If you earn a billion, you should first pay attention to the risks of fund inflows and outflows. If you sell U every day and a lot of funds come in without being withdrawn, accumulating to 5 million, the bank might call or even visit you, recommending wealth management, trusts, or insurance, and they might invite you to join their VIP gold card program.
If you sell U on a platform, it’s very easy to encounter ‘black money’. If it’s level three black money, and the amount is not large, it may be frozen for 3 days, but if you have a large amount of funds, it could be frozen for half a year; if it’s level two black money, it could be frozen for 6 months or even confiscated. If the amount is small, perhaps 10% compensation can unfreeze it, but if it’s too much, it may involve criminal liability, and you won’t be able to open online banking, issue cards, or take loans for 5 years; if you receive level one black money, you’ll be sentenced directly for ‘concealing criminal proceeds’, starting from three years.
In addition, being greedy for low prices when buying U or selling U significantly above the market price (for example, if the market price is 7 yuan, and you sell for 7.5 yuan) will be considered ‘knowing’, which constitutes a crime, and the consequences are very serious. So, absolutely do not be greedy for such bargains or pursue high profits.
Never sell U on a platform, don’t look for U traders, and absolutely avoid offline cash transactions. Offline cash transactions not only have a high probability of involving black money but may also endanger personal safety; there’s no need to put yourself in danger.
If you want to cash out after making money, it’s best to find someone you know well. Generally, the other party pays you first, and then you give them U. At the same time, verify the funds; do not accept funds that have been stagnant for more than 3 days, and avoid accounts with excessive transactions; just choose accounts with normal transaction flows.
Even if you earn a billion, there’s no need to sell it all at once; selling slowly is safer. For example, if you want to cash out 10 million, just transfer 200,000 via Alipay daily; there’s no need to rush. Being too hasty can lead to problems, and you should avoid using bank cards whenever possible.
Some people say to convert the money into Hong Kong dollars, but this operation is complicated and requires a lot of qualifications and channels. If you haven’t studied it, don’t try it lightly. You should confirm its feasibility before using it.
If the amount sold is small, the bank generally won’t inquire, but if too much money comes into your account daily, you may be restricted from non-counter transactions, and you’ll have to go to the counter to withdraw money. This is also the bank’s way of preventing telecom fraud and account misuse, which cannot be avoided.
If you have a clean background, have not been involved in drugs or crime, and the money earned from selling coins is clean, the bank will generally not ask too many questions, so you can rest assured; however, if you have a bad history, the scrutiny will be very strict.
