As an old-timer in the crypto world, I need to withdraw 200,000 to 500,000 every year to make a living, so I will share some experiences regarding withdrawals in the crypto sphere. Let's get straight to the point:
1. Only choose platforms with T+1, such as Binance, because once the funds are converted to USDT, they will be transferred immediately to avoid prolonged risks. T+1 platforms can deter most people from making hasty withdrawals.
2. Choose merchants that have been registered for a long time and have high trading volumes. Experienced merchants know how to avoid being regulated by Uncle JC as much as possible.
3. The withdrawal time should be during working hours on business days. In 2021, I had a withdrawal of 100,000 that was executed during night trading on OKEx, which was frozen the next day and has not been resolved to this day. If you encounter issues, there's nothing you can do but accept the loss.
4. It’s not necessary to choose the one with the highest price; a little less or more doesn’t matter, mainly look at whether it complies with the second point.
5. After placing an order, leave a message for the merchant: Please pay in your real name; I will confirm immediately once the funds arrive. After the funds are received, make sure to check the details to see if they match the payer's name on the order. If it's not a real-name payment, even if the money arrives, request a refund without listening to any excuses, such as exceeding card limits or using a family member's card.
6. Make sure the receiving card is not one that is rarely used or has zero balance. Suddenly receiving a large amount can easily trigger risk control. My approach is: each receiving card has a balance of one or two hundred, is linked to WeChat Pay, and I make purchases at any time, rotating through each card.
7. Never try small amounts as a test; this is the easiest way to get flagged for risk control! If a bank card is rarely used, and you want to test if there are any issues, transfer a small amount first, just a few cents, and then transfer it out. Once you see the card is fine, proceed with the large withdrawal.
The above behavior is just small-scale testing. This was told to me by senior bank personnel; in such cases, the issuing bank won't interfere, but it is the easiest to be monitored by the People's Bank, even if it's not illicit funds. Being monitored does not necessarily mean being risk-controlled, but there is a certain probability of being flagged.
8. The withdrawal amount depends on your scale:
A. If it's a few tens of thousands, there's no need to split it into batches, and you don't need to find Blue Shield. Just follow the steps outlined in 1-6.
B. If it's a large withdrawal, like several hundred thousand, and you need it urgently, it's best to find Blue Shield. Although the exchange rate is lower, there generally won't be any problems.
C. If the amount is large and not urgent, and you have several bank cards, you can rotate through each card for receiving funds, with each transaction being tens of thousands. After receiving on one card, don't touch it for 2-5 days, then transfer it to your main card. You can also transfer after receiving funds twice. You can have 1-3 cards based on your funds; the main card should not receive funds directly. For example, with 10 cards, receive funds on each card every 2-3 days or every 4-6 days, with each transaction being 50,000 to 100,000. This way, you can withdraw 5 million in a month. Additionally, the amount and duration of each transaction for each card can vary.