**Hong Kong Cash-Out Pitfall Prevention Guide: Five Must-Know Tips for Beginners**

After Hong Kong secured the world’s first stablecoin license, starting from August, only officially certified stablecoins can be traded. What does this mean for regular users like us? — Compliance is no longer “nice to have,” but a “must-have.”

**Do Your Homework—Don’t Get Burned by Information Gaps**

Before exchanging USDT in Hong Kong, don’t just rush in blindly. Search on Xiaohongshu, Telegram groups, and WhatsApp communities to check real-time exchange rates at money changers and see if there are any reported scams or runaways. Remember this principle: chain stores are relatively more reliable; single-location shops are much riskier.

The “Chang Teng Exchange” and “Daniu Coin” in Tsim Sha Tsui are bloody lessons—after collecting coins, they closed shop and disappeared, with losses totaling tens of millions. Newbies are most likely to fall for this, often for the sake of convenience or saving a few bucks on exchange rates.

**Strangers Asking You to Exchange for Them? Block Immediately**

Some scams specifically target mainlanders in Hong Kong. The trick goes like this: they transfer RMB to you, ask you to exchange it for HKD, and then buy USDT to transfer to them, claiming you can “earn a commission for running errands.”

Never believe it. If the money is linked to fraud, your account will be frozen, and worse, you could be charged as an accomplice to money laundering. You may face intense scrutiny when you return to the mainland. Remember: always refuse any requests to pay/receive money or exchange coins for strangers.

**Visiting Shops in Person Is the Way to Go**

When in Hong Kong, search for “Hong Kong OTC” on Google Maps or Amap. Here’s how to pick a store:
- Prioritize locations with heavy foot traffic in commercial areas
- Check if the store looks legit and transparent, and if exchange rates are publicly displayed
- Avoid small, remote shops—the risk of them running off is much higher

No matter how many online guides you read, nothing beats seeing it in person.

**Complete Walkthrough of Exchanging USDT in Kwun Tong**

Here’s a step-by-step demo for beginners: Enter the shop → tell the staff how much USDT you want to exchange → scan their wallet QR code → transfer USDT → staff confirms receipt → receive HKD cash on the spot.

Once you get the cash, you can go straight to the HSBC branch across the street to deposit it into your account. The whole process takes less than 5 minutes—simple, fast, and transparent.

**Three Golden Rules—Etch Them into Your DNA**

1. **Safety Always Comes Before Speed**
The more rushed you are, the more likely things will go wrong. Take an extra 30 minutes to do your research.

2. **Compliance Costs Are Not Wasted Money**
Trying to save a few bucks can cost you much more. Always follow the proper procedures.

3. **No Receiving, No Paying, No Exchanging Coins for Strangers**
Protect yourself so you can stay in the game long-term.

There are no shortcuts when it comes to cashing out. Steady and safe is the only way to go.