If you've made enough money in the crypto world, how can you safely cash out 5 million?
1. Go to major exchanges like Binance, convert your cryptocurrency to RMB or foreign currency, and then withdraw it to your bank card. Remember, both the bank card and the identity information must be yours, and real-name verification must be completed.
2. If you often travel abroad, consider opening a bank account in Singapore or Hong Kong, convert your cryptocurrency to foreign currency, and then withdraw. However, the account opening must be legitimate, and the purpose of the account should be clearly stated.
3. There is a P2P market in the exchange where you can find withdrawal channels; make sure to choose those with good reputation, and use real-name methods for payment to ensure security.
When it comes to large withdrawals, how can you avoid bank risk control?
Firstly, don't withdraw too much at once; do it in batches, withdrawing no more than 100,000 each time for safety.
Secondly, frequently use your bank card, maintain some balance, or invest in financial products to let the bank know you are a reliable customer.
Then, avoid suspicious operations, such as quick in-and-out transactions; try to perform operations during banking hours, and keep good transaction records.
What if you get flagged by risk control?
Don't panic, contact the bank, explain the source of funds, provide transaction records, and cooperate with the appeal process; it can generally be resolved.
These are my personal experiences; I hope they can help you make your wallet fuller!
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