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How to make money mining bitcoin and other cryptocurrencies without knowing anything about it

Business Insider | Feb 11, 2018, 07.30PM IST

FILE PHOTO - Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration

Thomson Reuters

FILE PHOTO - Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture

Cryptocurrency mining isn't for everyone, and it might seem daunting even if you are interested.

You might think you need an extreme know-how of computers to do any kind of crypto mining, that it couldn't possibly be done by the average person.

Turns out, it's absurdly easy. 

You just need computer parts that are powerful enough to make mining profitable, and a handy piece of software called Nicehash. You literally press a green button on Nicehash to start mining. 

I've been experimenting with crypto mining on Nicehash myself, and it's been a fun little project. I'm not raking in a huge amount of cash, as my mining rig is small enough that it's more like looking for change on a sidewalk. Bigger mining organizations have warehouses full of powerful computer parts that can generate a ton of cryptocurrencies.

And at the end of the day, I'd only really suggest it if you already have a gaming PC with an appropriately powerful graphics card - the key component for mining. And you need to make sure your electricity costs aren't too high, as mining can suck up a ton of energy.

Check out how to get started in mining:

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The Bitcoin 101 Report by the BI Intelligence Research Team.
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