After earning ten million in the crypto world, this is the safest way to cash out!
After making ten million, cashing out safely is harder than making money! A little carelessness can lead to your bank card being frozen, or worse, getting involved in a money laundering lawsuit. Today, I will teach you two legal and low-key methods to cash out, avoiding 99% of the pitfalls!
Currently, mainland China has explicitly banned virtual currency trading, and overseas platforms providing services to residents within the mainland are also illegal. If you receive illicit funds during the cash-out process, your bank card will be frozen, and you may even need to prove your innocence and return the funds. Transfers exceeding 500,000 will attract the bank's risk control and require proof of income source.
First method: Cash out in batches, operate discreetly
Split into smaller amounts: Break down ten million into 100 transactions of 100,000 each, selling in batches through Binance OTC over 3-6 months to avoid triggering the bank's large transaction risk control.
Choose “whitelisted” merchants: In the Binance OTC selection area, filter for “Blue Shield Certified” merchants, check transaction records and credibility ratings, and prioritize merchants with high trading volumes and few negative reviews.
Overseas account transition: Use a bank account in Hong Kong or Singapore to receive funds, then transfer them back to the mainland in batches through legal channels, avoiding direct association with crypto trading.
For example, in 2024, someone sold 5 million USDT through Binance OTC in 30 transactions of 150,000 to 200,000 each, receiving payments in a Hong Kong HSBC account, and then transferred back to the mainland in batches under the name of “cross-border trade payments,” without triggering any freezes throughout the process.
Second method: Offline exchange in Hong Kong, legal and compliant
Bring your ID and crypto wallet to a compliant exchange store on the streets of Hong Kong (such as chain OTC stores in Central) and sell USDT for HKD on the spot.
Request transaction receipts and tax payment proof (Hong Kong taxes virtual currency transactions at 15%) to prove the legitimacy of the funds.
After depositing HKD into a Hong Kong account, transfer it back to the mainland annually through the 50,000 USD foreign exchange limit under the name of “personal savings” or “overseas investment income.”
It is important to note that Hong Kong will soon implement licensing regulations for OTC, and unlicensed stores may be banned after 2025, so take advantage of the window period to operate. Avoid choosing “zero KYC” small stores, as there have been users who were investigated due to the exchange stores being involved in money laundering.
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