I get your point. The app does ask for quite a lot. I believe they do this mostly so that they can share your music when you post it. Which helps you in a way and of course it also helps the platform itself. What do you mean by update account permissions? I personally don't have a verified twitter account (or at least have not used it).
It is possible to signup without using the social sign up (signing up as a listener is the same as signing up as a muscian) but it will significantly slow down the verification process.
Thank you for the support :)
RE: Making extra money with the same music: Registering to Musicoin explained (Tutorial)