Introduction
AscendEX (formerly BitMax) is a global digital asset financial platform established in 2018 by Wall Street quantitative trading experts. With a mission rooted in "Efficiency, Resilience, and Transparency," AscendEX serves retail and institutional clients across 200+ regions. The platform rebranded in 2021 to bridge centralized trading with DeFi innovations, offering 200+ trading pairs spanning spot, margin, and futures markets. Despite a security breach in December 2021 ($77.7 million stolen), AscendEX remains a competitive player in the crypto exchange landscape.
AscendEX Profile Summary
| Detail | Description |
|---|---|
| Company Name | AscendEX |
| Categories | Cryptocurrency Exchange |
| Website | https://ascendex.com |
| Founded | 2018 |
| Headquarters | Singapore |
| Deposit Fee | Free |
| Withdrawal Fee | 0.0005 BTC |
| Mobile Support | Yes (iOS & Android) |
| Spot Taker Fee | 0.20% |
| Maker Fee | 0.20% |
Key Features of AscendEX
1. Diverse Trading Options
- Spot Trading: 150+ cryptocurrencies.
- Margin Trading: 50+ tokens with cross-asset collateral.
- Futures Trading: Perpetual USDT contracts with leverage.
- Staking & DeFi: Earn rewards through staking and DeFi integrations.
2. User Experience
- Intuitive interface for beginners and advanced traders.
- Mobile app (iOS/Android) with full trading functionality.
3. Security Measures
- Two-Factor Authentication (2FA).
- Regular security audits (post-2021 breach improvements).
4. Competitive Fee Structure
- Trading Fees: 0.10%–0.20% (VIP discounts available).
- Withdrawal Fees: Below industry average (e.g., 0.0005 BTC for Bitcoin).
How to Get Started on AscendEX
Account Registration
- Visit AscendEX’s website.
- Click "Sign Up" and enter your email/phone + password.
- Verify via email/SMS code.
- Enable 2FA for added security.
👉 Start trading on AscendEX today
Deposits & Withdrawals
- Deposit: Navigate to "Balance" > "Deposit," select cryptocurrency, and send funds to the provided address.
- Withdraw: Go to "Balance" > "Withdraw," enter the external wallet address, and confirm.
Trading Fees and Limits
| VIP Tier | Maker Fee | Taker Fee |
|---|---|---|
| VIP 0 | 0.20% | 0.20% |
| VIP 1+ | Reduced rates (varies) | Reduced rates (varies) |
- Credit Card Purchases: 3.5% fee via Simplex (min. $50).
Pros and Cons of AscendEX
Pros:
- Wide asset selection (200+ cryptocurrencies).
- Low trading and withdrawal fees.
- Advanced tools (margin, futures, staking).
- Strong mobile app.
Cons:
- Past security breach (2021).
- Restricted in the US, China, and Singapore.
Founder and Leadership
- Dr. Jing Cao: Founder, ex-CIO of Delpha Capital Management.
- Leadership Team: Includes George Cao (CEO) and Ariel Ling (COO), with backgrounds in finance and asset management.
Is AscendEX Legitimate?
Yes. Despite the 2021 breach, AscendEX has maintained transparency, regulatory compliance, and positive user feedback. Its security upgrades and competitive offerings bolster its credibility.
Customer Support
- 24/7 Assistance: Multilingual support via email (
[email protected]) and Telegram. - Community: Active trader communities in 8+ languages.
Alternatives to AscendEX
- Binance: Higher liquidity, more trading pairs.
- Coinbase: User-friendly, fiat-friendly.
- UPHOLD: Multi-currency support.
👉 Compare exchanges for the best rates
FAQs
Q: Can US residents use AscendEX?
A: No. AscendEX restricts users from the US, China, Singapore, and other prohibited regions.
Q: What are AscendEX’s trading fees?
A: Base fee is 0.20% for takers/makers, with discounts for VIP users.
Q: Is staking available on AscendEX?
A: Yes. Users can stake supported tokens for rewards.
Conclusion
AscendEX stands out for its diverse trading options, low fees, and DeFi integrations. While its 2021 breach raises caution, ongoing security enhancements and robust customer support make it a viable choice for global traders. Whether you're a beginner or a pro, AscendEX offers tools to optimize your crypto strategy.