AscendEX [formerly BitMax] is a Singaporean exchange with more than 400 coins available to trade. AscendEX Exchange has over 1 million users and big venture capitals such as POLYCHAIN CAPITAL have invested in it. AscendEx offers its services such as futures, copy trading and staking to 150+ countries/regions.
AscendEX Company Information & Regulation
AscendEX crypto exchange, formerly known as BitMax [rebranded in 2019], is a digital asset trading platform that has quickly risen to prominence in the cryptocurrency world. Founded in 2018 and headquartered in Singapore, AscendEX has established itself as a global player in the crypto exchange market.
AscendEX is the former BitMax that rebranded in 2019
The platform is operated by AscendEX Technology S.R.L., which adds an interesting international dimension to its operations. Beyond the introduction, what gives an exchange credibility is its license. Unfortunately, AscendEX has not yet received a permit. Critical information of AscendEX Exchange:
- Services such as spot trading, leveraged trading (margin and futures), staking, and copy trading
- Subject to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations
- Not available in certain jurisdictions, including Singapore, China, the United States, and sanctioned countries
- Mandatory identity verification
Summary of Specifications
To give you a quick overview of what AscendEX offers, here's a table summarizing its key specifications:
Exchange | AscendEX |
Launch Date | 2018 |
Levels | 10 |
Trading Fees | From 0.1000 to -0.0150% |
Supported Coins | 400+ |
Futures Trading | Yes |
Minimum Deposit | $1 |
Deposit Methods | Wire Transfer, VISA, MasterCard, Cryptocurrency, BANXA, Google Pay, Apple Pay, MERCURYO, MOONPAY, SIMPLEX |
Withdrawal Methods | Wire Transfer, VISA, MasterCard, Cryptocurrency, BANXA, Google Pay, Apple Pay, MERCURYO, MOONPAY, SIMPLEX |
Maximum Leverage | 1:100 |
Minimum Trade amount | Variable based on coin |
Security Factors | Cold Storage, Multi-layered defense, 2FA, Insurance, Account freezing and anti-phishing features |
Services | Cash Trading, Copy Trading, Leveraged Token Trading, Staking, DEX, OTC Escrow |
Customer Support Ways | Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | No |
Orders Execution | Limit Order, Market Order |
Native Token | ASD |
Restricted Countries | China, United States, Nepal, Zimbawe, Iran, North Korea |
Advantages and Disadvantages
Like any trading platform, AscendEX has its strengths and weaknesses. AscendEX pros and cons:
Cons | Pros |
Limited Geographic Availability Due to Regulatory Restrictions | Wide Range of Cryptocurrencies Available for Trading |
Lack Of Fiat Currency Trading Pairs | Competitive Trading Fees |
Potential Regulatory Compliance Concerns | User-Friendly Interface and Mobile App |
Possibility Of Technical Issues or Downtime | High Liquidity and Trading Volume |
- | Enhanced Security Features (E.G., Multi-Factor Authentication, Cold Storage) |
- | Advanced Trading Tools (Margin Trading, Futures Contracts, Etc.) |
AscendEX Exchange User Levels
AscendEX users are ranked across ten VIP levels (VIP0 to VIP9), based on their 30-day trading volume or ASD token holdings. Each higher tier provides reduced trading fees and other benefits such as lower borrowing costs, access to staking enhancements, and increased referral rewards.
There are 10 user levels in AscendEX
The VIP model incentivizes platform loyalty and high-volume activity. AscendEX user levels:
Level | 30D Trading Volume | Category | Average 30D ASD Holding |
VIP0 | ≥ 0 | Or | ≥ 0 |
VIP1 | ≥ 100,000 | Or | ≥ 5,000 |
VIP2 | ≥ 1,000,000 | Or | ≥ 20,000 |
VIP3 | ≥ 5,000,000 | Or | ≥ 100,000 |
VIP4 | ≥ 10,000,000 | Or | ≥ 250,000 |
VIP5 | ≥ 25,000,000 | Or | ≥ 500,000 |
VIP6 | ≥ 50,000,000 | Or | ≥ 1,000,000 |
VIP7 | ≥ 100,000,000 | Or | ≥ 1,500,000 |
VIP8 | ≥ 150,000,000 | And | ≥ 2,500,000 |
VIP9 | ≥ 500,000,000 | And | ≥ 5,000,000 |
What Are Fees and Commissions of Ascendex Exchange?
AscendEX follows a maker-taker fee model, with base fees starting at 0.1% for large-cap tokens and 0.2% for altcoins.
The platform operates a tiered VIP system (VIP0 to VIP9), offering significant discounts based on trading volume or ASD token holdings.
At higher tiers, traders can benefit from zero maker fees and even rebates.
For example, VIP8 users enjoy 0% maker fees, while VIP9 traders receive a 0.015% rebate on maker orders and pay just 0.02% taker fees across all asset classes.
Level | Maker / Taker Spot fee for Large Market Cap Assets | Maker / Taker Spot fee for Altcoins | Futures Maker / Taker Fee |
VIP0 | 0.1000% / 0.1000% | 0.2000% / 0.2000% | 0.0400% / 0.0600% |
VIP1 | 0.0900% / 0.1000% | 0.1800% / 0.2000% | 0.0380% / 0.0600% |
VIP2 | 0.0750% / 0.0850% | 0.1600% / 0.1800% | 0.0360% / 0.0600% |
VIP3 | 0.0600% / 0.0700% | 0.1300% / 0.1500% | 0.0340% / 0.0600% |
VIP4 | 0.0500% / 0.0600% | 0.1000% / 0.1200% | 0.0320% / 0.0600% |
VIP5 | 0.0400% / 0.0500% | 0.0750% / 0.1000% | 0.0300% / 0.0600% |
VIP6 | 0.0300% / 0.0400% | 0.0500% / 0.0700% | 0.0200% / 0.0600% |
VIP7 | 0.0200% / 0.0300% | 0.0200% / 0.0400% | 0.0100% / 0.0500% |
VIP8 | 0.0000% / 0.0250% | 0.0000% / 0.0250% | 0.0000% / 0.0400% |
VIP9 | -0.0150% / 0.0200% | -0.0150% / 0.0200% | Not Provided for Futures Trading |
How Many Coins Are Available to Trade in AscendEX?
AscendEX boasts an impressive array of supported cryptocurrencies, catering to diverse investor interests. AscendEX coins:
- Over 400 digital assets
- More than 450 trading pairs
- Major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB), Solana (SOL), Cardano (ADA)
- Numerous altcoins and emerging tokens
- Good diversity in meme coins [DOGE, SHIB, FLOKI, etc.]
You can trade more than 450 trading pairs in AscendEx
The wide selection of coins makes AscendEX an attractive option for traders looking to diversify their portfolios or explore new investment opportunities in the crypto space.
Futures and Margin Trading on AscendEX Exchange
For more advanced traders, AscendEX offers robust futures and margin trading options. Key features include:
- Up to 100x leverage for margin trading
- Cross-asset collateral support
- Intelligent risk engine to help manage positions
- No fees for borrowing assets
- Maker order rebates for providing liquidity
- Advanced charting tools and order types
- Daily "Satoshis" rewards for active users
Registration and Verification on AscendEX Exchange: Complete Guide!
Getting started in this exchange is much easier than you think. AscendEX Sign up:
#1 AscendEX website
Visit the AscendEX website or download the mobile app, click "Register", and choose between email or phone registration.
#2 Email / Phone registration
Provide your email or phone number and create a strong password for your account.
Enter the verification code sent by email or SMS.
#3 AscendEX KYC verification
Your account is ready, but you have to complete the verification process according to the following steps:
- Log in to the AscendEX client dashboard;
- Complete personal information;
- Upload photos of your ID documents;
- Complete the facial recognition scan;
- Wait for verification approval (usually within 24 hours).
Once verified, you'll have full access to AscendEX's features and higher withdrawal limits.
The platform offers both PC-based and mobile app verification flows, ensuring a smooth onboarding experience for all users.
Platforms and Applications
AscendEX has launched its mobile application so that mobile users can access this exchange's facilities without needing the web version.
Download AscendEX app:
These diverse options allow traders to access their accounts and execute trades from virtually anywhere, enhancing flexibility and convenience.
What Are Security and Safety Measures of AscendEX?
AscendEX incorporates standard security measures, including two-factor authentication (2FA) and cold wallet storage, to protect user assets.
Security measurements of AscendEX to guarantee user assets safety
However, the exchange lacks government regulation and facial recognition features. While the platform has faced hacking incidents in the past, it has taken steps to reimburse affected users and enhance protection protocols.
- Cold storage for user assets
- Multi-layered defense for on-platform transfers
- Two-factor authentication (2FA) for all accounts
- An insurance fund to cover potential losses from security incidents
- Account freezing and anti-phishing features
- Real-time transaction notifications
- Robust KYC/AML policies and suspicious activity monitoring
These enterprise-class security measures, developed with guidance from finance veterans and corporate experts, help ensure the safety of user investments and maintain the integrity of the platform.
Payment Methods
AscendEX has expanded its payment options to provide users with more flexibility:
- VISA and MasterCard
- Google Pay integration for Android users
- Apple Pay for iOS users
- payment solutions such as BANXA, MERCURYO, MOONPAY, SIMPLEX
- Wire transfer options for Fiat deposit
These diverse payment methods make it easier for users to buy cryptocurrencies using their preferred fiat currencies, enhancing accessibility to the crypto market.
The minimum purchase amount on AscendEX via Simplex (credit/debit card gateway) is $50. This applies to users buying cryptocurrencies directly using fiat payment methods such as VISA or Mastercard.
Trust Scores
While the exchange offers a wide range of features and services, the AscendEX Trustpilot profile has a bad trust score. AscendEX trust scores:
- Trustpilot: 1.9/5 from 139 reviews
- CoinGecko: 8/10
- CoinMarketCap: 5.6/10
AscendEX trust scores indicate an average performance
Users report "inactivity fees", which can lead to potential loss of funds, and Complaints about customer service quality, which can lead to poor trust scores.
AscendEX Features
Does the exchange offer crypto services other than spot and futures trading?
Staking | Yes |
Yield Farming | Yes |
Social Trading | Yes |
Liquidity Pool | Yes |
Crypto Cards | No |
Support
AscendEX support responds to users with a lot of delay, but this is not the only sign of their poor performance; only way to communicate with AscendEX Exchange support is Ticket and there is no other way to communicate, including chat, email or call!
AscendEX Growth Programs
AscendEX offers a crypto copy trading software, allowing users to follow and replicate the strategies of top-performing traders. AscendEX crypto copy trading:
- Users can view trader metrics, performance indicators, and risk profiles;
- Traders share their trading history and strategies;
- Followers can subscribe to trader strategies on a monthly basis;
- Subscription fees are based on a percentage of profitable copied trades;
- Traders must provide accurate information and comply with all applicable laws;
- AscendEX reserves the right to pause or terminate the Copy Trading Service for any trader.
This feature can be particularly useful for novice traders looking to learn from more experienced market participants.
AscendEX Earn
The exchange offers robust staking services through its “AscendEX Earn” ecosystem. Users can stake a variety of crypto assets with no lock-in period, allowing for flexible management and quick access to funds.
In addition, staked assets can be utilized as collateral for margin trading, maximizing capital efficiency without compromising portfolio liquidity.
AscendEX Restricted Countries
It's important to note that AscendEX's services are not available globally. Restricted countries include:
- China (Mainland)
- United States and its territories
- Countries where cryptocurrency trading is banned (e.g., Nepal, Zimbabwe, Iran, North Korea)
AscendEX is not available in some regions such as USA and China
These restrictions are in place to comply with local regulations and laws. Users from restricted countries may need to explore alternative exchanges for their cryptocurrency trading needs.
AscendEX vs Top Exchanges
The table below compares AscendEX's features with popular crypto exchanges:
Features | AscendEX Exchange | |||
Number of Assets | 400+ | 700+ | 2500+ | 700+ |
Maximum Leverage | 1:100 | 1:100 | 1:100 | 1:125 |
Minimum Deposit | $1 | $1 | N/A | N/A |
Spot Maker Fee | -0.015% - 0.1% | -0.005% - 0.1% | 0.055% - 0.2% | 0.1% |
Spot Taker Fee | 0.02% - 0.1% | 0.025% - 0.1% | 0.065% - 0.2% | 0.1% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | Yes | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | Yes |
Staking | Yes | Yes | Yes | Yes |
Copy Trading | Yes | Yes | Yes | Yes |
Trading Finder Writer's Opinion and Conclusion
With trading fees range from 0.1000 to -0.0150%, AscendEx offers spot, margin and futures trading [100x maximum leverage]. Its daily trading volume is over $200M and has 9M global investors.
AscendEx exchange also offers cash trading and leveraged token trading but it has no licenses from any regulators.