I made a lot of money in the cryptocurrency space. If I withdraw, will the bank question the source of the money?

If the amount is too large, they will definitely ask. I've been questioned 3 times.

I initially traded on Bitcoin China, but that platform is gone now. At that time, Bitcoin was only 2500. I happened to have a lot of cash on hand from doing e-commerce.

Later, it unexpectedly rose to over 7000, and I withdrew funds. At that time, the regulations were not strict, and the bank still asked. I answered the phone, and they asked all sorts of questions, chatting for half a day about how many acres of land I have, how many cows, my surname, where I came from, and so on.

In the end, they suddenly said: 'Sir, we have a particularly good wealth management product that you might consider...' I was like, what the heck.

Later, they were not so polite anymore. I've heard that many people have had their cards frozen, and I took a lot of precautions. In recent years, my card has only been frozen once. I just had to go to the counter to unfreeze it.

In summary, as long as you don't touch USDT, there shouldn't be much of a problem. There is a lot of black money in this area. Funds must be cooled down. Another point is that it’s best to convert to USD, and then wire the USD directly to a foreign currency account. This is the best option. Because it has already detached from the Chinese financial system, and the domestic and foreign financial systems are isolated. The appreciation cycle of the USD also brings additional profits. I have withdrawn large amounts more than ten times without any issues. I can also directly spend overseas.

Here’s a secret for everyone: foreign trade company accounts can bypass foreign exchange control bugs. So, acquiring a mature foreign trade company makes it much easier to trade cryptocurrencies. It also allows for cross-border arbitrage.

Unified answers to everyone's questions:

1. Why acquire a foreign trade company instead of starting one yourself?

Mainly because it's troublesome, and it's best if the foreign trade account has established cash flow.

2. Can a foreign trade company operate without performance? Specifically for trading cryptocurrencies?

It's best to have some cash flow.

3. How much profit can be made from cross-border arbitrage?

This mainly depends on the price differences between various exchanges.

4. Is there a risk of losing money?

It depends on market fluctuations; generally, there won't be losses, and you can complete an arbitrage in a few minutes. Of course, sometimes exchanges process slowly, and if the market fluctuates too much, there could be issues, but such situations are very rare.

If you have other questions, feel free to leave a message in the comments. If you find this helpful, please like and encourage me. Thank you.