Earned 1 million, congratulations! But withdrawing money safely from the crypto world (cash out) might be harder than making money. Be careful of getting your card frozen, being scammed, or even worse. Remember these methods, especially for beginners:
1. Make a trip to Hong Kong to exchange for cash (suitable for those who can go)
How to do it: Take your USDT to Hong Kong and find a local money exchange shop (look for one that has been open for a long time and has a good reputation) to exchange for Hong Kong dollars or Renminbi.
Key points:
Don't exchange everything at once: Do it in multiple trips and exchange a small amount each time (for example, a few tens of thousands each time) to reduce risk.
Don't carry large amounts of cash across the border: It’s easy to be checked, and the risk is high. Store the exchanged money in your card or spend it.
Find reliable shops: Check the reputation of the shop to avoid being scammed by shady stores.
2. Use an overseas bank card to receive money (the safest, but requires preparation)
How to do it:
1. Transfer USDT from Binance to a foreign exchange like Kraken.
2. Sell the USDT on the exchange for US dollars (USD).
3. Withdraw the money to your **pre-arranged overseas bank card (such as ZhongAn Bank in Hong Kong, or banks in Singapore, the US, etc. that support receiving money from cryptocurrency sales).
Key points:
The card needs to be prepared in advance: This is fundamental! Without an overseas card, this route won't work. Ensure the bank account is functioning normally.
Check exchange rates and fees: Different platforms and banks charge differently, compare prices to avoid excessive deductions.
Overall low risk: As long as the operations are compliant, this is a relatively stable and safe method.
3. Find someone to buy on Binance C2C (commonly used, but be very careful)
How to do it: In the C2C trading area of the Binance app, list your USDT for sale. Verified merchants will buy with Renminbi (or other currencies). Once the money reaches your linked bank card, the transaction is complete.
