AscendEX (BitMax) Cryptocurrency Exchange: A Comprehensive Review
AscendEX, formerly known as BitMax, is a cryptocurrency exchange that has become a prominent player in the crypto industry since its inception. Known for its focus on innovation, security, and diverse trading options, AscendEX caters to both retail and institutional traders. This article explores AscendEX’s history, key features, and how it stands out in the competitive cryptocurrency exchange landscape.
History of AscendEX
AscendEX was established in 2018 by a team of Wall Street veterans with a mission to bridge the gap between traditional finance and blockchain technology. Originally named BitMax, the platform was rebranded to AscendEX in 2021 to reflect its evolution into a global digital asset financial platform.
Key Milestones:
- 2018: Launch of BitMax with spot trading services.
- 2019: Introduction of margin and futures trading.
- 2020: Expansion into staking and DeFi integration.
- 2021: Rebranding to AscendEX, launch of innovative yield farming products.
- 2022: Listed over 300 tokens and achieved significant trading volume growth.
Main Characteristics
AscendEX is designed to provide a seamless trading experience with advanced features. Key characteristics include:
- Advanced Trading Tools: Offers margin trading, futures, and staking.
- User-Friendly Interface: Intuitive design suitable for beginners and experienced traders.
- Security: Implements multi-layered encryption, cold wallet storage, and 2FA.
- Staking Services: Competitive rewards for staking popular tokens.
- DeFi Integration: Access to decentralized finance projects directly from the platform.
Exchange Rating
AscendEX is consistently ranked among the top 30 global exchanges by trading volume on platforms like CoinMarketCap and CoinGecko. It is lauded for its liquidity, security, and innovative offerings.
Number of Coins
The platform supports over 300 cryptocurrencies, including major tokens like:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Cardano (ADA)
- Polkadot (DOT)
Depositing and Withdrawing Money
Deposit Methods:
- Cryptocurrency Deposits: Supported for all listed assets.
- Fiat Deposits: Available through third-party payment providers.
Withdrawal Methods:
- Both fiat and crypto withdrawals are supported, with fees depending on the network or provider.
Fees:
- Crypto deposits are free.
- Withdrawal fees vary by token (e.g., BTC withdrawal fee is 0.0005 BTC).
Popular Currency Pairs
Top traded pairs on AscendEX include:
- BTC/USDT
- ETH/USDT
- SOL/USDT
- ADA/USDT
- DOT/USDT
Advantages and Disadvantages
Advantages:
- High liquidity across major pairs.
- Advanced trading options, including futures and staking.
- Robust security measures.
- Competitive trading fees.
Disadvantages:
- Limited fiat support compared to larger exchanges.
- Less recognized outside Asia compared to industry giants like Binance or Coinbase.
Registration Process
To create an account:
- Visit the AscendEX website or mobile app.
- Enter your email/phone number and set a password.
- Complete KYC verification for higher withdrawal limits.
- Enable 2FA for added security.
Active Users
AscendEX has over 1.5 million active users, with a strong presence in Asia, Europe, and North America. The platform’s user base continues to grow as it expands its features and global reach.
Mobile Applications
AscendEX”s mobile apps for iOS and Android offer:
- Real-time price tracking.
- Advanced charting tools.
- Instant trading and staking.
- Ratings: 4.6/5 on Google Play and 4.7/5 on the App Store.
Customer Support
Support options include:
- Live Chat: 24/7 assistance.
- Email Support: Responses typically within 24 hours.
- Help Center: Comprehensive guides and FAQs.
- Languages Supported: English, Chinese, Korean, and more.
P2P Trading
AscendEX does not currently support direct P2P trading but offers seamless fiat-to-crypto options through integrated third-party providers.
Geography
The exchange is most popular in:
- Asia: Particularly in China and Japan.
- Europe: Countries like Germany and the UK.
- North America: The US and Canada.
Languages Available
The platform supports multiple languages, including:
- English
- Chinese
- Korean
- Russian
- Spanish
Device Usage
About 65% of users access AscendEX via mobile devices, reflecting a strong preference for on-the-go trading.
Additional Instruments
AscendEX offers:
- Futures Trading: Up to 100x leverage.
- Staking Services: Earn rewards on over 20 tokens.
- Yield Farming: Access DeFi projects directly.
Corporate Accounts
The platform supports corporate clients with:
- Higher trading limits.
- API access for automated trading.
- Dedicated account managers.
Trading Fees
Spot Trading:
- Maker Fee: 0.10%.
- Taker Fee: 0.20%.
Futures Trading:
- Fees vary based on volume and membership tiers.
Fiat Money
AscendEX supports fiat transactions via third-party services, with currencies like USD, EUR, and CNY.
Investors and Ownership
AscendEX is a privately owned company, led by a team of financial and blockchain experts. It has received funding from several venture capital firms specializing in blockchain technology.
Team Information
The platform”s team consists of over 200 professionals from finance, technology, and blockchain industries, headquartered in Singapore.
Exchange Token
AscendEX”s native token, ASD, provides benefits like:
- Reduced trading fees.
- Enhanced staking rewards.
- Participation in governance.
Trading Volumes
Daily trading volumes on AscendEX exceed $1 billion, driven by its futures and spot markets.
NFT Support
AscendEX has yet to introduce a dedicated NFT marketplace but is exploring integration with existing platforms.
Affiliate Program
The affiliate program offers up to 40% commission on trading fees generated by referrals, making it attractive for influencers and marketers.
Traffic Data
AscendEX receives over 5 million monthly visits, with the majority of traffic coming from Asia and Europe.
Types of Orders
Supported order types include:
- Market Orders
- Limit Orders
- Stop-Loss Orders
Bonuses and Promotions
AscendEX frequently offers:
- Welcome Bonuses for new users.
- Trading competitions with lucrative prizes.
Interesting Facts
- AscendEX was one of the first platforms to offer staking as a service, now supporting over 20 tokens.
- It has strong partnerships with emerging blockchain projects, often listing tokens early.
AscendEX stands out as a versatile and secure cryptocurrency exchange with a strong focus on innovation and user experience. Its comprehensive trading options, staking services, and advanced tools make it an excellent choice for traders and investors looking to diversify their portfolios. Whether you”re a beginner or a professional, AscendEX has something to offer for everyone in the crypto space.