Cryptocurrency traders seeking a platform with competitive fees, diverse trading options, and innovative earning mechanisms may find AscendEX worth exploring. Originally launched in 2018 under the name BitMax, AscendEX has evolved into a global crypto exchange offering spot, margin, and futures trading, along with staking, DeFi yield farming, and a unique copy trading feature.
With headquarters in Singapore and over 1 million active users, AscendEX supports more than 200 cryptocurrencies and 300 trading pairs, making it a solid choice for intermediate to advanced traders. This review dives deep into its functionality, security measures, fee structure, and standout tools — helping you determine if AscendEX aligns with your trading goals.
Key Features of AscendEX
AscendEX is designed for both beginners and experienced traders, offering a dual interface: a simplified "buy crypto" section and an advanced trading terminal powered by TradingView. The platform emphasizes low fees, fast execution, and multiple ways to earn passive income from digital assets.
✅ Supported Cryptocurrencies & Trading Pairs
AscendEX lists over 200 cryptocurrencies, including major players like:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP (XRP)
- Polkadot (DOT)
- Dogecoin (DOGE)
- ApeCoin (APE)
It also supports popular stablecoins such as USDT and USDC, enabling traders to hedge volatility during turbulent markets. However, some notable absences include BUSD, SAND (The Sandbox), and GMT (STEPN) — which may push users toward exchanges like Binance or KuCoin for broader altcoin access.
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✅ Advanced Trading Tools
The AscendEX trading interface integrates hundreds of technical indicators via TradingView, giving users full control over chart analysis. Traders can apply:
- Moving Averages
- Bollinger Bands
- RSI (Relative Strength Index)
- MACD
- Volume profiles
- Average True Range (ATR)
Multiple order types are available — including market, limit, stop-loss — and the platform supports spot, margin (up to 25x leverage), and futures trading (up to 100x leverage).
Leveraged tokens (3x and 5x long/short) allow exposure to amplified price movements without managing margin manually — ideal for short-term speculative strategies.
Unique Platform Offerings
🔁 Copy Trading: Mirror Top Performers
One of AscendEX’s most distinctive features is its Copy Trading system, allowing users to automatically replicate trades made by successful traders on the platform.
Key details:
- Monthly subscription fees range from $5 to $100, paid in USDT.
- Trades execute instantly when the leader places them.
- Users can scale positions up to 500x their own balance.
- A 5-day free trial lets newcomers test strategies risk-free.
While convenient, this feature is limited to perpetual futures contracts, introducing higher risk due to leverage. Compared to free social trading platforms like eToro, AscendEX’s model rewards top traders financially but adds cost for followers.
📈 Crypto Staking with Flexibility
AscendEX offers staking across select cryptocurrencies, with APYs ranging from 1.0% to over 100%, depending on the asset. What sets it apart?
- Instant withdrawal: No lock-up periods; staked assets can be withdrawn anytime.
- Use as collateral: Staked coins can back margin or futures positions — a rare and powerful flexibility.
- Regular payouts based on network schedules.
Though the number of stakable assets is smaller than on leaders like Coinbase or Kraken, this liquidity-friendly approach benefits active traders who want yield without sacrificing agility.
🌱 DeFi Yield Farming Made Simple
For those interested in decentralized finance (DeFi), AscendEX simplifies yield farming by handling backend protocol integrations. Users deposit funds into curated DeFi strategies — such as lending pools or liquidity provision — and earn interest directly through the platform.
Benefits:
- No gas fees
- No need for wallet connectivity
- No token lockups
- Withdraw anytime
This removes complexity while maintaining high yields — perfect for users wary of navigating complex DeFi interfaces.
Security & Risk Management
🔒 Cold Storage & Insurance Fund
AscendEX claims that the majority of user funds are stored offline in cold wallets, protected by multi-signature technology and strict access controls. While exact details about geographic distribution or third-party custodians aren't fully disclosed, the platform maintains an insurance fund to cover potential losses.
This fund was activated in December 2021, when AscendEX suffered a hack resulting in $70 million lost from a hot wallet. Despite the breach, no user funds were affected, thanks to prompt reimbursement from the insurance reserve.
“Even after a significant security incident, AscendEX demonstrated responsibility by fully compensating users — a strong indicator of platform reliability.”
However, past breaches should prompt caution. Always use two-factor authentication (2FA) and avoid keeping large sums on any exchange long-term.
👉 Learn how leading platforms protect your digital assets today.
Account Verification & Access
AscendEX does not require KYC verification to begin trading — a plus for privacy-focused users. However, unverified accounts face limitations:
| Feature | Unverified Account | Verified Account |
|---|---|---|
| Daily Withdrawal Limit | 2 BTC | 100 BTC |
| Access to Margin/Futures | ❌ Not available | ✅ Full access |
| Copy Trading | ❌ Restricted | ✅ Available |
To verify:
- Register via email
- Submit government ID (e.g., driver’s license)
- Provide a selfie for facial recognition
Verification is typically processed instantly upon submission.
Funding Options & Fees
💸 Deposits & Withdrawals
- Fiat deposits: Not directly supported. Users must use third-party providers (e.g., MoonPay, Simplex) through the “Buy Crypto” feature.
- Crypto deposits: Free, with minimums varying by coin.
- Withdrawals: Subject to network fees; minimums and limits vary by cryptocurrency.
Third-party fiat purchases incur additional fees — often higher than direct bank transfers on platforms like Kraken or Gemini.
💰 Competitive Trading Fees
AscendEX uses a tiered maker-taker model with volume-based discounts:
| 30-Day Volume (USDT) | ASD Held | Large-Cap Fee | Altcoin Fee |
|---|---|---|---|
| ≥ $0 | Any | 0.1000% / 0.1000% | 0.2000% / 0.2000% |
| ≥ $1M | ≥ 20,000 | 0.075% / 0.085% | 0.16% / 0.18% |
| ≥ $5M | ≥ 100,000 | 0.06% / 0.07% | 0.13% / 0.15% |
Holding the native ASD token unlocks further discounts — up to 80% off trading fees for holders of 1.5 million+ ASD.
Compared to competitors:
| Exchange | Standard Spot Fee | Token Discount? |
|---|---|---|
| AscendEX | 0.1% | Yes |
| Binance | 0.1% | Yes |
| Huobi | 0.2% | Yes |
| Coinbase Pro | 0.5% | No |
| Gemini | 0.5% | No |
AscendEX ranks among the most cost-effective platforms for active traders.
Mobile Experience
The AscendEX mobile app (iOS and Android) mirrors most web functionalities:
- Buy/sell crypto
- Advanced charting
- Margin & futures trading
- Staking and DeFi participation
- Account verification
With over 500,000 downloads on Android and a 4.0-star rating from 4,000+ reviews, the app performs well overall. However, some users report delays in customer support responses and occasional KYC processing issues.
FAQ: Common Questions About AscendEX
Q: Is AscendEX safe to use?
A: Yes, despite a major hack in 2021, AscendEX reimbursed all user losses using its insurance fund. Most funds are stored offline, and strong security protocols are in place.
Q: Does AscendEX support fiat deposits?
A: Not directly. You can buy crypto using fiat through third-party partners like MoonPay or Simplex within the platform.
Q: Can I trade futures on AscendEX?
A: Yes. The platform offers perpetual futures contracts with up to 100x leverage, suitable for experienced traders.
Q: What is the Copy Trading fee?
A: Subscriptions cost between $5 and $100 per month in USDT. A 5-day free trial is available.
Q: Is KYC required on AscendEX?
A: No, but unverified accounts have lower withdrawal limits and no access to advanced features.
Q: How do I reduce trading fees?
A: Increase your monthly trading volume or hold ASD tokens — both unlock significant fee reductions.
Final Verdict: Who Should Use AscendEX?
AscendEX shines for:
- Traders seeking low fees and high leverage
- Users wanting flexible staking with instant withdrawals
- Those interested in automated copy trading
- International users outside the U.S.
It falls short in:
- Fiat onboarding options
- Limited selection of top altcoins
- Past security incidents (though well-managed)
While not ideal for beginners due to complex features, AscendEX delivers strong value for intermediate to advanced crypto traders focused on performance, cost efficiency, and diversified earning methods.
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