Recently, I've seen many old coin dealers bringing people into the business

Tuition fee is 100,000 to 150,000 per person, claiming a profit of 50,000 to 100,000 a month.

Many newbies ask me if it’s reliable, and I just want to say:

1. First, you need to have enough capital to support your operations.

With a tuition fee of 100,000 to 150,000, you also need to pay a platform deposit of 10,000 USDT. You should have several tens of thousands as working capital, which means you need to invest over 200,000 in liquid capital initially.

2. Relevant legal risks.

Being a coin dealer should be considered a high-risk industry. The probability of receiving black funds in a single transaction being investigated by authorities is indeed low, but with many transactions, even if you conduct a serious review, you might still receive secondary black funds. Furthermore, it depends on the professionalism of the authorities you encounter. I have friends who seriously verify real-name authentication before transactions and check transaction flows, yet they still received black money and were presumed to have subjective knowledge of concealment, receiving a suspended sentence. There are many similar cases that can be found online.

3. Risk control of your own account.

Generally, WeChat, Alipay, and bank cards all have risk controls. After receiving a few transactions, they will impose risk controls, making it hard to conduct a large volume of transfers in a month. This is a common issue for most coin dealers today, but older dealers have accumulated old customers, which can slightly alleviate this. Never engage in so-called channel IP whitelisting! Never engage in so-called channel IP whitelisting! If caught, it is a direct evasion of risk control and can lead to severe penalties!

In summary, being a coin dealer is doable, but good risk management and self-assessment of your capacity are essential. Most people now treat it as a side job, and the returns are not as high as a few years ago. Risks and returns coexist, but overall, I feel that the cost-effectiveness is not high.

One more thing, when everyone is teaching you to do this and saying it’s profitable, they often just want to take your money. #币安钱包TGE