I earned quite a bit of money in the cryptocurrency space. If I withdraw, will the bank inquire about the source of the money?
When I first got into the cryptocurrency space, I was trading on BitChina, and at that time, the price of Bitcoin was relatively low. I happened to be doing e-commerce, and I had some cash on hand. As a result, the price of Bitcoin kept rising, and I withdrew my funds accordingly. However, the bank did call me at that time, talked for a long time, and even inquired about my hometown and life. In the end, they even recommended investment financial products to me, which left me both amused and bewildered.
As time went on, I realized some risks in the cryptocurrency space, especially the trouble of account freezing. To avoid such issues, I took some preventive measures and generally did not encounter major problems. The only time my account was frozen, I went to the bank counter to resolve it, and it was very simple. In summary, as long as you avoid using currencies like USDT that are associated with dirty money, you shouldn't run into problems. I recommend converting your funds to USD when transferring and using a foreign currency account for remittances. This not only helps to avoid the hassle of domestic financial regulation but also allows for some additional gains due to the appreciation of the dollar.
To date, I have successfully transferred large amounts of funds multiple times without encountering any issues. I can even use these funds for overseas consumption directly. Moreover, I discovered a little tip: foreign trade company accounts can bypass foreign exchange controls. If you can acquire a foreign trade company with a mature cash flow, trading cryptocurrencies and cross-border arbitrage becomes much easier.
Regarding cross-border arbitrage, the profit mainly depends on the price differences between different exchanges. Although there are certain risks, if operated properly, there is basically no loss. The only risk is that the processing speed of the exchange may be slow, which could lead to excessive market fluctuations, but such situations are very rare.
If you have any questions, feel free to leave a message in the comments. If you find it helpful, please like and support! When I have time, I will publish a detailed tutorial to help everyone better understand and operate in the cryptocurrency space.