Tried withdrawing funds using @Backpack_CN. I initiated the withdrawal yesterday and received the funds this morning.
Withdrew 1000 USDT, and the fee was 20 USDT, which seems to be charged by the bank partnered with Backpack.
The overall experience is much better than Kraken, especially with the direct 1 USDC = 1 USD exchange rate—it’s very convenient.
Previously, Kraken required converting USDC and USDT into USD first, which incurred a fee. Then, withdrawing USD to a Hong Kong bank card would incur another fee, leading to significant losses.
With Backpack, there seems to be only this one fee, and the funds arrived a day earlier compared to Kraken.
I hadn’t paid much attention to Backpack before, but now I’ll likely use Backpack as my go-to exchange for daily transactions. Secure withdrawals are a must.
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