How to avoid the U-frozen card in the coin circle? Share a summary of an old leek in the currency circle!

The summary of 7 years of experience in the currency circle has helped countless currency friends solve the frozen card crisis. It is worth collecting.

Whether you are new to the currency circle or an old person, there are many confusions about withdrawing funds. Newcomers are afraid of not being able to withdraw money, and old people are afraid of encountering dirty money.

If you are new to the currency circle and only do small transactions, you don’t need to worry about this. After all, the domestic OTC market is a point-to-point (C2C) transaction. Some people want to buy and some want to sell, so there will always be a C2C transaction method. At present, the C2C trading markets of Binance and Ouyiokx are still stable. If you find merchants with high reputation and are not greedy for petty profits, you can use them with peace of mind.

The following focuses on the issue that senior people in the currency circle are worried about, namely the freezing of withdrawal bank cards, that is, the worry of receiving black money.

The following article is long, but it is full of practical information. You can consult me ​​for specific cases.

First, some popular science: What is black money?

If the buying price in the c2c trading market is lower than the selling price.

Theoretically, you can buy 1,000 usdt at a price of 6.34 and sell 1,000 usdt at a price of 6.38, making a net profit of 0.04*1000=40 knives=280 yuan. You can make arbitrage in a continuous cycle.

But the market is not a fool, and the profit margin has been smoothed out long ago.

The reason for this is that the merchant who uses legal currency to buy USDT (i.e., 6.38) has black money in it, so he is willing to buy USDT at a cost higher than the market price to get rid of the black money in his hand, and you become a money launderer. helper.

In 2018 and before, the C2C market was relatively normal. Later, all kinds of black money such as telecommunications fraud were trying to go through the C2C market in the currency circle. The GA, which traces black money, is now more strict about this area. When encountering cards through which black money flows, they will freeze them to cooperate with the investigation.

Characteristics of black money

Very much like an infectious disease. It is highly contagious and latent and cannot be seen on the surface. So it brings two characteristics:

1. As long as this card receives black money, it will be infected and may be frozen. If this card is transferred to any card, it will infect new cards.

2. You don’t know which card or money is problematic before it’s frozen. You won’t know until it’s frozen, so it’s somewhat hard to prevent.

How to deal with black money issues when withdrawing cash

1. When withdrawing cash, look for merchants with large transaction volume, long registration time, and normal prices (the selling price is lower than the market buying price). Don’t be greedy for small gains:

Generally, if the transaction volume is more than 2,000, if the registration time is more than one year, the price is lower than the purchase price. However, the transaction volume is small, and within one month of registration, almost all of the top few prices have problems.

2. Use empty cards that are not commonly used to collect money. The amount on a single card should not be too large. Each card should only trade with one merchant as much as possible. The credit card should be isolated for 1-3 months and transferred to the main card after it is not frozen. Because we don’t know which merchant has the problem, it’s purely a probability, so we need to reduce the loss caused by being frozen. With this method of isolating first, even if one is frozen, it won't be a big problem. It will be dealt with later.

Advanced ideas

1. If you have a lot of money and need US dollars, you can open an account at the US dollar exchange Kraken, withdraw usdt and cash it into usd, and then withdraw the money to your US dollar card.

2. It is okay for some people to immediately pay off credit cards/loans, buy financial products, or enter the stock market after receiving the money. Generally, the probability of freezing is lower.

3. It is better to use a bank card. Alipay and WeChat cannot reduce the probability of being frozen.

Summary: As long as you operate it properly and don’t take advantage of small things, the probability of encountering black money will be greatly reduced.