[Note: The following tutorial was organized by a netizen. Due to multiple reposts, the original source cannot be found, but after verification, the content is generally accurate.]
1. Introduction to Victory Securities.
Victory Securities is a local brokerage in Hong Kong with over 50 years of history, allowing trading of Hong Kong and US stocks as well as cryptocurrencies. In short, this exchange is a godsend for mainland crypto enthusiasts for deposits and withdrawals.
The biggest advantage of this exchange:
1. Fund security. Instead of using a C2C method for deposits and withdrawals (which can easily involve dirty money), transactions are directly matched in the exchange, with funds transferred to a bank card via stock and securities transfer, thus rejecting black funds, ensuring high security, and brokerage statements can serve as proof of fund sources.
2. Reduce wear and tear. The common path is Sea Monster—IFAST—WISE—HK Card, and now it is Victory Securities—HK Card, bidding farewell to the previously lengthy compliance withdrawal process.
3. Mainland residents can register. Other similar licensed exchanges in Hong Kong require overseas identity for registration, while Victory Securities does not require overseas identity, but does require a Hong Kong ID and proof of Hong Kong address.
4. Stock and cryptocurrency trading. Bridging traditional finance and cryptocurrencies, allowing trading of both Hong Kong and US stocks and cryptocurrencies, while legally compliant with deposits and withdrawals.
Regarding withdrawals, if you are an ordinary investor, you can recharge with BTC or ETH and then sell. If you meet the qualifications of a professional investor (with proof of assets equivalent to 8 million HKD or more, including bank balance monthly statements, bank wealth management proof, stock, bond, fund statements, etc.), you can upgrade your account to a professional investor, allowing you to trade USDT.
2. Precautions.
1. Do not transfer directly from other exchanges (such as Binance, OKX, etc.); use a wallet (such as MetaMask, Imtoken, etc.) to transfer to Victory Securities.
2. When depositing cryptocurrencies, you need to bind your wallet; please first conduct a small amount verification to confirm the deposit amount (note: this includes a random small payment verification, for instance, if you expect to deposit 1 ETH, the random small amount is 0.05 ETH, so please deposit 1.05 ETH when making the deposit). After small amount verification, you can bind the wallet whitelist, and then large amounts can be transferred in.
3. When making a deposit, be sure to select the correct network, and do not make a mistake; for example, USDT currently only supports the ERC20 network.
4. Since the transaction is conducted through a brokerage channel, the settlement of currencies follows the brokerage's timing. Therefore, aside from trading being available 24 hours, other operations should be completed by 12:00 on working days, and at the latest by 16:00; otherwise, you will have to wait until the next day for successful operation. If there are holidays, the timeline will be extended. Instructions for currency exchange and fund transfers in virtual asset accounts submitted before 12:00 on working days will be completed by 17:00 the same day; withdrawal instructions submitted before 12:00 will be processed on the same day.
5. When cashing out, generally speaking, after selling virtual assets, you can withdraw cash. However, if you want traditional asset proof, after selling virtual assets, transfer the funds to the securities cash account, purchase US Treasury bonds or Bitcoin ETFs, etc., hold for a period, and then sell. This way, even if the bank requires an explanation of the source of funds, you can provide the electronic statement from the securities company, clearly showing that the funds are from the traditional financial sector and not simply cashing out after selling coins.
3. Withdrawal process (taking professional investors as an example).
1. Transfer USDT from other exchanges (such as Binance, etc.) to a wallet (ERC20 network);
2. Wallet binds with Victory Securities, first make a small deposit (with small amount verification), ETH is needed as gas fee. Depositing into Victory Securities requires KYT, which traces the currency to check if it has ever entered a marked wallet address. KYT requires manual review, so it is best to make deposits during working hours on working days. After successfully binding the wallet, you can make a second deposit.
3. After a successful deposit, place a sell order at Victory Securities, generally at a price that can be sold as soon as possible.
4. If sold before 16:00 on day T, settlement will take place on the evening of day T, and withdrawals can be made on the evening of day T (after settlement) or before 12:00 on day T+1, with funds arriving on T+1 evening.
If sold after 16:00 on day T, settlement will take place on the evening of T+1, and withdrawals can be made on the evening of T+1 (after settlement) or before 12:00 on T+2, with funds arriving on the evening of T+2.
4. OTC withdrawal process.
Generally, direct orders for transactions can be placed within HKD 1-2 million a day, and orders can be gradually executed after being placed.
For large withdrawals (over 100,000 USD) with time constraints, the OTC channel can be used. The process is as follows:
1. Deposit into the virtual asset account.
2. Inquire about the price from the account manager, who will provide a quote and send an email to the investor's mailbox.
3. After the investor replies to confirm the quote via email, Victory Securities will deduct the cryptocurrency from the virtual asset account.
4. At the same time, Victory Securities will transfer the funds into the investor's virtual asset account.
5. Investors can withdraw before 12:00 on day T+1 after bank settlement, with funds credited the same evening.
5. Regarding how funds can return to the mainland for consumption.
(1) Within the facilitated quota, an annual foreign exchange quota of 50,000 USD can be returned to the mainland.
(2) Methods that do not occupy the facilitated quota:
1. Funds can be returned to the mainland through Panda Express, with an annual limit of 300,000. Other common third-party payment methods include Remitly, Wise, etc.
2. Open WeChat Hong Kong wallet; after opening, you can transfer back to the mainland through cross-border transfers. You can also directly bind a Hong Kong bank card for consumption. If WeChat Hong Kong is verified with a Hong Kong ID, the cross-border transfer limit will be increased.
3. Open Alipay Hong Kong (requires a Hong Kong mobile number), after opening it, you can transfer back to the mainland through cross-border transfers, and can also directly bind a Hong Kong bank card for consumption in the mainland. If Alipay Hong Kong is verified with a Hong Kong ID, the cross-border transfer limit will be increased.
4. Use UnionPay POS machines to swipe cards or pay with QR codes. Hong Kong cards with the UnionPay logo can be directly swiped at mainland POS machines, or you can open the Hong Kong bank card app to pay via QR code, but you must understand the card-swiping limit.
5. Withdraw cash from mainland ATMs, you need to enable the 'overseas withdrawal service function,' and can withdraw equivalent to 20,000 HKD in RMB each day.
6. Ants moving house, each person can transfer 20,000 RMB back to the mainland each time, then deposit it into a mainland bank card.
