In the context of high withdrawal risks in the cryptocurrency market, in order to avoid account freezing due to issues with the source of funds, the following is a detailed introduction to a relatively safe and reliable withdrawal method, including specific paths, preliminary preparations, operational steps, and related fees.
1. Withdrawal Path
The entire withdrawal process is as follows: first transfer USDT (U) from the exchange to the Kraken exchange; then exchange U for fiat currency such as US dollars (USD) or euros (EUR) on Kraken; next, transfer the exchanged USD or EUR from Kraken to WISE account or Zhong An Bank (ZA); finally, transfer the funds to domestic bank cards, WeChat, or Alipay through WISE or ZA.
2. Preliminary Preparations
(1) Register a Kraken Account (For more information about Kraken exchange, you can search through Google.)
First, visit Kraken's official website to register an account. After registration is complete, real-name authentication is required, which can be done directly using a Chinese ID card or passport for KYC verification. It is particularly important to fill in the information in English to ensure consistency with the WISE account information to avoid mismatches.
(2) Register and Activate a WISE Account (You can also use a Chinese ID card or passport for KYC verification.)
After registering the WISE account, you need to transfer 20 USD from a Hong Kong bank card to this account to complete the activation. You can search Google for specific activation tutorials.
(3) Open a Hong Kong Virtual Bank Account
When going to Hong Kong to open accounts with HSBC and Bank of China Hong Kong, it’s also a good idea to open accounts with virtual banks like Zhong An Bank (ZA) or Li Hui Bank on your phone. During the opening process, you need to connect to a Hong Kong network and upload immigration records; the operation is relatively simple, and detailed tutorials can be found through Google.
3. Specific Operations and Fees
(1) Obtain Blockchain Network Address
First, select to withdraw USDT from the exchange; different amounts and corresponding transfer networks will display different processing fees. For example, choosing the Optimism transfer network incurs a fee of 0.29U for a 50U withdrawal. You can choose a network with lower fees based on the preview on the withdrawal page of the exchange.
After logging into Kraken, click the icon in the middle of the app's main page with two arrows, which will pop up options such as buy, sell, convert, deposit, and withdraw; select deposit. On the deposit page, since it is a transfer of USDT from the exchange, select USDT as the token to deposit.
Then you will enter the page to select the transfer blockchain network, where various networks such as ETH, ARB, OP, Polygon, Solana, Tron will be displayed, along with their arrival times and minimum transfer amounts. It is important to note that the selected transfer network must be consistent with the network chosen previously at the exchange.
For example, if you select the OP (Optimism) network in Kraken, a blockchain address for the transfer will be generated. Copy and paste this address into the withdrawal page of the exchange, ensuring that the network selected for withdrawal is also OP. After entering the corresponding amount, click withdraw to transfer the USDT from the exchange to Kraken.
(2) Currency Exchange
Once in Kraken, use the convert function to exchange USDT for US dollars (USD) or euros (EUR). It is recommended to convert to euros, as the fee for withdrawing euros from Kraken to Wise is only 1 euro per transaction, while the fee for withdrawing dollars is 13 dollars, making the euro fee lower.
(3) Kraken Withdrawal
If withdrawing to Wise, first add euros to your account in the 'Add another currency to your account' section on the Wise homepage to open a euro account. After opening, enter the euro account, click 'More', then click 'Receive', and select 'Your EUR account details' to see the BIC code, IBAN, and Wise address information.
Select withdraw in Kraken, choose euros as the currency for withdrawal, select Bank Frick (SEPA) as the withdrawal method, then fill in the Wise euro account address and other relevant information. Confirm that everything is correct before choosing to withdraw.
If you want to withdraw to ZA, the process is similar; just fill in the ZA account's payment information during withdrawal in Kraken.
One major benefit of Wise is that it allows you to directly convert US dollars and euros to RMB, and then transfer to domestic bank cards (with a maximum single transfer amount of 18,000) or Alipay accounts (with a maximum single transfer amount of 50,000). The entire process incurs a fee of approximately 1%-2%.
Finally, it is important to remind you that investment carries risks, and caution is necessary when entering the market. The above methods are for reference only. Please be vigilant in cryptocurrency withdrawal operations to ensure the safety of your funds.

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