USDt is same like Paypal or Neteller in a digital form, so you exchange your FIAT dollar to digital dollar.
Tether --->
http://tether.to/So open account with them, get verified.
Then Wire your fund into this your account here. u can open EURO, USD and YEN. MYR is not supported.
Then you can spend your USDt to many exchange
https://www.bitfinex.com/https://www.cryptopia.co.nz/https://poloniex.com/https://shapeshift.io/https://www.kraken.com/I'm using POLO as an example. They don't allow WIRE incoming, so use alternative which is USDt.
Debit your tether wallet, credit your polo USD account.
So TL;DR
CIMB/Maybank --> Tether Wallet (Wire deduction etc) --> POLO (no charges) ---> buy BTC ---> sell BTC --> get dollar (USDt), then sent back to your Tether
Wallet (Charge 1$ per transaction)
Tether to POLO and vice-versa transactions takes as fast as BITCOIN transfer. Because it is using OMNI layer protocol.
Question led to answer by Tether. Since they PEGGED their USDt to USD, why there is big movement breakdown in USDt?
It should be always 1:1 (~ +/- few percentage is normal)
Thanks a lot for your kind explanation. Really helpful.