The safest solution suitable for small-amount withdrawals, it is recommended to keep it in your collection!
Stablecoin ——> Find a way to exchange for USD yourself (how to exchange, just search on Twitter) ——> Brokerage ——> Wise ——> Return to China
This is the safest, most compliant, and most tested channel, and it does not occupy foreign exchange quota. The annual quota for an account is about 500,000 RMB.
If you are just a small business owner and want to find a more convenient withdrawal plan, let me talk about my experience. I have used withdrawals from the three major exchanges. I have made more than 50 deposits and withdrawals, and finally had my card frozen three times. Recently I have made more than 10 deposits and withdrawals in a year and it has not been frozen;
Therefore, I have been through many pitfalls, and I believe that the current withdrawal method is relatively stable, so I would like to share my ups and downs in depositing and withdrawing money. It is purely personal experience and does not require in-depth analysis;
Because there are almost no problems with deposits, the main problem is with withdrawals, so I will only discuss my experience with withdrawals below;
The first is Huobi: When I first entered the currency circle, I used Huobi. At that time, I naturally chose to deposit and withdraw money on Huobi. At that time, I didn’t know much about the risks of deposits and withdrawals. To sell coins, I just chose the U-retailer with the highest price. Transaction, without looking at any information, I made seven or eight withdrawals from Huobi, and my card was frozen once [China Everbright Bank]. It was automatically unfrozen three days after the freeze was completed, but it was frozen again after a while, and now That card already works fine, but I don't use it anymore;
Next is OKX: After the 519 incident, Huobi announced the withdrawal of Chinese users at the end of 2021. I switched to OKX for trading, so my subsequent withdrawals were also completed on OKX. I spent almost the entire year of 22 They trade, deposit and withdraw funds on OKX;
Among them, the number of withdrawals is about 20 times. At this time, I am already aware of risks when withdrawing money, so every time I withdraw money on OKX, I do not directly choose the U-retailer with the highest price, but click on it to take a look. Let’s look at the transaction duration and number of transactions of this U merchant. I would choose a merchant with [transaction duration of more than one year] and [transaction times of at least one thousand]. The card has not been frozen for a long time, but in the second half of 2022 , I had two cards frozen in a row, one from Bank of Nanjing and one from China Merchants Bank.
Among them, China Merchants Bank is still my salary card, and Bank of Nanjing also automatically unfreezes it in about 3 days. Unfreezing of China Merchants Bank is more troublesome. I need to go to the police station to sign an agreement in person, promising not to participate in money laundering transactions, because this is my salary card, so In the end, I went to the police station to sign the agreement and then the freeze was released;
Finally, Binance: After two cards were frozen in a row when withdrawing money on OKX, I started to get a little scared. After all, three cards have been frozen. If the freeze continues, there will be no clean cards left...
So I started to withdraw funds on Binance, but a large number of transactions were still on OKX. Why am I still trading on OKX? In fact, after Huobi was cleared, I registered for both OKX and Binance at the same time, but because Binance The trading operation interface did not meet my aesthetic taste. I preferred the UI style of OKX, so I still used OKX as my main trading account at that time;
OKX’s ordering experience is actually very poor, with frequent lags. The situation has not improved until now. I once thought it was a problem with my mobile phone, but then I changed my phone and still experienced frequent lags. , compared to Binance, placing orders is really smooth. Except for the waterfall market exchange, which collectively unplugged the network cable, I have not experienced any lag;
Because OKX’s order lag problem has always existed. Although I like OK’s UI style very much, the ordering experience on Binance is really too smooth. Therefore, in the past year, my main trading account has been on Binance for withdrawals. That is, they are all on Binance;
My withdrawal on Binance went through two stages:
The first stage: Just like withdrawing money on OKX, I will screen merchants with higher U-prices [transaction duration exceeds one year] and [transaction count exceeds one thousand]. After doing this for about 5-6 times, although there are no I've had my card frozen, but I always have the shadow of being frozen...
The second stage: This is my current method of withdrawing money. Because now I am worried that my card will be frozen again, so I made a choice between U-price and safety, and chose to use Binance Aegis to withdraw money;
Binance Aegis generally has a price difference of about 0.5 points, which is why I didn’t use Binance Aegis to withdraw money at the beginning. Every time I withdraw tens of thousands, 0.5 points is hundreds, which is indeed a bit distressing;
Summarize:
At present, the exchanges that people use to withdraw funds are generally OKX or Binance. My experience is as follows:
OKX: There is a lot of dirty money on OKX, and the chance of freezing the card is very high. I have been frozen twice;
Binance: The security of Binance's ordinary U merchants is relatively high. I have never been frozen through ordinary U merchants; I think Binance Shield is the safest way to withdraw funds. I have withdrawn funds through Binance Shield more than 10 times and have not been frozen so far;
So my suggestion for withdrawals is to try not to use OKX, choose Binance to withdraw funds, and if you pursue a safer method, use Binance Shield directly;
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