Pros
Cons
Quick Summary
| Headquarters Location | Singapore |
|---|---|
| Fiat Currencies Supported | USD, AUD, GBP, CAD, EUR, NZD + 55 others (some through third party apps) |
| Total Supported Cryptocurrencies | 431+ |
| Trading Fees | -0.015% - 0.200% |
| Deposit Methods | Bank Transfer, Cryptocurrency, Banxa, Mercuryo, MoonPay, Simplex |
| Support | Twitter, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Welcome to our comprehensive review of AscendEX Exchange, one of the premier digital currency exchange platforms. Here we explore all aspects of the exchange to help you gain a full grasp of its services and features.
AscendEX Exchange stands out in a competitive arena of cryptocurrency exchanges by providing an intuitive platform that meets the needs of individuals looking for digital asset investment opportunities. Furthermore, their offerings appeal to traders looking to diversify their portfolio across multiple trading products.
AscendEX’s forward-looking approach has shown their dedication to growth and innovation, providing users with access to all of the latest advances in crypto trading.
About AscendEX
AscendEX (formerly BitMax) has made waves since its establishment. Led by industry veterans Ariel Ling and Shane Molidor, this cryptocurrency exchange offers a vast selection of digital assets across numerous trading pairs.
AscendEX prides itself on offering an accessible trading platform, catering to both experienced traders and novice traders.
Since entering the market, AscendEX has successfully navigated its way through the fast-changing cryptocurrency industry. Following its predecessors’ path and adapting to new regulations while meeting customer demands.
Market trends such as the surge of interest for tokens related to decentralized finance (DeFi), have informed AscendEX’s strategy. With such a shift in focus, they have sought out partnerships with various foreign companies and investment banks in order to broaden their digital asset offerings and broaden their scope.
This has established the exchange as an indispensable hub for traders searching for access to diverse markets ranging from Bitcoin and Ethereum to newer altcoin projects.
AscendEX has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram and YouTube.
AscendEX has a mobile app on both the Apple App Store and Google Play.
AscendEX Supported Cryptocurrencies
AscendEX supports trading on over 431 cryptocurrencies on their platform. This exchange currently supports 24 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies AscendEX supports
Trading Experience
AscendEX delivers an uncomplicated trading experience through its intuitive user interface and comprehensive set of trading features, from spot trading to derivatives trading services – AscendEX accommodates various trading strategies with ease.
Its dedication to offering an optimal trading environment can be seen through its continuous integration and upgrades of backend infrastructure.
AscendEX’s trading experience is tailored to meet the demands of a diverse trading audience, from those engaged in ordinary trading to investors seeking sophisticated investment options like perpetual contracts with up to 100x leverage. Seamlessly integrated trading features – Spot Trading, Futures Trading, Options For Staked Assets (OSAs) – complement backend integration services which ensure active traders experience responsive and reliable trading solutions.
The exchange’s commitment to offering an unparalleled cryptocurrency trading experience can be seen through its support for multiple currencies and offering a secure decentralized platform for those preferring that route for managing their crypto assets.
AscendEX Fees
AscendEX’s fees structure is tailored to be both fair and accessible for a diverse group of traders. AscendEX implements a tiered system with fees depending on trading volume; there may even be incentives offered to those deemed high value traders.
AscendEX may offer different fee rates to creators and takers in order to increase liquidity on its platform.
AscendEX’s fee strategy incorporates an inclusive approach, taking into account the diverse trading community. It offers equitable rates for novice traders utilizing bank card deposits as well as experienced traders utilizing leveraged trading or derivative trading features of the platform.
The exchange employs a non-static trading fee structure which adapts with traders’ activity over time, creating an engaging interaction between its financials and those of customers.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | 1% |
| Trading Fee | -0.015% - 0.200% |
| Withdrawal Fee (Bank Transfer) | 1% |
AscendEX supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC. The average across all other exchanges that we've reviewed is 0.000380 BTC. This means AscendEX charges above the industry average by 31.52%. This is worth noting because it likely means they are also charging higher fees and spreads across all cryptocurrencies on their platform.
AscendEX has a maker/taker fee schedule which you can see below.
| VIP Level | Trailing 30d Trade Volume (USDT) | Category | Trailing 30d Avg ASD Holdings | Maker / Taker Fee (Large Market Cap Assets) |
Maker / Taker Fee (Altcoins)
|
| VIP0 | ≥ 0 | OR | ≥ 0 | 0.1% / 0.1% |
0.2% / 0.2%
|
| VIP1 | ≥ 100,000 | OR | ≥ 5,000 | 0.09% / 0.10% |
0.18% / 0.20%
|
| VIP2 | ≥ 1,000,000 | OR | ≥ 20,000 | 0.075% / 0.085% |
0.16% / 0.18%
|
| VIP3 | ≥ 5,000,000 | OR | ≥ 100,000 | 0.06% / 0.07% |
0.13% / 0.15%
|
| VIP4 | ≥ 10,000,000 | OR | ≥ 250,000 | 0.05% / 0.06% |
0.10% / 0.12%
|
| VIP5 | ≥ 25,000,000 | OR | ≥ 500,000 | 0.04% / 0.05% |
0.075% / 0.100%
|
| VIP6 | ≥ 50,000,000 | OR | ≥ 1,000,000 | 0.03% / 0.04% |
0.05% / 0.07%
|
| VIP7 | ≥ 100,000,000 | OR | ≥ 1,500,000 | 0.02% / 0.03% |
0.02% / 0.04%
|
| VIP8 | ≥ 150,000,000 | AND | ≥ 2,500,000 | 0.000% / 0.025% |
0.000% / 0.025%
|
| VIP9 | ≥ 500,000,000 | AND | ≥ 5,000,000 | -0.015% / 0.020% |
-0.015% / 0.020%
|
Security - Is AscendEX Safe?
AscendEX takes security seriously, implementing a multi-tiered and multi-clustered architecture with multiple layers of protection such as two-factor authentication and cold storage for customer funds. Furthermore, AscendEX adheres to stringent protocols in order to minimize cyber attacks against its users and protect their accounts.
AscendEX’s security measures meet or surpass those found at trusted brokerage companies and blockchain security firms. Their guards go far beyond these standard protocols to include cutting-edge technologies to protect both customer funds and trading data.
AscendEX’s platform token and additional layers of protection against unauthorised access, such as its discretionary verification procedure, reflect their dedication to safeguarding user trust. Likewise, their cooperation with law enforcement to stop market manipulation and ensure fair trading conditions stands as evidence of their dedication to security.
AscendEX Customer Support
AscendEX puts customer service first. Their responsive support team quickly resolves inquiries or issues quickly.
Traders can expect assistance through multiple channels, ensuring they get help when they need it.
AscendEX’s customer service infrastructure is tailored to complement its robust trading system, providing customers with tailored support tailored specifically to digital asset trading. Their support team can assist customers with various queries ranging from verification process assistance and complex instrument resolution.
Customer service is at the core of the exchange’s philosophy, and efficient yet sympathetic support services are considered integral to an enjoyable trading experience.
AscendEX Support Channels
How to Sign Up on AscendEX
- Create Account - Visit the AscendEX website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
AscendEX Alternatives
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
282+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
333+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
AscendEX stands out among crypto exchanges with its user-focused design and comprehensive selection of trading options. Furthermore, this platform seems to continually innovate by adding features designed to improve trading experiences.
Crypto exchanges play a pivotal role in digital finance, providing access and possibility within this rapidly developing ecosystem. They have come to be recognized as key elements of modern finance architecture – driving innovation in areas like passive income earning options and decentralized liquidity pools.
These platforms’ ability to quickly respond to market shifts, regulatory updates and technological innovations exemplifies their essential role in both today’s industry environment as well as in its emerging future.
AscendEX FAQs
Assessing the safety of a cryptocurrency exchange like AscendEX involves considering various factors such as security measures in place, the exchange’s operational history, and user reviews. AscendEX employs security protocols to protect its users’ funds and data, but as with any online platform, there is always a degree of risk.
Users should do their research and consider the track record of the exchange and any reported incidents before making a decision.
Yes, users can withdraw funds from AscendEX. To do so, one must navigate to the withdrawal section of the exchange, select the desired cryptocurrency, enter the amount, and provide the correct withdrawal address.
It is important to follow the exchange’s guidelines and possibly complete any required KYC procedures to ensure a smooth withdrawal process.
AscendEX, like many other exchanges, has Know Your Customer (KYC) procedures in place. KYC is a verification process that requires users to provide proof of identity and, in some cases, proof of address.
While limited functionality might be available without KYC, performing KYC can provide access to full exchange features and higher transaction limits.
AscendEX’s transaction fees vary depending on the type of trade executed and the user’s trading volume. The exchange typically charges a maker-taker fee structure, where fees are different for those who add liquidity to the market (makers) and those who take liquidity away (takers).
Fees can be reduced based on the user’s 30-day trading volume or holding a certain amount of the exchange’s native token.
To deposit money into AscendEX, log in to the exchange, navigate to the “Deposit” section, select the type of currency or cryptocurrency you want to deposit, and follow the instructions provided. Deposits can usually be made via bank transfer, credit card, or by transferring cryptocurrency from a wallet or another exchange.
To use USDT (Tether) in AscendEX, you first need to deposit USDT into your AscendEX wallet. Once deposited, you can trade USDT for various other cryptocurrencies available on the platform.
Ensure that you are using the correct network for USDT deposits and withdrawals to avoid any loss of funds.
The ranking of AscendEX exchange can vary depending on the criteria used, such as trading volume, user reviews, or security. AscendEX is known to be among the popular cryptocurrency exchanges globally, but for the most current and specific ranking, one should refer to updated rankings from trusted sources in the cryptocurrency industry.
If this question is referring to a specific event, it would be necessary to have current and accurate information to provide an answer. There have been instances in the past where exchanges, including AscendEX, have faced security breaches or operational issues.
For the latest information on AscendEX, it is advisable to check the latest news releases or the exchange’s official communications.
AscendEX User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
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Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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