Hello, this is Klaus.
As we all know, money in China is strictly controlled.
From time to time, some of my fans ask me
how to get their money out of China.
Today, I'm going to share with you a method
that can not only move your money abroad,
but also, no matter where you are,
help you invest in US dollars, earn high interest,
fight inflation, and preserve your wealth.
Okay, let's get right to it.
Fundamentally, the value of a currency is determined by its purchasing power.
Let's look at the data.
According to public statistics from the Central Bank of China,
China's total money volume (M2) in February 2022 was 244 trillion RMB.
The US monetary volume in February 2022 was 21 trillion dollars.
Based on the current exchange rate at 6.3, China's figure amounts to 38.7 trillion USD.
That is to say, if all the money in China were put together,
it could almost buy the United States twice.
But China's GDP is only about half as much as the US GDP.
China calls the US “the world's NO. 1 currency abuser”,
THE WORLD'S NO. 1 CURRENCY ABUSER!
but in fact, there is nearly twice as much RMB in total as the USD,
not counting the fact that the USD is the world's main (circulating) currency,
and that half of it circulates overseas.
By contrast, almost all of the RMB circulates in China only.
The only explanation is that the extra RMB might’ve been issued with the help of the US.
Take a look at your RMB and see if it says “Federal Reserve”.
So from a macro point of view,
the exchange rate of the RMB does not reflect its true value at all.
In addition, let's look at the exchange rate trend in the past five years.
The most direct factor affecting exchange rate is trade import and export.
Import means to buy foreign goods, to buy foreign currency with domestic currency,
so the foreign currency rises in value.
Export means that foreign currency is converted to domestic currency to buy domestic goods,
so the domestic currency rises in value.
In 2018, as the US-China trade war began, the US reduced imports from China.
The demand for the RMB fell, and so did its value.
The USD/RMB ratio rose as high as 7.17, after which there was a slight decrease.
In early 2020, due to the COVID-19 outbreak in China,
cities were closed, factories were shut down, and exports were affected as a result.
The RMB fell back to its lowest point again.
Then the pandemic spread across the world. It went global.
Compared to foreign countries,
China took strict measures in controlling the pandemic, which were a relative success.
China's exports increased dramatically.
So, the RMB has grown in value since mid-2020 when China got COVID under control,
arriving at its current exchange rate of 6.3.
However, the RMB's appreciation has been an uphill struggle in the past year.
Most countries now have COVID under control,
whereas in China it has recently taken over again,
which, coupled with the trend of reverse globalization,
will slowly weaken China's status as the world's processing plant.
Therefore, the devaluation of the RMB is likely to start.
The value of the RMB is at its peak now, and is likely to fall for the next five years,
meaning now is the best time to invest in the USD.
In fact, you don’t need to care about the macro- or micro-level.
The value of a currency is ultimately determined by a nation's overall power.
The US is the world's leader in terms of technology, military, and economy.
Thus, regardless of the exchange rate, you can never go wrong investing in the US dollar.
Some banks in the US support deposits from foreign residents.
You can open an account with a Chinese ID card. You don't need to be in the US,
and your funds will be covered by government insurance of at least $250,000.
I can help you open this type of account in US dollars.
But the problem is that inflation is a global problem.
When governments are under pressure from the pandemic and economic downturn,
printing money is the most direct and simple solution.
The US can't keep up with the "Chinese speed" of money printing,
but inflation in the US is also severe.
So is there a low-risk way to convert the RMB into USD
and, at the same time, get an interest rate that exceeds the rate of inflation?
The best way is to invest in a virtual currency, "stable currency".
A stable currency is a virtual currency linked to the US dollar.
Its price is stable and consistent with the US dollar.
Currently, the market cap of the top 1 stable currency is $82 billion,
closely following bitcoin and ethereum,
followed by USDC, BUSD, UST, etc.
A stable currency is linked to the US dollar, so it is low-risk.
Besides, you can get a good interest rate.
First, invest in virtual currency on a centralized trading platform,
namely, to buy virtual currency with fiat currency.
You have to be careful when choosing a platform.
I can’t emphasize this enough. Several of my friends have been scammed.
The story is always the same:
someone introduces you to an unknown platform to buy coins.
In the end, the platform freezes your account and funds cannot be transferred out.
When choosing a platform, you must look at its ranking.
Choose top ranking platforms whose average daily trading volume is over a million dollars.
Here are several reliable trading platforms I recommend.
You can use my invitation link to get a discount on transaction fees.
You can find them below the video.
All of these trading platforms allow you to buy stable coins USDT with RMB,
which is the first step of RMB to USD exchange.
Take Okex for example. It supports bank card, Alipay and WeChat payments.
It is fully functional and easy to use.
Scan the QR code or click the link below the video to sign up.
The PC version and mobile version are similar. Let's look at the PC version here.
Some countries and regions are not supported due to local laws,
such as Hong Kong, Malaysia and the United States.
If you are in one of those places, or use their VPN,
you will be told that the app cannot be used.
No need to worry. Go ahead and register. You can provide non-local identity proof later on,
for example, a Chinese resident ID card.
After successful registration, the app’s main functions require authentication of identity.
Just upload your ID.
Rest assured. I'm using this app myself.
Okex is a foreign company.
The average daily trading volume reaches 5 million USD, ranking third.
After identity verification, click “Buy USDT”.
Enter the amount of RMB you want to buy coins with.
It will automatically show you the most suitable exchange rate.
You can also manually select p2p (c2c) and find many third party merchants.
The exchange rate is generally lower than the actual rate when the market is stable.
RMB to USD exchange is very cost effective.
If the currency market plunges, many people will pay a margin call.
At this time, USDT will be higher than the market rate.
You don't buy coins directly from the platform.
RMB is strictly regulated in China, so you can't buy virtual currency directly.
You must go through a third party on the platform, a so-called “merchant”,
which is similar to an underground money market.
They will usually tell you their requirements.
Just follow the requirements.
No need to worry about the safety of your money.
For example, do not mention virtual money on WeChat.
WeChat payments should not be made via direct transfer.
Instead, use red envelopes to prevent account suspension, etc.
Be sure to complete the payment within the specified time.
Should any problems arise, communicate with the seller in a timely manner.
After the payment is completed, click on “payment completed”.
Soon you will receive the funds on the platform.
In this way, you will have converted your RMB to USDT, which is linked to USD.
Other platforms are similar.
The process mentioned above circumvents government regulations on RMB.
Want to earn interest on your newly bought USDT?
The most simple way is to put it directly on the platform.
However, the interest rate is not high. Okex only gives you 3 to 7 percentage points.
Binance offers 10% but there is a 2000 USDT limit, beyond which the interest rate is low.
But trading platforms like Okex and Binance are centralized.
Centralization means being controlled by an individual or entity
who have absolute power to control your money.
So as for myself, I like to put my virtual currency on decentralized platforms.
First, you create a decentralized virtual currency wallet.
This little fox wallet, Metamask, is the most commonly used.
Transfer your virtual currency from a centralized platform like Okex into the wallet,
and then to a decentralized trading platform.
Decentralization simply means that there is no middleman, e.g., a bank, to profit from you.
So the interest rate will be higher if you keep your money on these platforms.
The interest rate varies from platform to platform,
but it is not uncommon for a platform to offer an interest rate of over 10%.
Due to time constraints, I will not give you a detailed walkthrough here.
Thank you so much for your support.
This is Klaus. See you next time!