AnchorUSD is an exchange that I use to recommend. You can use the app to buy and sell crypto and stocks. I have used the app to buy $XLM and $USDC. I also collected interest on my $USD and my $UNI that I've kept there in the past. All was good . . . until Thursday, April 29, 2021.
It was a nice day, $MATIC was pumping. I've been cooped up for weeks trying to compile all my crypto trades. Crypto taxes suck! I tried a couple of the different crypto tax helpers out there but I commited to TaxBit. Anyways, I know that I'm going to owe Uncle Sam some money and $MATIC was pumping so I decided to sell some. I sent it from Celsius Network to Pionex. There, I sold it to $USDT and sent it to AnchorUSD so I could sell it to $USD. However, AnchorUSD has not posted it to my account. Shit! $@@&#! I have the TXID and see it confirmed on blockchain so why isn't it in my wallet? I have sent several support tickets to AnchorUSD. I also contacted them here:
This is the only response:
Thank you for confirming the issue and providing the necessary information. I have referred this matter to our wallet operations team. Should you need an update on your status, it will be best to communicate using this thread to ensure that the appropriate teams are in the loop.
I NEED money to pay Uncle Sam! Please people learn from my PAIN! DO NOT USE AnchorUSD!
Now that I have read other people's complaints:
I don't know what to do? I was able to send my $UNI that was there to Celsius Network that was a little relief. If/when it is available do I sell for $USD like original plan? Or do I try to transfer it to another exchange to cash out? I'll give this post an update if the situation changes.
Update: 5/5/21 deposit received, 7 days later! I sold the USDT to USD and attempted to withdraw to my linked bank account:
We were not able to process your withdrawal of $4,000.00.
Identity document verification is required. Please upload your photo ID.
Funds have been returned to your account.
I have Level 2 Verification:
I then bought USDC with the USD from the USDT and was able to send it to Celsius Network.
This experience with AnchorUSD has stressed me and left me with feelings of grief, anxiety and energy wasted. AnchorUSD I hope you can do better for your other customers.
Thanks for reading!