How can individuals safely cash out USDT?

As a veteran in the crypto space for 8 years, who has experienced card freezes on certain exchanges, and with friends in the oil business, here are some suggestions for safely cashing out USDT:

1. Try to find trustworthy friends to cash out.

Do not cash out on exchanges, regardless of whether they are top-tier or long-standing traders; if you cash out on exchanges, you will have a 99% chance of encountering card freezing issues.

Look for friends nearby to cash out, and first ask the other party to send you a video of their transaction details, making sure to have your name input during the video to prevent fake videos.

2. Convert to cash.

Convert USDT to cash; currently, this is a mainstream method in places like Shenzhen and Hangzhou. If you receive and transfer over a million or ten million yuan, it can trigger bank risk controls.

3. Find compliant channels for cashing out.

Some Hong Kong stock brokers can facilitate stablecoin deposits and then convert them to Hong Kong dollars, with no amount limitations.

However, the limit for an individual's conversion from Hong Kong dollars to Chinese yuan is still $50,000 a year.