Making ten million from trading cryptocurrencies may be viewed in the inner circle as a source of huge property with unclear origins, especially when there is no reasonable explanation for the source and liquidity of the funds. Banks may scrutinize such large transactions and may even freeze accounts.
First, it is important to know that trading cryptocurrencies abroad is considered a legitimate investment activity, so your earnings are not illegal income. The following four points easily solve the problem of legal withdrawals!
Transfer USDT from the exchange to the BiyaPay e-wallet: This is a relatively safe step, as BiyaPay can provide a certain level of privacy protection and convenience.
Exchange 1:1 for US dollars or other legal tender within BiyaPay: This allows you to convert your cryptocurrency earnings into legal currency.
Withdraw to bank accounts like Wise or OCBC: These banks are experienced in handling international remittances and may be subject to less strict scrutiny than domestic banks. Finally, remit to mainland bank cards or Alipay, WeChat: although this will involve some fees and exchange losses, it is a necessary cost to legitimize the funds.
BiyaPay is not just a tool for inflows and outflows; it can also be used for investments in U.S. and Hong Kong stocks, which adds to its versatility in financial management.
If you can ensure that each step complies with laws and regulations, and can provide legal proof of the source of funds, then your funds can be “clean” back to your domestic account. #biyapay