Introduction
AscendEX is a cryptocurrency exchange platform founded in 2018, also known as BitMax. It stands out for its wide range of financial services and commitment to security and transparency. With a user-friendly interface and advanced tools, AscendEX caters to both novice traders and experienced professionals.
AscendEX name change
AscendEX changed its name in 2020 for several strategic and commercial reasons:
Expansion and branding: By changing its name from BitMax to AscendEX, the platform aimed to create a stronger, more distinctive brand image in the cryptocurrency ecosystem. The new name “AscendEX” evokes the idea of progression, ascent, and perhaps an enhanced user experience.
Internationalization: The name change may also have been motivated by a desire to better position the company on international markets. A more universal name like “AscendEX” can be more easily understood and remembered by non-English-speaking users, which is crucial in a global market.
Platform evolution: With the expansion of its services and the introduction of new functionalities, a new identity under the AscendEX name could reflect these evolutions and better match the company's vision and values at this stage.
Reputation and reorientation: Sometimes, a name change can be associated with a desire to redefine reputation or mark a new strategic direction, such as focusing more on institutional services, technological innovation, or other aspects of the cryptocurrency market.
AscendEX characteristics
AscendEX features a multitude of functionalities, such as spot trading, margin trading, futures, as well as performance products like staking and loans. The platform is renowned for its competitive fees and robust security infrastructure, including advanced protection measures against cyber attacks.
Here is a table of AscendEX's key features:
Feature | Description |
Wide selection of crypto-currencies | AscendEX offers an extensive variety of crypto-currencies available for exchange, covering both popular tokens and emerging projects. |
Advanced trading | Supports various order types such as limit orders, market orders, stop-loss orders and threshold orders. |
Enhanced security | Use of advanced security protocols including cold storage for user funds, and regular audits to ensure asset protection. |
Staking and rewards | Allows users to participate in the staking of selected crypto-currencies directly from the platform, generating rewards based on their commitment to the network. |
User-friendly interface | Designed to be intuitive and easy to use, offering a fluid user experience even for beginners. |
Institutional Services | Offers solutions tailored to institutional traders, including over-the-counter (OTC) trading services and liquidity options. |
24/7 Customer Support | Responsive customer service available 24/7 to answer questions and resolve user issues quickly. |
How AscendEX works
AscendEX works by allowing users to buy, sell and trade a variety of cryptocurrencies. The platform uses an order book system, facilitating transactions between buyers and sellers. Users can also use algorithmic trading tools to optimize their investment strategies.
Registration and security: Users register on the platform by creating an account and going through a verification process to ensure security and regulatory compliance.
Deposit and fund security: Once registered, users can deposit funds in cryptocurrency or fiat currency into their AscendEX account. In addition, the platform employs robust security measures such as cold storage for the majority of user funds, as well as regular security audits to ensure protection against cyber attacks and fraud.
Trading
Trading interface: AscendEX offers a user-friendly interface where users can view the different cryptocurrency markets available and price charts in real time.
Order types: Users can place orders such as market orders, limit orders, stop-loss orders, etc., to buy or sell cryptocurrencies at specific prices.
Advanced features
Staking: Certain crypto-currencies available on AscendEX can be staked directly from the platform, enabling users to generate rewards based on their participation in the network.
Advanced trading: For experienced traders, AscendEX offers advanced features such as over-the-counter (OTC) trading options and portfolio management tools.
AscendEX features
AscendEX offers a wide range of features, including:
Spot and margin trading: for direct or leveraged trading.
Futures: Speculate on future price movements.
Staking: Earn interest by helping to secure blockchain networks.
Cryptocurrency loans: Lend or borrow cryptocurrencies at competitive rates.
Derivatives trading: AscendEX offers derivatives such as options and swaps, enabling users to diversify their trading strategies and effectively manage their market exposure.
Competitive trading fees: The platform stands out for its competitive trading fees, making it attractive to traders looking to maximize their returns.
Advanced market analysis: AscendEX offers advanced technical analysis tools and detailed charts, enabling users to make informed trading decisions.
Active community and education: The platform fosters an active user community and offers educational resources such as webinars, blog posts and guides to help traders improve their skills and understanding of the market.
Integration with external wallets: AscendEX supports integration with external wallets to enable users to withdraw and deposit funds easily and securely.
Use of cryptocurrencies
Users can deposit and withdraw cryptocurrencies, with support for a wide variety of digital assets. Transactions are fast and secured, and the platform offers trading pairs for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and many others. Cryptocurrencies are also used on the platform in these situations:
Trading: AscendEX enables users to exchange a wide selection of cryptocurrencies for other cryptocurrencies or for fiat currencies. Users can trade spot, margin (leveraged), as well as futures and other derivatives.
Staking: The platform offers the possibility of participating in the staking of certain cryptocurrencies directly from users' accounts. Staking enables cryptocurrency holders to contribute to the security and validation of transactions on their respective networks, while receiving rewards in the form of newly generated cryptocurrencies or interests.
Cryptocurrency loans: AscendEX also facilitates cryptocurrency loans between users. Cryptocurrency holders can lend their assets to other users for interests, giving borrowers access to liquidity while enabling lenders to generate passive income.
Rewards: AscendEX uses cryptocurrencies as a means of reward in its promotional and loyalty programs. Users can be rewarded with cryptocurrencies for their trading activity, commitment to the platform or participation in special events.
Payments and transactions: AscendEX facilitates payments and transactions using cryptocurrencies as a means of transferring value. This enables users to carry out transactions quickly and securely, while enjoying the benefits of blockchain technology such as transparency, security and reduced fees.
AscendEX mobile app
AscendEX's mobile app enables users to manage their wallets and carry out transactions on the move. Available on iOS and Android, it offers an intuitive interface and real-time notifications to follow the markets.
Here are some important aspects of this mobile app:
Mobile trading: Users can access all cryptocurrency markets available on AscendEX and place trading orders (such as market orders, limit orders, etc.) directly from the app.
Advanced features: In addition to cryptocurrency trading, the app also supports advanced features such as margin trading (with leverage) and access to futures contracts for experienced traders.
Security: AscendEX attaches great importance to the security of users' funds, including on the app. Robust security measures are in place to protect accounts and transactions.
Real-time notifications: Users can receive real-time notifications of market movements, executed orders and other important events related to their accounts.
Portfolio management: The app enables users to manage their cryptocurrency portfolio, including deposits, withdrawals and viewing transaction histories.
News and analysis: AscendEX also offers in-app news and analysis features, enabling users to stay aware of the latest market news and perform technical analysis.
AscendEX pricing and fees
AscendEX offers competitive fees, with discounts available for users holding the platform's native token, ASD. Trading fees are based on a maker-taker model, and additional charges may apply for cryptocurrency withdrawals.
Here's a table summarizing the platform's fees:
Fee type | Description |
Cash trading fee | Varies between 0.10% and 0.20% per transaction, depending on trading volume and user's VIP status. |
Margin trading fee | Calculated on a daily basis according to the amount borrowed for leveraged trading. |
Futures Trading Fees | Included in the spread or specified for each futures contract according to specific conditions. |
Cryptocurrency deposit fees | Generally free, but network fees may apply depending on the blockchain used. |
Cryptocurrency withdrawal fees | Variable according to the cryptocurrency withdrawn and adjusted to cover network and platform operational costs. |
Staking fees | Competitive and variable depending on the specific cryptocurrency and market conditions. |
Cryptocurrency lending fees | Charged to users involved in cryptocurrency loans, with competitive interest rates for lenders and borrowers. |
Conversion fees | Applied when converting between different cryptocurrencies or between cryptocurrencies and fiat currencies. |
Advantages and disadvantages of the platform
Advantages
Wide range of financial products: AscendEX offers a diverse range of financial products, including spot, margin, futures, staking and cryptocurrency lending trading. This gives users plenty of options to diversify their trading and investment strategies.
Competitive transaction fees: The platform offers competitive transaction fees, which can be a significant advantage for traders looking to maximize their net returns.
Advanced security tools: AscendEX places great importance on the security of user funds, employing advanced security tools such as cold storage for the majority of user funds and robust security measures to protect against cyber-attacks.
Disadvantages
Complexity for beginners: Due to the diversity of financial products and advanced features available, AscendEX can be complex for beginners in cryptocurrency trading.
The learning curve can be steep for those unfamiliar with advanced trading concepts.
Sometimes slow customer support: Some users have reported that AscendEX's customer support can sometimes be slow to respond, which can be frustrating for those needing quick assistance with problems or questions.
Referral system
AscendEX offers a referral program called “AscendEX Referral Program”, which enables users to earn rewards by inviting new users to join the platform. Here's how the AscendEX Referral Program works:
Program registration: To participate in the referral program, users must first register and obtain a unique referral link from their AscendEX account.
Inviting new users: Users can share their referral link with their friends, network or others interested in cryptocurrency trading on the platform.
Rewards for the Referrer: When a new user registers on AscendEX using the referral link and carries out eligible transactions, the referrer can receive rewards. These rewards may be in the form of reduced trading commissions, discounts on transaction fees, or other specific benefits defined by AscendEX.
Referrer benefits: New referred users can also benefit from special advantages, such as reduced transaction fees for an initial period or other incentives to encourage their activity on the platform.
Tracking and management: AscendEX offers users a dedicated dashboard or interface where they can track the status of their invitations, accumulated rewards and other metrics related to their referral performance.
Conditions and limitations : Specific details of the referral program, including reward amounts and eligibility requirements, may vary and are generally defined in AscendEX's referral program terms and conditions.
Customer feedback
Positive
Wide selection of cryptocurrencies: Users appreciate the variety of cryptocurrencies available on AscendEX, enabling easy diversification of their portfolios.
Competitive transaction fees: Many reviews point out that transaction fees on AscendEX are competitive with other platforms, which is an advantage for active traders.
User-friendly interface: The mobile app and web version of the platform are often described as intuitive and easy to use, even for those who are not tech-savvy.
Advanced security: AscendEX's robust security measures, such as cold storage of funds, are highly appreciated by users, who feel reassured that their assets are protected.
Reward programs and staking: Users like the staking programs and rewards offered by the platform, which enable them to earn interests on their cryptocurrency holdings.
Negative
Complexity for beginners: Several reviews mention that the platform can be confusing for newcomers to the world of cryptocurrencies, due to the diversity of products and options available.
Slow customer support: One of the most frequently cited negative points concerns the responsiveness of customer support. Some users reported delays in responses and difficulties in getting quick help with problems.
Verification time: A few reviews point out that the KYC (Know Your Customer) verification process can be long, which can delay full access to the platform's functionalities.
Withdrawals and deposits: Although withdrawal fees are generally reasonable, some users have noted delays in processing deposits and withdrawals.
Thus, customer reviews of AscendEX are generally positive, highlighting the variety of services and reliability of the platform. However, some users have expressed concerns about customer service and the complexity of the interface for newcomers.
Future developments and prospects
AscendEX intends to develop some aspects of its platform, including:
1. Expansion of financial products:
New trading instruments: AscendEX plans to introduce new financial products such as options, more diversified futures, and innovative derivatives to offer traders more choice.
Staking and Yield Farming: The expansion of staking and yield farming options to include more cryptocurrencies and competitive rates of return is also part of future plans.
2. Improving the user experience:
- Interface and UX: Continue to improve the user interface and user experience (UX) to make the platform more intuitive and accessible, especially for beginners.
- Mobile app: Regularly update the app to improve performance, add new features and correct bugs.
3. Enhanced security:
- Advanced security technologies: Integration of advanced security technologies such as multi-factor authentication (MFA) and biometric verification to reinforce user account protection.
- Audits and compliance: Perform regular security audits and ensure compliance with local and international regulations to maintain user confidence.
4. Geographic expansion:
- New markets: AscendEX aims to expand its presence in new geographical markets by obtaining the necessary licenses and adapting its services to local regulations.
- Languages and localized support: Add additional language options and offer localized customer support to better serve a global user base.
5. Integration of DeFi and NFT:
- DeFi projects: Explore collaborations with decentralized finance (DeFi) projects to integrate DeFi functionalities directly on the platform, such as decentralized lending and liquidity pools.
- NFT marketplace: Consider introducing a marketplace for non-fungible tokens (NFT) to enable users to buy, sell and trade NFT.
6. Rewards and loyalty programs:
- User benefits: Develop more attractive rewards and loyalty programs to encourage user engagement and loyalty.
- Events and promotions: Organize special events, trading competitions and promotions to stimulate activity on the platform.
7. Education and community:
- Educational resources: Enrich educational resources with webinars, video tutorials, and online courses to help users improve their trading and investing skills.
- Community engagement: Strengthen community engagement through forums, discussion groups and online events to create an active and supportive community.
Alternatives to AscendEX
Alternatives to AscendEX include Binance, Coinbase and Kraken. To give you a better overview, here is a table comparing AscendEX and its main competitors:
| Platform | Products et services | Fees | Security | User base |
| AscendEX | Spot and margin trading, futures, staking, cryptocurrency lending, DeFi | Competitive (0.10% – 0.20%) | Advanced security, cold storage | Medium, growing |
| Binance | Spot and margin trading, futures, staking, loans, DeFi, NFT, launchpad | Very competitive (0.10% spot) | Advanced security, regular audits | Very large, world leader |
| Coinbase Pro | Spot trading, staking, institutional services | Competitive, but higher (0.50%) | High-level security, regulated in the USA | Large user base, especially in the USA |
| Kraken | Spot and margin trading, futures, staking | Competitive (0.16% – 0.26%) | Rigorous security, regular audits | Large, renowned for security |
| Huobi Global | Spot and margin trading, futures, staking, loans, DeFi | Competitive (0.20% spot) | Advanced security, external audits | Large, especially in Asia |
| OKX | Spot and margin trading, futures, staking, loans, DeFi, NFT | Very competitive (0.10% spot) | Advanced security, cold storage | Large, fast-growing |
| KuCoin | Spot and margin trading, futures, staking, loans, DeFi | Competitive (0.10% spot) | Enhanced security, periodic audits | Large, innovation-driven |
| Bitfinex | Spot and margin trading, futures, staking, loans | Competitive (0.10% – 0.20%) | Advanced security, continuous monitoring | Medium, renowned for advanced traders |
| FTX | Spot and margin trading, futures, staking, DeFi, NFT (before bankruptcy) | Very competitive (0.02% – 0.07%) | Advanced security (before problems) | Large (before bankruptcy) |
| Gemini | Spot trading, staking, institutional services | Higher (0.50%) | Maximum security, regulated in USA | Large, especially in USA |
| Bybit | Spot and margin trading, futures, staking, DeFi | Very competitive (0.10% spot) | Advanced security, regular audits | Large, fast-growing |
Conclusion
AscendEX stands out as a versatile and competitive cryptocurrency trading platform, offering a comprehensive range of financial products tailored to the varied needs of traders and investors. With spot and margin trading options, futures, staking services, and cryptocurrency loans, AscendEX enables users to diversify their strategies and optimize their returns.
Competitive transaction fees and advanced security tools add to the platform's appeal, although the complexity of some features can be a challenge for beginners. AscendEX's referral program, as well as its ongoing efforts to improve the user experience and introduce new features, testify to its commitment to remaining a preferred option in the cryptocurrency ecosystem.
Customer reviews highlight the diversity of experience, with strengths such as security, diversity of financial products, and competitive fees, but also challenges such as initial complexity and responsiveness of customer support. By focusing on innovation and meeting the needs of its global user base, AscendEX is positioning itself for continued growth and a strengthened market presence.
With promising future prospects, including financial product expansion, user experience enhancement, and a focus on security, AscendEX aims to consolidate its place among the market leaders in cryptocurrency trading platforms.
Our opinion on AscendEX
We recommend AscendEX for its competitive fees, numerous trading options and advanced security. However, beginners may find the platform complex to get to grips with, and we suggest exploring the educational resources available for a better understanding.
FAQ
1. What is AscendEX? AscendEX is a cryptocurrency trading platform offering various services such as spot, margin, and futures trading.
2. What are the fees on AscendEX? Trading fees are based on a maker-taker model, with discounts for ASD token holders.
3. Is AscendEX secured? Yes, AscendEX uses advanced security measures to protect user funds and information.
