AscendEX, formerly known as BitMax, rebranded and officially launched on March 22, 2021, positioning itself as a competitive player in the global cryptocurrency exchange landscape. Headquartered in Singapore, the platform has steadily built a reputation for offering a robust trading environment with support for over 190 trading pairs and 40 margin trading options. Whether you're trading major cryptocurrencies like Bitcoin and Ethereum or exploring emerging altcoins, AscendEX provides a diverse and accessible marketplace for digital asset enthusiasts.
The leadership team behind AscendEX brings deep expertise from traditional finance and asset management sectors. George Cao serves as Co-founder and CEO, Ariel Ling as Co-founder and COO, and Shane Molidor leads global business development. Their combined experience in banking and financial markets contributes to a platform designed with both institutional precision and retail accessibility in mind.
Trading Interface: Desktop vs. Mobile Experience
For many active traders, the desktop interface remains the preferred choice due to larger screen real estate, which allows simultaneous viewing of price charts, order books, trade history, and open positions. AscendEX delivers a clean, intuitive desktop trading interface that includes all essential components: real-time price charts, depth graphs, buy/sell order panels, and customizable layouts.
However, not everyone trades from a desk. Mobile trading has grown in popularity, especially among users who want to monitor markets on the go. AscendEX meets this demand with dedicated apps for both iOS and Android devices. These mobile applications mirror the core functionality of the desktop version, enabling users to place trades, manage portfolios, and access margin features seamlessly from their smartphones.
👉 Discover a seamless mobile trading experience designed for fast execution and real-time insights.
Leveraged Trading: High Risk, High Reward
One of AscendEX’s standout features is its leveraged trading offering. Traders can borrow funds from the platform to amplify their positions—potentially increasing profits, but also magnifying losses. Interest rates for borrowing vary by asset and market conditions but can be as low as 3.65% annually (0.01% daily).
Let’s illustrate how leverage works:
Imagine you have $10,000 in your account and decide to go long on Bitcoin with $100 at 100x leverage. This means you control a $10,000 position with just $100 of your own capital.
- If Bitcoin's price increases by 10%, your profit would be **$1,000**—a 990% return on your initial $100.
- Conversely, if Bitcoin drops by 10%, you’d lose $1,000, wiping out nearly 10% of your total account balance.
This example underscores the double-edged nature of leverage. While it can significantly boost gains, it also exposes traders to substantial risk—especially during volatile market swings. As such, AscendEX encourages responsible use of margin tools and offers risk management features like stop-loss orders and liquidation warnings.
Trading Fees: Competitive Rates Across Tiers
AscendEX employs a tiered fee structure based on user trading volume and VIP level. At the base level (VIP 0), trading fees start at:
- 0.10% for makers and takers on large-cap assets (e.g., BTC, ETH)
- 0.20% for altcoins
Higher-tier users (VIP 1–VIP 5) enjoy progressively lower fees, incentivizing increased trading activity. This model aligns with industry trends where high-volume traders receive preferential rates.
Compared to the historical industry average of 0.25%, AscendEX’s pricing is highly competitive. Even among modern exchanges that have dropped fees to the 0.05%–0.15% range, AscendEX remains firmly within the attractive bracket—particularly for active traders aiming to reduce cumulative costs over time.
Additionally, the platform distinguishes between maker and taker fees:
- Makers add liquidity by placing limit orders that don’t immediately fill.
- Takers remove liquidity by executing market orders or filling existing limit orders.
This distinction rewards users who contribute to market depth, promoting healthier order book dynamics.
Withdrawal Fees: Low Costs for Major Coins
Another critical factor in choosing an exchange is withdrawal cost. AscendEX charges a flat fee per cryptocurrency withdrawal, which varies by asset.
For example:
- Bitcoin (BTC): 0.0005 BTC per withdrawal
- This is below the global average of approximately 0.0008 BTC
Low withdrawal fees are particularly beneficial for frequent traders or those moving assets between wallets or exchanges. By keeping these costs minimal, AscendEX enhances overall trading efficiency and user satisfaction.
Instant Crypto Purchases via Credit/Debit Card
AscendEX partners with Simplex, an EU-licensed payment processor, to enable instant cryptocurrency purchases using Visa and Mastercard. This integration simplifies onboarding for new users who want to buy crypto without navigating bank transfers or peer-to-peer platforms.
Key details about this service:
- Minimum purchase: $50 USD
- Processing time: Typically 10–30 minutes
- Service fee: 3.5% of the transaction amount
While the fee is higher than traditional deposit methods, the speed and convenience make it ideal for users seeking immediate exposure to digital assets.
👉 Start trading instantly with fast fiat-to-crypto onboarding—no waiting required.
Is AscendEX Available in the United States?
No. Like many international exchanges, AscendEX does not accept U.S. residents due to regulatory restrictions imposed by the Securities and Exchange Commission (SEC).
The SEC requires foreign financial platforms to register if they wish to serve American investors—a complex and costly process. Failure to comply can result in legal action, as seen in cases involving EtherDelta, Bitfinex, and allegations around Tether (USDT) misleading investors.
As a result, AscendEX restricts access to U.S.-based IP addresses and does not support KYC verification for American citizens. Traders located in the U.S. should explore domestic alternatives that comply with federal regulations.
Frequently Asked Questions (FAQ)
Q: When did AscendEX launch?
A: AscendEX launched on March 22, 2021, following a rebrand from BitMax.
Q: Does AscendEX support margin trading?
A: Yes, AscendEX offers leveraged trading with up to 100x leverage on select pairs and over 40 margin trading options.
Q: What are the trading fees on AscendEX?
A: Base fees start at 0.10% for major coins and 0.20% for altcoins, decreasing with higher VIP tiers based on trading volume.
Q: Can I use a credit card to buy crypto on AscendEX?
A: Yes, through its partnership with Simplex, users can purchase crypto instantly using Visa or Mastercard with a 3.5% service fee.
Q: Is there a mobile app for AscendEX?
A: Yes, AscendEX offers fully functional mobile apps for both iOS and Android devices.
Q: Why doesn’t AscendEX allow U.S. users?
A: Due to strict U.S. financial regulations enforced by the SEC, AscendEX does not permit account registration or trading by U.S. residents.
Final Thoughts
AscendEX stands out as a technically sound and user-focused exchange that balances innovation with reliability. Its competitive fee structure, strong security foundation, and advanced trading tools—including leveraged positions and mobile accessibility—make it a compelling option for non-U.S. traders.
Whether you're a beginner looking for an intuitive platform or an experienced trader seeking low fees and high leverage, AscendEX delivers a well-rounded experience. Just remember: while powerful tools like margin trading can enhance returns, they require discipline and risk awareness.
👉 Maximize your trading potential with advanced tools built for performance and precision.
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