【Truth Warning】"Legal U Selling in Hong Kong" tricks, what secrets are hidden?
The truth and traps of selling USDT in Hong Kong (personal experience guide to avoid pitfalls)
1. The truth that internet celebrities won't tell you
No practical experience: Most influencers have never tried large withdrawals, relying solely on storytelling to sell courses/generate traffic.
Profit-driven: Recommend exchanges for commissions, deliberately hiding high losses and risks.
Real talk has no traffic: Rags-to-riches stories attract more followers, while actual processes are complex and costly.
2. Real withdrawal process (taking 1 million U as an example)
1. Preparation
Open an overseas card: Hong Kong virtual banks (like Zhong An) take 3 days to open an account, physical cards (HSBC/Standard Chartered) require finding an intermediary and spending thousands.
Exchange KYC: Mainland identities are hard to pass through regular exchanges, while shady exchanges are prone to running away.
2. Selling U practice
Offline exchange for Hong Kong dollars: The exchange rate is pushed down to 1U = 7.09 RMB (12 cents lower than the market price), losing 120,000 on 1 million U.
Hong Kong dollars to USD: Bank exchange rate is pushed down another 12 cents, losing another 120,000.
Total loss of 24%: Not including fees and risks.
Information exposure: Real identities are registered throughout the process, privacy is exposed.
3. The difficulty of getting money back to the mainland
ATM withdrawal: Limited to 20,000 per day, continuous withdrawals are easily flagged by bank risk control.
Bank transfer: Requires tax proof (income from selling U cannot provide this).
Familiar person receiving: The other party may run away or be involved in a case, freezing the funds.
Bitcoin ATM: Most can only buy, not sell, with fees as high as 10%.
Summary
Retail investors should be cautious: 1 million U nets a loss of 240,000, with extremely high operational risks.
Alternative solutions: Exchange small amounts with acquaintances, or hoard coins and wait for a bull market.
Beware of tricks: Anyone claiming "zero loss" or "guaranteed arrival" is 99% likely to be a scammer.
Remember: Safely pocketing funds is more important than getting rich quickly!
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