Nice additions tyrelsouza and bigpresh. There is a lot more possible to configure. This tip was intended for people like whiskybae. People who know how to read the manual, but didn't know why they should read the manual.
@letskiy. Yes, what you suggest is also possible, but the method described in the tip doesn't change system files. It's only a file in your home directory. Second thing, this method also works with scp. You can do scp aliasname:/home/username/file ./ to download a file to your directory, which is not possible with your bash alias.