The backbone of cryptocurrency is blockchain, and it takes many computers working in parallel to create a secure, working cryptocurrency. Behind many of the most popular currencies, including Bitcoin and Litecoin, is an algorithm called proof of work (PoW). Under proof of work, computers around the world called miners compete against each other to solve complex equations. The winner can verify the next block of transactions and earns a reward.

If you have a spare computer at home, you can turn it into a miner. This requires a special hardware device, technical skills, and knowledge. You just need some time to download, install, and configure your mining software. These days, most solo miners struggle to earn a reward as they compete against huge networks of computers and professional mining operations. However, if you win the race and earn the block reward, it could be worth thousands of dollars.