I often see posts about applying for Hong Kong cards for withdrawals, treating C2C withdrawals as a monster, as if you could easily get your card frozen. I want to ask, have you ever withdrawn through Binance C2C? How many times have you withdrawn each year? How large were the amounts? How many times were your withdrawals frozen? Just copying and pasting some text to mislead is not a responsible attitude.

As an ordinary small investor, if your annual withdrawal amount does not reach 10 million RMB, there is really no need to use a Hong Kong card or other foreign cards. You can just use Binance C2C; this way is not troublesome and incurs no losses.

I will repost last year's original post; friends who need to withdraw can bookmark it.

Original post title: C2C Withdrawal Experience

Original post content (with edits):

As a veteran in the cryptocurrency world, I need to withdraw 200-500k annually to make a living, so I'm sharing some experience on withdrawals in crypto. Here are the key points:

1. The platform is Binance, a large exchange with guarantees.

2. Choose merchants who have been engaged in C2C transactions for a longer time (at least three months or more), and with a considerable number of transactions, at least several hundred. They know how to avoid control by the regulatory authorities.

3. It's not necessary to choose the highest price; a little less is fine. High-priced offers are often from new merchants, aiming for high volume with low profit. Some might just be starting this business, or they are old merchants trying new tactics to expand their business. After all, real-name payments are required, and each card has a limited payment capacity. Mainly, check if it conforms to the second point.

4. Withdrawal times should be during working hours on weekdays. In 2021, I had a withdrawal of 100k that was made at night on a trading platform, and it was frozen the next day, and it still hasn't been resolved. If you encounter black money, there's nothing you can do but accept the loss.

5. After placing an order, leave a message for the merchant: 'Please make the payment with real-name verification; I will confirm as soon as the funds arrive.' After the funds arrive, definitely log into your mobile banking to check the details to see if they match the payer on the C2C order. If it is not a real-name payment, even if the money arrives, it should be refunded without any explanations, such as exceeding card limits or using family members' cards.

6. The receiving card must not be one that has been unused for a long time or has a zero balance. Suddenly receiving a large amount can easily lead to risk control. My approach is: each receiving card has a balance of one or two hundred, is linked to WeChat Pay, and I use each card in rotation for purchases at any time. Additionally, banks now monitor bank cards that haven't had any transactions for more than six months, suspending online banking usage, which requires you to go to the bank counter for a face-to-face verification. This is a new bank regulation, just go.

7. Never test with small amounts, as this is the easiest way to get flagged by risk control!!!

"If a bank card is usually unused, you can first test if the card has any issues with online banking by transferring one or two dimes to it, then transferring it out. If the card works fine, then proceed with large amounts."

The above behavior is just small amount testing. This was told to me by a senior bank employee. In such situations, the issuing bank usually won't intervene, but it is the easiest to be monitored by the People's Bank, even if it's not black money. Being monitored does not necessarily mean being flagged, but there is a certain probability of being flagged.

8. The withdrawal amount should be based on your scale:

A. If it's a few tens of thousands, there's no need to split it into batches, and no need to find a blue shield. Just follow the above steps 1-6.

B. If it's a large withdrawal, such as hundreds of thousands to millions, and is urgent, it's best to find a blue shield. Although the exchange rate might be lower, there usually won't be any issues.

C. If the amount is large and not urgent, and you have several bank cards, you can alternate receiving payments with each card, receiving tens of thousands each time. After receiving a payment, do not move the funds for 2-5 days, then transfer to your main card. You can also transfer to the main card after receiving payments twice. Depending on your capital, you can have 1-3 main cards, but they should not receive payments directly. For example, with 10 cards, receive payments with each card every 2-3 days or 4-6 days, with each payment being 50-100k. This way, you can withdraw 500k in a month. Additionally, the amount received and the duration for each card are not fixed.

The above content is based on my years of withdrawal experience. I personally feel that going through U cards and sea monsters is really unnecessary; it's not only troublesome but also has significant losses. If you have hundreds of thousands, is it worth making a special trip to Hong Kong? If you're traveling and want to apply for a card while there, don't forget to make an appointment in advance; some banks in Hong Kong require a 7-day advance reservation. (Attached is my personal C2C transaction record for the past year)

Finally, I advise everyone that the cryptocurrency world is a gold mine but also a graveyard. When participating in crypto, maintain a calm mindset. A decade or even a few years ago, there were indeed many myths of overnight wealth, but that's no longer very likely unless you have extraordinary abilities or luck. The development of anything has diminishing returns, and at a certain stage, infinite expansion is impossible. However, the crypto world is still a good track, with more opportunities than traditional industries in today's society. For instance, if you seized the opportunity when Trump issued a coin earlier this year, or with the current points system, feel free to take advantage of it; it’s like a regular white-collar job.
#c2c出金 #C2C交易