How can I earn an income from my bitcoins without revealing my identity or relinquishing control of my bitcoins? I have some Bitcoin. I don't want to part with them, but I need an income.
I'm trying to have it so that, somehow, my Bitcoins generate a small sum monthly in fiat, to my bank account.
While going through a list of &quot;Bitcoin loan&quot; sites, it seems that all require me to deposit the coins into their custody. I do not trust a company to hold my coins. I'm worried about exit scams or being locked out. Anything that requires KYC/AML is a no-go for me, as services have closed accounts on me before without explanation.
Is there a way to generate an income from bitcoins without giving up control? Can I earn a monthly fiat just because I own them? Or will any such offering require me to part with my coins? I just can't do that to my satoshis, or to myself.
Bitcoins are a non-productive asset. Lending services earn revenue, because they lend out the coins they borrowed from you to someone else. They connect lenders and borrowers, take most of the risk and a cut. There is some risk involved, which is why there is revenue to be earned in the first place. Without you handing the coins into the service's custody as collateral, it's unclear how the service would make any money, so they would not have any reason to pay you. More traditional forms of credit usually require you to provide your identity and a list of your assets as collateral.
Unfortunately, there is no such thing as a free lunch. Nobody is going to give you something without you either providing value or taking a risk.