AscendEX (BitMax)
⭐ Trust Score: 7/10
🏆 Arbi.TEAM 7/10
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ AscendEX (formerly BitMax) is an international cryptocurrency platform founded in 2018 in Singapore by professionals with Wall Street experience. It provides services for traders of all levels, combining various financial instruments and features for passive income.
🪙 Trading Products and Instruments
AscendEX offers diverse trading formats, making it attractive to different user categories.
Spot Trading
Over 450 cryptocurrencies on multiple trading pairs
Futures Trading
Leverage up to 100x on perpetual contracts
Passive Income
Multiple earning opportunities without active trading
Staking (AscendEX Earn): Interest accrual for holding cryptocurrency
Copy Trading: Ability to automatically copy successful traders' deals
Referral Program: Income up to 40% from commissions paid by invited users
Margin Trading: Leverage up to 25x on spot market
🔐 Security and Support
Account security is a priority for the exchange.
Security Measures
- Two-factor authentication (2FA) from Google
- Anti-phishing codes: In email notifications
- Activity monitoring: Login and withdrawal notifications
- Remote freeze: Ability to remotely freeze account in case of suspicious activity
Regulation
Singapore-based exchange with international operations
Support
24/7 multilingual support including Russian language
💳 Deposits and Withdrawals
The platform offers various deposit and withdrawal options with specific limitations.
Verification (KYC)
Not required for basic operations but increases limits. Without verification: 0.75 BTC daily withdrawal limit. Level 1 verification enables card operations, Level 2 increases limit to 100 BTC daily.
Account Funding
Direct fiat money (rubles, dollars, etc.) not supported. Balance funding requires cryptocurrency or over-the-counter exchange.
Withdrawals
High withdrawal fees including 2 USDT for USDT withdrawals (BSC, Arbitrum, etc.)
👍 Advantages and Disadvantages
Based on analysis of user reviews and official information, we can identify the platform's strengths and weaknesses.
Advantages
- ✅ Wide selection of cryptocurrencies and trading pairs
- ✅ Intuitive interface suitable for beginners
- ✅ Mobile application for iOS and Android
- ✅ Multiple passive income methods
- ✅ Diverse trading formats
Disadvantages
- ❌ No direct fiat funding
- ❌ No demo account for practice
- ❌ Low liquidity for some exotic trading pairs
- ❌ Imperfect Russian language translation
💡 Tips for Beginners
Start with Security
Immediately after registration, activate two-factor authentication in account security settings.
Study Fees
Note that commission for altcoin trades (0.2%) is twice as high as for Bitcoin trades (0.1%).
Consider Limits
If planning large operations, complete verification to increase daily withdrawal limits.
🌐 Interface & Accessibility
Interface: Multilingual including Russian
Location: Singapore
🌏 Countries with Restricted Access
AscendEX prohibits access for residents of the following countries and territories:
Countries under complete ban:
- Singapore
- China (mainland)
- USA and its territories (Puerto Rico, US Virgin Islands, Guam, Northern Mariana Islands, American Samoa)
Countries designated in Sanctions Program:
- Algeria, Bangladesh, Bolivia, Belarus, Burundi
- Burma (Myanmar), Côte d'Ivoire, Crimea and Sevastopol
- Cuba, Democratic Republic of Congo, Ecuador, Iran
- Iraq, Lebanon, Libya, Liberia, Mali, Morocco
- North Korea (DPRK), Nepal, Somalia, Sudan, Syria
- Venezuela, Yemen, Zimbabwe
💱 AscendEX Reliability Analysis for Arbitrage Operations
Mixed reliability for cryptocurrency arbitrage. Based on our trading experience, we can present the following facts:
Important Considerations for Arbitrage
Frequent cryptocurrency withdrawal delays (from dozens of minutes to several hours) make it difficult to predict arbitrage success if AscendEX is the starting point. Slow coin crediting in Ethereum network (64 confirmations or approximately 13-16 minutes) causes stress for traders. High withdrawal fees, including 2 USDT for USDT withdrawals, can significantly reduce arbitrage efficiency.
Summary
We often use AscendEX services for arbitrage, but it's always worth remembering the pitfalls associated with withdrawing funds and high USDT withdrawal fees that can significantly reduce arbitrage efficiency.