3.7/5

💰 Fees Average
🔒 Security Average
📲 Features Above Average
🏦 Deposits & Withdrawals Below average
👍 Ease Of Use Average

The Bottom Line

AscendEx is best if you want to trade and withdraw crypto with limited KYC and no ID
The main downsides are no fiat deposit/withdrawals are supported and cheaper platforms are available
We found, there are better alternatives overall with more coins, volume, features and slightly lower fees (eg. Binance and KuCoin)

Where It Shines

Lots of Features: Spot trading, copy trading, rewards, staking, margin, futures and more
Partial KYC: Very easy to start trading, all you need is an email address. Users can withdraw up to 1 BTC per day without verification

Where It Falls Short

No Fiat Currencies: All trading pairs are in USDT and only crypto withdrawals are available
Fees: Cheaper platforms are available like Binance or KuCoin. AscendEx charges a 0.20% trading fee on altcoins and their volume is significantly lower than bigger platforms
Customer Support: We tried contacting their support team two separate times and never received a response
Not Licensed: AscendEx is not regulated in every country it operates in

Screenshots

Desktop
App

Overview

📲 Features	Header	🔐 Security	Header
Coins Mobile App Web App Beginner Friendly? Pro Trading Terminal Limit Orders Recurring Buys Staking Margin Futures OTC 24/7 Support	240+ Yes Yes No Yes Yes No Yes Yes Yes No Yes	App 2FA Uses Cold Storage? Hacks or Incidents? Insurance Policy See Login History Address Whitelisting Crypto Withdrawals Allowed Year Founded Publicly Traded?	Yes Yes Yes (2021) No Yes Yes Yes 2018 No
💰 Fees	0.0/5	🏦 Deposits & Withdrawals	0.0/5
Maker Fee Taker Fee Crypto Deposits BTC Withdrawal Fee ETH Withdrawal Fee	0.1%-0.2% 0.1%-0.2% Free 0.0005 BTC 0.01 ETH	Fiat Wallet Currencies Instant Buy Currencies Withdraw Fiat Currency? Credit/Debit P2P Exchange	0 90+ No Yes No

Table last updated: Jan 12, 2021

Compared

Compare the world's most popular cryptocurrency exchanges:

Name	Coins	# of Features	Standard Trading Fee	Supported Countries	Fiat Wallets?	BTC Withdrawal Fee	Website
AscendEx	240+	15+	0.10%	190+	No	0.0005 BTC	Sign Up
Binance 🏆(#1 overall)	600+	30+	0.10%	100+	Yes	0.0005 BTC	Sign Up
Bitfinex	150+	15+	0.20%	?	Yes	0.0004 BTC	Sign Up
Bitmart	750+	10+	0.25%	180+	No	0.0005 BTC	Sign Up
Bitstamp	50+	5+	0.50%	?	Yes	0.0005 BTC	Sign Up
Bittrex Global	300+	5+	0.75%	100+	Yes	0.0003 BTC	Sign Up
Bybit	140+	15+	0.10%	180+	No	0.0005 BTC	Sign Up
Coinbase	170+	10+	3.99%	100+	Yes	Dynamic	Sign Up
Coinbase Pro	110+	5+	0.60%	100+	Yes	Dynamic	Sign Up
Coinmetro	30+	10+	0.10%	150+	Yes	0.15%	Sign Up
Crypto.com	250+	20+	0.40%	90+	Yes	0.0006 BTC	Sign Up
eToro	40+	10+	0%	50+	Yes	0.50%	Sign Up
Gate.io	1400+	30+	0.195%	190+	No	0.001 BTC	Sign Up
Gemini	60+	15+	1.49%+	60+	Yes	0.001 BTC	Sign Up
Hi.com	60+	10+	0%	100+	Yes	0.0005 BTC	Sign Up
Huobi Global	500+	20+	0.20%	130+	Yes	0.0005 BTC	Sign Up
Kraken	190+	10+	0.26%	190+	Yes	0.00002 BTC	Sign Up
KuCoin	700+	20+	0.10%	190+	No	0.0005 BTC	Sign Up
OKX	350+	25+	0.10%	100+	No	0.0002 BTC*	Sign Up
Poloniex	300+	10+	0.155%	100+	No	0.0005 BTC	Sign Up
Uphold	130+	10+	0%	180+	Yes	0.0003 BTC + $2.99	Sign Up

Compare All

About

AscendEX (formerly known as BitMax) is a Singapore-based cryptocurrency exchange that was founded in 2018. According to their website they have over 1 million users in 180+ countries around the globe.

The platform offers a variety of products such as spot trading, futures, staking, copy trading, airdrops and much more. They also have their own token, “ASD”, which is a top 250 coin on CoinMarketCap and can be used to get a discount on the exchange.

Some Stats:

Available in 180+ countries
Over 1 million users
$100m+ USD daily volume
Rebranded to AscendEx in 2021

Supported Countries

AscendEx is supported 190+ countries around the world. Click here to view the full list.

Security

Security is one of the most important parts of any crypto exchange. Here is everything we found on AscendEx's security features and reputation.

Company Security Features

Majority of crypto assets held in cold storage
Smart contract audits
Real-time exchange monitoring

User Security Features

Two-factor authentication for login and withdrawals (SMS, email or Google Authenticator)
Anti-phishing code for emails
Device management
View login history (login times, locations, IP addresses, etc)
Freeze account button in case of unauthorized activity

AscendEx Hack (Dec 11, 2021)

AscendEx suffered it’s only hack on the 11th of December 2021. AscendEx detected unauthorized transactions in its hot wallets and lost an estimated $77 million. Upon discovering the incident, AscendEx immediately disabled deposits and withdrawals and reported the incident to its users.

In the following days, deposits and withdrawals were reactivated and AscendEx announced it would reimburse affected customers.

Is AscendEx Safe?

AscendEx is considered a safe platform that's been operating for years. In the one case of a hack, they reimbursed users 100% of what they lost and they offer various security features including cold storage, 2FA, and more.

However, a point to consider is AscendEx doesn't operate with fiat currencies or banks. They are under less regulatory pressures than exchanges which operate inside the banking system.

KYC Verification

Application Time	60 seconds (partial verification) 25 minutes (full verification)
KYC Verification	AscendEx has partial verification. You can withdraw 2 BTC per day without going through KYC.
Time to Get Verified	72 hours
Who Is Eligible?	190+ countries
Sign Up Requirements	Partial Verification (withdraw 2 BTC/day): Email address and password First and last name Phone (optional) Full Verification (withdraw 100 BTC/day): Everything above plus; Country Date of birth ID (passport, driver's license or national id) Personal image through their app

AscendEX requires only an email and password to open an account if you want to withdraw up to 2 BTC per day. You can raise the withdrawal limit to 100 BTC per day if you go through their KYC verification.

If you wish to get verified, you'll need to provide your ID, date of birth, face verification and other info. In most cases, the KYC application can be completed in a matter of minutes. However, our experience with the app was painfully difficult, and it took us 25 minutes to complete KYC.

Features

List of Features:

iOS, Android and Web App
Credit/debit card buys
1 click convert
Advanced trading
Margin trading
Futures trading
Copy trading
Staking
DOT slot auctions
ASD token
Referral program
Investment multiple card
Points card

1. 1-Click Convert

1-click convert is the easiest way to trade assets instantly with zero fees.

2. Trading View

AscendEX offers an advanced trading dashboard with limit orders, market orders and stop loss orders. They offer:

Spot trading
Margin trading
Futures trading

3. Copy Trading

Follow other investors with the click of a button for a monthly fee.

4. Staking (AscendEx Earn)

AscendEx Earn offers staking, DeFi yield farming, liquidity mining, and other ways to earn more value from your tokens.

60+ projects available
APY's ranging from 2% to 796%
Staked assets can be used as collateral for margin and futures trading
Earn rewards after one day

5. ASD Native Token

AscendEx Token (ASD) is the native token of the exchange. ASD holders are eligible for trading fee discounts, higher rewards, discounted margin interest, and more.

6. Referral Program

Users can invite their friends and receive up to 40% of their invited users trading fees.

Other Features

DOT slot auctions
Institutional accounts
Pro API
Rewards Center - complete tasks to earn rewards
Point Card - Get a 50% discount on the repayment of your margin interest
Investment Multiple Card - ASD holders have an opportunity to 5x their investment profit
Lucky airdrop

Deposit & Withdrawals

AscendEx does not operate with fiat currencies except for instant purchases. All other operations inside the exchange happen in USDT pairs. Additionally, only crypto withdrawals are available.

To avoid high fees, the best way to fund your AscendEx account is by depositing crypto from a local exchange that supports your bank account. When cashing out, you can also withdraw your crypto to that local exchange.

Buying Crypto

When you click "Buy Crypto" AscendEx shows you this page below. The only option is to instant purchase via Banxa, Moonpay, Simplex or other third-party platforms. These third-parties offer a variety of payment methods in over 90 currencies but can be extremely expensive (up to 7% in fees).

No fiat wallets - Instant purchases only
No fiat withdrawals - only crypto withdrawals are supported

Crypto Withdrawals

Bitcoin: 0.0005 BTC withdrawal fee
Ethereum: 0.01 ETH withdrawal fee
All crypto withdrawal fees can be found here

Fees

Overall, AscendEx is a slightly more expensive platform than some competitors. They have 0.10% to 0.20% trading fees and roughly $100 million in 24 hour trading volume as of Jan 25, 2022.

Trading Fees

Like many platforms, AscendEx offers lower trading fees the more you trade. Large market cap assets have a 0.10% trading fee while other altcoins have a 0.20% trading fee.

Volume

According to CoinMarketCap data (which isn't always 100% accurate), AscendEx had $100 million in 24 hour trading volume as of Jan 25, 2022. In comparison, Binance was the highest at over $16 billion in 24 hour trading volume.

Customer Support

AscendEX offers customer support via the following channels:

Email
Chatbot
Telegram communities
Help center with FAQs and walkthroughs

Our personal experience with customer support was not good. We contacted AscendEx two separate times via email but never received a response.

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FAQ

Is AscendEx Insured?

AscendEx does not offer insurance on cryptocurrencies or assets in your account. In the AscendEx terms of service it states, "Deposits in your Digital Asset Account are not insured."

What Happened to BitMax?

BitMax.io changed its name and rebranded to AscendEx in 2021. Their CEO said, "This new brand name is inspired by the rapid rise of both our industry, and that of the many people taking part in it.'

Does AscendEx Require KYC for Withdrawal?

AscendEx does not require KYC to withdraw crypto. Users can withdraw up to 1 BTC per day without KYC verification and verified users can withdraw 100 BTC per day.

Is AscendEx Legit?

Yes, AscendEx is a legitimate cryptocurrency exchange founded in 2018. It is based in Singapore and has over 1 million users in 180+ countries.

Where is AscendEx Most Popular?

According to SimilarWeb, 11.87% of AscenedEx traffic comes from Russia, 5.95% from Ukraine, 5.83% from Vietnam, and 3.93% from Kazakhstan. The rest of the traffic is distributed across 180+ countries.

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The Bottom Line

Where It Shines

Where It Falls Short

Screenshots

Desktop

App

Overview

📲 Features

🔐 Security

💰 Fees

🏦 Deposits & Withdrawals

Compared

About

Some Stats:

Supported Countries

Security

Company Security Features

User Security Features

AscendEx Hack (Dec 11, 2021)

Is AscendEx Safe?

KYC Verification

Features

List of Features:

1. 1-Click Convert

2. Trading View

3. Copy Trading

4. Staking (AscendEx Earn)

5. ASD Native Token

6. Referral Program

Other Features

Deposit & Withdrawals

Buying Crypto

Crypto Withdrawals

Fees

Trading Fees

Volume

Customer Support

Best AscendEx Alternatives

FAQ

Is AscendEx Insured?

What Happened to BitMax?

Does AscendEx Require KYC for Withdrawal?

Is AscendEx Legit?

Where is AscendEx Most Popular?