In a bull market, making significant profits, you might want to withdraw some earnings to spend but are afraid of accidentally encountering dirty money, resulting in your bank card being frozen or even getting into legal trouble? Just thinking about such experiences is frightening; no one wants to go through that again. So how can you safely and legally withdraw money? Below, I’ll discuss several methods that are both legal and relatively safe for withdrawals.
First strategy: licensed crypto exchanges in Hong Kong + brokerage channels.
Hong Kong is an international financial hub, with many crypto asset exchanges regulated by the Securities and Futures Commission. On these platforms, you can exchange USDT for digital currencies like BTC, ETH, or convert it directly into Hong Kong dollars or US dollars, and then transfer it to a bank account in Hong Kong. This route is very legitimate, with clear fund flows and low risks.
Benefits:
Very legitimate, not afraid of dirty money knocking on the door, and fund safety is guaranteed.
Funds arrive quickly; you can use them whenever you want without any delay.
Drawbacks:
It can be a bit difficult for friends from the mainland to open accounts; they might need to ask relatives or friends in Hong Kong for help.
If it's a small withdrawal, you might still need to make a trip to Hong Kong, which can be a hassle.
Second strategy: OTC services from top exchanges.
Large exchanges like Binance offer OTC services, making it particularly convenient to sell USDT. However, convenience comes with risks. If you encounter dirty money, your bank card might get frozen, and you won't be able to withdraw your funds.
When choosing trading counterparts, keep your eyes wide open and select those with good reputations and clean trading records.
Don't be fooled by flashy advertisements; stay alert at all times.
Third strategy: U card exchanges.
U cards, such as MasterCard and UnionPay cards, are also a good choice for exchanging for crypto assets. Some U cards can be linked to WeChat, which is particularly convenient. However, it’s important to note that some U card service providers are reliable, while others are not.
Risk reminder:
Be cautious when choosing service providers to avoid being scammed by unreliable ones.
You also need to keep an eye on the service provider's policies; if funds get frozen one day, it can become quite troublesome.
Fourth strategy: U merchant transactions.
This is somewhat similar to OTC trading, and the risks are quite high. Issues like dirty money transactions and frozen funds occasionally pop up, causing headaches.
Those claims of 'frozen card guarantees' and 'frozen card compensation' should just be taken with a grain of salt; don’t take them seriously.
You still need to find reliable partners to reduce risks.
Fifth strategy: offline exchanges in Hong Kong.
In Hong Kong, some physical stores also provide U currency exchange services, particularly suitable for small withdrawals. These stores have low requirements for small transactions and do not require too much information to be registered, with low fees.
Benefits:
It's very convenient, and the fees are not high, making it suitable for small withdrawals.
Risks:
When choosing a store, be careful not to enter a black shop. Look for those that have stable operations and have been running for many years, as the risks will be much lower.
Although there are many legal withdrawal methods available in the market, none are completely risk-free. Therefore, before making a decision, carefully consider the risks and benefits of various channels. Don’t follow the crowd or rush to make a decision. Take your time to ensure your money is safe.
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