1. U-commerce chaos, be cautious when withdrawing funds
I have read countless tutorials on how to withdraw funds safely, but none of them got to the point. Most investors basically follow what the big guys say and do what they want, which leads to them being exploited by U-merchants. Some even charge a 20% service fee to prevent investors from being exploited due to information asymmetry.
1. Beware of fake MasterCard U cards and VISA cards
The Internet is flooded with fake cards sold in the name of MasterCard and VISA, misleading investors into believing that these cards are directly issued by these two companies.
In fact, some cards are just issued by small overseas banks, and may even be processed using someone else's passport. There are extremely high risks, such as high handling fees and the possibility of bank bankruptcy at any time.
2. The trap of buying U at different prices
Whether it is 20% lower than the market price, or a price far higher than the exchange's "discount", it may be a bait for black money. Investors should not be fooled by superficial benefits.
3. Risks of OTC Cash Transactions
Over-the-counter cash transactions are often associated with illegal funds. Don’t be fooled by the illusion that “cash is clean.” In movies and in real life, cash transactions are often a means of circulating illegal funds.
2. Analysis of the reasons why USDT sales lead to card freezing
Before discussing how to withdraw funds safely, we need to understand why card freezing occurs.
1. Bank freeze
The reasons for bank freezing may include: transfer notes involving virtual currency triggering risk control, frequent transfers and abnormal transaction habits triggering bank risk control, risk control being strengthened due to card cutting operations, and large amounts of funds suddenly flowing into an account that has not been used for a long time.
2. Judicial freeze
If a bank card receives funds from illegal activities such as online fraud or online gambling, it will be frozen by the court. A short-term freeze may be automatically unfrozen, while a long-term freeze will not be unfrozen until the case is closed.
3. How to achieve safe withdrawal
The source and flow of each fund are unique, and truly safe funds often come from formal channels. So, how can we achieve safe withdrawal?
1. Abandon ineffective online methods
Methods such as repaying loans or investing immediately after withdrawing funds, or using multiple cards to withdraw funds in small batches, cannot truly reduce the risk of card freezing.
2. Follow the principle of safe withdrawal
The principle of safe withdrawal is to reduce the number of transactions and choose compliant trading parties. Depending on the level of risk, we recommend the following two methods:
Exchange C2C: Choose a reputable C2C merchant and communicate in advance about frozen card compensation and other matters to ensure transaction security.
Apply for a foreign currency card: Go to a bank in Hong Kong or other places to apply for a foreign currency card that supports US dollars, and then convert it through the USDT-USD-CNY method. It should be noted that these two companies are settlement companies and cannot directly issue bank cards.
Let me tell you another unpopular method suitable for withdrawing a small amount of funds (3,000 to 5,000). Apply for a virtual credit card, such as dupay, which supports USDT recharge, and then use the virtual credit card to recharge Octopus (this is a Hong Kong public transportation card). After recharging, choose to refund. When refunding, you can fill in your personal mainland bank account. Octopus will transfer the money to your mainland card within a few trading days. The whole process is carried out according to the real-time exchange rate. The disadvantage is that the amount is small.
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