There are several ways to do Bitcoin and Altcoin mining (altcoins being other coins such as Litracoin). The first is setting your own rigs up and getting things setup at home.
It will involve getting a bit of an understanding of what your mining is doing and what coins work on it, which is best, what is the power consumption and how long it will take to get your return on investment. Along with competing against becoming obsolete and larger mining setups.
What has become popular in recent years is investing in other people’s platforms that are already doing this on a large scale. Adding Solar, Hydro and other renewable energy supplies to help reduce the mining costs.
These large collection of miners and ever expanding centers allow you to invest at a small amount and take a share in the profits. Genesis Mining offer one of these setups and it works by you choosing which coins you want to mine. Then you simply setup a wallet to receive the mined coins. In the same way you can reinvest to boost your mining power as well.
You can sign up at Genesis-Mining by using the link. But also if you use the code below you will get a 3% discount off your first investment.
Does it payout? It normally takes around 4 months to get your return on investment and then the rest is profit. But all depends on the mining difficulty at the time.
I also use HashFlare which is also paying out daily. In a similar way you can reinvest and right now there is a halloween special code.
If you click on HashFlare it will take you to the website to sign up. Then just put the code in when going to the payment page.