What is AscendEX?
The AscendEX cryptocurrency exchange is a platform used for spot, margin, and futures trading of cryptocurrencies as well as tokens. Basic (simple) and professional (full featured) terminals are available, allowing for east switching based on the user’s preferences. Those that are familiar with cryptos can opt for the full array of tools, while those new to the market might prefer a more streamlined interface.
All major cryptos are supported, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether and many more. There are several investment solutions such as staking, De-Fi farming, direct deposits to the platform, and deposits in ASD (the exchange's coin). The fees vary by asset, which includes up to 0.1% for Bitcoin and up to 0.2% for altcoins.
What makes AscendEX stand apart is the focus on lesser known cryptos. Hundreds of new currencies are added on a regular basis, most of which are net yet listed on other exchanges. This means that smart traders can get in early, invest before the rush, and potentially make big profits.
How We Reviewed AscendEX:
Our expert team follows a strict set of parameters and standards when approaching every review, extending a great deal of time and effort. They ensure that every site not only vigorously tested, but that all results carefully recorded. Special focus is but on usability, the cryptos supported, customer support, and of course smartphone compatibility. No matter what they find, positive or negative, we post the results right here. We also update our reviews if new information surfaces, or if an exchange updates.
How Does AscendEX Work?
AscendEX works much like other exchanges, allowing users to buy, trade, and invest in cryptocurrencies. All that is required is an active account.
However, AscendEX is based on the principal that investing early is the key to long term success. While the most popular cryptos are supported, the focus here is on cryptos that no one has heard of. Or at least that no one has heard of yet. Traders are given the chance to get in early, invest before the rush, and potentially reap the benefits. Hundreds of new cryptos are added to AscendEX on a regular basis, some of which may be the Bitcoin of the future.
What We Rated AscendEX:
Sign-Up Process: 5/5
The sign up process is quick, easy and extremely streamlined. In just a few minutes a trader can activate an account and get into the action. Note that the KYC process will have to be completed before an account will become active.
Deposits and Withdrawals: 4.7/5
It couldn’t be easier or quicker to make a withdrawal, with processing times dependant on the currency being withdrawn.
Available Assets and Ways to Trade: 4.8/5
AscendEX shines in the trading diversity department, with so many options that it can almost be overwhelming. But anyone trading here is probably after the trading diversity, making the vast number of offered cryptos a major pro.
Customer Service: 4.4/5
The 24 hour customer support is reliable and friendly, with solutions to common problems readily available. An FAQ page is also available, providing quick answers to common questions.
Security and Regulation: 4.8/5
AscendEX is fully regulated and abides by the law. All traders signing up will be required to complete the Know Your Customer (KYC) security process.
Is AscendEX Legit or a Scam?
AscendEX is a legitimate online exchange that takes the law seriously. The site operates with both centralised and decentralised currencies, but puts heavy emphasis on being reliable and transparent. The completion of the Know Your Customer (KYC) process is compulsory for all traders, ensuring that illegal activity is kept out. Additionally, SSL systems are used, meaning that every transaction is safe behind a wall of high-tech encryption technology.
AscendEX Key Features and Differentiators
AscendEX is all about giving traders the early advantage, but is also extremely focused on providing as smooth an experience as possible to newcomers. Here we have highlighted some of the excellent features that make AscendEX truly shine amongst competitor exchanges.
Amongst the many impressive interface features AscendEX gives the option to switch between Expert and Basic trading tools. These separate interfaces are designed with a specific purpose, allowing a trader to switch as they prefer. The idea is simple; the user can get either an advanced or simplified experience. Hence, both veteran and newcomer traders are carefully careered for.
VIP Trading Structure
AscendEX has a VIP structure of 9 levels, meaning that those who trade the most are given the biggest discounts. Simply put; the higher a VIP level the trader achieves, the less they pay in trading fees. It is a system that rewards the most active, motivated traders.
Passive Income Generation
AscendEX emphasises passive income generation. Crypto that is held in the site account will earn interest, up to 50% on average a year. This means that crypto is earned simply for having an account, and for having crypto in the account.
Zero Licensing Cost
AscendEX does not charge any licensing fees, with the only costs being standard fees on trading. Trading fees vary depending on the VIP tier that a user has achieved.
AscendEX emphasises the possibility of making big profits. Although it is up to the trader how they approach trading, the right investment on the right new crypto could give big payouts.
Trade Cryptocurrencies First
When cryptos are carried over to the more well-known exchanges they tend to get swamped. AscendEX is an opportunity to get in and trade big before the rush. Many of the cryptos offered are not yet mainstream, providing a big investment advantage. There is no guarantee that the lesser known cryptos will blow up, but if they do early investors will be smiling.
AscendEX utilises a cutting edge Secure Socket Layer (SSL) system. SSL provides additional protection against cybercriminals, wrapping every transaction in an advanced encryption layer.
Withdrawals are easy, fast and reliable, taking the hassle out of banking. Depending on the crypto being withdrawn most transactions will reflect in a wallet almost immediately, or otherwise in less than 24 hours.
Customer Support Department
AscendEX takes customer support seriously. A professional team is standing by 24 hours a day, ready to help with any problems. A FAQ page is also available, providing quick answers to the most commonly asked questions.
Demo Trading Account
Demo trading accounts allow for trading to be practiced, without the risk of having to use real crypto. This is perfect for newcomers that aren’t yet ready for real trade.
How to Register with AscendEX
Registering couldn’t be quicker or easier at AscendEX. Registration will require completing KYC, so this should be taken into account. But all in all registration should take no more than 20 minutes.
1. Registration Form
Filling in the registration form correctly is important, given that incorrect details will slow the process. Basic details are needed, including a name, email address, and residential address.
2. Make Your First Deposit
After account activation a deposit can be made. Since fiat currencies are not supported the deposit will have to be made in crypto, with a minimum of 1 crypto unit accepted.
3. Demo or Live Trade
After the deposit has reflected it will now be possible to start trading. Keep in mind the demo trading will also be available, though experienced users can go directly to live trading.
Tips for Making the Most of AscendEX
AscendEX focuses on putting all necessary tools for trade at the hands of the user, but it still pays to approach investment smartly. Here are a few tips to help get the most out of the exchange.
Utilise Your Account Broker
At the time of writing AscendEX does not offer account broker assistance, but may adopt the feature in the future.
Invest the Minimum at First
Everyone wants to jump in and start making big investments immediately, but a slower approach is better. Coming to terms with the site and how it works is essential, making it smarter to invest the minimum at first. Once some experience is gained bigger investments can be explored.
Keep Track of Your Cryptos
Everyone wants to earn trading crypto, but the market can be very volatile. It is important to be aware of what is happening in the crypto market, which currencies are gaining, which are losing, and which are going next level. Being informed is a big part of trading successfully, meaning that keeping a sharp eye on the market is very important. The best traders are those that keep track of their investments.
Spend 20 Minutes on Your Account Daily
There is no getting better at something without regular practice, and crypto trading is the same. A good trader will spend at least 20 minutes on their account daily, minimum. Even if the 20 minutes are just spent going over what was done over the last week.
Investment should not be taken lightly, no matter how small the amount is. Since there is significant risk attached to each investment all due research should be done in advance.
Keep Track of Your Transactions
A detailed log should be kept of each transaction, investment, withdrawal, and deposit. In fact, nothing should be done at an exchange without a record. Being organised is key to succeeding.
The Brief History of Crypto and AscendEX
AscendEX (BitMax) is a Singapore-based cryptocurrency exchange that was launched in 2018 under the name of BitMax. The rebranding was done in March 2021. According to the company announcement, the new name reflects the team's belief in the bright future of cryptocurrencies. The name and the new logo were aimed at representing the ascending trend on the market.
Today AscendEX is a popular exchange, with new traders signing up on a regular basis. There is no telling how big the exchange will get, or how popular it will be in the future.
Alternatives to AscendEX:
We review a vast number of crypto exchanges, giving as broad perspective. AscendEX comes out on top in most comparisons, though there are a few other exchanges that are similar. NFT Profit, Bitcoin Circuit and Quantum Code are comparable in a number of key areas.
Frequently Asked Questions About AscendEX
What is AscendEX and How Does it Work?
AscendEX is an online trading platform that allows users to invest in cryptocurrencies. By simply registering and making a deposit anyone can jump in today and start trading immediately. What makes AscendEX stand apart is that the site grants early access to cryptos that do not even appear on more well-known platforms.
How Much Profit Can I Make with AscendEX?
It is possible to make a great deal of money trading crypto. However, there is no guarantee that profits will be made, given how volatile the market is. All trades and investments should be done smartly, with the help of financial advisors recommended.
Is AscendEX Free to Use?
Registering for an account is free, but fees may apply when making trades.
AscendEX App - is One Available?
Yes, AscendEX has an app for Android and Apple devices.
Where is AscendEX Available?
AscendEX is available across the globe, including Australia, Canada, Spain, Finland, France, South Africa, Greece, Hungary, Ireland, India, Italy and many more.
AscendEX is an outstanding exchange with an impressive array of features. Veteran traders will find everything they need to invest in all the biggest currencies, including advanced tools and other impressive features. Meanwhile, focus is also put on exploring up and coming cryptos, with plenty of opportunity provided to hit big on a hot new discovery. For review on another cryptocurrency making a name for itself, see our Latoken review.
But it isn’t all just about those experienced in the crypto landscape. Newcomers can switch to basic mode, familiarise themselves with the site, and invest with minimal hassle. AscendEX is, from top to bottom, a complete online exchange package that appeals to users of all sorts.