You can start verification by creating an account on our website at https://dashboard.anchorusd.com/ . You can also download the app and go to Settings -> Verification Levels.
We currently have 3 Verification Levels:
Level 1 – Deposit unlimited crypto, trade without limits, earn interest without limits, withdraw up to $5k USD per day of crypto
Level 2 – Withdraw up to $25k USD per day of crypto. Fiat transactions (deposits and withdrawals) up to $5k USD per day
Level 3 – Unlimited crypto and fiat transactions
In most cases, verification for Level 1 and Level 2 takes just a few seconds. If we need to request additional information, we will let you know. Please allow 1-2 business days for the review of submitted information, and a bit more time for reviewing international documentation.
From the app:
1. Tap on Portfolio
2. Tap on the Plus (+) button in the upper right hand corner
3. Find the currency that you’d like to deposit. Tap it to view your unique deposit instructions. For certain currencies, a destination tag or memo is also required. Please be sure to include that in your transaction.
We currently support the following methods:
Debit / credit cards: best for small amounts
Direct bank transfers: best for investing larger amounts
Wire transfers: best for individual large transactions
When you deposit from your bank account, funds are available to trade instantly, and earn interest instantly.
You should generally see funds debited from your bank account within 1-2 days, and funds will "post" (become available to withdraw) to your AnchorUSD account in 2-3 business days.
No, there are no lockups and you are free to withdraw your funds at any time.
There is no waiting period. We initiate the transfer to your bank account as soon as you make the withdrawal request. Generally, your bank will recognize the transfer to your account within 1 business day, and post funds to your available balance within 2 business days. The exact timing may vary depending on your bank.
Interest is paid out daily, at approximately 3am Pacific Time (10:00 UTC).
You can view the current interest rates within the app, by navigating to Settings -> Interest.
You can begin earning interest once you have achieved Verification Level 1.
All standard USD balances are held as cash in pooled custodial accounts operated by a chartered, qualified custodial trust company. The trust company holds the funds at one or more banks insured by the Federal Deposit Insurance Corporation (“FDIC”) and/or in US Treasury instruments. The custodial accounts have been established in a manner to provide eligibility for pass-through FDIC insurance up to the depositor coverage limit, which is currently $250,000 per individual.
Funds in AnchorUSD Interest Accounts are protected by AnchorUSD’s commercial criminal and cyber insurance policies. The policies insure against theft that results from a security breach or hack, employee theft, or fraudulent transfer.
Our policy does not cover any losses resulting from unauthorized access to your AnchorUSD account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access AnchorUSD.
We support Two Factor Authentication, and strongly encourage this for all users. We utilize the one-time-password method for Two Factor Authentication, due to its higher security in comparison to SMS-based authentication. You can enable Two Factor Authentication under Settings -> Two Factor Authentication.
Additionally, we provide a Security Lock feature where you can require Biometric Authentication (Face ID / Touch ID) or a PIN code for all transactions (enable under Settings -> Security Lock). Finally, we require a separate email confirmation for all new Withdrawal addresses and bank accounts, as an additional layer of security.
We are reachable via email at support@anchorusd.com.