Earned a million in the crypto world, ready to cash out?

Earned 1 million, ready to cash out? Especially for beginners, this guide is a must-save!

1. Cashing out in Hong Kong: Make a personal trip

Operation method:

Go to Hong Kong and exchange USDT or other crypto assets for Hong Kong dollars or RMB at local exchange points.

It is recommended to cash out multiple times in small amounts to reduce the possibility of being noticed or triggering risks.

Avoid carrying large amounts of cash at once to prevent trouble.

Carefully select reputable exchange shops to avoid risks such as 'taking the coins and running'.

2. Cashing out via overseas bank cards: Safe but requires preparation

Operation method:

Transfer USDT from Binance to trading platforms like Kraken and convert it to USD.

Withdraw to an overseas bank account, such as Zhong An Bank or other banks that support crypto transactions.

Precautions:

Obtain an overseas bank card in advance to ensure smooth fund withdrawal.

Pay attention to exchange rates and fees to minimize profit loss.

Overall risk is relatively low, but compliance with account usage must be ensured.

3. Cashing out through Binance C2C trading: Flexible but requires caution

Operation method:

Use the Binance C2C platform to exchange USDT for RMB or other currencies through merchants with real-name authentication.

After the transfer is completed, withdraw the funds to a bank card.

When choosing a merchant, pay attention to:

Registration time: At least 2 years of operation.

Transaction volume: High and stable trading volume to avoid account freezing due to abnormal transactions.

Strictly prohibit offline transactions to avoid cash transactions or using opaque channels (such as Telegram) to prevent scams or robberies.

⚠️ Real case warnings

Robbery risk: There have been offline traders who were robbed for holding large amounts of cash or USDT, even endangering personal safety.

Legal risk: Offline transactions may be classified as illegal operations, potentially leading to legal disputes, where both parties could be victims.

Reminder: The crypto world is full of uncertainties; invest rationally, and safety comes first! Remember to adhere to a prudent strategy to cope with market changes!