Newbies can buy and sell USDT safely without freezing your credit card!
My bank card was frozen for selling coins, and my uncle sent me to jail for a few years."
"I sold 200,000 coins offline, and my uncle pressed my head on the spot!"
“If you make 1 million by trading cryptocurrencies, you will be frozen if you sell U!”
This is almost the most complete and detailed article you can find. The entire network is creating anxiety about "frozen cards". As a newbie (retail investor, novice), when you are about to buy an "entry ticket (USDT)", you find that you don't even have the most basic security guarantee for entering and exiting the market.
There is a risk of card freezing at any time, and I start to feel anxious before even entering the market.
Lu Xun Said
So in this article you will know:
What is USDT?
How to buy USDT, how to avoid receiving black U (this asset will be frozen by the exchange)
Is it illegal for me to buy and sell USDT? Where is the boundary of the law?
The source of funds for cryptocurrency traders and what funds "I" will receive
The only criterion for freezing a card
A complete analysis of the security of withdrawal channels
What is USDT?
USDT is Tether, not U.S. dollars. It is a virtual currency issued by Tether. It has the same value as U.S. dollars, and the exchange rate is one to one.
It is equal to the U.S. dollar in value because the company deposits one U.S. dollar in the bank for every USDT it issues.
Tether only changes with the exchange rate of the U.S. dollar and its price is very stable, so it is equivalent to the legal currency in the currency circle. You can use USDT to buy any virtual currency.
The most important thing is that one day you make millions of dollars by buying Bitcoin in the cryptocurrency circle, you need to sell Bitcoin for USDT, and then trade it on the exchange or over the counter. Of course, you can also directly exchange Bitcoin for RMB.
Of course, most people come to the cryptocurrency world not just to buy Bitcoin, after all, its current price is 68,000 USDT.
Bitcoin current price
No matter what you do, contracts, Ponzi schemes, airdrops, blockchain games, web 3, it is most convenient to exchange any valuable currency in your hand into USDT when you leave.
If you really want to exchange Bitcoin or some other currency for money, that's not impossible.
But I will give you a big analogy. First of all, the existence of Tether is that it is anchored to fiat currency. The characteristic of fiat currency is stability, and it will not rise or fall sharply.
Suppose that at the moment you sell, the price of Bitcoin drops by 3,000 US dollars in an instant. The buyer will immediately turn around and spit, then quietly withdraw the 3,000 US dollars.
Under your dumbfounded gaze, you reluctantly choose to trade again. When the transaction is about to be completed, the buyer spits again...
The significance of USDT is that there will not be huge fluctuations in the increase and the price is stable.
How to buy USDT, how to avoid receiving black U
First of all, I want to make it clear that buying a U card will not freeze the card! For those who ask me to buy a U card to freeze the card, please go and try it yourself.
A frozen card means that unknown assets have entered the bank account. To buy U, you transfer the money to the merchant, and the merchant gives you USDT. A frozen card is also frozen by the merchant.
Therefore, when buying U, there is absolutely no possibility that your card will be frozen. So do you know why black money likes to enter the cryptocurrency market?
The black money is exchanged for USDT, and then USDT is exchanged for clean money, which is a perfect "laundering".
The process of buying U is that you transfer the money to the merchant, and the USDT is supervised by the exchange (it is in a frozen state). After both parties confirm the receipt (payment), the platform releases the currency and the transaction is completed.
Only exchange trading is recommended because there is no problem with the USDT you can buy on the exchange, provided it is one of the three major exchanges (EURITA or Binance).
As long as you buy USDT on other platforms, there is a certain probability that you will not be able to enter the exchange. Even if you enter the exchange, your exchange account will be frozen. This is the so-called black U.
We don’t care what Black U is, you just need to choose the merchant on the exchange to buy USDT in this step, and there will be no problem.
There is no problem with USDT that can enter the exchange.
The first step is to choose a merchant:
That is, you select C2C in the trading section of the exchange, filter the merchants, the larger the amount you buy, the cheaper the price of USDT will be, about 6 cents cheaper per coin, select "Buy".
At this time, you can choose to buy "by amount" or "by quantity", enter the amount or quantity you want to buy, and click "Buy USDT".
The second step is to transfer:
At this point, the exchange has locked the order and temporarily frozen the USDT sold by the merchant until you successfully transfer the money to the merchant, the other party confirms the payment, and the exchange releases the currency to your exchange account.
You can rest assured that the exchange will supervise this transaction. As long as you lock the transaction and confirm the payment amount through the bank card, ZF Bao, or VX payment method provided by the merchant, you can pay the merchant.
There is no problem if either party cancels the transaction during the period when no payment is received (made).
The exchange real-name authentication must be consistent with your payment method real-name.
If you have made a payment and the merchant does not confirm the receipt, you can file a complaint with the receipt of your payment, and the platform will definitely release the coins to you, so you can rest assured.
Merchants are now afraid of receiving black money, so most merchants will choose a fund filtering method to screen out retail investors who really want to buy USDT to ensure that their cards are not frozen. This shows how abnormal the current card freezing is and how rampant gray funds are.
Lao Jiu randomly clicks on a merchant that specializes in small transactions to show you how cumbersome it is to buy cryptocurrency now. The more cumbersome it is to buy cryptocurrency, the more rampant gray funds become.
This merchant chooses to open a store on Taobao, use Taobao merchant to collect payments, and do some fund filtering to prevent himself from receiving black money. You need to go to his store to buy items of equal value. Of course, the item will be sent to you as an empty package or a virtual product.
In short, merchants have done their homework to ensure that they do not receive black money.
This kind of store will be replaced very quickly, basically one needs to change a store every ten days or so. Sometimes the store deposit will be lost. Then how can the merchant support the store deposit by making three points from selling a coin?
Guess what the probability is of receiving gray funds when you sell coins?
When you sell coins, the merchant will not ask you to open a store. He will go to your store to transfer money to you.
Haha, when I bought coins, you were very cautious, afraid that the money I transferred to you was black money. When I sold coins, you only said "bank card number".
Summarize:
You can buy any coins you want, as long as you go to a regular exchange, confirm your real-name information, make sure the amount is correct, and finally take a screenshot of every transaction record and keep it. Don’t ask why. If you can use it one day, you will thank me for reminding you.
Is buying and selling USDT illegal? Where is the legal boundary?
If you are interested, you can take a look at the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Transaction Speculation" issued by ten departments of the Central Bank on September 24, 2021.
All the clauses in it are telling you one thing: cryptocurrency trading is risky and you have to bear the losses yourself.
There is no restriction on virtual currency transactions between individuals, that is, "no crime unless expressly provided by law", which means that legal currency transactions and currency-to-currency transactions between individuals are currently allowed and not restricted by law.
To be precise, there is no risk for individuals. As long as you don't cheat others or defraud them of their money, and no one calls the police to say that you defrauded them of their money, you will be fine.
The country just doesn't encourage or protect it. If you lose 1 million in an exchange one day, you can say that the exchange cheated you of your money and go to your uncle to recover it.
Uncle will righteously take out the 924 notice and tell you: "At your own risk!"
Of course, the most dangerous people now are the exchange merchants.
According to the 924 Notice, it is becoming increasingly common for cryptocurrency traders to be found to be engaging in currency exchange during transactions, and the pocket crime of illegal business operation can easily send people to jail.
Therefore, when currency traders do acceptance in formal exchanges, even though you have not participated in those messy things and have not received any black money, it can easily be identified as a business behavior.
The source of funds for cryptocurrency traders and what funds "I" will receive
Whether you are a newbie or an old hand, you must read this article. This is the underlying logic of anti-freezing. The core knowledge point of the information about frozen cards you can see is "what funds you will receive"
We mentioned before that when currency dealers sell USDT, they set up multiple layers of fund filtering. They will look at your transaction flow in the past 15 days, screenshots of your balance page, and will not trade if the merchant does not trade, does not trade if the transaction flow is unqualified, or sells currency on behalf of others. They may even ask you to place an order at a Taobao store after you start trading.
After layers of filtering, the ultimate goal is to ensure that his bank card is not frozen.
When currency traders buy USDT, that is, when we sell currencies, have you done any fund audit?
Me: “Sell coins!”
The currency dealer will only say: "Brother! Bank card number!"
groove!
Even if "I" know how to review bank transactions, the transaction pictures provided to you by the currency dealer are still the "bank simulator" bought from Taobao for a dozen yuan. You can flow the funds as long as you want and have as much balance as you want.
Back to the topic, the transaction flow is fake and the balance is also fake.
So what kind of funds will you receive?
That is what kind of funds are the most abundant in this circle, gambling, Ponzi schemes, CX schemes, retail investors, and online fraud funds.
Apart from these funds from retail investors, these are the only funds you can receive.
The only criterion for freezing a card
The only criterion for freezing a card is funds involved in the case. Your card will be frozen only if funds involved in the case have entered your account.
The most serious case of card freezing is "one-time fraud", which means that the victim's funds are directly transferred to your account. In this case, the uncle will come to your door to put pressure on you.
Because you are the direct suspect involved in the case, otherwise you explain why the victim's money is in your card.
In most cases of “first-hand black hands”, compensation is now required. In recent years, there are fewer and fewer cases where blockchain is handled in accordance with “good faith acquisition”.
If you encounter this, just consider yourself unlucky!
Most of the funds for online fraud, Ponzi schemes, and CX schemes are purchased from exchange merchants.
Laojiu has another case today. A fan was deceived into trading on a fake exchange, but the USDT was bought from a merchant on a regular exchange. A total of 6 USDT purchases were made in the past two months, totaling 130,000 USDT.
As a result, the fake exchange ran away, and he went to his uncle and sued the six regular exchanges that sold the coins.
Now the scammers have run away with the money, and 6 merchants have been frozen, as well as other retail investors under the 6 merchants who received the money.
So this is how a sum of clean money turns into black money.
So most of the time your card is frozen, the same logic applies. Maybe it was not frozen when you bought it, but you found it was frozen a few months later. This is also normal.
Because you can't be sure when a victim will appear.
The only criterion for freezing a card is the funds involved in the case! The funds involved in the case may appear at any time, and you cannot be sure when your counterparty will become a "victim".
Full analysis of withdrawal channels
By understanding the logic behind card freezing and the composition of funding channels, we will know which scenarios are absolutely safe.
Pheasant Platform
The fake regular platforms have risk control levels, KYC audits, and risk control models. The fund security level is only slightly higher than that of the fake platforms. What do fake platforms have? They don’t even have the simplest KYC audit. You can pass the manual audit with a piece of blank paper. If you don’t believe it, try it. There is no security. What kind of people can be on such a platform? Most of the stolen money is laundered in it.
If you want to withdraw money from these platforms, 100% of it is stolen money, and the card freezing rate is 99%+. Why do all those online gambling guys have their cards frozen? Online gambling does not lead to card freezing, but your recharge and withdrawal behavior leads to your card freezing.
Easypay
This is a high-risk platform (a channel for internal money laundering), with a card freezing rate of over 80% and a large amount freezing rate of over 99%.
Its predecessor was to provide currency withdrawal services for online gambling platforms. You can unlock the frozen card achievement after using it once, and the price is inflated. Legitimate currency traders cannot enter the platform.
When you place an order on this platform, it is not that someone will transfer the money to you immediately. Instead, the criminals of this telecommunications fraud directly ask the victim to transfer the funds to your card. Do you understand? There is a time difference here.
It is equivalent to you providing the card number, the scammer defrauding money, and then providing the card number to the victim. This is called a black hand, and you will be directly deceived.
Formal Exchange
Unlike the wild chicken platforms, there are risk control mechanisms, KYC review, and merchant deposits. Is it enough to have these? It’s useless. This industry is always centered around people. We must recognize the limitations and uncontrollability of people. Which currency trader doesn’t want to make more money?
After your card is frozen, try looking for a currency dealer. He will definitely ask you that the coins you sold two months ago have nothing to do with your frozen card.
In fact, sometimes the currency dealer himself doesn’t know why your card is frozen, because the victim’s money may only be kept at the currency dealer for a while before being transferred to your card, but in the end it is you who has your card frozen.
The advantage of trading on an exchange is that there is little loss, but if you receive black money once, your card will be frozen.
WeChat group airplane group OTC trading
This kind of risk is extremely high. In fact, it is the same as the fake platform. Who doesn't even dare to trade in the exchange and can only hide in anonymous groups to trade?
Don't even think about it, it's definitely a bad thing. Not only do you have to bear the risk of being cheated, but you also have to bear the risk of having your card frozen. The key is that after the card is frozen, once the chat history is deleted by the other party, who can you turn to?
Do you think you can explain yourself when your uncle comes looking for you?
Cash in the city
The card will not be frozen, but the premise is that you are a retail investor, not a fleet that makes a living from this. It’s okay to go out once in a while, just take the cash and put it at home and use it slowly.
Don't listen to those people who make you anxious by saying that cash is black money. Yes, you read that right, cash is problematic, but it is only limited to your upstream investors. If there is a problem, just press their heads. As a retail investor, there is no problem if you occasionally withdraw cash and then spend it slowly.
The thing to pay attention to in cash transactions is personal safety, so you should find a familiar currency dealer to trade with.
Familiar with (trusted) currency traders
Our IP is our rice bowl. No legal company will destroy its own rice bowl under the banner of legal affairs. For a legal person who works as a self-media in the cryptocurrency circle and secures funds, reputation is the first priority. This is the professional quality of a legal person.
Ask those currency traders who make 3% profit in the market!
How much have they paid for the safety of their funds? How much sweat, blood and tears have they shed?
They probably can't answer this question. Their plan is to let others pay the price and shed sweat, tears and blood.
Laojiu’s ability to pay full compensation for frozen cards is not based on credibility or professional ethics.
It is my real ID card, real estate certificate, and regular e-commerce funds, and there has been no compensation in the past three years.
Using USB card
I have been using U card for two years. It is very useful. It transfers U card to MasterCard U card, which can be used to withdraw cash from ATMs around the world and for daily consumption.
It is very suitable for small withdrawals for daily grocery shopping, taxis, cigarettes, alcohol, and foot massages. There is no counterparty, the exchange rate is real-time, and it is absolutely safe.
MasterCard u Card has a corresponding app, which contains a withdrawal address and can be used to recharge USDT, BTC, and ETH.
The MasterCard U card that Laojiu represents here is a physical card, which is different from other U cards on the Internet. Other cards are virtual currencies and are just apps. That is to say, without the physical card, you cannot withdraw cash from your bank card, and you can only use it for daily consumption (it cannot help you to go out of U safely).
There are thousands of people cutting leeks, you must at least find a professional and reliable sickle.
U Card is suitable for people who are deadbeats, people whose cards have been cut off and punished, retail investors in the cryptocurrency circle who are afraid of having their cards frozen when withdrawing money, public officials speculating in cryptocurrencies, and online gamblers who want to cash out U. Anyone who wants to avoid having their cards frozen can use it.
MasterCard U Card application process:
