Under the severe situation of card freezing in the country, every time there is a profit needing withdrawal, each withdrawal can be a risky endeavor! Many of my friends made money, but when it came to withdrawal, they weren't careful and got caught up in serious trouble!
If you casually accept funds from strangers, it is like opening your door and letting others come and go; the risk of freezing is too high. If you are unaware of card freezing, you can search for 'bank card freezing' on any platform, where there are numerous cases of freezing and arrests every day!
One, C2C platform trading
Advantages: There is a platform providing guarantees, transparent pricing, and protection for both buyers and sellers. Moreover, the platform has transaction records, which can be used as evidence of good faith transactions even if the card is frozen.
Disadvantages: Everything has its pros and cons! Because the audience for exchanges is too broad, they are easily targeted by criminals, leading to a large amount of illegal funds circulating on exchanges. If you only withdraw funds at the maximum profit price and arbitrarily change trading partners, you are likely to receive illicit funds, which may result in your bank card being frozen!
C2C trading is more suitable for friends withdrawing small amounts, and it’s best to trade with familiar merchants, always prioritizing the safety of funds.
Two, OTC trading
Advantages: Flexible funds and almost fixed trading counterpart, with higher fund safety than exchanges. If it’s a long-term partnership with a cryptocurrency merchant, there is almost no risk of card freezing.
Disadvantages: In terms of price, it certainly cannot compare with the optimal prices of exchanges, and it requires familiar and reciprocal cryptocurrency merchants.
Over-the-counter trading is more suitable for friends with a deep understanding of cryptocurrencies; both small and large withdrawals can be done through OTC. Overall, the price may not be optimal, but the safety is relatively higher.
Three, using the settlement channel
Generally, foreign trade merchants and friends with a deep understanding of the foreign exchange market use this method more often. Its basic operational chain is: stablecoin → deposit into a fiat exchange → withdraw from the fiat exchange to your foreign currency account → conduct bank settlement to return to your home country.
Advantages: First is fund safety because you are using a legitimate settlement channel, ensuring that the incoming funds are absolutely safe, with no risks of card freezing. Secondly, it is relatively free; you can operate independently without needing to connect with merchant services, minimizing communication costs.
Disadvantages: Because it requires a fiat exchange and foreign currency account, you need to have a thorough understanding of various foreign exchange market knowledge. Moreover, the circulation costs of fiat exchanges are also not low, and in terms of price, it does not have much advantage over the above two methods.
Four, using U cards to cash out U
This is a good choice; if you can accept its fees, it is a perfect product. 99% of U cards on the market are not bank cards; they are consumer cards, gift cards, or salary cards issued in cooperation with payment companies and foreign banks. Common issuing institutions include Mastercard, VISA, UnionPay, etc. They support cash withdrawal from ATMs worldwide, card payments, and binding for platform consumption.
In the flow of funds, all transactions are conducted through bank channels, and the funds are received through China UnionPay, ensuring absolute safety.
Applicable group for U card, individuals facing card freezing penalties, retail investors in the cryptocurrency market worried about card freezes, public employees trading cryptocurrencies, and those converting gambling winnings into U.
Lastly, make sure to choose a legitimate and secure platform to avoid issues like fraud or transaction delays.
Understand the platform's withdrawal limits, fees, and timeframes to avoid financial losses due to improper operations.
Legal regulations differ between countries and regions, so you should comply with local laws when withdrawing funds to avoid risks from illegal transactions.
Follow me, and I'll help you withdraw funds without worries!