I. Choosing the right platform is the first step
Having been in the crypto space for 6 years, I've seen too many people get their cards frozen due to choosing the wrong platform for withdrawals. Last year, my friend made 300,000 at a small exchange, but after a single large withdrawal, his bank card was frozen, and the money is still stuck.
Reliable platforms should adhere to two points:
1. Must have a legitimate license, such as Binance's MSB license
2. The platform should have been operating for at least 2 years
II. Withdrawals should be done with method
I have summarized a set of 'Ant Moving House' withdrawal methods:
1. Single withdrawal amount should not exceed 1/5 of daily flow
2. A maximum of 2 withdrawals per week
3. Each withdrawal should be at least 48 hours apart
III. Asset management must be cautious
My asset allocation plan:
80% kept in cold wallet (recommended: Ledger)
15% kept in exchange
5% kept in hot wallet for immediate use
Special Attention:
1. Withdrawal bank cards should be separately processed
2. Do not bind to salary cards or mortgage cards
3. Transfer most funds within 24 hours after arrival
IV. Common Pitfall Reminders
1. Withdrawals from small platforms
2. Operate after 10 PM
3. Concentrate withdrawals during holidays
4. Frequently changing receiving accounts
Remember: In the crypto space, being able to withdraw money safely is a true skill. Making money is important, but safely withdrawing funds is even more crucial. These experiences cost me 6 figures in fees, and I hope they can help everyone.
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