An Explanation Of Fees At AscendEX Exchange

AscendEX is a cryptocurrency exchange that was launched in 2018 and established by a group of Wall Street veterans. The platform aims to be the fastest, easiest, and most convenient way for you to trade and invest in cryptocurrencies. The site has also been designed with user-friendliness in mind, making it perfect for traders of all skill levels. Regardless of if you’ve been financial trading for years or have just started, AscendEX aims to be an essential resource.

As it stands, AscendEX has over 1 million traders, has accumulated $150 billion in trade volume, and is backed by over a century of combined Wall Street experience.

Trading Fees

When you engage in trading on the platform, the transactions and withdrawals are subject to fees. There are no fees for on-platform transfers or deposits. However, not only are the fees that do exist already substantially lower in comparison to fiat currency exchanges, trading fees can also be reduced further depending on a tiered VIP system. Spot trading and futures trading are subject to different fees.

In a nutshell, the tiered VIP system on AscendEX is simple in principle. Those that engage in higher levels of trade volume at AscendEX and those that invest heavily in the native crypto are charged slightly less trade fees.

In more detail, there are 9 levels of VIP tier, with each tier determined by a pair of factors. The factors are how much trade volume you’ve engaged in over the last 30 days, or how much value you currently hold in ASD. ASD is the native currency of the exchange. Note that the highest VIP tier levels, 8 and 9, require both a high trading volume as well as a holding in ASD above a certain amount.

In regards to how your fees are automatically calculated, the 30 day trade volume and holdings in ASD are calculated on a daily basis at UTC 00:00. So, if you’ve engaged in trading or have invested more in ASD, wait for your VIP tier level to be recalculated before making any additional transactions.

Spot Trading Fees

Here is a breakdown of the trade fees based on trade volume and ASD holdings for spot trading.

VIP Level30 Day Trade VolumeCategoryASD HoldingsMake/Taker Large Market CapMaker/Taker 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 Fees

Here is a breakdown of the trade fees based on trade volume and ASD holdings for futures trading.

VIP Level30 Day Trade VolumeCategoryASD HoldingsMaker/Taker
VIP0≥ 0OR≥ 00.0200% / 0.0600%
VIP1≥ 5,000,000OR≥ 10,0000.0180% / 0.0600%
VIP2≥ 10,000,000OR≥ 100,0000.0150% / 0.0600%
VIP3≥ 25,000,000OR≥ 500,0000.0120% / 0.0600%
VIP4≥ 50,000,000OR≥ 1,000,0000.0100% / 0.0600%
VIP5≥ 100,000,000OR≥ 5,000,0000.0075% / 0.0600%
VIP6≥ 200,000,000OR≥ 10,000,0000.0050% / 0.0600%
VIP7≥ 500,000,000AND≥ 15,000,0000.0003% / 0.0500%
VIP8≥ 1,000,000,000AND≥ 25,000,0000.0000% / 0.0400%

AscendEX Token (ASD)

The day to day operations of the AscendEX exchange are largely based around the native token of the platform, ASD. As it stands, the maximum supply of ASD is 1 billion, making it a very widely available currency. ASD is used strictly as a currency for the platform, tradable for various services and other operations. You might be required to pay with ASD to participate in a promotional activity on the platform. You might also use ASD to purchase a Volatility Card or Point Card. Whatever services, functions or promotions are available at AscendEX, you will want to use ASD to make the operations go smoothly.

The primary usage of ASD, as mentioned above, is that holding it will grant special discounts on fees. Additionally, since ASD is treated as an investment asset, the currency can be staked to earn short term rewards in Ethereum (ETH), Bitcoin (BTC) and USD Token (USDT). ASD can be purchased directly on AscendEX, or it can be traded for with other cryptos.

Why Are Transaction Fees Needed?

There is, naturally, a focus by AscendEX on encouraging frequent trade, as well as investment in the platform’s native token. However, transaction fees are otherwise based around the fact that blockchains do not operate for free. Blockchains operate through blocks, as the name suggests, and each of these blocks must be processed in order for the flow of information to remain constant.

So, who handles all the processing of blocks, thus keeping the transfer of information going? Miners. You have probably already heard the term crypto miner, though may have been unsure as to the actual purpose miners serve. Miners are independent third parties that use their own personal hardware to process blocks. When a block is processed it can be added to the blockchain. Of course, computer processing power does not come cheap. Not only does a miner require powerful hardware, but the processing of blocks also consumes electricity and time. Therefore, that miner must be paid for their work. Where does the money to pay the hundreds of thousands of miners come from? That’s right; transaction fees.

The fact of the matter is that AscendEX and all exchanges require a constant supply of cash to remain operational. If miners aren’t paid, the blockchain becomes unsustainable, it’s as easy as that.

The percentage of a transaction fee is also a very delicate balance. Given that there are many exchanges and many blockchains, fees can’t be too high or too low. Simply put, if a competitor offers lower fees then a platform will lose business. On the other hand, if a fee is too low there will be no money to pay miners. There is a very delicate balance of finding the exact right fee to keep the blockchain running.

Deposits And Withdrawals

Making a deposit or withdrawal at AscendEX is quick and easy. The platform has secured partnerships with a number of traditional fiat payment systems, including Simplex, MoonPay and Mercuryo.

Using these payment systems, you can easily purchase over 60 cryptocurrencies in just a few moments, allowing for extremely convenient and streamlined trading. If you prefer to trade for cryptos with other cryptos AscendEX supports a quick transfer option. Transferring crypto to AscendEX, from an external wallet, is as easy as generating a deposit address. When the generated deposit address is entered at the external wallet the transfer should occur automatically.

The minimum amount that can be deposited at AscendEX depends on the asset in question. When depositing a crypto a popup will indicate if the amount meets the minimum deposit limits. As far as withdrawals are concerned, the minimum withdrawal depends on whether the account you’re using is or isn’t verified. Using BTC as a baseline, an unverified account has a daily withdrawal limit of 2BTC. A verified account has a much higher daily withdrawal limit of 100BTC.

This restriction is due to associated anti-money laundering rules and regulations. A verified account has had to supply a valid identification document. This is in compliance with the Know Your Customer (KYC) process.

The KYC process is designed to combat money laundering and other illegal activities that sometimes occur at crypto exchange platforms. In a nutshell, you should verify your account ASAP if you want to avoid restrictions.

AscendEX Services

AscendEX is a diverse, innovative crypto exchange with a number of interesting features and services. Although the platform is suitable for beginners, many of the services are aimed at asset trading professionals. To start, AscendEX offers trading in over 200 cryptocurrencies. All the top cryptos are included, such as DOGE, LTC, ETH, USDT, and BTC. A number of other altcoins and stablecoins are also supported, making the platform amongst the most inclusive currently in operation.


What Are The Fees at AscendEX Exchange?

The AscendEX platform does not charge fees for deposits or internal transfers. There are fees for withdrawals, depending on the size of the withdrawal and the asset being withdrawn. You will be prompted with the applicable fee when initiating the withdrawal.

Transactions are also subject to fees, though there are a number of factors that determine the transaction fee. AscendEX uses a tiered VIP system to determine fees. The higher the VIP tier, the lower the fees. There are two factors that increase a traders VIP tier; personal trade volume in the last 30 days as well as holdings in ASD. VIP tier increases as these other parameters are met, thereby reducing fees.

Why Does AscendEX Charge Transaction Fees?

The AscendEX platform operates through a blockchain, and blockchains do not operate for free. Information blocks containing information that relates to transactions are processed by independent miners. Each miner must use specialised, powerful computer hardware in order to engage in the process. Time and electricity must also be invested in the mining process. Once miners have processed data blocks, those blocks are added to the blockchain.

Simply put, miners must be paid for their time and effort. If miners are not paid a sufficient amount they will have no reason to operate the blockchain. In summary, miners are paid to keep a blockchain running by transaction fees.

What is The ASD Token?

The ASD token is the native currency of the AscendEX exchange platform. The token is used internally to fund various platform based services as well as to buy into promotions. In order for a trader to make the most out of the platform they will be required to spend at least some ASD.

The amount of ASD held by a trader will also have a direct impact on applicable service fees, as mentioned above. The more ASD held, the lower transaction fees will be overall. ASD can be purchased directly from the platform for fiat currency, or it can be traded for using other crypto. AscendEX itself allows for the trading of ASD using other cryptos.

How Do I Increase My VIP Tier?

There are 9 VIP tier levels at AscendEX. As you climb high up these tiers, your transaction fees will be gradually reduced. There are two major factors that determine VIP level; your trade volume of the previous 30 days as well as how much you hold in ASD.

If you want to increase your VIP level, simply put, you must invest in more ASD or be a more active trader. Keep in mind that trade volumes and ASD holdings are updated once every 24 hours at UST 00:00. So, if you’re trying to increase your VIP tier please allow for a recalculation before making any additional transactions.

Why Do I Have a Withdrawal Amount Rrestriction?

The AscendEX platform allows traders to make use of services even if they haven’t completed the Know Your Customer (KYC) process. However, if you are using an account that hasn’t completed KYC, in other words, an unverified account, there will be a permanent withdrawal limit enforced. If you are being limited you won’t be able to withdraw more than the equivalent of 2BTC on a daily basis. A verified account can withdraw the equivalent of 100BTC.

To have the withdrawal limit removed, you need to provide a verified identification document. With the required documents at the ready, completing the KYC process takes just a few moments.

The KYC process is an important security measure in use at the majority of crypto exchanges. KYC dramatically limits any money laundering or other illegal activities at the exchange, thereby keeping the platform within financial regulatory laws.

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