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Author Topic: Why you should reconsider using ANX PRO  (Read 110 times)
OneTimeUser123
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September 18, 2017, 09:47:29 AM
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Hello Everyone,

I am here to talk about my experience with ANX - online Cryptocurrency wallet. It was not a pleasant nor satisfying one. I would not recommend anyone to use it.

I am based in Hong Kong, so there are limited cryptocurrency ventures here. Below is my personal experience and would like to share it so that whoever is researching about getting into Cryptocurrency in Hong Kong would not have to experience what I experienced.

1) Online registration for ANX is relatively simple, but like most other Cryptocurrency sites, you would need to pass its KYC. It requires your ID card (HK ID) and proof of address (can be from Government, Banks, etc. - last 3 months). For proof of address, I had no recent Government documents, so I planned to use my bank statements. I went to my bank H*** S*** and it turns out I would need $55HKD to print a proof of address. They told me to use my e-statement and said that should be than enough.

I did the above but was rejected (took over 1 week before ANX responded - although the site said 24 to 92 hours). They said my KYC cannot be processed as it is an e-statement. Luckily, I did some banking during my trip to the bank. So on the same day, I received a mailed out proof of address. This took another week to be approved.

Issue:
- They claimed e-statement is not good enough of proof, yet even my bank asked me to use it. Also, if e-statement is not a good proof, they ANX themselves should be mailing everything out instead of doing it online. My point is, if you claim something is not valid, yet your own company uses it as a mean of communication, then I suggest the company to actually appreciate this as proof. I am sure many Hong Kongers would share my pain in finding a proof of address nowadays with everything being e-statements and a $55HKD charge to prove where we live.
- If you do not allow e-statement, then I suggest to have alternatives such as allowing users to pay a small flat fee to your company for mailing out the verification code instead. This is because Bank statements are not trust worthy as you might think (see next point):
- I had my address changed just recently in the last 3 months, hence, my issue with getting a proof of address. To be honest, changing it with a traditional bank was extremely easy. I am a customer with 3 of HK's top bank and all I needed was my HK ID. I verbally told them my address at the counter and they changed it for me. So what is so reliable about a mailed out statement vs e-statement then? Seems to me I can change it fairly easily. (also the fact that even these 'traditional' banks are more modernized than ANX surprises me) I could had given them my friend's address and grab the statement this way.
- I went to ANX's office to ask why they do not allow e-statements. The person told me: 'Oh, all you had to do was to print and scan it then send it to us.' I asked: Isn't it harder to detect fake/fraud address if I modify the address then print it then scan it? There are ways to look at modifications done on a computer document, but it is harder to detect scanned documents as it gets pixelated. The man just said: 'Yes, but our compliance would had taken in if you scan it.' (I did not want to question their practice any further)

This wasted 2 weeks of mine trying to get my account setup.

2) Putting money into the account is very difficult. There are only two ways currently (September 2017): By cheque or cash in person.

Issue: (more of a personal preference and my expectations not being met)
- Not having a cheque book is my own fault, I do admit (as I have no use for it)
- Submitting the cash in person requires a 0.1% fee - it is cash, usually cash is free I thought, as there are no middle man. Guess that's not the case here.
- No wire trasmiting. I thought we are living in the 21st century and your company based on Cryptocurrency, yet, there are no ways to transfer funds online? I find that really inexcusable from my point of view. For non commercial use, there are innovative tools such as Pay Me, Pay by Pay, Octopus made by traditional banks, yet I have to visit the place myself to deposit money for ANX.
- This took a while for me to put money into the account (luckily, the cash is registered into my account right away)

3) Bitcoin transfer. I transferred my ANX Bitcoin away to my G***** account as I was super unhappy with ANX service. G***** only required 2 days for KYC (though the site said 2 weeks), and allowed online money transfer (done in a day). Thing was, I thought Bitcoin wallet to wallet transfer was free (for most sites it was), but not ANX. The Fee section on the site does not mention about the 0.004 flat Bitcoin charge!

Issue:
- There is a cost to something like Bitcoin transfer. This blew my mind. I thought Bitcoin was about cheap transfer, easy, and fast (my next point). Why did it cost me this much to do it?
- It took me 10 hours (I transferred it in the morning at 10:00 am but received in my G***** account at 8:00pm). Why did it took this long? Isn't the blockchain supposed to be at most 1 hour max? I transferred Bitcoin and Etherum from my G***** account to others, took less than 10 minutes each. 10 hours is just too long. My Bitcoin disappeared in ANX and I did not see it in my G***** account. Where did it go?
- That seems like a fraud/mis-use of my Bitcoin by ANX. Else wallet to wallet transfer should not be like this.

4) Bad customer service.

Issue:
- I typed emails over and over to them about the above, yet I received no replies to my questions regarding their KYC practice or where did my Bitcoin go during those 10 hours.

Point 4 is the reason why I am typing it here. I just don't want anyone to have the same issue as me, so thought to let you know before you register.

To me, biggest issue is the concept this company sells (Cryptocurreny) does not fit with any of their operating model: Old fashioned KYC, longs transfer time, etc. Point of Cryptocurrency, from what I can understand, is breaking the traditional. This company is totally reversed and I am quite unhappy about the entire experience.

Anyways, hope you all have a good day and choose wisely on the company you use. I wasted 3 weeks with ANX compared to what I could had done with G***** in 3 days. 3 weeks in Cryptocurrency is day and night, so I hope no starters would have issues like me.



Cheers,
Unhappy user
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