Regarding this topic, I think I should have a say.
In May 2020, I made a transaction in oil on a certain platform, and at that time it went into my card. Then I stored it separately to a certain V and a certain support. A few days later, when I went to the supermarket to buy something, I found that third-party payments were not possible, and my bank card couldn't be used either. This was a frozen card incident! The serious part was that the third-party accounts were also frozen!
Fortunately, I have never been involved in any improper activities, I only traded cryptocurrency for USDT, so I contacted various phone numbers to reach out to Anhui, where my uncle told me there was an SA transaction, which led to my various cards being frozen, and he suggested I handle it locally. It was during the pandemic, and my uncle didn't force me to go across provinces, but first asked me to provide a document explaining the situation.
So I sent my trading records with OTC vendors, chat logs, including my cryptocurrency trading records and work flow to my uncle, after all, we have nothing to fear when we are upright.
I initially thought these materials could prove that I had no issues at all, but when it came time to unfreeze my account, my uncle said that compensation was needed for the victims. This means that my amount would have to be compensated, as cryptocurrency trading is not protected. At that time, I still had other money in my card, and feeling helpless, I could only blame my bad luck. So I agreed with my uncle's statement. In the following days, everything was resolved.
In the following years, I was extremely cautious and accumulated some experience to share with everyone.
If possible, I recommend getting a Mastercard Hong Kong card. Although there is a threshold, it truly achieves zero freezing. Many big V influencers are using it, and I have also used it for a long time.
If you choose to withdraw USDT through a traditional exchange, you must audit the vendor's funds, especially for large amounts, and you must check whether the vendor's funds have been settled, usually requiring at least three days! During transactions, be sure to clarify with the vendor that you only accept real-name transactions, and if it's not a real-name transaction, report it. For your own safety, keep some written evidence, and don't be afraid of trouble!
Another method is to withdraw offline, but you must know and trust the other party very well. The issues encountered offline cannot be clarified in just a few words. Unless there's trust, this route is not suitable for ordinary people.
Cryptocurrency trading itself is not protected, and when withdrawing funds, one needs to be extra cautious. I believe that the Mastercard Hong Kong card is currently the best choice. Its user base generally consists of international students, cryptocurrency players, or those with credit restrictions involved in foreign trade. Its downside is that it incurs transaction fees, but compared to safety, the fees are negligible. You can think of it as a card for use abroad. If you have questions, you can communicate anytime.
