Last week, I had a late-night meal with Lao Zhou, whom I've known in the crypto circle for six years. He pointed at his bank card, which had been frozen for four months, and sighed: During last year's bull run, he made over two million, but just to save three cents on a trade, he found a stranger who offered a high price in a group chat and made a transaction. Now he's still traveling to another city to give a statement, and his business has been delayed for nearly half a month.

I used to think the most dangerous thing in crypto was opening 100x leverage, losing everything in a second when liquidated. But after being in this space for a long time, I've come to understand: Unrealized gains are just numbers on an account; cashing out is the final step to putting profits in your pocket. If you make a wrong move here, all the money you've earned over years could go down the drain.

I know too many people who have fallen into traps: Some added a stranger U-merchant privately just to earn a few extra cents per trade, and right after transferring their stablecoins, all three of their frequently used cards were flagged for anti-fraud. Others did over-the-counter cash transactions, and as soon as they pocketed the money, they were tracked down to verify the source. Some tried to cash out seven million at once, and within half an hour of receiving the money, they got a call from the bank's risk control department, spending a week explaining before it was resolved.

Over the years, I've set strict rules for myself: Before selling stablecoins, I always check the counterparty's background. Any order priced significantly higher than the market rate, I simply avoid—there are no free profits falling from the sky; behind them are invisible traps. I avoid stranger private deals and over-the-counter cash transactions as much as possible. Many risks are not noticeable during the trade, but by the time you realize it, trouble has already arrived.

I break large sums into smaller amounts and cash out slowly. It's slower but safer. When I receive the money, I don't release the stablecoins immediately; I confirm the funds are truly in hand and wait half an hour to observe any anomalies. Those few minutes of caution are far more valuable than earning a little extra on the spread.

Bank risk control is never about how much you've earned; it's about worrying if the funds have an unclear source or unusual transaction flow. Rapid deposits and withdrawals, or large amounts clustering together, can easily trigger alerts.

By now, I firmly believe one thing: Making money in crypto is just the process; safely cashing out is the real result. The holdings in your wallet and the balances on exchanges don't truly belong to you. Only the money that you can freely control and that sits securely in your account is truly in your hands. $BTC