2024 Anti-freezing card methods, the most comprehensive on the Internet!
Today, I will take the most frequently asked question of retail coin friends in the square, the deposit and withdrawal transactions in the exchange as an example, to discuss how to avoid freezing cards in OTC transactions.
(1) For OTC transactions, try to choose large platforms such as Binance and Ouyi. These platforms have good communication channels and risk control measures with mainland regulatory agencies and law enforcement agencies.
(2) Try to choose OTC platforms that support T+1/T+2 withdrawal strategies. Although you cannot withdraw cash immediately after selling coins, it reduces the risk of suspected money laundering through OTC transactions. For example, Binance T+1 and Huobi Strict Selection Transactions (relative to free transactions, T+2 withdrawals).
(3) Avoid directly using stablecoins such as USDT for OTC transactions. OTC transactions should try to use mainstream currencies such as BTC and ETH.
(4) The bank card for OTC transactions must be a separate card that is not used normally, separated from the salary card, etc., so that even if it is frozen, it will not affect the use of other funds. When cooperating with the investigation, it is also easy to explain the flow of funds.
(5) For OTC transactions, try to use local bank cards, such as city commercial banks and rural commercial banks. Large and medium-sized joint-stock and commercial banks such as ICBC, ABC, CCB, and CCB have branches all over the country, so law enforcement agencies can basically freeze their cards directly.
(6) Do not trade frequently with fixed merchants or fixed users. If the same user makes more than three indirect purchases in one day, or sells after a few hours after buying, it will be very dangerous and there is a strong suspicion of money laundering.
(7) Find reliable OTC merchants to trade. Try to take the initiative to accept orders from large merchants and market makers, place fewer orders, and avoid merchants in problem areas. In fact, as an ordinary user, it is difficult to distinguish which merchants are reliable. For example, a large number of friends who traded with Huobi Blue Shield service merchants have also had their cards frozen.
(8) Reduce the frequency of withdrawals and increase the amount of cash.
(9) After OTC transactions, do not transfer money to other bank cards to avoid contaminating other funds, which will make it troublesome to cooperate with investigations. If you need money urgently, you can withdraw cash through ATM or spend it online.
(10) Try to cash out during weekdays. It is best to trade during normal working hours such as weekdays, such as between 9 am and 9 pm.
(11) Do not transfer the money out immediately after receiving it. After selling USDT for RMB, do not transfer it out immediately. Leave it in the account for a while.
It is definitely not safe to withdraw money in China. For small amounts, apply for a MasterCard U card, which can be used for domestic consumption and cash withdrawal. For large amounts, go to Hong Kong and there are legal companies that can exchange it.
