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How I Cash Out Crypto in Dubai — No Bank Freezes/Account Blocks (100% Legal) · GENZONE

• 0:00
  SPEAKER_00: If you're in crypto, you might want to cash out some of your crypto into fiat and you're looking to do it legally without getting your accounts blocked.
• 0:06
  SPEAKER_00: So how do you do it?
• 0:07
  SPEAKER_00: How do you go from USDT to USD?
• 0:09
  SPEAKER_00: And then how do you go from USD to AED?
• 0:13
  SPEAKER_00: Because this is the currency of the UAE.
• 0:15
  SPEAKER_00: Now, with that being said, actually, one fun fact if you don't know this already, the Durham is pegged to the US dollar, meaning one US dollar equals 3.6725 Durham.
• 0:25
  SPEAKER_00: And this does not fluctuate.
• 0:27
  SPEAKER_00: Now let's go over why people actually get blocked.
• 0:29
  SPEAKER_00: Because I see this all the time, even with an account like WISE, it has nothing to do with crypto.
• 0:33
  SPEAKER_00: Sometimes you receive payments and your accounts get blocked for whatever reason.
• 0:36
  SPEAKER_00: Ourselves here, that happens a lot.
• 0:38
  SPEAKER_00: We get it unblocked, but it does get blocked.
• 0:40
  SPEAKER_00: Why does it get blocked though?
• 0:41
  SPEAKER_00: Same reason why a crypto transfer would get blocked.
• 0:44
  SPEAKER_00: The bank or the exchange doesn't really know or like where the funds are coming from.
• 0:48
  SPEAKER_00: For example, let's say I had a client, they send me a bank transfer.
• 0:50
  SPEAKER_00: The bank might not know this person too well, or maybe there's something flagged on their account.
• 0:54
  SPEAKER_00: Now, when I receive this, you I have to explain what their name is, what they're paying for, where they're from, their date of birth, all these things.
• 1:01
  SPEAKER_00: I provide that and it's fine because I'm doing legitimate business, right?
• 1:05
  SPEAKER_00: But it's getting blocked regardless.
• 1:06
  SPEAKER_00: And that's something you want to get removed from your life.
• 1:08
  SPEAKER_00: You don't want to have to deal with blocks.
• 1:10
  SPEAKER_00: And same thing with crypto, right?
• 1:11
  SPEAKER_00: If you're receiving crypto from odd sources, this is gonna happen, right?
• 1:14
  SPEAKER_00: If I got a bank transfer from Apple, the company Apple, I'm not getting any blogs, right?
• 1:19
  SPEAKER_00: It's Apple, everyone knows Apple.
• 1:20
  SPEAKER_00: So, same thing with crypto.
• 1:21
  SPEAKER_00: If you're getting crypto transfers from individuals, this is a really easy way for your account to get blocked.
• 1:26
  SPEAKER_00: And I say this because one of the more popular ways to cash out crypto until now is P2P.
• 1:31
  SPEAKER_00: Technically, it is compliant, however, the bank doesn't like this, right?
• 1:36
  SPEAKER_00: So, what is P2P?
• 1:37
  SPEAKER_00: P2P means peer-to-peer.
• 1:38
  SPEAKER_00: So, for example, let's say you go to Binance, let's say you cash out a thousand dollars.
• 1:42
  SPEAKER_00: Okay, you cash that out, Joe Schmo sends you a thousand dollars and you give them a thousand USCT.
• 1:47
  SPEAKER_00: Great, but the bank doesn't like Joe Schmo.
• 1:50
  SPEAKER_00: Joe Schmo did some funny business two months ago with someone else.
• 1:52
  SPEAKER_00: Now they're asking you where these funds are coming from, blah blah blah, all these things.
• 1:56
  SPEAKER_00: And in some cases, not to fearmonger, but the reality in some cases, even the police can get involved saying, Why did you get money from this person?
• 2:04
  SPEAKER_00: Even though you have the transaction proofs in Binance, etc., who knows that you didn't orchestrate it through the exchange to make it seem like you, you know, you were not a part of it, right?
• 2:12
  SPEAKER_00: So you never know.
• 2:13
  SPEAKER_00: So that's why people don't like P2P anymore.
• 2:15
  SPEAKER_00: I do not like P2P, I am opposed to people using P2P.
• 2:19
  SPEAKER_00: So if you want compliance cash outs, what you need to do is deal directly with the exchange or one very trusted partner, which in some cases that would be unregulated crypto cash outs, but anyway, how do you do this?
• 2:30
  SPEAKER_00: Well, you can get a partnership with many exchanges: Binance, OKX, M2, Kucoin, etc.
• 2:35
  SPEAKER_00: These exchanges do offer OTC.
• 2:37
  SPEAKER_00: In the case of Binance, right now they don't offer OTC.
• 2:40
  SPEAKER_00: However, some of the other ones on our list do.
• 2:41
  SPEAKER_00: Now, of course, if you're looking for our private relationship manager that we have here at GenZone, that all of our Gen Zone clients use to cash out their crypto without any issues.
• 2:49
  SPEAKER_00: It's mostly targeted for high net worth individuals.
• 2:51
  SPEAKER_00: So if you're looking to cash out bigger amounts, no issue.
• 2:53
  SPEAKER_00: If you even if you're looking to cash out a million dollars, it's fine.
• 2:55
  SPEAKER_00: We can we can use this provider.
• 2:57
  SPEAKER_00: But everything is done compliantly.
• 2:58
  SPEAKER_00: KYC, KYB is done.
• 2:59
  SPEAKER_00: When it's sent to your bank, it's not sent by some random person, it's sent by the exchange itself, which lowers your risk of blockages.
• 3:06
  SPEAKER_00: And if your account does get blocked, you will have that additional support since we do have a private relationship manager.
• 3:11
  SPEAKER_00: Now, the next thing you want to do is work with banks that are a little bit more familiar with cryptocurrency.
• 3:16
  SPEAKER_00: So, for example, Emirates NBD is very good for this.
• 3:18
  SPEAKER_00: Also, Rackbank recently added a crypto function to their platform, so they're becoming more crypto friendly.
• 3:23
  SPEAKER_00: Wheel Bank is okay for this.
• 3:24
  SPEAKER_00: I haven't had any issues personally, but they don't allow direct cash outs to their bank with some exchanges.
• 3:30
  SPEAKER_00: So the best option would be Emirates NBD.
• 3:33
  SPEAKER_00: Again, here at Gen Zone, with any setup you do with us, we can help you get this Emirates NBD personal bank account so that you can go ahead and cash out your crypto.
• 3:40
  SPEAKER_00: Now, on one of our recent videos, I had a client mention, oh Kevin, you can't guarantee that your accounts will not get blocked.
• 3:44
  SPEAKER_00: And I agree with you.
• 3:45
  SPEAKER_00: I cannot guarantee this.
• 3:46
  SPEAKER_00: However, if you're doing it in the best way possible, the most compliant way possible, it lowers the chances of getting blocked.
• 3:52
  SPEAKER_00: Now, going over our own case studies, because I didn't just start promoting this.
• 3:54
  SPEAKER_00: Right when we started doing this, I've waited a long time to get this partnership in place, go through many, many transactions with high-level volume, and then now I'm starting to promote it.
• 4:01
  SPEAKER_00: So let's go over some of our own case studies.
• 4:03
  SPEAKER_00: I've had some clients send millions of dollars without any issues at all.
• 4:07
  SPEAKER_00: Because the reality is if you are compliant, the bank does want to support you.
• 4:11
  SPEAKER_00: You just have to stay inside the legal playing field.
• 4:14
  SPEAKER_00: If you're doing things illegally shady, okay, it's gonna be an issue to prove things.
• 4:18
  SPEAKER_00: Even though to be honest, you can probably still prove it.
• 4:20
  SPEAKER_00: But the best thing to do is stay as compliant as possible so you build that relationship with the banks, right?
• 4:25
  SPEAKER_00: That's what you want to do.
• 4:26
  SPEAKER_00: So, of course, if you're looking to cash out crypto in Dubai, do it the right way.
• 4:29
  SPEAKER_00: Make sure you're doing it compliantly because if you do it in the way that's not supposed to be done, you might come into having issues.
• 4:34
  SPEAKER_00: So, for the purpose of this video, what are ways that could give you issues using unregulated payment providers?
• 4:40
  SPEAKER_00: For example, there's a lot of cash outlets in Dubai that allow you to convert and swap crypto.
• 4:44
  SPEAKER_00: They operate openly.
• 4:45
  SPEAKER_00: To be honest, I don't understand how, but anyway, they operate openly.
• 4:48
  SPEAKER_00: I'm guessing they're getting fines, but their profits just make the fines irrelevant or negligible.
• 4:52
  SPEAKER_00: And then maybe you get that cash, you deposit it into your bank, and then maybe the bank asks, Oh, where did this money come from?
• 4:57
  SPEAKER_00: You can try and prove it, and I'm sure to be honest with you, it might still be okay, but you don't want to have to go through these issues.
• 5:03
  SPEAKER_00: Even these same providers can give you bank transfers from their bank directly, they can give you manager's checks, etc.
• 5:08
  SPEAKER_00: But it's not always compliant, so it's important to do it the compliant way.
• 5:11
  SPEAKER_00: So for crypto to fiat into your bank, you can use these exchanges, they're regulated by ADGM and VARA, which are the regulators, the main ones here in the UAE.
• 5:20
  SPEAKER_00: If you wanted to buy property, you can also cash out crypto very easily, legally as well.
• 5:24
  SPEAKER_00: I get manager checks and get bank transfers legally.
• 5:27
  SPEAKER_00: I want to say this really clearly because there's a lot of illegal stuff.
• 5:30
  SPEAKER_00: This is done legally.
• 5:31
  SPEAKER_00: So, of course, if you're looking for that assistance, send us a message, book a call.
• 5:34
  SPEAKER_00: We're more than happy to get on call with you, break down everything in detail.
• 5:37
  SPEAKER_00: And of course, if you need further assistance, you can watch any video on the channel or comment down below, and we would be more than happy to get back to you.
• 5:43
  SPEAKER_00: Now, of course, if you're looking for more information about this, you can watch this video right here that goes over it in a little bit more detail.