Here's my situation : I've been playing acoustic/electric guitar for about 2 years now, still LOVING it.

Lately I've been quite tempted by bass, witch I don't know anything about !

What should I know about bass and what I should be looking for gear wise ?

How do bass works ? Are there effects and stuff like that ?

I don't even know where to start looking
Get something simple to start with.,and check out "bass guitar for dummies"
Luna Andromeda dragon bass
Schecter Omen Extreme
Fender strat
Fender Labrea electic/acoustic
Peavey tour 450
Peavey tour 410/115
Galien-kruger Backline 600
Black Heart BH15h
Gibson Les Paul gold top (Knock off)
Bass has everything a guitar does. Don't think it's easier than guitar, it's practically the same. Maybe harder, because writing a good bass line is harder than a power-chord metal riff.
Look for Squier models of the "Vintage Modern" and "Classic Vibe" series. Amp-wise, you can't go wrong with a used Peavey.
Effects aren't really necessary, but get them if you want. They're out there.
Look at your local Music-go-round, if you have one. Find a cheap bass and amp you like, then haggle like hell. I bet you could end up with a full set-up for $150-$200.