Remitting from China to Overseas? This Win-Win Strategy Is Worth Bookmarking

Image Source: pexels

Have you ever been frustrated by the slow speed and high fees of remitting from China to overseas? Traditional bank remittances not only take several days but also layer on handling fees, intermediary bank charges, and exchange rate spreads.

Now, an efficient win-win strategy deserves your attention: using stablecoins (USDT) for cross-border transfers. It achieves minute-level arrival with significantly reduced costs. This is a win-win strategy: you save time and money, while the recipient can conveniently receive funds without needing a bank account.

Core Points

• Using USDT to remit overseas allows money to arrive quickly with very low fees.
• You need to first buy USDT with RMB and then send the USDT to the recipient.
• After receiving USDT, the recipient can exchange it for local currency.
• Choosing a secure platform is important, and carefully check the recipient address and network to avoid errors.
• USDT remittances are faster and cheaper than traditional banks but pay attention to market risks and operational security.

USDT Remittance: A Fast and Secure Win-Win Strategy

Image Source: pexels

Compared to traditional methods, USDT remittances demonstrate huge advantages in speed, cost, and convenience, forming a true win-win strategy. You can manage funds more efficiently, and the recipient can receive payments more easily.

Compared to traditional methods, USDT remittances demonstrate huge advantages in speed, cost, and convenience, forming a true win-win strategy. You can manage funds more efficiently, and the recipient can receive payments more easily.

For users seeking a seamless experience, BiyaPay offers an integrated multi-asset wallet that covers cross-border payments, investment, and fund management. With BiyaPay, you can initiate international remittances directly and use its free exchange rate comparison tool to evaluate real-time currency costs. The platform supports over thirty fiat currencies and more than two hundred digital assets, with same-day delivery and transaction fees as low as 0.5%.

BiyaPay operates under strict global compliance frameworks, holding financial licenses such as the U.S. MSB Money Services License and New Zealand FSP Registration, ensuring secure and transparent cross-border transactions. Users can also verify transaction routes through IBAN lookup or SWIFT lookup, minimizing operational risk.

This all-in-one approach allows both individuals and businesses to complete international transfers safely and efficiently without switching between multiple tools.

Speed Advantage: Minute-Level Arrival

Have you experienced the anxious wait of several days after a traditional wire transfer? An international remittance from mainland China typically takes 1-5 business days to reach the recipient’s account.

USDT remittances completely change this situation. Based on blockchain technology, transfers are nearly instant. Especially USDT transfers via the TRC-20 network, where transaction confirmations usually complete within minutes.

This minute-level arrival speed provides unparalleled efficiency whether for urgent fund needs or daily transfers.

Cost Advantage: Near-Zero Handling Fees

The fee structure of traditional remittances is complex and opaque. You not only pay the bank’s base handling fee and telegraphic transfer fee but may also be charged an unknown amount of “pass-through fees” by intermediary banks. These fees add up and significantly erode your remittance principal.

In contrast, USDT remittance costs are extremely low. The only fee you pay is a fixed network “gas fee.” Taking the efficient TRC-20 network as an example, the per-transaction fee is usually between $1 and $3, sometimes even lower.

This clear and low-cost structure ensures every penny is well spent.

Convenience Advantage: Operate Anytime with One Phone

USDT remittances break time and location restrictions. You no longer need to follow bank business hours or visit branches in person.

• 24/7 Availability: Blockchain networks operate 7x24 hours without interruption, allowing you to initiate transfers anytime.
• Simple Operation: Just a smartphone and digital wallet app, complete the remittance in a few steps.
• Flexible Receiving: The recipient does not need a bank account; only a digital wallet address is required to receive funds, greatly lowering the receiving threshold.

USDT Remittance Three-Step Practical Guide

Image Source: unsplash

After understanding the advantages of USDT remittances, you may wonder how to operate specifically. In fact, the entire process can be broken down into three simple and clear steps. This guide will use digital wallet apps like Biyapay that support C2C transactions as an example to show you the complete operation process.

Step One: Acquire USDT

Before any transfer, you first need to exchange your RMB funds for USDT. This process is usually completed on platforms supporting C2C (Customer-to-Customer) transactions.

Choosing a safe and reliable platform is crucial in this step. A professional platform should have multiple security guarantees to protect your assets and data.

Security Tip: How to Evaluate Platform Security? When choosing a platform, you should focus on whether it provides the following core security features. These features have proven critical in protecting user assets in multiple major historical security incidents.

After confirming the platform is secure enough, you can acquire USDT on Biyapay or similar platforms through the following steps:

1. Register and Verify: Complete platform account registration and perform identity verification (KYC) as required by the platform.
2. Enter C2C Trading Area: Find the C2C or “Buy Coins” function within the app.
3. Select Merchant: Choose the asset you want to buy (USDT); the system will display a series of certified merchants selling USDT. You can filter reliable merchants based on price, trading volume, and positive reviews.
4. Place Order and Pay: Enter the amount you wish to purchase (e.g., USDT equivalent to $1,000), select payment method (such as bank card, Alipay, or WeChat Pay), and complete payment to the merchant as instructed.
5. Confirm Receipt: After you pay, the merchant will confirm receipt and release the corresponding USDT to your platform wallet. The entire process usually completes within minutes.

Step Two: Cross-Border Transfer

Once you have USDT in your wallet, you can start the cross-border transfer. This process is as simple as sending an email, but there are a few key details you need to pay extra attention to.

Transfer Process Overview:

1. Obtain Recipient Address: Ask your recipient for their USDT receiving address. This is a long string of letters and numbers.
2. Initiate Transfer: In your Biyapay wallet, select the “Transfer” or “Send” function.
3. Fill in Information:
   • Paste the recipient’s wallet address.
   • Select the correct transfer network (e.g., TRC-20).
   • Enter the USDT amount to transfer.
4. Confirm and Send: Carefully verify all information, especially the address and network, then confirm the transaction.

⚠️ Key Risk Warning: Network Selection and Address Verification

• Must Select the Correct Network: USDT exists on multiple blockchain networks, such as TRC-20 (Tron), ERC-20 (Ethereum), etc. You and the recipient must use the same network. The TRC-20 network is preferred for small remittances due to its extremely low transfer fees (usually $1-$3) and fast speed. Sending TRC-20 USDT to an ERC-20 address will result in permanent loss of funds.
• Repeatedly Verify Wallet Address: When copying and pasting the address, be sure to carefully check the first and last few characters. Some malware will tamper with the address in your clipboard, causing funds to be sent to hackers. Once a transaction is confirmed on the blockchain, it cannot be reversed.

Step Three: Receiving and Cashing Out

When your transfer is confirmed on the blockchain, the recipient will immediately see the USDT in their digital wallet. The final step is to exchange this USDT for local fiat currency, such as USD, EUR, etc.

The recipient can choose a compliant cryptocurrency platform in their country or region to complete this operation.

• Common Platforms in US, Europe: Coinbase, Kraken
• Common Platforms in Asia and Global: Binance, ChangeNOW

General Cash-Out Process Is as Follows:

1. Register and Verify: The recipient registers an account on their chosen platform (e.g., Coinbase) and completes identity verification (KYC).
2. Deposit USDT: Transfer the USDT you sent from their personal wallet (e.g., Biyapay) to the platform’s account.
3. Sell USDT: On the platform, select the “Sell” function to exchange USDT for local fiat (e.g., sell USDT for USD).
4. Withdraw to Bank Account: Finally, withdraw the exchanged fiat balance from the platform to their bound personal bank account. Funds usually arrive within 1-3 business days.

During the cash-out process, the platform will charge certain fees, usually including platform service fees and bank withdrawal fees. Choosing a platform with transparent fees can help the recipient maximize the received amount.

Security Core: Avoid Three Potential Risks

Although USDT remittances are efficient and convenient, you must clearly recognize the accompanying risks. Actively avoiding these risks is the core of ensuring your fund security. The following are three aspects you need to focus on.

Platform Selection Risk

Choosing an unregulated or poorly reputable platform is the biggest risk you may face. These platforms may suddenly close due to hacker attacks, poor management, or even direct scams, resulting in permanent loss of your funds with almost no recourse.

A reputable and secure platform usually has the following characteristics:

1. Asset Insurance: Provides theft insurance for users’ crypto assets.
2. High-Level Authentication: Supports two-factor authentication (2FA), with some platforms also supporting biometrics or single sign-on (SSO).
3. Cold Storage Technology: Stores most user funds offline in cold wallets to resist network attacks.
4. Compliant Operations: Regulated by financial institutions, such as Coinbase and Gemini strictly complying with US laws and implementing strict KYC (Know Your Customer) and AML (Anti-Money Laundering) measures.

Choosing such regulated platforms is the first line of defense for protecting your assets.

Personal Operation Risk

In the digital world, any minor operational mistake can cause irreparable losses. The immutability of blockchain means that once a transaction is sent, it cannot be revoked.

You need to be particularly vigilant against the following common errors:

• Sending to Wrong Address: Adding or missing a character when copying the address will send your funds to the wrong destination. Be sure to repeatedly verify the first and last few characters of the address.
• Selecting Wrong Network: Sending TRC-20 network USDT to an ERC-20 address will result in permanent loss of funds. You and the recipient must use the same network.

To protect your account, be sure to enable two-factor authentication (2FA). It requires you to provide a dynamic verification code from a mobile app after entering your password. Compared to insecure SMS verification, using Google Authenticator and other authenticator apps provides stronger protection.

Compliance and Market Risk

You need to understand the relevant compliance requirements. Currently, mainland China prohibits financial institutions and payment companies from conducting cryptocurrency-related business. Therefore, when you conduct C2C transactions on compliant platforms, the platform will require you to complete identity verification (KYC) to comply with global anti-money laundering (AML) regulations.

In addition, USDT itself has market risks. Although called a stablecoin, its price is not absolutely constant. Historically, due to external doubts about its reserve transparency, USDT’s price has fluctuated, once dropping to $0.87. Although rare, you should still be aware of this potential price fluctuation risk.

Overall, USDT remittances provide you with an efficient, economical supplementary solution. It is a win-win strategy worth mastering. After fully understanding the operations and risks, you can start with small amounts to personally experience its convenience. Mastering this method is not only solving urgent needs but also adding a practical future financial skill for yourself, a forward-looking win-win strategy.

FAQ

Is USDT Remittance Compliant in Mainland China?

Mainland China prohibits financial institutions and payment companies from conducting cryptocurrency-related business. Your transactions on C2C platforms are between individuals. You should understand and comply with local regulations and be aware of related policy risks.

What If I Accidentally Send USDT to the Wrong Address?

Blockchain transactions are irreversible. Once confirmed, funds cannot be recovered. Therefore, before transferring, you must repeatedly verify the recipient address and network type.

Security Advice: When transferring to a new address for the first time, it is recommended to send a very small amount (e.g., $1 USDT) for testing. After confirming no issues, send the remaining large amount.

Why Recommend Using the TRC-20 Network?

USDT exists on multiple networks. We recommend the TRC-20 network mainly for the following two reasons:

Choosing TRC-20 can significantly save costs and improve efficiency for you.

Is USDT’s Price Always Equal to 1 USD?

USDT is a stablecoin with the goal of 1:1 peg to the USD. But under extreme market conditions, its price may experience slight fluctuations. Historically, it has briefly deviated from $1 due to market panic. You should be aware of this minor market risk.