Earned 1 million, ready to cash out? Especially for newcomers, you must save this guide!
1. Cash out in Hong Kong: Go in person
Method of operation:
Go to Hong Kong and exchange USDT or other crypto assets for Hong Kong dollars or Renminbi at local exchange points.
It is recommended to cash out multiple times in small amounts to reduce the likelihood of attracting attention or triggering risks.
Avoid carrying large sums of money at once to prevent complications.
Carefully choose reputable exchange shops to avoid risks such as 'running off with the coins'.
2. Cash out via overseas bank card: Safe but requires preparation in advance
Method of operation:
Transfer USDT from Binance to trading platforms like Kraken and exchange it for USD.
Withdraw to an overseas bank account, such as ZhongAn Bank or other banks that support crypto trading.
Precautions:
Prepare an overseas bank card in advance to ensure smooth withdrawal of funds.
Monitor exchange rates and fees to minimize profit loss.
Overall risk is relatively low but ensure the account is used in compliance.
3. Cash out via Binance C2C trading: Flexible but requires caution
Method of operation:
Use Binance C2C platform to exchange USDT for Renminbi or other currencies via merchants with real-name authentication.
After the transfer is completed, withdraw the funds to a bank card.
When choosing merchants, pay attention to:
Registration time: At least 2 years of operation.
Trading volume: High and stable trading volume to avoid account freezing due to abnormal transactions.
Strictly prohibit offline transactions to avoid cash dealings or opaque channels (like Telegram) to prevent scams or robberies.
⚠️ Real case warning
Robbery risk: Offline traders have been robbed for holding large amounts of cash or USDT, even endangering personal safety.
Legal risk: Offline transactions may be classified as illegal operations, potentially leading to legal disputes, with both parties possibly being victims.
Reminder: The crypto world is full of uncertainties; invest rationally, safety first! Remember stable strategies to cope with market changes!
