When it comes to moving your cryptocurrency profits back to your local bank account, caution is key. Large transfers can trigger scrutiny from banks and regulators, potentially leading to legal issues. Here are two effective methods to do this safely:

Method 1: Using BiyaPay

1. Transfer USDT to BiyaPay: Start by moving your USDT (Tether) into your BiyaPay account.

2. Convert to US Dollars: Convert your USDT to U.S. dollars within BiyaPay. This step ensures your funds are clear and traceable.

3. Send to a Bank: Transfer the U.S. dollars to your bank account using platforms like Wise or OCBC Bank.

Wise: Allows transfers to banks like Taobao, Xinxin, or Zhongg Bank, with annual limits.

OCBC 360 Account: Withdraw cash directly in China with higher limits than usual.

Method 2: Using Kraken and iFAST

1. Withdraw USDT: Withdraw your USDT from Kraken, a fully licensed exchange.

2. Transfer to iFAST: Move your funds to iFAST, a British bank, for a secure and legal method to manage your money.

Important Tips

Be Aware of Fees: Both methods may incur transaction fees and potential losses during currency conversion.

Seek Professional Advice: Consult a legal advisor or financial expert before proceeding to minimize risks.

By following these methods, you can transfer your crypto profits back to your bank account legally and safely.

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