As the problem of frozen cards in China becomes more and more serious, everyone is saying "Make money in the cryptocurrency circle, spend it in the cryptocurrency circle, and want to take it home when you leave." But in fact, as long as the method is appropriate, you can safely take the funds home. Here are several reliable ways to cash out, you can refer to them:
1. Exchange C2C withdrawal
Choose a regular exchange (such as Binance), exchange USDT for RMB or US dollars, and then withdraw to a bank account. The operation is simple and the loss is low, but because it is a C-end transaction, the risk of frozen cards is higher.
2. P2P transaction
Directly trade with other users through P2P platforms (such as Binance P2P) and exchange for local currency. The platform provides guarantees to reduce transaction risks. If it is a cash transaction, it is recommended to choose a public place and bring a friend to ensure safety.
3. OTC over-the-counter transaction
Platforms suitable for large-scale exchanges (such as Binance OTC). The handling fee is low, and an agreement is usually required to ensure transaction security and compliance.
4. Cryptocurrency ATM
Some countries support cryptocurrency ATM cash out. Although it is convenient, the handling fee is high (5%-10%) and the privacy is good.
5. Payment platform
Payment platforms such as PayPal and Revolut support the conversion of cryptocurrencies into fiat currencies and withdrawals to bank accounts. The operation is more complicated, but the funds are safe. Remember to use your passport for KYC throughout the process and pay attention to the handling fee.
6. Cash face-to-face payment
Suitable for trusted acquaintances, choose a safe public place for transactions, and preferably have a third-party guarantee.