Seeing that many people are paying attention to Xiao Erduo's post, it shows that people are still very concerned about the safe withdrawal of cryptocurrencies. I am a person who likes to tinker, and I have opened a lot of accounts in exchanges, banks, securities companies, and financial institutions. Many common channels on the market are either unsafe or have high losses. How can I withdraw funds safely with the least amount of money?

The reason why C2C is unsafe is that the path of funds is from individual to oneself, which makes it easy to receive black money. Therefore, the core of security is actually to add an institution in this process, that is, the path becomes any entity → institution → oneself. With this idea, you can actually DIY the so-called safe withdrawal path at will. Of course, the institution in the middle needs to be as compliant and safe as possible.

Have Hong Kong identity

If you have a Hong Kong identity, as a retail investor, Hashkey can accept ETH and BTC (only supports the main network) deposited into personal wallets, and then withdraw the funds to Hong Kong cards in compliance with regulations. The loss is the gas from the exchange to the wallet and the gas from the wallet to hashkey, plus the 5HKD handling fee, which is about 100 yuan, which is negligible for large withdrawals.

No foreign identity

If you do not have a foreign identity, then you need an overseas bank account and use the bank account statement as proof of address to open a series of financial institutions such as Wise.

There are many tutorials on the Internet, such as OCBC and various Hong Kong virtual banks. I have opened accounts in all of them, but I feel that the EU region is the most cryptocurrency-friendly. There are very few banks in the EU region that can open cards remotely and support Chinese passports. I use N26 myself, which can be opened with a mainland passport. After opening N26, I have a European address proof, which can be used to further open a Bybit Card. For daily consumption, you can use the U in Bybit to swipe the stand, which has a 2% cash back and almost no loss. You can withdraw money from Kraken's euro to N26, with a handling fee of only 1 euro, and the account will be credited within seconds via SEPA INSTANT. You don't have to wait. N26 continues to deposit money into Wise's euro account, which is completely free. You can find methods for transferring money from Wise to various countries by just searching. It is safe and fast.

What’s even more rare is that N26 supports cryptocurrencies. Users can purchase virtual currencies directly with legal currency in the bank, but they can only buy and sell, not withdraw cash.

I have previously written a tutorial on how to activate N26, which is available in the comments. These are based on my experience, and I hope it will be helpful to you.


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