Now, supervision is becoming increasingly strict, and many people encounter risk control, freezing, or even legal troubles when cashing in and out. This can be quite discouraging; it’s hard to earn some money from the market, only to be troubled by these issues.

In the cryptocurrency world, 90% of people have assets below 100,000. As small retail investors, we certainly can't run to Hong Kong to exchange money at offline stores, engage in large transactions, or apply for a Mastercard or open a Hong Kong account as some bloggers suggest. Firstly, we lack the energy, and secondly, we don't have much money to withstand such hassle.

Based on my own experiences and the suggestions given by several experts yesterday, I would like to share a few practical cash-in and cash-out tips for fellow small retail investors.


First, find a vendor on Binance with a long-standing account (over a year); the longer, the more reliable.


Second, choose merchants that have a mixed user base, meaning they list both buying and selling U, and have thousands of transactions; such merchants are relatively stable.


Third, always trade within the platform to ensure the safety of your funds. Don't fully trust a trader just because you have traded with them a few times and they promise to trade off-platform. Off-platform trading not only risks paying money without receiving U but also has a hidden risk where the trader transfers U from their own wallet, making it hard to clarify the source of those U, leading to potential problems.


Fourth, when buying U, nowadays, merchants rarely use their real-name accounts registered on Binance for payment; most will send you others' accounts to transfer to. This situation is generally acceptable, as it’s now the norm, and if you don’t accept it, it’s hard to complete the transaction. Personally, I haven't found any merchants still using registered real-name accounts for receiving payments. However, if a merchant asks you to pay through Alipay's small wallet, you need to be cautious, as there are too many payers here, and it’s inevitable that dirty money gets mixed in, posing a risk.


Fifth, when selling U, you must ensure that the merchant transfers using their real-name account registered on Binance; only then can you receive it. If they use other accounts, it is likely dirty money, and you can directly refuse.


Sixth, prepare a bank card from a niche bank specifically for receiving money, such as a local city commercial bank, as these banks have relatively relaxed risk controls. Do not use this card for mortgage payments or other purposes, so that if it gets frozen, it won't affect your normal life. Moreover, the risk control for bank cards is looser than that of Alipay or WeChat; we each have only one WeChat and Alipay account, but we can open multiple bank cards. Losing one card is much better than losing a WeChat or Alipay account.


Seventh, don't exceed 50,000 in a single cash-in or cash-out transaction; generally, 30,000 to 40,000 is fine. 50,000 is a risk control threshold for banks. Also, don't exceed 500,000 in total cash-in and cash-out in a month, as this is also a starting point for bank risk control supervision.


The above are my summarized methods to avoid cash-in and cash-out risks. If any experts have better suggestions, feel free to add them in the comments. Thank you. I wish everyone profits when buying coins!

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