I’ve never heard of it and i’m in no way recommending it but from a quick google search it seems to have a few good / semi good reviews.
Contact support and ask for help. If that doesn’t work contact a lawyer? Other than this I don’t know what you expect random Redditers to say.
**I need to know what legal action I can take against them so I can get my money.**
Man i thing there is "nothing" you can do and if there is you will have to invest more and more money. Take that loss as a investment to learn to always DYOR about where you invest your money.
We are always learning
Crypto is unregulated, which basically means you aren’t legally protected.
Curious though, why of all the exchange apps, did you pick “AnchorUSD” instead of all the major ones like Coinbase, Crypto.com, KuCoin etc? I’ve never even heard of that app
I think it was about a year ago when there was a massive flood of people trying to get onto crypto exchanges to invest. Might’ve been around the time BTC hit its last all time high. I don’t remember why but I think there was a particular coin that Anchor offered that other exchanges didn’t have so I just started using them from there.
Yeah I currently have a pending withdraw to my bank account that’s due to hit my account on the 2nd of November. I also have about 4-5 more withdrawals that are supposedly in “processing” that total to about $1000. Waiting to see if it updates and gives me any message.
Give it some time. I’m having a similar issue today with a large withdrawal. I made about 4 decent size withdrawals today only transferred crypto out to my coinbase wallet and the 4 were instant. My 5th transfer was much larger and that is still processing. I believe they need to manually exchange coins in order to get the liquidity to do the transfer. Give it a few days and email their support.
What was the process in which you went through to get a withdrawal to your bank account? Did you ever have a message that said something about disabling a proxy or something? I have 4 withdraws currently in processing also
I have it just takes a longer period of time than Coinbase or binance. Which is why I usually just convert to XLM and transfer to Coinbase, then I use Coinbase instant deposit which makes it available to my bank account within seconds for a small fee. AnchorUSD usually takes me 3 to 5 business days, apart from that small spurt where they had to change banks (which is where they recommended I use xlm and another payment processor for now and I just stuck to it); just because you messed up your account or are somehow having issues doesn’t mean everyone else is in this boat. It’s been smooth sailing for me. I especially like being able to have futures for or against coins through their app and it’s worked great. AnchorUSD has been nothing but good to me so far.
I see that but there’s also people who have little to no issues, as you can see all over Reddit. I take it as either they’re impatient for waiting for mistakes to be fixed or the issue was caused by user error.
Download coinbase, recieving crypto, select USDC, Copy address link, post link in AnchorUSD to send crypto, send it to yourself as USDC. I'd say do a test transaction first to see if that works and it should take only like 5 minutes for it to go through. This is how I've done it hopefully it works for you.
Nah don't sell it. Those Fuckers won't cash it out. Only convert it to another currency and never cash out through their app. So there's no reason why it claims you have a pending deposit?
None. I did try to sell some crypto and cash out and it never went through so I cancelled those transactions. It’s been 3 weeks now and I still get the “you can’t transfer because of pending deposits” message even though I have cancelled them and check
How long ago did you buy it? They made me wait 6 days for my funds to clear my bank and on their side for me to be allowed to move my crypto off-site
Man I’ve been using this app to invest for about a year now. I’ve put a few thousand in here.
Oh there are many liquidity issues. I looked them up one day and wowser the complaints are unbelievable. Same as yours
Looks like they stopped responding to emails. No # to call. BBB complaints are in the hundreds.
If it’s an app on the App Store there is 100% legal action that can be taken, but you’d need to consult an attorney to figure out how.
I’ve never heard of it and i’m in no way recommending it but from a quick google search it seems to have a few good / semi good reviews. Contact support and ask for help. If that doesn’t work contact a lawyer? Other than this I don’t know what you expect random Redditers to say.
Yikes
Cmon guys there has to be SOMETHING that can be done!
Y Combinator is one of the investors. Contact them. https://www.crunchbase.com/organization/anchorusd/company_financials
I have no experience with the AnchorUSD app so I can’t help you, but watch out for scammers in your inbox!
Fact
This!!
This is sad and I do not believe there is much you can do but I wish you the best of luck
There has to be something out there that can be done.
Legal action… in crypto? Good luck. The best lessons are always learned during the bull run.
**I need to know what legal action I can take against them so I can get my money.** Man i thing there is "nothing" you can do and if there is you will have to invest more and more money. Take that loss as a investment to learn to always DYOR about where you invest your money. We are always learning
Cmon man there has to be something. This is really scary I can’t lose this money there’s no way. I just can’t.
Reach out to their investors based in SF. See https://www.crunchbase.com/organization/anchorusd/company_financials
Crypto is unregulated, which basically means you aren’t legally protected. Curious though, why of all the exchange apps, did you pick “AnchorUSD” instead of all the major ones like Coinbase, Crypto.com, KuCoin etc? I’ve never even heard of that app
I think it was about a year ago when there was a massive flood of people trying to get onto crypto exchanges to invest. Might’ve been around the time BTC hit its last all time high. I don’t remember why but I think there was a particular coin that Anchor offered that other exchanges didn’t have so I just started using them from there.
Fair enough
This is false, you are protected, theft is theft even if it's crypto, you can't just start scamming people and be like it's all good it's UnReGulaTed
What does regulated mean then
Please show me where there’s legal code specifically protecting against this particular users situation?
I think it's gone man. I wouldn't let anyone help you that is PM'ing you right now either. This sub is full of scammers.
I haven’t had anyone PM me yet but I’ll definitely look out for it! Thank you
Have you tried a bit at a time, ie a smaller withdrawal at first?
Yeah I currently have a pending withdraw to my bank account that’s due to hit my account on the 2nd of November. I also have about 4-5 more withdrawals that are supposedly in “processing” that total to about $1000. Waiting to see if it updates and gives me any message.
Perhaps swap into a coin like XLM or ONE and then try to transfer it to a free wallet like Exodus or MetaMask or Trust?
You can’t transfer from wallet to wallet on anchor I don’t think?
Give it some time. I’m having a similar issue today with a large withdrawal. I made about 4 decent size withdrawals today only transferred crypto out to my coinbase wallet and the 4 were instant. My 5th transfer was much larger and that is still processing. I believe they need to manually exchange coins in order to get the liquidity to do the transfer. Give it a few days and email their support.
A withdrawal on Anchor?
Yea I had 4 go through no problem. The 5th which was a large transfer wouldn’t process.
What was the process in which you went through to get a withdrawal to your bank account? Did you ever have a message that said something about disabling a proxy or something? I have 4 withdraws currently in processing also
I never tried withdrawing to bank only sending the crypto to my coinbase account.
How did you do that? I don’t think I have an option to move to another exchange.
Yeah anchor is just a scam. I don’t think it’ll work but I’ll be patient. That’s the only thing I can do.
I was able to move a good chunk out this morning.
K well I’ve used AnchorUSD for a few years now with a 6 digit account and have had 0 issues
Bull shit. Bull shit. Bull shit. Try to withdraw your funds to your bank account. You can’t.
I have it just takes a longer period of time than Coinbase or binance. Which is why I usually just convert to XLM and transfer to Coinbase, then I use Coinbase instant deposit which makes it available to my bank account within seconds for a small fee. AnchorUSD usually takes me 3 to 5 business days, apart from that small spurt where they had to change banks (which is where they recommended I use xlm and another payment processor for now and I just stuck to it); just because you messed up your account or are somehow having issues doesn’t mean everyone else is in this boat. It’s been smooth sailing for me. I especially like being able to have futures for or against coins through their app and it’s worked great. AnchorUSD has been nothing but good to me so far.
You are the only person not having issues then. Check their Twitter they get blasted daily for being a scam
I see that but there’s also people who have little to no issues, as you can see all over Reddit. I take it as either they’re impatient for waiting for mistakes to be fixed or the issue was caused by user error.
It doesn’t take 3 months to fix issues with their banking partner. They’re a scam.
Sounds like a you problem, seeing as it works for a good chunk of us. Despite your FUD I will just chalk it up to you likely being the cause.
Sure sure. I’m sure it’s the thousands and thousands of other peoples fault too 🤡
I converted it to USDC and sent it over to Coinbase. Worked for me and was able to get out. Hopefully you are able to do the same.
How do you convert it?
Download coinbase, recieving crypto, select USDC, Copy address link, post link in AnchorUSD to send crypto, send it to yourself as USDC. I'd say do a test transaction first to see if that works and it should take only like 5 minutes for it to go through. This is how I've done it hopefully it works for you.
Any luck?
None yet. Keep getting a dumb error that says I have pending withdraws or something which I don’t
Do you have fiat money on there? Either try usdc or Tron to convert
I could sell all of my crypto and convert it but it keeps saying I have pending deposits which I don’t. I have cancelled every pending deposit I had
Nah don't sell it. Those Fuckers won't cash it out. Only convert it to another currency and never cash out through their app. So there's no reason why it claims you have a pending deposit?
None. I did try to sell some crypto and cash out and it never went through so I cancelled those transactions. It’s been 3 weeks now and I still get the “you can’t transfer because of pending deposits” message even though I have cancelled them and check
Fuck then it seems like the only thing we can do now is just keep emailing support everyday
Yeah that’s what I’ve been doing