Earn Bitcoin in the USA: Staking, Lending & Taxes

In the United States, most exchange "earn" programs shut down or shrank after the 2022 collapses of large crypto lenders and the regulatory action that followed. Earning from your own self-custody wallet is a different model: no company holds your coins, and nobody can freeze them.

That's how Virtex Wallet works in the US: non-custodial only. Stake SOL, ETH, TRX or BNB, or lend USDC and USDT, from your own keys, then swap rewards into Bitcoin. Your BTC is never lent out, because Bitcoin can't be staked and Virtex doesn't offer BTC lending.

At a glance

Earning crypto in USA: key facts

Staking rewards	Taxed as ordinary income at fair market value when you gain control of them (IRS Revenue Ruling 2023-14)
Swaps and sales	Crypto-to-crypto swaps are taxable disposals; holding over a year qualifies for long-term capital gains rates
Broker reporting	Custodial brokers issue Form 1099-DA for transactions from 2025; self-custody wallets don't
Staking and securities law	In 2025 SEC staff said protocol staking generally isn't a securities transaction (staff guidance, not law)
Virtex Wallet modes	Non-custodial only. Custodial mode isn't available in the United States

Ways to earn

How Americans earn Bitcoin with Virtex Wallet

Lend USDC, buy BTC with the interest

Earn interest paid by borrowers on dollar stablecoins, then swap it into Bitcoin. Because USDC stays near $1, converting interest creates little extra capital gain. See non-custodial lending.

Stake SOL or ETH from your own keys

Rewards are income when received; converting them to BTC later is a separate taxable swap. Start with how to stake crypto.

Self-custody your Bitcoin

Many Americans who "earned" on their BTC with failed lenders in 2022 waited years for partial repayment. Keeping BTC under your own keys avoids that risk.

Rules & tax

Rules and tax in the USA

Staking rewards are income on receipt

Under IRS Revenue Ruling 2023-14, staking rewards count as ordinary income at their US dollar value on the date you gain control of them. That value becomes your cost basis. When you later sell or swap those coins, the difference is a capital gain or loss. Lending interest is also ordinary income.

Swapping rewards into BTC is a taxable event

Every crypto-to-crypto swap counts as selling one asset and buying another. If you swap staked SOL rewards into BTC and SOL's price has moved since you received them, you have a gain or loss to report. Stablecoin interest is simpler: USDC received at about $1 and swapped at about $1 leaves almost no gain.

Forms you will and won't get

Custodial brokers and exchanges issue Form 1099-DA, reporting gross proceeds from 2025 and cost basis for many assets from 2026. A non-custodial wallet like Virtex in non-custodial mode isn't your broker and won't send a 1099. You still have to report income and gains, so export or record each reward and swap.

What changed after 2022

Large custodial lenders that paid interest on deposited crypto failed in 2022, and regulators took action against several "earn" products offered to US customers. In 2025, SEC staff published a statement that protocol staking, where users stake their own coins on a network, generally doesn't involve offering securities. That view covers staking you do yourself, not every product with "staking" in its name.

Stablecoins and the GENIUS Act

The GENIUS Act, signed in July 2025, sets federal rules for payment stablecoin issuers, including reserve requirements, and stops issuers paying interest to holders directly. Interest from lending comes from borrowers, not the issuer, which is why lending is how you earn on USDC and USDT.

Talk to a tax professional. This summary reflects federal rules as of October 2026. State taxes and your own situation can change the result. Staking rewards and lending rates are estimates, never guaranteed. This page is general information, not financial advice.

Calculator

Estimate what you could earn and stack into BTC

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Amount (in coins)

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Estimate only. Typical ranges are rough market figures that change with network conditions, validator commission and lending demand. They are not a rate offered or promised by Virtex. Rewards are paid in the coin you hold, so their dollar value moves with its price. This is not financial advice. Always check the live rate in the app before you confirm.

FAQ

Earning crypto in the USA: questions

Is crypto staking legal in the US?

Yes. Staking your own coins from a self-custody wallet is legal. Regulators have focused on custodial programs where a company takes your coins and pays you a return. In 2025 SEC staff said protocol staking generally isn't a securities transaction.

How are staking rewards taxed in the US?

As ordinary income at their fair market value when you gain control of them, under IRS Revenue Ruling 2023-14. When you later sell or swap the rewards, any change in value from that point is a capital gain or loss.

Will I get a 1099 for staking in Virtex Wallet?

No. In non-custodial mode Virtex isn't your broker and doesn't issue 1099 forms. You still need to report your rewards and any swaps on your tax return, so keep records.

Is swapping my USDC interest into Bitcoin taxable?

A swap is a taxable disposal. Because USDC stays close to $1, the gain is usually tiny. The interest itself is ordinary income when you receive it.

Why isn't custodial mode available in the US?

Virtex doesn't offer custodial staking or lending in the United States. Non-custodial staking and lending work normally, with your coins under your own keys.

Can I earn interest on Bitcoin in the US?

Not natively: Bitcoin has no staking. You can earn on stablecoins or proof-of-stake coins and convert the earnings into BTC. Read how to earn Bitcoin.

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Earn Bitcoin & Crypto in the USA