ascendex
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ AscendEX Exchange — a global cryptocurrency platform founded in 2018 and registered in Singapore. Formerly known as BitMax. The platform serves over 1 million users from 200+ countries and offers a comprehensive suite of services for retail and institutional traders, including spot trading, futures, margin trading, staking, and yield farming.
🪙 Trading Products and Tools
AscendEX provides a full spectrum of trading instruments for traders of all levels. The platform supports over 400 cryptocurrencies and tokens, including major assets (Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether) and promising DeFi projects. The platform continuously expands its pool of available crypto assets and is known for early listings of innovative blockchain projects.
Spot Trading
Over 400 cryptocurrencies available for trading. The platform offers both a basic (simple) terminal for beginners and a professional (full-featured) terminal with advanced tools. The web terminal is integrated with TradingView.
Futures Trading
Futures contracts are supported with maximum leverage up to 1:100. The platform offers high capabilities for margin and futures trading with deep liquidity.
Passive Income
Four passive earning programs are available for investors. Staking is supported for over 150 blockchain projects. Yield farming program with variable APY depending on market conditions and asset type.
Staking: Support for over 150 blockchain projects with instant unbonding option for some products. Some earning types may have lock-up periods.
Copy Trading: Copy trading functionality is not available on the platform.
Referral Program: Standard one-level referral program with payments from partner trading fees.
Margin Trading: Margin trading is supported with leverage up to 1:100 and attractive conditions for active traders.
Platform Token: ASD — the platform's native token that provides users with substantial rewards and participation in exclusive offers.
Early Token Access: Users receive exclusive access to token airdrops and the opportunity to purchase tokens at the earliest stages of project development.
🔐 Security and Support
AscendEX implements a multi-layered security system to protect user assets. The platform uses cold storage, two-factor authentication, anti-phishing features, and account freezing upon suspicion of unauthorized access. However, it should be noted that AscendEX operates with less regulatory oversight compared to major exchanges such as Coinbase or Gemini, which maintain comprehensive licenses in major jurisdictions.
Security Measures
- Two-factor authentication (2FA)
- Cold storage of crypto assets
- Multi-layered protection
- Anti-phishing features
- Account freezing
- Insurance coverage
Regulation
The platform is registered in Singapore. It operates with less comprehensive regulatory oversight compared to major exchanges. There are geographic availability restrictions in some countries due to regulatory requirements.
Support
Customer support is available through a ticketing system. There is no phone support or call center. No demo accounts available for platform testing.
💳 Deposits and Withdrawals
AscendEX supports a wide range of deposit and withdrawal methods with low or no fees. The minimum deposit is just $1. The platform received an 8/10 rating for deposit and withdrawal services. However, it should be noted that the platform does not support fiat currency trading (USD, EUR, etc.), which limits direct fiat deposit options.
KYC
The platform has 10 verification levels. KYC requirements depend on the verification level and desired withdrawal limits.
Deposits
Supported methods: Wire Transfer, VISA, MasterCard, cryptocurrency, BANXA, Google Pay, Apple Pay, MERCURYO, MOONPAY, SIMPLEX. Minimum deposit: $1.
Withdrawals
Withdrawal methods: Wire Transfer, VISA, MasterCard, cryptocurrency, BANXA, Google Pay, Apple Pay, MERCURYO, MOONPAY, SIMPLEX. Cryptocurrency withdrawal fee: from 0.0005 BTC and higher depending on the asset. Withdrawal speed depends on the chosen method.
💰 Fees
Trading fees on AscendEX are competitive and significantly below the industry average. Trading commissions: from 0.1000% to -0.0150% (some conditions may provide negative commissions, i.e., rewards for trading). The platform offers a rewards system for active traders and ASD token holders.
👍 Advantages and Disadvantages
Advantages
- ✅ Support for over 400 cryptocurrencies with continuous pool expansion
- ✅ Early access to innovative DeFi projects and tokens
- ✅ Competitive trading fees, significantly below industry average
- ✅ Full range of trading instruments: spot, margin, futures, staking, yield farming
- ✅ User interface suitable for both beginners and professionals
- ✅ Mobile app for trading on the go
- ✅ Minimum deposit of just $1
- ✅ Attractive passive income opportunities through staking and yield farming
- ✅ Referral program with payments from trading commissions
- ✅ Services for institutional clients: API, custody solutions, OTC desks
- ✅ High leverage options for margin trading (up to 1:100)
- ✅ Native platform token (ASD) with attractive rewards
Disadvantages
- ❌ No fiat currency trading (USD, EUR, etc.)
- ❌ No copy trading functionality
- ❌ No phone support, support only through ticketing system
- ❌ No demo accounts for platform testing
- ❌ Smaller trading volume and user base compared to Binance and Coinbase
- ❌ Lower liquidity for some trading pairs may result in wider bid-ask spreads
- ❌ Limited geographic availability due to regulatory requirements
- ❌ Less regulatory oversight compared to major exchanges
- ❌ Possible technical issues or platform downtime
- ❌ No guaranteed insurance coverage for user assets
💡 Tips for Beginners
Security
Enable two-factor authentication (2FA) immediately after creating your account. Use strong passwords and never share your credentials with third parties. Be cautious of phishing links and always verify the URL of the official website.
Fees
Study the fee structure on the platform. Remember that trading fees may vary depending on your verification level and trading volume. Active traders may receive lower fees.
Limits
Check withdrawal limits for your verification level. Different KYC levels have different limits for withdrawals and trading.
Diversification
Don't invest all your funds in a single cryptocurrency. Use staking and yield farming opportunities to diversify your income.
Research
Before trading new or lesser-known tokens, conduct thorough research. AscendEX is known for early listings of innovative projects, which can be both an opportunity and a risk.
🌐 Interface and Accessibility
Interface: The platform supports a multilingual interface. Web version with TradingView terminal and mobile apps for iOS and Android with convenient interface for on-the-go trading are available.
Location: The platform is registered in Singapore and serves users from 200+ countries, including Europe, Asia, Middle East, and America.
💱 Arbitrage Analysis
Arbitrage Advantages: AscendEX offers early access to innovative DeFi projects and tokens, which can create arbitrage opportunities between this exchange and other platforms. Competitive trading fees (from 0.1000% to -0.0150%) make the platform attractive for arbitrage strategies. Support for over 400 cryptocurrencies provides a wide selection for finding arbitrage opportunities. Maximum leverage of 1:100 allows increasing potential arbitrage returns.
Features and Risks
Lower liquidity compared to major exchanges may result in wider bid-ask spreads and increased slippage for large orders. This can reduce arbitrage profitability. Limited geographic availability may hinder platform access for some arbitrageurs. Lower trading volume may mean that large arbitrage volumes can influence prices and reduce strategy effectiveness. Lack of fiat trading limits fiat arbitrage opportunities. Risk of technical failures could lead to losses when executing arbitrage strategies.
Summary
AscendEX can be a useful platform for arbitrageurs seeking access to innovative DeFi projects and early token listings. Competitive fees and support for leverage up to 1:100 make the platform attractive. However, lower liquidity and limited availability may restrict the effectiveness of large-scale arbitrage operations. It is recommended to use AscendEX as a supplementary tool in a portfolio of arbitrage platforms rather than as the primary platform for large operations.