The market is not good, let's cash out some USDT to prepare for the New Year!

I tried Binance's fiat withdrawal feature, which is quite smooth. This feature should have been released long ago (actually, it was released earlier, but the entry point is relatively hidden).

Entry point: Click on the homepage's 【More Services】--> Find the feature entry 【Sell to Fiat】

Service activation process: Overall very simple, just check the agreement and submit a questionnaire.

Step 1: Exchange USDT for USD. Binance does not charge a fee for this step, only a loss from the exchange rate difference, which is about 0.08%, overall it's acceptable.

However, it should be noted that this step has a limit, each person can withdraw 6600U. If you want to increase the limit, you need to resubmit identity verification and address proof.

Step 2: Transfer USD to the bank account. (You need to add a bank account that supports receiving USD first)

It's not recommended to use HSBC directly, as their risk control is strict and can easily lead to account suspension. You might want to try ZA Bank first.

Just go to the ZhongAn APP and copy the relevant bank account information. After submitting the transfer, it is expected to arrive within 1 working day.