No Regulation

Score

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/10

AscendEX

China

|

2-5 years

Suspicious Regulatory License|

Medium potential risk

https://ascendex.com/en/

Website

Rating Index
Contact
AscendEX
support@ascendex.com
https://ascendex.com/zh-cn/global-digital-asset-platform
Influence
E

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

Exchange Info

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Company Name
AscendEX
Phone of the company
--
Customer Service Email Address
support@ascendex.com

WikiBit Risk Alerts

1
Previous Detection 2024-04-25

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

Website

Genealogy

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Keywords

Time Machine

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User Reviews

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3 ratings

Participate in evaluation
Rfiguero
My account was blocked when I wanted to withdraw funds, I have a balance of 74,400 USDT
2023-08-16 04:16
3
Hr Strange
This is the worst exchange I have used, it is very limited.
2023-09-07 12:40
2
FX1082241487
AscendEX provides high liquidity and a variety of cryptocurrencies for trading, which is great! However, their customer service response is very slow, I hope it can be improved.
2023-11-08 23:31
8
Aspect Information
Company Name AscendEX
Registered Country/Area China
Founded year 2018
Regulatory Authority No regulation
Cryptocurrencies Available 300+
Fees Maker fee: 0.1%; Taker fee: 0.2%
Payment Methods Cryptocurrencies (BTC, ETH, etc.)
Customer Support 24/7 customer support through email and live chat

Overview of AscendEX

AscendEX, also known as BitMax, is a virtual currency exchange platform that was established in 2018. Headquartered in the China, AscendEX currently has no valid regulations.

With a wide range of over 300 cryptocurrencies available, AscendEX provides users with ample options for trading and investment. The platform offers various payment methods, primarily focusing on cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

In terms of fees, AscendEX's trading fees vary depending on the type of transaction and the user's tier level. The trading fees typically range from 0.1% to 0.03%, providing users with competitive rates for their transactions.

AscendEX prides itself on its customer support, offering assistance 24/7 through email and live chat. This ensures that users can seek help and resolve any issues they may encounter in a timely manner.

Overview of AscendEX

Pros and Cons

Pros Cons
Wide range of over 300 cryptocurrencies available Fees vary depending on transaction type and user's tier level
Competitive trading fees ranging from 0.1% to 0.03% Trading fees can be higher for certain transactions
24/7 customer support through email and live chat Primary payment method is limited to cryptocurrencies
Lack of valid regulations

Pros:

- Wide range of over 300 cryptocurrencies available: AscendEX offers a diverse selection of cryptocurrencies for users to trade and invest in. This provides users with ample opportunities to explore different coins and diversify their portfolios.

- Competitive trading fees ranging from 0.1% to 0.03%: AscendEX offers competitive trading fees, allowing users to minimize costs and maximize their returns. The fee structure is tailored to different transaction types and user tier levels, providing flexibility and affordability.

- 24/7 customer support through email and live chat: AscendEX prioritizes customer support, offering round-the-clock assistance through email and live chat. This ensures that users can receive timely help and have their queries or issues resolved promptly.

Cons:

- Fees vary depending on transaction type and user's tier level: AscendEX's fee structure can be complex, with varying fees depending on the specific transaction and the user's tier level. This results in higher fees for certain types of transactions, which users should consider when planning their trading strategies.

- Trading fees can be higher for certain transactions: While AscendEX offers competitive trading fees overall, fees are higher for certain transactions.

- Primary payment method is limited to cryptocurrencies: AscendEX primarily supports cryptocurrency payments, which limits accessibility for users who prefer other payment methods.

- Lack of valid regulations: AscendEX's activities and operations cannot be held to the exacting standards and safeguards that regulatory bodies frequently impose in the absence of such regulation, which can give rise to worries about investor protection, risk management, and the overall stability of the financial ecosystem.

Regulatory Authority

AscendEX has no valid regulations. Without regulatory supervision, there is a higher risk of fraud, security breaches, and market manipulation. Additionally, unregulated exchanges lack proper mechanisms for dispute resolution and customer support, leaving users vulnerable to issues and challenges. Besides, the lack of regulatory oversight makes it easier for market manipulation to occur on unregulated exchanges. This could involve pump-and-dump schemes, wash trading, or other tactics aimed at artificially inflating or deflating the price of cryptocurrencies.

Security

AscendEX prioritizes security measures to protect user funds and data. The platform employs several protection measures, including two-factor authentication (2FA), cold storage for funds, and regular security audits. Two-factor authentication adds an extra layer of security by requiring users to provide a second form of verification, such as a unique code sent to their mobile device or email, in addition to their password.

Cold storage refers to the practice of storing the majority of user funds in offline, inaccessible wallets. By keeping funds offline, AscendEX minimizes the risk of them being compromised by hackers or unauthorized access.

In addition to these measures, AscendEX conducts regular security audits to identify and address any vulnerabilities in its systems. These audits help ensure that the platform remains secure and protected against potential threats.

Cryptocurrencies Available

AscendEX offers a wide range of over 300 cryptocurrencies for trading and investment. Users can access popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and many more. This diverse selection allows users to explore different coins and diversify their portfolios based on their investment strategies and preferences.

In addition to cryptocurrency trading, AscendEX also provides other products and services. The platform offers various trading options, including spot trading, margin trading, and futures trading. Spot trading allows users to buy and sell cryptocurrencies at the current market price, while margin trading enables users to trade with borrowed funds to potentially amplify their profits or losses. Futures trading allows users to trade cryptocurrency contracts with predetermined expiry dates, providing additional opportunities for speculation and hedging.

Furthermore, AscendEX also offers features such as staking and earning rewards on certain cryptocurrencies. Staking allows users to earn additional rewards by holding and supporting specific cryptocurrencies, while earning rewards programs provide incentives for users to engage in trading activities on the platform.

Cryptocurrencies Available

Payment Methods

AscendEX primarily supports cryptocurrency payments, allowing users to deposit and withdraw funds using various cryptocurrencies. Users can utilize popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others to fund their accounts and make transactions on the platform.

The processing time for deposits and withdrawals on AscendEX can vary depending on the specific cryptocurrency and network congestion. Generally, deposits can be credited to the user's account within a few minutes to a few hours, depending on the confirmation time required by the respective blockchain network. Withdrawals are typically processed within a similar timeframe, but additional time may be required for manual verification and security checks.

Trading Markets

# Coin Pair Price +2% Depth -2% Depth 24h Volume Volume %
1 Bitcoin BTC/USDT $64,725.98 $3,433,715 $3,812,329 $71,973,907 31.78%
2 Ethereum ETH/USDT $3,370.94 $2,341,435 $1,236,756 $24,724,087 10.92%
3 XRP XRP/USDT $0.62 $45,765 $71,643 $4,638,601 2.05%
4 AscendEx ASD/USDT $0.07 $66 $6,517 $2,195,220 0.97%
5 XRP XRP/BTC $0.63 $3,328 $4,033 $1,852,109 0.82%
6 Chainlink LINK/BTC $18.32 $13,921 $14,436 $1,549,915 0.68%
7 BNB BNB/BTC $558.50 $34,882 $36,151 $1,538,998 0.68%
8 Kava KAVA/BTC $0.92 $3,493 $7,229 $1,411,592 0.62%
9 Tezos XTZ/BTC $1.25 $1,188 $1,888 $1,409,844 0.62%
10 Dogecoin DOGE/BTC $0.16 $228 $1,024 $1,381,942 0.61%

Fees

Service Fees
Spot trading Maker fee: 0.1%; Taker fee: 0.2%
Margin trading Maker fee: 0.07%; Taker fee: 0.15%
Deposit fees No fees for cryptocurrencies; 10% for fiat currencies (except USDT); 3.5% for USDT
Withdrawal fees Varies depending on the cryptocurrency

AscendEX App

AscendEX, formerly known as BitMax, offers a mobile application called the AscendEX App. This app provides users with a convenient and user-friendly platform to access AscendEX's cryptocurrency exchange services on the go.

Trading: The AscendEX App allows users to trade a wide range of cryptocurrencies directly from their mobile devices. Users can buy, sell, and trade various digital assets, including popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as numerous altcoins.

Order Book: Users can view real-time order book data, including buy and sell orders, market depth, and trading volume, to make informed trading decisions.

Charting Tools: The app provides advanced charting tools and technical analysis indicators to help users analyze price trends, identify trading opportunities, and execute trades with precision.

Portfolio Management: Users can manage their cryptocurrency portfolio directly within the app, track their holdings, monitor their account balances, and view transaction history.

News and Updates: Users can stay informed about the latest cryptocurrency news, market updates, and announcements directly within the app, keeping them up to date with developments in the crypto space.

User-Friendly Interface: The AscendEX App features a user-friendly interface designed for ease of use and intuitive navigation, making it accessible to both beginner and experienced traders.

AscendEX App

Is AscendEX a Good Exchange for You?

AscendEX can be considered the best exchange for its extensive selection of altcoin trading pairs and high liquidity, providing users with ample opportunities for trading and liquidity for their chosen assets.

When it comes to trading groups suitable for AscendEX, there are a few key factors to consider. AscendEX offers a wide range of cryptocurrencies for trading, making it a suitable platform for both experienced traders and newcomers to the cryptocurrency market.

For experienced traders, AscendEX provides advanced trading features such as margin trading and futures trading. These features allow experienced traders to leverage their positions and potentially amplify their profits or losses. The platform also offers trading tools and indicators that can help experienced traders perform technical analysis and make informed trading decisions.

For newcomers to the cryptocurrency market, AscendEX offers a user-friendly interface and a diverse selection of cryptocurrencies. This allows newcomers to explore different coins and diversify their portfolios based on their investment strategies and preferences. The platform also provides educational resources and tutorials to assist newcomers in understanding the basics of cryptocurrency trading.

FAQs

Q: What are the available trading options on AscendEX?

A: AscendEX offers spot trading, margin trading, and futures trading options for users to choose from.

Q: Does AscendEX provide customer support for users?

A: Yes, AscendEX provides customer support through various channels such as live chat and email (support@ascendex.com).

Q: Are there any fees associated with trading on AscendEX?

A: Yes, trading fees range from 0.1% to 0.03%.

Q: Does AscendEX have a mobile app?

A: Yes, AscendEX offers a mobile app for both iOS and Android devices, allowing users to trade on the go.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.