How do you use BTC to generate passive income like ERC20 tokens?

[ethereumhunter]

ETH and other ERC20 tokens can generate passive income by yield farming, staking, lending without losing their custodial.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others. 

The only way you generate passive income with bitcoin is by lending your bitcoin in exchange. You can check on poloniex to find out more, but the rate will follow with the price, and I think that can be your way to make more money. You can check binance too because I heard that in binance, you could do almost the same in the poloniex. I don't know if there is a website that you can use for staking your bitcoin amount, but you can search by yourself.

TBH I don't trust my money on Poloniex for longer term because it one of the exchange faced major bitcoin hack in the history and in the recent as well they got hacked so you need to be very careful even if you are going to use it for very short term.Blockfolio seems the only legit platforms offers staking bitcoin.

But in reality we no need to stake them just hold it and make profits later.

You don't have to try to use Poloniex if you don't trust those exchanges because no one will force you to do the same thing. We should think to decide which we want to do with our money because we will be responsible and manage our money. Maybe you can find out the other way, and I see that you think that Blockfolio is a legit platform to stake bitcoin.

I only advise if you want to stake your bitcoin, maybe you can try with freebitco.in because you can get a nice reward if you deposit some amount.

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[Shasha80]

There are many ways to get passive income from Bitcoin, including lending our Bitcoin, investing in online casinos,
and staking coins. But we have to be careful in choosing the platforms we use to get passive income, choose popular
platforms and get good reviews. Because choosing the wrong platforms can cause us to become victims of fraud and
lose all the Bitcoin we have.

[OroroMunroe]

As many here have mentioned, right now there is no way to do this permisionlessly or without going through KYC. That is going to change in about ten days when Sovryn launches:
https://sovryn.app/

Sovryn is non-custodial. Sovryn is built on Bitcoin Layer2 and provides for Bitcoin lending to earn yield, borrowing and also trading and margin trading.
You can sign up on the website to be informed for early access. And of course, you don't even need to provide your name BTC

[Eureka_07]

<snip>

Bitcoin can't generate passive income, you need to work for your income LOL, those thing that you've mentioned above are also some risk of work. Don't think that everything that you can imagine is achievable, this passive generation of income isn't true.

Put down your high hopes and dreams. And on ERC20s made from Ethereum they can't also give you passive income, some of the ERC20 tokens that have been staked lost their value, so definitely it's not a profit. Yes you got more tokens but the value is much lower than the time you started staking them.

[Rexler]

AFAIK, There is no passive income opportunity for bitcoin like we see on other blockchains and platform.  The closest thing to participating in passive income with btc is buying changing it to a stable coin and using it on sites like Binance Savings/Lending or crypto.com. Also checkout necoor blockfi but you might lose some custody.

[EMV]

I have read a lot of information about how to earn bitcoin. Unfortunately, I have not yet found information where you can invest your bitcoin without great risks. Of course, there are ways, but they are very risky. The only thing is to trade on the stock exchange, but this is also a risk, and you need to constantly learn. Unfortunately, you will not be able to receive passive income at the moment.

[ilovealtcoins]

To earn passive income Bitcoin can be done in many ways. Saving is possible on centralized exchange platforms like Binance or Huobi. You can join DEFI with Bitcoin, many DEFI platforms allow staking WBTC (BTC encapsulation based on ERC20 tokens) and receive interest, where you can sell them and buy more BTC.
Currently, scam DEFI projects are taking place on a large scale, so please only participate in reputable projects.

[Taskford]

Depends on what type of person you are in this industry since if you can build a business which can help people interms of their daily usage then provably you can earn with that passively, but if you just rely on service earnings or tradings then there's no way to have a passive income since all of this is totally a gamble.

You can join DEFI with Bitcoin, many DEFI platforms allow staking WBTC (BTC encapsulation based on ERC20 tokens) and receive interest, where you can sell them and buy more BTC.
Currently, scam DEFI projects are taking place on a large scale, so please only participate in reputable projects.

Defi's still no guarantee since some of them are still the same with the other who are undergoes with pump and dump scheme and also turns scam so its really hard to get a passive income with this but we can get a good fortune on it if we research some vital details regarding on the team behind on which exchange would possible it landed since top tier is one of the best reminder that they will got a good future or atleast it can give us a profit for buying them.