Having been a U merchant and developed U merchant courses, I am well-versed in the ins and outs of the cryptocurrency industry, and now I will detail the key points for you. If you achieve substantial earnings in the cryptocurrency market, you must not sell digital currency directly on platforms. This is because when trading on platforms, there is a high probability of encountering dirty money or suspected dirty money, which could lead to the account being stopped or even frozen.
Once there is a judicial freeze, the situation becomes more complex: if it involves first-level dirty money and the amount is huge, the risk of facing legal sanctions and imprisonment is extremely high; for second-level dirty money transactions, if there is insufficient evidence for selling U, or if the transaction price significantly deviates from the normal market level, one may also end up in jail. Even if the amount involved is only tens of thousands, it will generally be frozen for six months. The unfreezing time depends on the nature of the funds. If the funds involve serious illegal activities such as gambling or drugs, not only is the hope of unlocking the funds bleak, but the assets may also be confiscated; if it involves fraud funds, the final result may require compensation of some amount, or the account may be continued to be frozen for another six months. Therefore, it is crucial to remember not to sell on platforms and not to trade with strangers whose transaction account names do not match their actual identities.
So, how can one safely cash out? I recommend exchanging with trusted friends within familiar small circles of the cryptocurrency community. During this process, pay special attention to whether there is a 7-day settlement period for the funds, and refuse exchanges with unfamiliar individuals. Additionally, you can apply to become a merchant yourself, as becoming a merchant allows you to check transaction records. When trading, require the other party to provide screenshots of the fund flow; however, be aware that screenshots can be manipulated, so carefully compare them with the actual situation. If you find that the account name does not match the actual situation, or if there are suspicious aspects in the screenshots, you must immediately return the funds along the original route and not harbor any lucky thoughts. The methods mentioned in the market for cashing out through Mastercard, Hong Kong cards, etc., are feasible but come at a high cost, with handling fees typically ranging from 1% to 2.5%.
If you can accept this fee, many people will naturally be willing to provide you with clean funds, so it is not necessary to go through a lot of trouble to apply for a Hong Kong card, a Wancard, etc. Regarding the handling of funds obtained from the cryptocurrency market, as long as the earnings are made through legal trading methods and the flow of funds is clear and traceable, depositing amounts under 100 million into a bank is not a problem. However, if the scale of funds exceeds 100 million, the situation becomes relatively complicated and must be handled with caution. In the unfortunate event that the account is frozen, the first step is to inquire at the bank to determine the unit that froze the account and clarify whether it is a temporary stop payment or a judicial freeze.
A temporary stop payment usually lasts for 3 days, but if the situation is special, it may be delayed or subjected to rolling freezes. If it is a judicial freeze, calling the case handler often results in a poor attitude; the other party may require you to cooperate in the process. I solemnly remind you not to go lightly; for the sake of a few tens of thousands of funds, traveling to another place could easily lead to being detained. Listen to me, do not act impulsively; it may be wise to wait for six months. After all, even if it's just a 7-day detention, this experience can be extremely painful.
I am Yan Sri, a senior veteran in the investment scene; follow me for sharing spot contract strategies.
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