Do you think that making money in the cryptocurrency world means everything is fine? Wrong! Withdrawing funds is the real "ghost gate." U merchants scare you every day with "the bank will check" and "the account will be frozen," but they just want to earn your fees. Today, I will break down the ultimate solution for safe withdrawals, helping you avoid 99% of the pitfalls!
Diamond merchants directly advise: Find reputable bulk traders and follow compliant commercial flow. If the bank asks? Just say you are doing foreign trade or cross-border e-commerce, and you will pass easily. Remember: Don't find small U merchants! Their funding sources are unclear, making it easier for you to get burned.
1. Singapore DBS Bank Private Account
Threshold: 5 million SGD asset proof Advantages: Directly convert cryptocurrency to fiat currency without the bank asking about the source, plus you can enjoy high-end wealth management services. Suitable for: Real big players who don't want to deal with hassle.
2. Hong Kong/Overseas Account + Long-term Visa
Get a Hong Kong work visa or Thai elite visa to open an offshore bank account; funds go through compliant channels, and you won't fear police checks. Suitable for: Those who want to play with cryptocurrency long-term without constant anxiety.
Bank account freezes are minor issues; the real danger is when the police invite you for tea! The coins you bought may be clean, but how can you guarantee that the money from the person selling you the coins is clean? If their money involves fraud, money laundering, or gambling, you are committing "aiding and abetting".
The police won't listen to your explanation of "I didn't know"; the state has long stated that virtual currency transactions are not legally protected.
Operations you must avoid at all costs:
Fast in and out, instant transfers to other cards, using encrypted chat software, deleting records—these actions won't protect you; instead, they will lead the police to conclude that you are "knowingly committing a crime"!
99% of people cannot manage overseas accounts + overseas funds + licensed exchanges because the biggest challenge is how to get the money out.
Don't be greedy for small benefits, stay away from U merchants of unclear origin, and consult a lawyer before making large withdrawals. Prepare a compliant plan. The first time you are questioned by the police is crucial; one wrong word could have irreparable consequences.
Making money in the cryptocurrency world is a skill, but safely cashing out is the real skill!
