Anchor - Buy Bitcoin and Ether Ratings and Reviews

Taking a chance. Lets see how it goes

Update: I received the email that my ADA purchase was available for withdrawal. I was able to transfer my currency to my hardware wallet just fine. I ensured my vpn was disconnected. The app is giving me an alert that they are not able to process my brokerage account and that my name is on the waitlist but my account was already verified. I don’t know why I am getting the alert. There was no issue for me with this app so I’ll keep the 5 star rating and will continue to purchase ADA with this exchange.

After reading some of the latest negative reviews, I was hesitant on trying out this app. So far so good though.I was able to get verified quick and linked my bank account to purchase Cardano(ADA).I turned off my vpn on my phone to avoid any technical issues. I decided to invest a very small amount in case something shady occurs within this platform.

If there is no issue, I will invest more and keep my rating at 5 stars. If I come across issues, I will contact support first and depending on how well the experience is there I may lower the rating down to 1 star.

No issues thus far

Very happy with my time on AnchorUSD. Haven’t had any issues with transferring money into my bank and making purchases. Hoping that anyone who has had those issues will get resolved in time. I know that there is a huge amount of people starting to flood these crypto apps and this isn’t the only app supposedly lagging in customer support. I see this as a credible app because of its support through IBM and it made me feel much more secure on taking a chance on a newer mobile app. I would say this app is great for investing, The interest has been great and always come through my account daily. I wouldn’t recommend to someone who is trading often because the withdrawal times are slow right now and graphs are a bit off in current market price. I’m hoping that this will get fixed in time. Overall I am pleased and can’t wait to see what updates and coins they add in the future.

Unable to withdraw funds or transfer assets. Support Team are MIA.

It has been weeks from the time of writing this review that I am unable to withdraw my funds or transfer my assets. Each transaction has been pending and has not fully been executed. Blockchain/Crypto technology shouldn’t take weeks or months which some have reported via Twitter feed. What makes this even more bothersome is the fact that their support team never gets back to you and has gone MIA. When I first signed up for their App a couple of months ago the service appeared to be top-notch with a couple of flaws that were being addressing. In the last 4-6 weeks from now, I don’t know what happened. Their service is completely horrible; having your funds locked up on their platform and not being able to access it is very unsettling especially when their support team is not communicating with you or at least publically addressing the issue so their customers can feel comfortable. Many have been reporting withdrawal and transfer issues and some are saying they haven’t experienced it. Either way, it’s a chance you’ll be taking. After their lack of transparency, I am no longer a fan. I suggest you proceed with caution in using their service. Very disappointing.

THE MOST UNSAFE APP TO KEEP YOUR MONEY

this app is riddled with bugs and random "errors" that have left multiple people i know and myself at one point out of money, they have no active helpful customer service, so if you have a problem including if your money is unwithdrawable, consider your money stolen by them bc you wont get it back, best case scenario it will take 4 months like it did with me, i have other friends who are on 6+ months of blowing up customer service with no response or updates with $5k+ stuck in their accounts with no way to acess it. Accounts get randomly locked, there is sometimes random withdrawls and what seems to be anchor or another party comprimising accounts, just way too sketchy, and a complete failure of a company with no customer service, seems like a big scheme where they take peoples money every once in a while. Cant even send any crypto from wallet to wallet without them saying to contact their non existent customer service. The creators of this app need to be jailed and this should be a much more bigger deal than it is. Give acess to everyones accounts who got locked out for no reason/ refund those who had random unauthorized transactions. Absolutley inhumane

Missing money and no support since February!

I’ve sent someone 300 coins as a gift back in February. The amount was deducted from my Anchor account yet the intended recipient never received. I sent out an email to Anchor and they said that they’ll look into it. NO ONE GOT BACK TO ME!!! So I reached out to them again in April. They said that someone from wallet support would get back to me. It’s now May and still NO RESPONSE!!! A few days ago I tried a test transfer to my sons account to make sure it’s not just a problem with the previous recipient and sure enough the transfer never showed up in his account even though it was deducted from my account. This is causing a tremendous amount of fear and anxiety because I have a significant amount of money in my Anchor account and due to this past years shutdown, my income is limited. My biggest concern is now that my investments are seeing huge returns, will I be able to withdraw the profits without them mysteriously disappearing?! Purchasing coins works perfectly. The issue is sending, transferring, or withdrawing. My suggestion to anyone looking for an exchange to buy crypto is to avoid AnchorUsd!

Love/Hate relationship.....

For the longest, Anchor was my go to app. 100%. Ever since the spike of people wanting to begin investing, and the exchanges getting hammered, the app has been far from flawless. I haven’t had crypto logos present on my screen in days. (And yes, I deleted and download the app again.) I got 2 emails stating my funds were deposited into my brokerage account, only to see that money over 24 hours later... and for the second time, they doubled my money in the account so I’ll have to sit back and wait for them to catch it a week later and remove the funds. Remember I said they sent 2 emails? Well, I’ve sent multiple emails in the last month trying to get assistance and have gotten 0 replies. My buddy got a reply within 24 hours. 🤷🏽‍♂️ Nothing more stressful than having to worry about money because your exchange won’t answer simple questions. This app is so clean and easy to use, I just hope they get things together soon. 🙏🏽

AnchorUSD is a Ponzi scheme

AnchorUSD is using the deposits of new clients to pay the withdrawals of other clients. AnchorUSD is insolvent and will one day have to answer for their gross mismanagement. After nearly 40k in deposits i made with the most ease, AnchorUSD is not permitting withdrawals. As of this post they are more than a month late (beyond their posted extended deadline of a week) on withdrawals totaling 3k. The remainder of my funds are forever inaccessible, because I cannot withdrawal my funds. I added a new bank to see if that would make a difference and In the verification process, AnchorUSD had no issue with their instant verification deposits into my bank that were less than a dollar each. Customer service has an auto generated response that this matter is going to be escalated and that they will get back to me with updates, and of course they never do. I recommend everyone to submit a formal complaint to the BBB, because we need to hold this company accountable. Do not use this app at all costs it’s not worth trading with them. Predatory business dealings alert.

Looking worse and worse

I hear that you should be patient with them because of all the new popularity, heres been my experience so far, i got verified quick, great, got a couple coin and after a bit of time i sold them, alright cool. I go to withdraw the money now that i could use it and... 2-3 day wait. Alright, not a problem, i wait... and i wait some more, 3weeks go by, whats up? I send in a ticket which doesnt get answered, so I message the twitter, they get back and say the money from my bank has to be verified, i mean... alright i had to send money from my bank to buy coin but okay, i show proof of my bank approving a new transfer. Im told wait till Tuesday to withdraw and everything will work fine. Tuesday comes along, more problems spring now. Not only can i not withdraw what i earned, im being shown that the coin i sold i now equally owe back money for? I message the twitter again, im ignored, few more days pass, im ignored, now im writing a review to say: dont, its not worth it, they took my $50, Ive seen some people say their $2000 on reddit is gone, dont use this, if you want a crypto currency app use coinbase.

Scam City

I am beyond disappointed with this app. How or why Apple would continue to have this app available is beyond me. Maybe they get a kick back? Back in mid 2021 I made 3 separate purchases. My first 2 went through without a hitch. No issues. The 3rd however is where the problem started. Made a $50 purchase and all though the crypto was added to my account the funding stalled. I tried several times to pay the negative balance to bring the account up to date with zero luck. I contacted support and I was told they were having issues so I just forgot about it. Now after two plus years I still can’t fund the account even after jumping through all their verification hoops. Customer support stated to sell crypto so I could fund the negative balance on the account which is fine but it won’t allow me to sell either so I’m basically stuck. Luckily I didn’t invest much but I still lost $65 after funding if that were even possible. FIND A BETTER WAY TO BLOW YOUR MONEY!! Skip this app 100%

Developer Response ,

Thank you for the feedback. This doesn't sound like the quality of support we normally provide. Please write in again to support@tryanchor.com with the following reference ID so we can help you ASAP: 405943. Looking forward to getting this sorted!

Go elsewhere. FTX, CB PRO, BINANCE, KUCOIN are better

I loved this app at first. Bank transfers were quick and easy, decent selection of coins to purchase, automatic interest payments, etc. eventually things started to fall off. The functionality is now extremely lacking. Some charts do not have views for certain timeframes (i.e- weekly shows, but not monthly), the overall view, which is a hidden feature for whatever reason, no longer works, and most importantly, you CANNOT TRANSFER YOUR FUNDS TO OTHER WALLETS. Well, ok, you can with some but not with others- ADA, ATOM and a few others WILL NEVER TRANSFER. And when you reach out to customer service, they simply do not exist. It’s tragic, really because this could be a go-to mobile exchange but is ultimately just a complete disaster. I am liquidating all my holdings (yes, I have to sell and have a taxable event because the app will not let me transfer to other wallets, but whatever, at this point it’s worth it) and migrating to other exchanges. Do yourself a favor and stay away from ANCHOR.

Developer Response ,

Hi, We appreciate your feedback. I’m not able to find any conversations with our team for this issue. Would you mind writing in to our support channel so we can help you directly? You can reach us at: support@tryanchor.com - Please provide your reference ID: 795647. We look forward to getting this sorted out!