If one day you make 1 billion yuan from cryptocurrency trading, many people will definitely think of luxury cars, luxury houses, changing wives and finding more. The question is how to withdraw the money safely? For large withdrawals, especially those as huge as 1 billion, things are far from as simple as imagined.

The policies on cryptocurrencies vary greatly around the world. Some places legally encourage it, while others are ambiguous or even explicitly prohibit it. For example, China has taken strict restrictions on cryptocurrencies in recent years. Despite this, large cryptocurrency service agencies have gone overseas, and exchanges have claimed to clear Chinese users, but in fact users are still active in the cryptocurrency circle.

So, how to safely convert the money earned from cryptocurrency trading into RMB? This is an issue that needs to be handled with caution, involving compliance, security and other aspects. Under the current policy, compliant withdrawal channels may be relatively limited, and it is necessary to carefully study and choose the right solution.

1. In order to ensure the security of funds, we should use a separate bank card for transactions when conducting OTC transactions to avoid mixing with common cards such as salary cards. The advantage of this is that even if the bank card is frozen during the transaction, it will not affect the use of our other funds. At the same time, when cooperating with the investigation, we can also more easily explain the flow of funds and avoid unnecessary trouble.

2. When conducting OTC transactions, we should avoid frequent transactions with fixed merchants or users. The behavior of the same user indirectly purchasing multiple or frequent transactions within a day can easily attract the attention of regulators, thereby increasing the risk of being frozen or investigated. Therefore, we should try to maintain the diversity and randomness of transactions to avoid unnecessary trouble.

3. When conducting OTC transactions, we should try to avoid using stablecoins such as USDT for transactions. Although the prices of these stablecoins are relatively stable, there are certain compliance risks because the conversion between them and legal currencies may involve complex regulatory issues. On the contrary, we can try to choose mainstream coins such as BTC and ETH for transactions. These mainstream coins have better liquidity in the market, more active transactions, and are also more likely to be paid attention to and regulated by regulators.

4. When choosing a platform for OTC transactions, we should give priority to large platforms such as Binance. These platforms not only have advanced technical support and rich trading experience, but more importantly, they have established good communication and cooperation mechanisms with mainland regulators and law enforcement agencies. This means that these platforms have more stringent standards and measures in terms of risk control and compliance supervision, and can more effectively ensure the security and compliance of transactions.

5. When choosing bank cards for OTC transactions, we should try to consider using cards from local banks. Since these banks have relatively small business scopes, their cooperative relationship with law enforcement agencies may not be as close as that of large banks, so they may be more flexible and efficient in dealing with freezing and other issues. For example, local banks such as city commercial banks and rural commercial banks in various places are good choices. Large joint-stock and commercial banks such as ICBC, ABC, and CCB have outlets across the country. Once problems arise, law enforcement agencies can directly freeze relevant accounts, which brings certain risks to our use of funds.

6. In addition to choosing large platforms, we should also pay attention to whether the platform supports T+1/T+2 withdrawal strategies. Although such a strategy means that you cannot withdraw cash immediately after selling the coin, it can significantly reduce the risk of suspected money laundering through OTC transactions. For example, Binance platform adopts T+1 withdrawal strategy, while Huobi Yanxuan transaction adopts T+2 withdrawal strategy. Although such a strategy may bring some inconvenience to our use of funds, it is an important means to ensure the compliance and security of transactions, and it is worthy of our attention and compliance.

7. Finally, when we conduct OTC transactions, we should look for reliable merchants to trade. This requires us to have a certain ability to identify and risk awareness, and to have an in-depth understanding and evaluation of the merchant's reputation, transaction history, customer evaluation, etc. At the same time, we can also try to choose large merchants or large market makers for transactions, who usually have a more stable and secure trading environment. In the process of trading, we should also pay attention to placing fewer orders and less merchants in problem areas to reduce trading risks. Of course, as ordinary users, it may be difficult for us to fully distinguish which merchants are reliable, so we must do a good job of investigation and preparation before trading.

Okay, the above are several withdrawal options. For your reference. #BTC

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