I made quite a bit of money in the crypto world. If I withdraw, will the bank question the source of the money?

If the amount is too large, they will definitely ask. I've been questioned three times.

I started trading on BitChina, but that platform is gone now. At that time, Bitcoin was only $2500. I happened to have a lot of cash while doing e-commerce.

Later, it unexpectedly rose directly to over $7000, and I withdrew. At that time, the regulations weren't strict, and the bank still asked. I answered the phone and they asked all sorts of questions, chatting for a long time about how many acres of land and how many cows, what my surname was, where I came from, and so on.

In the end, they suddenly said: 'Sir, we have a particularly good financial product that you might consider...' I was stunned.

Later, they weren’t so polite anymore. I heard about a lot of frozen accounts, so I took many precautions. In recent years, I’ve only had my account frozen once. It can be unfrozen at the counter.

Actually, to summarize, as long as you don’t touch USDT, there’s basically nothing to worry about. There’s a lot of black money involved. Funds must be cooled down. Another thing is that it’s best to convert it into dollars, and then wire the dollars directly to a foreign currency account. This is the best option. Because it has already detached from the Chinese financial system, and the domestic and foreign financial systems are isolated, the dollar appreciation cycle has additional benefits. I’ve made large withdrawals more than ten times. There hasn’t been a single problem. I can also directly spend overseas.

Here’s another secret to share with everyone: Foreign trade company accounts can bypass foreign exchange control loopholes. So, buying an established foreign trade company makes trading easier. It also allows for cross-border arbitrage.

Unified answers to everyone’s questions:

1. Why acquire a foreign trade company instead of starting one yourself?

Mainly because it's troublesome, and it’s best if the foreign trade account has established cash flow.

2. Does the foreign trade company have to have performance? Is it okay to just trade crypto?

It’s still best to have some cash flow.

3. How much profit can be made from cross-border arbitrage?

This mainly depends on the price differences between various exchanges.

4. Will there be losses?

It depends on market fluctuations; generally, you won’t lose, and you can complete an arbitrage in a few minutes. Of course, sometimes if the exchange processes slowly or the market fluctuates too much, there might be issues, but such cases are very rare.

If you have other questions, feel free to leave a comment. If you find this helpful, please like and encourage me. Thank you.