How to withdraw the U in hand safely?

Mainly for users in mainland China, when exchanging USDT (Tether) to RMB, special attention should be paid to security and compliance. The following are several common withdrawal methods and their advantages and disadvantages

1. Withdraw through a regulated exchange

Using a compliant and regulated exchange is one of the safest ways. Investors can exchange USDT for fiat currency (such as US dollars, euros) on the exchange and then withdraw it to a bank account. For example, the Kraken exchange supports selling USDT for euros or pounds, with a transaction fee of about 0.2% and a low withdrawal fee.

Advantages:

• Funds are safe and secure.

• Transaction fees are relatively low.

Disadvantages:

• An overseas bank account is required.

• The withdrawal process may be cumbersome.

2. Use a peer-to-peer (P2P) trading platform

P2P platforms allow users to trade USDT directly with other users and exchange it for RMB. For example, Binance's P2P platform provides such services.

Advantages:

• Flexible transactions and fast speed.

• No overseas bank account is required.

Disadvantages:

• There is counterparty risk, so you need to carefully choose a reputable trading party.

• There may be a risk of fund freezing, so you need to comply with platform and legal regulations.

3. Apply for an overseas bank card

Apply for an overseas bank card such as Huamei Card, withdraw USDT to the card, and then withdraw or spend at a domestic ATM.

Advantages:

• Avoid regulatory risks of domestic banks.

• Withdrawals and spending are more convenient.

Disadvantages:

• There may be some difficulty in applying for and maintaining overseas bank cards.

• There may be higher fees involved.

4. Use prepaid card services

For example, the MasterCard prepaid card provided by Depay allows users to recharge USDT into the card for consumption or withdrawal.

Advantages:

• Can be bound to Alipay and WeChat, making consumption convenient.

• Avoid regulatory risks of domestic banks.

Disadvantages:

• Recharges and withdrawals may involve fees.

• Card limits and usage may be limited.

5. Through over-the-counter transactions (OTC)

Trade with trusted OTC merchants to convert USDT into RMB.

Advantages:

• Suitable for large transactions.

• Faster transaction speed.

Disadvantages:

• Carefully choose reputable merchants to avoid being scammed.

• There may be a risk of freezing of funds.

• Stay alert: Beware of the temptation of high returns