(OTC Knowledge Base) How to safely and smoothly buy USDT from exchanges
Many family members often tell me that buying USDT is difficult. There are skills to successfully buy USDT at a cheaper rate on the exchange. The longer your funds stay in the card, the better. OTC merchants, in order not to receive dirty money, have their own review requirements. The first step is the sedimentation time of the funds in the card. Those who frequently deposit and withdraw will fail the first step of the review. Normal behaviors such as daily consumption are easier to pass, and providing a long-term financial product trend chart of the same bank card will also score points. Start buying from the lowest price, and quality transaction details can easily help buy USDT at the cheapest market price. Of course, the OTC merchants selling the cheapest also have the most stringent reviews, including video verification of transaction details, WeChat withdrawal verification, KYC real-name authentication, signing contracts for buying and selling USDT, etc.
Buying USDT involves transferring money to others, but there is also a possibility of freezing, known as protective freezing. This usually happens when the recipient is involved in fraud, money laundering, or online gambling. The authorities take measures to protect the safety of your funds. Of course, encountering problems is not a big deal; when buying USDT, try to filter OTC merchants, opting for those with longer registration times and real-name acceptance to avoid protective freezing, as it is originally a low-probability event.
How to safely withdraw funds from the exchange
Three key factors for withdrawals: #Binance and #OKX exchange trading, strict review of merchants (registration time of over two years, the more total transactions, the better; fewer transactions in the past 30 days are preferable), both parties should be real-name payments. This will significantly reduce the likelihood of freezing. Even if you are unlucky and get frozen, the subsequent unfreezing process will generally be easier. Avoid transactions not going through the exchange; avoid offline cash transactions; avoid TG chats—WeChat doesn't even dare to discuss transaction details; do you dare to take this money? For extreme safety, you can find me for withdrawals. I have had no freezes in my time in this business, and while some say my prices are low, many long-term clients only trust me. You have the freedom to choose your transactions, and my WeChat is available on my Twitter profile.
How to avoid bank risk control for large withdrawals?
Besides the most important freezing issues, the remaining concern is bank risk control. OTC merchants can only guarantee the safety of your funds, but they cannot ensure whether the bank will impose risk control. Bank cards that have not been used for a long time or have very little transaction flow are indeed statistically more likely to be subject to bank risk control, but these are all low-probability events. Many transfers of over one million have never reported issues, but we have encountered clients whose 70,000 yuan transfer triggered bank risk control. However, even if risk control occurs, it can be resolved easily with the sender's cooperation. Most bank risk controls are designed to protect the sender's funds and prevent them from being involved with fraud or money laundering. You should also avoid quick in-and-out transactions, multiple deposits followed by a single withdrawal, one deposit followed by multiple withdrawals, large late-night transactions, etc., as these could easily trigger the bank's anti-money laundering controls. If conditions permit, keep some balance in the card or buy some financial products, and there's no need to withdraw a very large amount all at once.
What should OTC merchants pay attention to?
I have encountered countless newcomers wanting to become OTC merchants to make money, but I do not recommend newcomers entering the industry. The OTC market is deep and full of temptations, and many people easily fall into traps. I can only provide guidance. First, you must ensure that you do not receive dirty money 100%. If you cannot achieve that, do not touch OTC. One hundred OTC merchants have one hundred different practices, and not receiving dirty money relies on review requirements. You need to be able to read transaction details to prevent falsified images, as some recordings may show you a fake banking app; KYC real-name authentication; signing contracts for buying and selling USDT; providing customers with risk safety tips; confirming the real purpose of customers buying USDT; verifying trading account funds; checking the fee verification for contract trading, and so on. Secondly, how to solve bank card transaction issues. Many people find themselves unable to use their cards, and using friends' or family members' cards is not recommended (it will only implicate them). Some also use Taobao payment, Alipay password red envelopes, and other methods. I sometimes admire how creative these people can be. Of course, many large transactions do have some relation to banks, or you can buy several hundred thousand or millions in financial products to become a VIP.
Is it safer to make multiple small withdrawals?
Dirty money does not differentiate based on the amount; whether it is five hundred, fifty thousand, or five million, it will be frozen. Multiple occurrences will only increase the probability of receiving dirty money. It is generally recommended to plan out the funds you need to use over a certain period and choose a safe OTC merchant to withdraw all at once, reducing the frequency of withdrawals.
Is offline cash trading or cash transfers safe?
Currently, cash-related incidents are increasing, including robbery, counterfeit money, fake USDT, and various scams. Additionally, with cash transactions, you cannot know the source of the funds. If the person who gives you cash runs into trouble, you will also be implicated. In the event of trouble, it will generally be one hand dirty. In recent years, there has been a trend where authorities encounter individuals who communicate about transactions using TG chat software, only accept cash, or engage in on-site withdrawals. These behaviors are considered abnormal, and it is presumed that the individuals subjectively know or could know that the cash involved might come from illegal funds, constituting subjective knowledge. Courts typically rule under charges of aiding and abetting cybercrime and concealing or disguising the proceeds of crime. I strongly advise against choosing offline cash or cash transfer transactions.
Is it safe to immediately pay off credit cards, buy financial products, and transfer to a securities account after withdrawing?
Having this operation is an act of lacking confidence in your newly withdrawn funds. First of all, a credit card is similar to a bank card and can be used directly for withdrawals. However, receiving dirty money can lead to freezing, and when funds are illegal, there are still aftereffects and other issues. If your card is frozen after purchasing financial products, how can you withdraw the money from those products? Even if the card has no money after being frozen, you may still face visits, being placed on a blacklist, or being involved in fraud cases, etc. If there are issues with money transferred to a securities account, the bank card will still be frozen. Authorities can also issue letters to freeze your securities account. All actions after the withdrawal are in vain; not receiving dirty money is the fundamental principle. After receiving dirty money, no matter how you operate, it is in vain. Do not underestimate the authorities.
Is it safer to use WeChat or Alipay?
WeChat, Alipay, and bank cards are completely indistinguishable and can all be frozen. Moreover, the risk control of WeChat and Alipay is even more extreme. Their big data risk control is stricter than that of banks. Our team has always used bank card transactions and never used WeChat or Alipay. Also, you may not be able to clearly identify whether a WeChat or Alipay transfer is a real-name transfer.
Which exchange is safer for withdrawals?
#Binance and #OKX have no difference in my opinion. When withdrawing funds, you are simply using the exchange platform to choose OTC merchants. The essence is a C2C transaction between you and the OTC merchant. The safety of funds completely depends on your trading counterpart. Many OTC merchants are merchants on both exchanges. Regardless of whether you order from Binance or OKX, you are receiving the same money from their card. However, smaller exchanges can be excluded, as their platform risk control cannot compare with Binance and OKX. Additionally, the risks associated with smaller exchanges are limitless, including issues such as information retrieval later.
How long can funds be left in a card after withdrawal to prove absolute safety?
There is no absolute safety in OTC funds; there is always a possibility of freezing in theory (unless it is not cryptocurrency funds). Under what circumstances will the police freeze a card? After a victim reports, they will immediately stop payments and freeze all cards that the victim's funds have passed through. Sometimes, one case can freeze thousands of cards. The freezing time depends on when the victim reports. Some scams may let the victim discover they have been cheated only after six months or a year. Therefore, even after completing a withdrawal, there is still a possibility of being frozen months later. Generally, if it exceeds three days or a week, the likelihood of freezing is much smaller.
Is it better to withdraw funds using the big four banks or local banks?
In my opinion, there is no difference between any bank cards. After receiving dirty money, the authorities can freeze them with one click. The only difference is that each bank's risk control system is different. There are some variations, but risk control is not significant. The worst outcome is withdrawing money and canceling the card. The main point is to not receive dirty money to avoid freezing. Do not use your mortgage card, salary card, or social insurance card for withdrawals, as issues in the future could affect the normal use of these cards. If conditions permit, choose to open accounts at the head office, branches, or financial centers.
(Detailed Explanation of OTC Frozen Card Handling) The causes and consequences of frozen cards.
In 2020, to combat online gambling, telecom fraud, and other cyber crimes, and to eliminate the money laundering pathways of criminals, the country launched the 'Clean Network Campaign' and subsequently the 'Card Disruption Campaign' to crack down on illegal activities such as the buying and lending of phone cards and bank cards. Consequently, numerous netizens and search platforms saw various queries like 'Is my bank card frozen?', 'Is my bank card frozen for six months?', 'Is my bank card frozen by the police in another location?', 'Will my bank card be frozen if I just play online gambling?', 'Why is my bank card frozen after withdrawing from the exchange?', etc. This led many people with frozen cards to feel confused and anxious about how to deal with such situations. The inherent attributes of blockchain and virtual currency have also been exploited by criminals, making the cryptocurrency sector a heavy disaster area for frozen cards after online gambling. As of today, the high-pressure policies at the policy level remain severe. Many online gamblers have completely quit gambling after their cards were frozen, which underscores the correctness of the Clean Network Campaign and the Card Disruption Campaign, protecting the legitimate assets of many ordinary individuals.
Basic situation of freezing
Freezing bank cards can be roughly divided into two situations: one is for three days (emergency stop payment), and the other for six months. Within three days, whether it is 48 hours or 12 hours, it counts within that three-day timeframe. The bank clearly states that it can be unblocked in three days, and you don’t need to do anything; just wait. Each bank has different unblocking times. For example, for China Construction Bank, if they say it will be unblocked on the 12th, the actual unblocking time is usually the 13th, which is a day later than expected. There are also other banks, like Agricultural Bank, which will unblock after 10:30 PM on the unblocking day. Many banks do not need to be listed one by one; just wait for the corresponding time.
There is also a situation where if the card is not unblocked after three days, and then you ask again, it may get frozen by another police unit. This is the situation of multiple police units freezing the same funds. A sum of money being frozen by multiple police units is much more troublesome to unblock than being frozen by one. Each police unit must unblock you, and if one suddenly freezes your account for six months, you need to check the follow-up on how to handle the six-month freeze. This is regarding the three-day freeze group; the three-day freeze is more of a psychological torment, anxiety, and helplessness. Anyone who experiences it for the first time will feel this way. I have encountered fans whose funds were simultaneously frozen by dozens of different authorities, related to scams, with many reportees from different locations.
Besides a three-day freeze, there is also a six-month freeze. First of all, it must be made clear that anyone frozen for six months has definitely received dirty money from a C2C transaction with the exchange at some point. Authorities will not freeze your card for no reason; it must be that a victim has reported it. The authorities will follow the money trail and begin freezing cards. In some cases, freezing thousands of cards is quite normal.
Those frozen for six months want to know what the situation will be like after half a year, whether it will continue to be frozen or automatically unfreeze. No one here can give you an accurate answer because there are too many aspects and key points involved; too many factors affect the direction of the card, such as different places, different case handlers, levels of received funds, etc. Different handling methods can lead to different results. In fact, after being frozen, it is more about luck.
After being frozen, what should be done? Those frozen for six months are advised to immediately inquire with bank staff about the freezing duration, freezing unit, and contact details of the freezing unit. If you can't reach them by phone, go to the counter to ask. If there are no contact details, they may tell you to contact a certain out-of-town police agency and call 110 or 114 for inquiries. After six months of being frozen, it is essential to actively contact the freezing unit to inquire about the situation, answer questions truthfully, and prepare materials such as transaction records over the past year, chat records from trading platforms or WeChat, safety measures taken during transactions, price comparisons, transaction frequency with counterparties, and a complete explanatory letter to be sent via express delivery. The rest is to wait. Some can be unblocked upon submission of materials, some will only unblock after the period expires, and some may continue to be frozen even after the expiration.
Some people may not proactively contact the authorities but are instead contacted and strongly requested to go in for a statement. Is it okay to go? There is no fixed answer to this question. After being frozen, there can be many situations: going in may lead to immediate detention, which could be arranged under package 37. There may also be instances where you are unblocked after giving a statement, or you may have to compensate the victim's funds before being unblocked. Some people are afraid and come up with various excuses not to go, but they might be fine waiting for the expiration; either unblocking or continuation of freezing will follow. Some may be labeled as fugitives if they do not go, and some may be suddenly taken away by the authorities after being frozen and not proactively contacting them. Again, different freeze cases, different case handlers, different regions, and different treatment methods will lead to different outcomes. If the authorities actively contact you, such as sending you an inquiry letter, just cooperate actively. If you are really worried, you can entrust a lawyer to handle it. I have also introduced professional blockchain lawyers to fans; if needed, you can message me. Another possibility is to communicate with the authorities and have the local authorities take your statement and then relay your information to the authorities in another location; communication is possible.