* BuddyPress
* Newletter

Kind regards,
James