Correct withdrawal methods in the cryptocurrency circle!
Recently, I have read hundreds of articles about withdrawal methods online, but very few actually hit the nail on the head.
Many people encounter issues when withdrawing money off-exchange, such as being frozen without a counter, being pressured by unscrupulous currency dealers, or being contaminated by 'pig slaughter' funds. They suffer in silence... These are all caused by ignorance.
The so-called information asymmetry ultimately comes down to not understanding who your trading counterpart is; if possible, request real-name identification.
Throughout the withdrawal process, you need to remember to consider the worst possible outcome you can bear; there is no absolute risk control, and funds may turn dirty afterwards.
Specifically, there are a few points.
1) To ensure safe withdrawals, the card used must be normal.
In simple terms, the following all count as problems:
a. Quick in and out.
b. High-frequency trading outside of working hours.
c. The transaction amount and balance exceed normal proportions.
d. Sudden changes in trading habits.
e. Do not leave a balance in the card.
f. Multiple large transfers with different counterparties consecutively.
g. Unified transfer in, diversified transfer out; diversified transfer in, unified transfer out.
2) Avoid using Alipay, WeChat, and primary bank cards for withdrawals.
Alipay and WeChat, as large acquiring companies, have more big data than various banks. This means their risk control is stricter; once frozen, it significantly affects your daily life.
Do not use your salary, social security, or mortgage card for withdrawals, for the same reasons as above.
When withdrawing, only use specific cards for transactions with the same U dealer; do not mix funds from different merchants.
3) Some debunked methods for preventing card freezes.
Buy bank wealth management products or stocks after withdrawal.
Transfer to an online bank after withdrawal.
Immediately repay the credit card after withdrawal.
Transfer to the brokerage account after withdrawal.
Withdraw from different trading platforms and choose different U dealers to reduce risk.
The above is all nonsense.
The core reason for a frozen card is the unclear information between you and the counterparty. Once you receive dirty money, the entire link gets frozen; as long as it's a card under your name, it's hard to escape.
4) A few tips for withdrawals.
a. For cards that are usually idle, confirm the card's status before receiving money; transferring a small amount out via the bank's mobile app will suffice.
b. When selecting a currency dealer for withdrawals, if you see an inverted market price (buy price higher than sell price), it is definitely a black U or transfer scam. Don't be greedy for cheap.
c. Ensure that the other party uses their own bank card; if the transfer is from a non-personal bank card, immediately return it along the same route and terminate the transaction. Prior to the transaction, the merchant's funds must also be settled for more than 3 days.
d. The bank's risk control rules may change at any time. Currently, it seems that funds that have been settled for more than a week are relatively safe.
e. When a currency dealer presents the source of funds, do not trust static images, as they are likely to be photoshopped. Real-time video confirmation of bank card transactions (pull to refresh, dynamic).
f. Money borrowed through bank lending platforms is relatively clean; think about the specific reasons.
g. Preferentially choose local acquaintances for trading when conditions allow.
Finally, making money is not easy; do not withdraw money without thinking. Choosing a reliable trading counterparty is a wise choice.