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AscendEX Exchange Review: Features, Fees, Security, and How It Compares to Other Crypto Exchanges

AscendEX, formerly known as BitMax, is a centralized cryptocurrency exchange that targets both retail users and professional traders with a broad suite of crypto trading tools. This AscendEX exchange review covers the trading platform from top to bottom, including spot trading, margin trading, perpetual futures, copy trading, fees, deposit and withdrawal processes, KYC verification, security controls such as two factor authentication, and how the platform compares to other exchanges in terms of liquidity, trading volumes, and user friendly design. Whether you want to buy and sell crypto tokens, test new strategies, or explore passive income via staking and yield farming, understanding the AscendEX fee structure, supported assets, risk controls, and customer support will help you decide if it is a good exchange for your crypto journey.

Because the cryptocurrency exchange landscape evolves quickly, market conditions, liquidity, available trading pairs, minimum transaction size, and margin rules may change. Always verify details inside your AscendEX account dashboard and announcements before making transactions. Nothing in this review is financial advice; crypto assets are volatile and trading with leverage carries significant risk.

What Is AscendEX?

AscendEX is a centralized cryptocurrency exchange offering spot markets, margin trading, and futures trading in the form of perpetual futures contracts. It lists a wide range of crypto tokens across major sectors including Bitcoin, Ethereum, stablecoins, DeFi, Layer-2 networks, and metaverse assets. The platform also promotes various features like a user friendly interface on web and mobile, a copy trading feature for derivatives, and Earn programs that pay interest on staked assets. The exchange launched in 2018 under the BitMax brand and rebranded to AscendEX in 2021, keeping its focus on professional-grade matching, robust order routing, and advanced risk controls that appeal to active traders.

AscendEX markets itself as a secure exchange, with custody controls, two factor authentication, withdrawal address whitelisting, and operational policies designed to safeguard funds. It has also integrated incentives to reduce trading fees through its native ASD token and volume-based tiers. Because the ecosystem spans spot trading, derivatives, and Earn, it can serve as a single platform for many crypto services, though users should evaluate each product’s risk and fee structure before committing funds.

Key Features and Services

Spot Trading and Trading Pairs

The core of any cryptocurrency exchange is its spot trading engine. AscendEX supports a large catalogue of trading pairs denominated in USDT, USD stablecoins, BTC, and sometimes native tokens of partner projects. Traders can buy and sell crypto with market orders, limit orders, and advanced order types such as stop-limit and take-profit triggers. For investors who want straightforward crypto trading without leverage, spot markets typically carry the lowest trading fee, with maker-taker pricing that scales down as trading volumes increase.

Liquidity and depth of order books matter for price discovery and minimal slippage. AscendEX generally maintains healthy depth on top-tier crypto assets like BTC and ETH, with tighter spreads than long-tail altcoins. For lower market cap coins or new listings, spreads can widen and the minimum transaction size may matter more. Always check real-time order books and the minimum lot size per pair before submitting orders.

Margin Trading and Leverage

For traders comfortable with risk, AscendEX offers margin trading on select pairs. Margin lets users borrow funds to amplify position size in spot markets. Interest charges apply to borrowed assets, and risk management tools like maintenance margin, margin calls, and automatic deleveraging help reduce platform-wide risk during severe market conditions. Because margin trading increases both potential gains and losses, users should carefully monitor collateral ratio, funding costs, and volatility of the underlying crypto assets.

Perpetual Futures for Active Traders

AscendEX’s futures trading product provides perpetual futures contracts that track the price of crypto tokens without expiry. Perpetual futures utilize a funding rate mechanism to anchor the contract price to the spot index price. Traders can take long or short exposure and use leverage within exchange-defined limits. Perpetual futures are designed for active strategies, hedging spot holdings, or expressing high-conviction views under fast-moving market conditions. Because leverage magnifies risk and can lead to rapid liquidation, risk controls such as position sizing, stop orders, and careful monitoring of funding payments are essential.

Copy Trading Feature

AscendEX supports a copy trading feature on derivatives, where users can mirror the trades of strategy leaders. This can be a way for beginners to gain exposure to advanced trading styles while learning. However, copy trading does not guarantee profits and carries the same risk as self-directed trading. Performance can vary dramatically during changing market conditions, and users remain responsible for their own risk tolerance, position sizes, and capital protection. Review trading history of strategy leaders, check drawdowns, and ensure the fee arrangements and slippage are acceptable before allocating funds to copy trading.

Earn: Staking, Yield Farming, and Passive Income

AscendEX Earn offers interest-bearing opportunities on certain assets via on-chain staking, DeFi yield farming integrations, and promotional campaigns. Staked assets may generate passive income, with APYs varying by token and program. These services can be attractive for long-term holders who want to earn rewards, but they involve smart contract risk, validator slashing risk, bridge risk, and counterparty risk. APYs can fluctuate, and yields in DeFi protocols are not guaranteed. Users should read program terms, lock-up schedules, reward distribution rules, and how early withdrawals affect accrued rewards or fees.

OTC and Institutional Services

For large tickets, AscendEX’s over the counter channels can facilitate direct trades with lower slippage compared to public order books. Institutional customers may also access API connectivity, custom settlement windows, and account tiers with reduced trading fees depending on volumes. OTC and block trading are useful when moving size without excessively impacting market price or paying wide spreads on exchange books for illiquid pairs.

Trading Platform and User Experience

User Friendly Interface on Web and Mobile

A user friendly platform matters for speed and error reduction. AscendEX’s trading platform is streamlined, with clear charts, order panels, order book visualization, and trade history. Hotkeys and layout presets help active traders, while beginners can stick to the simplified buy and sell tickets. On mobile, the app provides price alerts, quick access to spot trading and futures trading, a wallet overview, open orders, and PnL tracking.

Advanced Order Types and Trading Tools

Beyond market and limit orders, the platform supports stop-orders, time-in-force instructions, OCO combinations for risk management, and chart overlays such as moving averages, volume, and order book heatmaps. For futures and margin trading, traders can set isolated or cross margin, choose leverage levels per position, and review real-time unrealized PnL and liquidation prices. Downloadable trading history and exportable statements are available for bookkeeping and tax reporting.

Liquidity and Trading Volumes

AscendEX’s trading volumes vary by pair and time of day. The most liquid trading pairs are usually BTC, ETH, and popular stablecoin pairs, while lower market cap tokens may have more volatility and thinner books. Liquidity is central to execution quality; if you plan to scale a strategy, compare slippage across other exchanges to ensure you are getting competitive pricing. Institutional-grade APIs and co-location services can help high-frequency traders, although most retail users will interact via the web or mobile apps.

Account, KYC Verification, and Access

Opening an AscendEX Account

Creating an account requires an email or phone number, a secure password, and acceptance of the platform’s Terms of Service. To enhance security, enable two factor authentication with an authenticator app right after sign-up. This adds a second step to logins, withdrawals, and key account changes, protecting your funds against credential theft. Account security also benefits from withdrawal address whitelisting and anti-phishing codes in email communications.

KYC Verification and Compliance

Like most centralized cryptocurrency exchanges, AscendEX requires KYC verification for higher account limits and access to certain services. KYC verification typically includes government-issued ID, selfie or liveness verification, and sometimes proof of address, depending on jurisdiction and product access. Completing KYC verification can increase withdrawal limits and unlock futures trading or higher leverage, subject to local laws. The exchange may request enhanced due diligence for large withdrawals or accounts with significant trading volumes.

Geo-Restrictions and Regulatory Considerations

Service availability depends on your country of residence. Some regions restrict derivatives, margin, or even spot trading. In particular, U.S. regulations are strict for derivatives and centralized exchanges. Users should check the platform’s list of supported countries and restricted jurisdictions before depositing funds. Where allowed, AscendEX provides a suite of services that spans spot, margin, perpetual futures, and Earn. Where not allowed, accounts may be limited to reading market data without trading access.

AscendEX Fee Structure

Trading Fee, Maker-Taker Tiers, and Reduced Trading Fees

AscendEX fee structure uses maker-taker pricing for both spot and derivatives markets. Base trading fees start at a set rate and decrease when users reach higher volume tiers or stake the native ASD token. Using ASD can unlock reduced trading fees, VIP tiers, and periodic fee promotions. Makers, who add liquidity to the order book, often pay lower fees than takers who remove liquidity. Fee schedules can differ between spot, margin, and perpetual futures, so verify the current rates on the official fee page before placing large orders.

Deposit, Withdrawal, Gas Fee, and Transaction Fee

Crypto deposits are typically free, but each blockchain may require a minimum transaction size and a set number of confirmations before funds are credited. Withdrawal fees vary by token and network and are usually set to cover the network’s gas fee. If a token supports multiple networks, withdrawing on the most cost-effective chain can reduce transaction fees, but you must ensure the destination wallet supports that network to avoid lost funds. Fiat on-ramps, where supported via partners, may charge additional fees determined by the payment provider. Always check the live withdrawal table in the account wallet for current transaction fee values and minimums.

Minimum Transaction Size

AscendEX defines minimum order sizes and withdrawal minimums for each asset. These constraints help the matching engine maintain efficient order processing and prevent dust outputs. Review the minimum lot size in the trading interface before submitting an order to avoid errors and keep orders aligned with your strategy. For very small balances, consolidating assets or using the convert tools can help tidy your wallet.

Security, Custody, and Past Incidents

Account Security: Two Factor Authentication and Whitelisting

User-level security begins with two factor authentication, unique passwords, and up-to-date device security. Enable withdrawal address whitelisting, set anti-phishing codes, and review active sessions regularly. For institutional accounts, consider IP whitelisting and API key permissions segmented by function. These controls reduce the chance of unauthorized transactions and strengthen your overall security posture on the platform.

Custody Approach and Regulated Custodian Partners

Centralized exchanges commonly use a mix of cold storage and hot wallets to balance security and operational efficiency. Some exchanges also work with a regulated custodian for specific services, and in the broader industry you may see names such as Prime Trust mentioned. The precise custody setup for each asset can vary over time and by jurisdiction. As with any exchange, users should assess counterparty risk and avoid storing more funds on a trading platform than needed for active strategies, especially if you rely on the exchange for business purposes or large transactions.

Incident History, Affected Users, and Risk Disclosure

The crypto industry as a whole has seen periodic breaches, and AscendEX has reported security incidents in the past related to hot wallets. The company publicly stated its intention to make affected users whole and strengthen security controls after such events. It is important to evaluate how any cryptocurrency exchange responds to incidents: transparency, speed of communication, compensation for affected users, and the long-term improvements in security and operations. While a prior breach can contribute to a bad reputation among some traders, other users may view meaningful remediation steps, open communication, and controls like withdrawal address whitelisting and third-party audits as indications of a legitimate and improving platform.

Deposits, Withdrawals, and Supported Assets

Supported Crypto Assets and Networks

AscendEX lists a wide range of crypto assets and supports multiple networks for popular tokens where applicable. For example, stablecoins may be available on Ethereum, Tron, and other chains. When depositing, always verify you are selecting the correct network to match the origin wallet. Sending funds on the wrong chain can lead to irreversible loss. Check the number of required confirmations for each deposit and review any temporary maintenance notices for wallets before initiating transactions.

Selling Crypto and Fiat Options

To sell crypto, use the spot trading interface to convert assets into stablecoins and, if available in your region, fiat gateways that exchange stablecoins for cash via third-party providers. Conversion fees and timing will depend on the payment rails you choose. Over the counter options can help with larger conversions, minimizing slippage and transaction cost. Traders should factor in the fee structure, spread, and potential gas fee if moving assets across chains before selling crypto.

Withdrawals and Processing Times

Withdrawals are initiated from the wallet section inside your account. Security checks include two factor authentication and, if enabled, confirmation to a whitelisted address. Processing times depend on internal risk checks and the blockchain’s current congestion. During volatile market conditions, withdrawal queues can lengthen. If you are running a business and require predictable settlement, consider planning ahead and using networks with faster finality to reduce delays. Some assets have higher transaction fees or longer confirmation times, which can affect net proceeds and speed to destination.

Derivatives, Leverage, and Risk

How Leverage Works on Perpetual Futures

Perpetual futures allow synthetic exposure to crypto tokens without owning the underlying assets. Leverage enables larger positions using a fraction of the capital. Funding payments exchange between long and short positions periodically to keep the contract price near the spot index. While leverage can boost returns, it simultaneously amplifies losses and can trigger liquidations if the market moves against you. Use isolated margin to contain risk to a single position and avoid cross-exposure across your entire account when volatility spikes.

Managing Risk in Different Market Conditions

Markets can gap during news events, and thin liquidity in low market cap tokens can increase slippage and liquidation risk. AscendEX provides risk controls such as maintenance margin thresholds, forced deleveraging, and position size caps. To reduce stress, define your maximum drawdown, set stop-loss orders, and avoid adding to losing positions without a clear plan. Copy trading does not remove the need for risk management; always monitor your exposure even if you are following another trader’s strategy.

How AscendEX Compares to Other Exchanges

Liquidity, Fees, and Product Breadth

Compared to other exchanges like Binance, Bybit, OKX, Kraken, and Coinbase, AscendEX focuses on a mix of spot trading, margin, and perpetual futures with competitive maker-taker fees, especially when users leverage ASD token staking for reduced trading fees. The coin listing strategy often includes mid-cap and smaller crypto tokens, giving traders access to assets not always available on U.S.-centric platforms. Liquidity on majors is solid, while long-tail coins can be more variable.

Security and Reputation

Security is a constant arms race across centralized cryptocurrency exchanges. Some platforms employ regulated custodians, real-time proof-of-reserves attestations, and bug bounty programs. AscendEX communicates security enhancements and provides two factor authentication, withdrawal whitelisting, and event-based alerts. Users must weigh the platform’s incident history, response to affected users, and ongoing transparency when deciding where to store funds. Diversifying across platforms, or holding long-term assets in self-custody, can be prudent risk management.

User Experience and Tools

AscendEX offers a user friendly interface and various features like copy trading, yield opportunities, and a robust API. When evaluating ease of use, consider your personal workflow, preferred order types, and whether the mobile app has all the functions you need. Professional traders may care more about latency, detailed account statements, and advanced order routing, while beginners might prioritize simple buy and sell flows and in-app education.

Customer Support, Education, and Communication

Support Channels

AscendEX provides a help center, ticket-based support, and official social channels for announcements. Typically, users can submit a message via the support portal for account issues, KYC verification questions, and transaction clarifications. Response times may vary during periods of heavy traffic, product launches, or turbulent market conditions. Maintaining clear ticket details and including transaction IDs can help the support team resolve cases faster.

Learning Resources and Risk Warnings

Quality documentation is essential for a good exchange. AscendEX publishes guides on futures trading, margin mechanics, fee structure, copy trading settings, and Earn terms. This content helps users verify how features work and understand associated risks. Before using leverage or high-yield products, read the documentation carefully and model your potential PnL under different market conditions. It is better to take small positions until you fully understand liquidation thresholds, funding payments, and fee implications.

Who Should Use AscendEX?

Beginners and Active Traders

AscendEX is positioned for both newcomers and experienced traders. Beginners can focus on spot trading of high-liquidity pairs and potentially explore Earn for passive income on staked assets, while experienced traders may gravitate toward margin trading, perpetual futures, and the copy trading feature. The user friendly platform and smartphone app lower the barrier to entry, but all users should consider their risk tolerance and only invest money they can afford to lose.

Investors Seeking a Broad Asset Menu

If you are looking for exposure to a wide array of crypto assets and want to combine trading with staking or yield farming, AscendEX’s listing approach and Earn programs can be appealing. However, breadth can introduce complexity. Make sure to research each token’s fundamentals, market cap, liquidity, and transaction fee patterns across networks, especially when interacting with DeFi protocols.

Pros and Cons

Pros: Wide range of trading pairs, perpetual futures, margin trading, and copy trading on a user friendly interface.
Pros: Reduced trading fees through ASD token and volume-based VIP tiers; competitive maker-taker pricing for active users.
Pros: Multiple yield opportunities for passive income via staking and Earn, with periodic campaigns and flexible terms.
Pros: Clear wallet interface, exportable trading history, and options for over the counter transactions for large orders.
Cons: Past security incident history requires careful review; users should evaluate how the company handled affected users.
Cons: Liquidity can be variable on long-tail assets; slippage may occur on smaller market cap tokens.
Cons: Geo-restrictions can limit access to futures and margin in some jurisdictions, including the USA.
Cons: Earn products introduce counterparty and protocol risk; yields can change under different market conditions.

How to Start Trading on AscendEX

Step 1: Create an Account

Register with your email or mobile number and set a strong password. Immediately enable two factor authentication in the security settings and configure withdrawal address whitelisting to protect funds.

Step 2: Complete KYC Verification

Upload the requested identity documents and follow the verification prompts. KYC verification unlocks higher withdrawal limits and may be required for futures trading or specific Earn products. Processing times vary by region and workload.

Step 3: Deposit Funds

Navigate to your wallet and choose the asset you want to deposit. Select the correct network, copy the address, and test with a small transaction first to ensure everything is configured correctly. Confirmations and credit times depend on the network.

Step 4: Place Your First Trade

Open the spot trading page, select a trading pair, and submit a market or limit order. Check the fee structure, minimum lot size, and current spread. For margin or perpetual futures, start with small size and review risk parameters such as leverage, maintenance margin, and liquidation price.

Step 5: Explore Copy Trading and Earn

If you want to diversify, review strategy leaders and performance data for copy trading. For Earn, compare APYs, lock-up requirements, and redemption rules. Remember that higher yield often signals higher risk.

Step 6: Withdraw Funds Securely

When you are ready to withdraw, ensure your destination wallet supports the chosen network. Verify the transaction fee and network conditions, then confirm with two factor authentication. For business operations or large amounts, consider splitting withdrawals to manage risk.

Is AscendEX Legitimate and Safe?

Legitimacy for a cryptocurrency exchange comes from transparent operations, clear fee disclosures, robust security, and consistent customer support. AscendEX operates as a centralized cryptocurrency exchange with standard KYC verification and layered account protections. While the platform has experienced past security incidents, it has also communicated remediation steps and security enhancements. Whether this is a good exchange for you depends on your risk tolerance, use case, and preference for specific features like copy trading, perpetual futures, or staking. Always keep long-term holdings in wallets you control when feasible, and use exchanges primarily for trading, liquidity access, and conversions.

Conclusion

AscendEX delivers a comprehensive suite of crypto trading tools, including spot trading, margin trading, and perpetual futures, all wrapped in a user friendly platform that caters to both beginners and power users. With an expansive asset selection, incentives for reduced trading fees through the ASD token, and additional services like copy trading and Earn, the exchange tries to meet diverse user needs. Users should still weigh custody risk, fee details, and personal jurisdictional constraints, especially if they reside in regions with stricter rules. As always, start small, verify program details, and rely on security best practices such as two factor authentication and whitelisting to protect your funds.

Frequently Asked Questions

Which country is AscendEX from?

AscendEX launched in 2018 under the BitMax brand and operates as a global cryptocurrency exchange with international user coverage. The company has had operational ties to Asia, including Singapore, and employs a distributed team across multiple regions. Because the exchange serves a worldwide audience and compliance varies by jurisdiction, users should review the latest company disclosures and Terms of Service for the most current corporate entity and regional availability details.

Does AscendEX work in the USA?

Access for U.S. persons is restricted. As with many centralized cryptocurrency exchanges, U.S. residents typically cannot use derivatives like perpetual futures and may also be restricted from other services. AscendEX’s Terms of Service outline specific geo-restrictions, and KYC verification enforces them. If you reside in the USA, confirm your eligibility directly on the platform before attempting to deposit or trade.

How much can you withdraw from AscendEX?

Withdrawal limits depend on your KYC verification level, account tier, and sometimes the specific asset. Non-verified accounts often have very limited or no withdrawal access, while fully verified accounts can withdraw higher amounts subject to risk checks. Each token has its own minimum withdrawal and transaction fee, and network conditions can affect processing time. You can view your personalized limits and live fees in the wallet section of your AscendEX account.

What is AscendEX exchange?

AscendEX is a centralized cryptocurrency exchange that offers spot trading, margin trading, and perpetual futures, as well as a copy trading feature and Earn programs for passive income on staked assets. The platform focuses on a user friendly interface, competitive fee structure with reduced trading fees via the ASD token, and a broad range of crypto assets. It includes security features like two factor authentication, address whitelisting, and compliance controls through KYC verification. As with any exchange, users should assess the platform’s security, fees, liquidity, and regional availability before trading.