Veterans in the cryptocurrency world reveal how retail investors can successfully exit in the face of huge profits.
Having been in the cryptocurrency world for 15 years, I have witnessed too many people claiming to easily cash out and secure their profits after trading cryptocurrencies, but these are often just self-deception. They ignore the essence of human nature and the sense of helplessness that all rules and strategies face in the face of human nature. The premise of this discussion is ordinary retail investors, not institutions, foreign trade practitioners, or professionals. For real retail investors and newcomers, completely exiting the market is not easy, and very few in the comments have actually made more than 10 million, which is indeed a tragedy in the cryptocurrency world.
As a veteran in the cryptocurrency world, I want to point out that if there is any improper portion in the source of funds, even if it’s just a small part, it can lead to significant losses, even if your profits reach hundreds of millions. Those highly-upvoted answers often overlook this point, believing that funds exceeding a certain amount will definitely cause trouble. This is not an alarmist statement; if you are only handling a small amount of money, it may not attract attention, but once it involves huge sums, even a small amount of improper funds can land you in trouble.
Many people may think that simply returning the improper portion of funds can solve the problem. But this view ignores the complexity of human nature. Law enforcement agencies in various locations have the authority to take action and demand that you return ill-gotten gains, and you may even face more severe consequences.
The challenges and realities of retail investors cashing out large sums in the cryptocurrency world.
In this unpredictable world of cryptocurrency, I have seen too many people get into trouble because of a sudden large sum of money. Let me tell you a true story. Li Si, an ordinary person trading on Huobi, was doing legitimate business in 2020 but unexpectedly got caught up in a storm in April 2021. His account had received 2 million in dirty money, which he then used to buy cryptocurrencies. Half a month later, his friend Wang Wu, who was only an acquaintance and not a partner, passed by Li Si's rented apartment with 2 million in cash and temporarily stored the cash there. Soon after, law enforcement from another location came to the apartment and discovered the 2 million in cash, and Li Si could not explain the source of the cash. In fact, this 2 million belonged to Wang Wu and had nothing to do with Li Si, but he was caught red-handed and could not prove his innocence. Eventually, Li Si ended up in prison for three years. This story tells us that in the cryptocurrency world, the flow of large sums of money is definitely not that simple.
In this case, Li Si really knows nothing, but will the law enforcement believe it? Being a legitimate trader on the exchange but receiving dirty money resulted in three years of imprisonment. This tells us that for retail investors and novices, large cashing out in the cryptocurrency world is far more complex than we imagine.
I once had a client who withdrew funds from Huobi, and his bank card was never frozen until one day the bank's risk control suddenly intervened, because more than 30 public security agencies had inquired about the transaction. Although no freezing measures were taken, it was already in a level 3-6 card status. If 10 million passed through your card and more than 30 public security agencies inquired, do you think it’s possible for it to be stopped with one click?
Those who claim to have traded a few times and never had a few thousand blocked really do not understand human nature. They have never seen what big money is. If your account has a balance of 6 million by the end of the year, it will be reported. 200 million in currency? You really are thinking too simply.
I have written many articles, and there are always people saying that safely withdrawing funds is very simple, but they cannot understand what it means to secure large amounts of money. They always impose their own thoughts on others, such as going to Hong Kong to withdraw funds, setting up a foreign bank account, converting to US dollars, and laundering it out. Pay attention to the topic; I have always been talking about retail investors and novices, defined here as those who relied on luck to earn overnight wealth and know their own capabilities. Do you expect a retail investor to go abroad to open a bank account, complete the KYC certification of foreign exchanges, convert currency, and then set up a foreign trade company? Is it still a retail novice who can do this series of operations?
If you spray me, I hope what you say is based on actual on-site operations before you discuss feasibility plans, rather than hearsay. For example, regarding withdrawing funds from Hong Kong, I’m not saying you need to withdraw 10 million, you can try to withdraw 1 million Hong Kong dollars and see how to safely put this money into your mainland bank account. Don’t tell me theories; once you do it, you’ll know. Don’t just read a few articles from self-media and tell me there are Bitcoin ATM machines everywhere in Hong Kong; go get a pass.
Misconceptions about large withdrawals: Safe cashing out is not easy.
In the cryptocurrency world, many of the safety methods discussed for withdrawing funds have become outdated, especially when facing large amounts of money. A key point is the limit issue: methods for handling hundreds of thousands do not apply to tens of millions or even hundreds of millions. When dealing with 200 million in funds, those simple methods mentioned in the comments become inadequate. I want to emphasize here that those who have never made 10 million or have no practical experience with funds over 1 million should refrain from commenting casually. In the cryptocurrency world, every word you say can expose your level.
Remember, withdrawing large sums of money is a complex process; it cannot be resolved with a single method. For those who criticize me, I hope you can earn over 10 million and successfully cash out before pointing fingers at me. The core of large withdrawals lies in converting funds into any form of payment, such as paying me 10 million for legal consulting fees. I am not afraid of dirty money; funds can be converted.
The real challenges of large withdrawals.
In the cryptocurrency world, withdrawing large sums of money is a comprehensive issue involving law, finance, safety, and multiple aspects. It cannot be solved simply by buying and selling cryptocurrencies. Those who claim to have safe methods for withdrawal often have never handled large-scale funds. In practical operations, you need to consider the sources and flow of funds, tax issues, and potential legal risks.
Why is withdrawing large sums of money so difficult?
Legitimacy of the source of funds: The source of large funds must be legal; otherwise, once discovered, the consequences are unimaginable.
Monitoring the flow of funds: The flow of large funds is often subject to strict monitoring by regulatory agencies; any anomalies may raise alarms.
Tax issues: The entry and exit of large sums of money requires reasonable tax declaration; otherwise, one may face tax audits.
Legal risks: When handling large sums of money, it is essential to comply with relevant laws and regulations; otherwise, one may violate the law.
The key point is:
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