What is usdt?

Lets say I sell some altcoins for usdt.

How do you cash out that usdt?

Is usdt US dollars?

If for example I have 100 usdt, can I ask binance to send that to a US dollar denominated bank account in malaysia?

Yes

got 1 million usdt?

USDT = USD Tether = a pegged stablecoin where 1USDT=1USD*

Go to any p2p platform which accepts MYR and USDT and convert your USDT to MYR.

*according to the tether company

you dont ask binance to do anything, you use binance as a platform to engage other p2p traders on binance who want to buy your USDT and pay you MYR.

This post has been edited by parkluyann1: Oct 7 2021, 08:27 PM

nope. Just wondering how to turn crypto into fiat efficiently.

Especially since bank negara like to kacau.

I don't mind if I don't have rm. I keep usd also can. That way bank negara can fakof. Don't give me problems

If I don't want to convert to myr, can I accept usd? I plan to open usd denominated account in malaysia. Then send usd to that account. You think this will work?

I know now people got some workaround using the binance thing.

But what if I don't change to MYR. That way no issue right?

what I did was buy USDT at 4.17, sell them at 4.20

easy profit everyday

binance dont convert usdt to cash for you, you have to do it yourself by selling it

yes what?

This

Honorable job as a liquidity provider for some earning

and make sure ppl who transfer money to your bank account didn't put remarks as crypto, Bitcoin, usdt

Ok I have some issue understanding....

Lets say I have 1 dogecoin.

How do I turn that dogecoin into usd?

Is it sell dogecoin/usdt?
Then usdt cash out to usd and transfer that to bank?

Can I go from dogecoin straight cash out to usd?

Us dollar tether
1 USDT =~ 0.95 USD

yes, can provided someone is willing to pay you in usd for it and send to your bank a/c

Sell to XRP > transfer to local CEX that accept XRP > sell for fiat

you have to sell the dogecoin in the exchange. There will be a trading pair like DOGE/USDT. Sell it to get USDT.

USDT you can sell in P2P market for MYR. No need to sell USDT to USD.. just straight USDT -> MYR

Some exchange you can sell doge directly I think, not sure.

This post has been edited by amir.asyraf: Oct 7 2021, 08:43 PM

As far as i know, cannot. because almost all crypto p2p traders in malaysia only will accept MYR as payment. Unless you personally find one p2p crypto trader in malaysia who is willing to trade with you in USD for your USDT.

Even if you go to USD section p2p on binance, its gonna be very headache if they transfer money to your USD denominated bank account in msia, but their bank account is from US, probably gonna take days to clear. Almost all p2p traders only accept instant. You're probably gonna get scammed so hard if you do this.

If you die die want USD, just trade USDT to MYR, take MYR go money changer and change for USD

There might be a way to do what you want though which i don't know about. better to ask other sifus

You know last time at school got Hari Kantin and you exchange money to buy voucher that you can use? USDT is like that voucher.

This post has been edited by whyamiblack: Oct 7 2021, 09:18 PM

Usdt is a long con. But I still use it anyway.

The day usdt collapse is the day crypto will be screwed at least for some time

I'm asking because binance is banned. I know becaues of bnm, the local banks sure kacau your funds if it's converting to myr.

That's why I'm asking if we can just send direct usd. Because if that's the case, then the banks won't kacau right? I can just change crypto to busd. Then send fiat usd to my bank account.

This post has been edited by thelws: Oct 7 2021, 09:46 PM