It is easiest for beginners to use the virtual currency in their hands, and there are several common withdrawal methods. (via CoinsRadar.net):
The novice who registered a wallet suddenly had virtual currency in his hand, and now he faced a more difficult problem, how to withdraw U safely and easily.
Novices who have just entered the currency circle must be troubled by the overwhelming news about frozen cards. Since the country vigorously launched the "Card Cutoff Action", it has indeed effectively curbed the arrogance of domestic electronic fraud groups and has significantly improved, but ordinary people have also Gradually, I found that the bank cards in my hands are no longer useful. Not only is it difficult to withdraw large amounts of cash from the bank, but people in the currency circle who conduct virtual currency transactions tremble because of black rice, fearing that if they accidentally withdraw money and receive black money, they will be accidentally injured.
Here are some common ways to withdraw money.
1. C2C withdrawal
C2C withdrawal should be the most popular way to sell USDT in China. It’s person-to-person, and all major platforms currently use this method.
The only advantage of this method of withdrawing money is that it is fast. As long as you have the funds and click "Sell Coin" directly on the exchange, a large number of professional merchants will buy USDT, and the transaction speed is also very fast, but it requires Be careful not to be greedy for the price difference of a few cents. Often, the risk of receiving U at a high price will increase. Reasonable market prices and small withdrawals are suitable for novices with a small amount of USDT.
The shortcoming is also obvious. It is impossible to control the counterparty's funds. At present, many U.S. merchants buy and sell U at the same time. Maybe there is no problem with his own funds, but when he buys high and sells low, he will enter and exit the U. His funds are mixed together, and he doesn’t know which one will be hacked. After the account is hacked, the money will be transferred to you who made the withdrawal, so there is a risk of freezing the card and violating the rules.
2. Withdraw money from Hong Kong
At present, Hong Kong has fully supported digital currencies and encouraged digital currency transactions, and the financial system is also vigorously integrating digital currencies. There are BTC/ETH ATM machines in the streets and alleys of Hong Kong. You can directly sell BTC in exchange for Hong Kong dollars. However, this problem is even more unrealistic for ordinary novice retail investors. Who would fly to Hong Kong for a small amount of U to exchange? If there is a large amount of USDT worth flying to exchange, but also for novices who do not have a Hong Kong account, how to bring a large amount of Hong Kong dollars back to the country without loss is another big problem. Last year, the author also went to Hong Kong in person and found that the exchange ATM machines require KYC certification, but unfortunately, Hong Kong compliance platforms are currently unable to pass KYC for mainland users. You need to have an overseas long-term residence certificate or a passport from another country.
3. Encrypted u card
Crypto U cards are also a new way to withdraw money in 2023. Because the two major Western institutions, Visa and MasterCard, have integrated cryptocurrency settlement, many technology providers have emerged to carry out USDT settlement of cryptocurrencies, and then major card issuers platform to run this business. The most common types of encrypted u-cards are virtual u-cards and physical u-cards.
Virtual USB card
The virtual U card is more suitable for novices with a small amount of U. After registering an account, you will be provided with an overseas visa or MasterCard bank account. This account can be bound to Alipay and WeChat, and some number segments can even be bound to the Apple Store. Payment, the specific supported binding depends on the number segment provided. Generally, when opening a card, you need to pay a card opening fee of 1-2U, and then you will be provided with an address to recharge USDT. After transferring U to the address, you will be processed according to a certain When exchanged with the U.S. dollar, there will generally be a loss of about 1.5%, plus the exchange rate loss of consumption is about 3%. At present, the more common and mainstream virtual card platforms include platforms such as DUPAY and ONESARD. On the use and registration of virtual card accounts, Bile will teach novices how to register them step by step in subsequent articles.
Physical U card
Currently, the common physical U cards on the market are MasterCard U Card and International U Card. European and Lithuanian Paytend digital banks provide services. The MasterCard U Card launched by Paytend is equivalent to a co-branded card launched by ICBC. Its feature is that it supports digital currency storage. Value, and you can withdraw cash from all bank ATMs that support MasterCard. The biggest advantage of a physical card is that with a physical bank card, you can directly withdraw cash from mainland ATMs and spend money at POS machines. The limit is relatively large, and you can make large withdrawals. , this method is very safe. Of course, the loss of different card issuing platforms is basically 4%. However, due to the flooding of the market, the daily cash withdrawal limit of MasterCard U Card has been reduced from the previous 30K to about 7K now, and the quality of customer service has also declined. Gradually declining, the editor once had a situation where I would withdraw cash without spitting out a receipt, and could not find customer service again and again. In view of the current status of the MasterCard U Card, the editor does not recommend it very much. The international payment U card is relatively much more friendly. The international U card has the UnionPay logo and can be spent at any place with the UnionPay logo. It also provides an APP that can be used and POS machines that can swipe the card. It can be used in major convenience stores and shopping malls. You can use the APP’s built-in QR code to scan the code for consumption, and there is a handling fee for withdrawal. There is no handling fee for scanning the QR code and POS. The smooth payment fully meets the needs of daily life, but unfortunately the application has been stopped now. Anyone want to Newbies who want to know more can click and follow, and the author will tell you the latest progress as soon as possible.
4. Overseas business settlement
Since USDT is anchored to the U.S. dollar at a ratio of 1:1, it is suitable for people with overseas business to make payments, but the audience is small and we will not make a decisive statement.
5. Fixed cooperative U business
If you have a large or stable U deposit and need to frequently access your bank card, then a currency dealer with stable funds in the account is your best choice. The fixed currency dealer will trade with you and compare the counterparties. It is single and not easily subject to bank risk control. At the same time, fixed U merchants can establish a healthy cooperative relationship and build trust with each other. It will be more convenient in the process of buying and selling U in the future. If you need this, you can leave a private message in the background. Lebi will try its best to provide channel resources for everyone.