Ascendex.com Crypto Exchange Review: It Is Good Or Bad ?

Ascendex Crypto Exchange Review: It Is Good Or Bad ?

About Ascendex

Ascendex is – like so many other exchanges – from Singapore. The platform launched on 22 March 2021, after a name change from BitMax. AscendEX today supports trading in a quite decent number of cryptocurrencies. You can find all of the biggest ones here, and the platform has 190+ trading pairs and 40 different margin trading pairs.

Bitmax is a Chinese cryptocurrency exchange platform founded in 2018. The company’s goals are to build an autonomous platform suitable for investors of any level. AscendEX exchange had a volume of $ 275.18M over the last 24 hours. You can trade 299 crypto pairs. You can trade cryptocurrencies with popular crypto such as BTC, USDT, ETH.

Ascendex Exchange Basic Points

Exchange NameAscendex
Accepted Payment MethodsBTC, ETH, LTC, BCH
LanguageEnglish
Fiat DepositYes
Deposit FeesFree. Small deposit fees apply.
Easy To Use Yes
Security High
Starting Fee0.10%
Taker fee0.0200%
Maker Fee 0.0600%
Customer Support Available At Ticket & Live Chat
Official SiteHomepage

How To Start ?

How To Sign Up At Ascendex Exchange ?

bitfinex sign up button

It Is Very Easy To Sign Up At Ascendex Exchange . Just Click On Sign Up Button At Ascendex Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.

How To Deposit Fund At Ascendex Exchange ?

Once your Ascendex account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit with (BTC/USDT/ETH/DOGE) and then you will be provided with the Wallet details that you need to transfer the funds to .

How To Trade At Ascendex Exchange ?

Once your account is funded, you can then begin day trading at Ascendex. Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade.

How To Withdraw At Ascendex Exchange ?

Withdrawing your funds from Ascendex is very easy. Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses.

How To Verify Id At Ascendex?

You Can Start Trading On Ascendex Without Going Through The Verification Process, However, In Order To Trade Fiat Currencies For Bitcoin Or To Trade With Stablecoins, Id Verification Is Needed. Depending On The Account Type (Individual Or Corporate), The Exchange Can Require Additional Documents.

Spot Trading Fee

• Cash trading and margin trading are subject to the same VIP level structure and transaction fee schedule.

• For futures trading, there will be a seperate set of VIP level structure and transaction fee schedule.

• Transaction fee for UAT/USDT is 0.2%.

• Transaction fee for BTMXP/USDT is 0.5%.Sign in to check VIP Level

VIP Level Calculation Methodology

Ascendex implements a new tiered VIP transaction fee & rebate structure for both traders and BTMX holders within the AscendEX ecosystem. VIP tiers have discounts set against base trading fees and are based off

(i) trailing 30-day trade volume across both asset classes (in USDT) OR

(ii) trailing 30-day average unlock BTMX holdings .

• User’s trailing 30-day trade volume (in USDT) will be calculated every day at UTC 0:00 based on the daily average price of each trading pair in USDT.

• User’s trailing 30-day average unlock BTMX holdings (excluding BTMX Investment under BitTreasure) will be calculated every day at UTC 0:00 based on the user’s average holding period.

VIP LevelTrailing 30d Trade Volume (USDT)CategoryTrailing 30d Avg BTMX HoldingsMaker / Taker Fee (Large Market Cap Assets)Maker / Taker Fee (Altcoins)
VIP0≥ 0OR≥ 00.1000% / 0.1000%0.2000% / 0.2000%
VIP1≥ 100,000OR≥ 5,0000.0900% / 0.1000%0.1800% / 0.2000%
VIP2≥ 1,000,000OR≥ 20,0000.0750% / 0.0850%0.1600% / 0.1800%
VIP3≥ 5,000,000OR≥ 100,0000.0600% / 0.0700%0.1300% / 0.1500%
VIP4≥ 10,000,000OR≥ 250,0000.0500% / 0.0600%0.1000% / 0.1200%
VIP5≥ 25,000,000OR≥ 500,0000.0400% / 0.0500%0.0750% / 0.1000%
VIP6≥ 50,000,000OR≥ 1,000,0000.0300% / 0.0400%0.0500% / 0.0700%
VIP7≥ 100,000,000OR≥ 1,500,0000.0200% / 0.0300%0.0200% / 0.0400%
VIP8≥ 150,000,000AND≥ 2,500,0000.0000% / 0.0250%0.0000% / 0.0250%
VIP9≥ 500,000,000AND≥ 5,000,000-0.0150% / 0.0200%-0.0150% / 0.0200%

Futures Trading Fee

VIP Level Calculation Methodology

AscendEX implements a new tiered VIP transaction fee & rebate structure for both traders and BTMX holders within the ecosystem. VIP tiers have discounts set against base trading fees and are based off (i) trailing 30-day trade volume across both asset classes (in USDT) OR (ii) trailing 30-day average unlock BTMX holdings .

• User’s trailing 30-day trade volume (in USDT) will be calculated every day at UTC 0:00 based on the daily average price of each trading pair in USDT.

• User’s trailing 30-day average unlock BTMX holdings (excluding BTMX Investment under BitTreasure) will be calculated every day at UTC 0:00 based on the user’s average holding period.Sign in to check VIP Level

VIP LevelTrailing 30d Trade Volume (USDT)CategoryTrailing 30d Avg BTMX HoldingsMaker / Taker Fee (Large Market Cap Assets)
VIP0≥ 0OR≥ 00.0200% / 0.0600%
VIP1≥ 5,000,000OR≥ 5,0000.0150% / 0.0600%
VIP2≥ 50,000,000OR≥ 20,0000.0100% / 0.0500%
VIP3≥ 100,000,000OR≥ 100,0000.0075% / 0.0450%
VIP4≥ 150,000,000OR≥ 250,0000.0050% / 0.0400%
VIP5≥ 300,000,000OR≥ 500,0000.0025% / 0.0350%
VIP6≥ 500,000,000OR≥ 1,000,0000.0000% / 0.0320%
VIP7≥ 1,000,000,000OR≥ 1,500,0000.0000% / 0.0300%
VIP8≥ 2,000,000,000AND≥ 2,500,000-0.0050% / 0.0300%
VIP9≥ 5,000,000,000AND≥ 5,000,000-0.0150% / 0.0300%

Deposit Methods

AscendEX has partnered with Simplex, an EU-licensed payment processing company to provide credit/debit card payment solution on its platform. Through Simplex, users can now easily buy digital assets with just a credit or debit card (both VISA and Mastercard accepted). Deposits through Simplex are normally quite fast (10-30 minutes), but there are fees involved with this service. To knowledge, you need to pay 3.50% on the deposited amount to use the Simplex service. Minimum purchase amount is USD 50.

AscendEX Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. For BTC-withdrawals, this exchange charges 0.0005 BTC. This is also slightly below the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC. All in all, with respect to the fees, AscendEX has a truly competitive offering

Mobile Support

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that AscendEX’s trading platform is also available as an app for iPhone and Android users.

AscendEX

AscendEX(BitMax) is a high-performance digital asset trading platform servicing retail and institutional clients across the globe with a broad range of financial products and services. AscendEX(BitMax) was launched with the core vision to support industry innovation and advancement of the digital asset trading ecosystem. It has established itself as a top institutional-grade trading platform that includes OTC (fiat-crypto exchange), crypto-crypto exchange, derivatives trading, futures trading and margin trading. Trade over 100 cryptocurrencies including BTC, ETH, LTC, Altcoins, Stablecoins and Platform Tokens.

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