Elastic is currently a proof of stake currency. Blocks cannot be mined but are forged, like Nxt, with any transaction fees going to forger. Once the network is fully functional you will also be able to effectively lease your computer power out for financial reward.
The best way to mine cryptocurrency is to join a mining pool. ElasticFaucet.info recommends MinerGate as they have low fees and a easy to use software solution which can mine multiple cryptocurrencies at once. No computer or industry knowledge is needed, just download the software, click the 'AutoMine' button and MinerGate will starting mining the coin that has been the most profitable over the previous hour!
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If you want to turn your coin hoard directly into cash or are just looking to make cash off cryptocurrency trading, ElasticFaucet.info recommends Changelly as they have low fees and a simple, clean trading interface. They have loads of cryptocurrencies available to trade - it couldn't be easier to start trading like a pro!