Started doing online OTC in 2021, currently with a total trading volume of 221 BTC, averaging 2-3 BTC per month. So far, I have been under risk control for 3 days once but have never had my account frozen. I see many friends in the circle love withdrawing funds from exchanges but often have their accounts frozen, so I share some OTC insights. If you like this, please like and follow. If the response is good, I will provide more rule teachings.
Below, I will explain with several dimensions and provide cases. Although I cannot guarantee 100% safety, it will at least make your withdrawals from the exchange safer than others.
First, withdrawal platform: The preferred exchange is Binance. It's not that others are bad, but other exchanges have less OTC, which will reduce safety. At the same time, Binance has the Shield. Merchants with large sums + the Shield require a 100,000 USDT margin, while some can operate with a 30,000 USDT margin now (so if your amount is extremely large, be sure to distinguish clearly).
Second, OTC merchant data one: Merchant names. Currently, there are many merchant names like XX trading company, etc. These are generally studios engaged in OTC, and these are not individuals. The probability of a studio encountering issues is higher than that of individuals. Also, some names like XX old merchant, XX 3-5 years merchant, etc., need to be particularly noted. Do not judge the safety of withdrawals based on names.
Second, OTC merchant data two: Merchant transaction data.
1. Merchants within 365 days do not conduct bank card transactions, and merchants within 180 days do not conduct Alipay and WeChat transactions. (The above refers to transaction duration, not account creation time).
2. The number of completed transactions. Do not trade accounts that only buy and do not sell. If they only buy, it indicates a receiving account, with fixed funding channels --- which increases the probability of insecurity.
OTC merchant data three: Merchant transaction duration.
If withdrawing U to receive funds, pay attention to the merchant's average payment time over 30 days: times less than 3 minutes are the safest, while times greater than 5 minutes are unsafe. Because funds deposited in Binance's real-name accounts can generally be completed within 3 minutes. If it exceeds 5 minutes, there is a high probability that funds are first transferred to the Binance trading card before being sent to you. Note: Do not consider those with a transaction rate lower than 95% (because many below 95 will say that Alipay or WeChat are restricted and ask if they can use family members' accounts - this increases the probability of insecurity).
Summary: For funds greater than 300,000, remember to find Binance Shield, merchants with more than 100,000 USDT pledged. For less than 300,000, withdraw in batches via Alipay or WeChat, keeping Alipay under 100,000 per day for safety, and WeChat under 50,000. Find merchants that meet the above requirements, and your chances of being frozen will be greatly reduced. Many third-party funds, BC materials, or other funds cannot satisfy the above data for withdrawals, so the probability of encountering issues will be greatly reduced. Finally, I wish everyone wealth in the crypto world.
