The risks of withdrawals far exceed expectations, and you must be aware of these differences!

Withdrawal is an essential step in cryptocurrency trading, especially when it comes to fund security. Many people have doubts about the choice of withdrawal methods. In fact, depositing is relatively safe, but common risk control issues during withdrawals, such as account freezes, often cause concern.

Today, let's talk about the two common withdrawal methods and their risks.

Withdrawing through the exchange's OTC, the platform acts as an intermediary providing transaction protection. Merchants need to undergo real-name authentication and provide a margin, with trading prices close to market conditions, and the platform monitors the entire transaction to ensure safety. If any issues arise, the platform can assist in resolving them.

Over-the-counter trading, on the other hand, involves direct transactions with others through social platforms (such as WeChat groups, Telegram, etc.), which carries higher risks. There is a lack of third-party protection, making it difficult to verify the identity of the counterparty and the source of funds, and the trading price is prone to deviation, increasing the risk of funds being frozen.

The differences between these two methods mainly lie in the security of transactions, identity verification, transparency of trading prices, and the handling of issues.

Withdrawing through the exchange's OTC provides protection; both merchants and users need to undergo real-name authentication, trading prices are close to market conditions, and the platform will assist in handling issues such as account freezes and trading disputes. In contrast, over-the-counter trading lacks third-party protection, trading prices may have significant deviations, the identity of the counterparty is difficult to verify, and if problems arise, users need to resolve them on their own.

Therefore, to reduce risks, it is recommended to prioritize the exchange's OTC withdrawal method. By using this method, you can leverage the platform's protection to avoid trading disputes or fund risks. At the same time, avoid using unusual trading methods, such as cash payments or trading at excessively low/high prices, as these can increase fund risks. When choosing a counterparty, be sure to prioritize merchants with real-name authentication or reputable users, and check the other party's trading history.