Is AscendEX a formal trading platform?

AscendEX, a reputable cryptocurrency exchange, boasts a user-friendly interface, robust security measures, and competitive trading fees, catering to both retail and institutional traders.

Nov 23, 2024 at 09:38 am

Understanding AscendEX: A Comprehensive Overview

Introduction

AscendEX, formerly known as BitMax, is a cryptocurrency exchange platform that caters to both retail and institutional traders. With its user-friendly interface, advanced trading tools, and robust security measures, AscendEX has gained popularity among blockchain enthusiasts. This article aims to provide a comprehensive overview of AscendEX, addressing key questions about its legitimacy, features, fees, and overall standing in the blockchain industry.

Legitimacy of AscendEX

AscendEX operates as a legal entity under the name AscendEX Technology (Singapore) Pte. Ltd. The company is registered in Singapore and complies with local regulations. It has also obtained regulatory licenses in various jurisdictions, including the United States (Money Services Business license) and Canada (MSB license).

AscendEX employs industry-standard security protocols, including SSL encryption, two-factor authentication, and cold storage for most user funds. The platform undergoes regular audits by independent security firms to ensure the safety of user assets.

Features of AscendEX

AscendEX offers a wide range of trading features to meet the needs of different traders, including:

• Spot Trading: AscendEX supports the trading of various cryptocurrencies against fiat currencies or other cryptocurrencies. The platform bietet competitive spot trading fees.
• Margin Trading: Traders can amplify their positions by up to 5x leverage using margin trading on AscendEX. Leverage trading carries higher risks, so it is essential to manage risk effectively.
• Futures Trading: AscendEX offers perpetual futures contracts with up to 100x leverage. Futures trading involves leveraged contracts, so cautious risk management is crucial.
• Copy Trading: AscendEX allows users to copy the trading strategies of experienced traders. This feature makes it accessible for novice traders to gain prof
• Staking and Lending: AscendEX provides opportunities for users to earn passive income by staking their crypto assets or lending them to others through its Staking and Lending products.

Fees on AscendEX

AscendEX's trading fees vary depending on the type of order and the trading pair. However, the platform generally offers competitive fees compared to other major exchanges.

• Spot Trading: AscendEX charges a flat 0.1% trading fee for both makers and takers, regardless of the trading volume.
• Margin Trading: Margin trading fees on AscendEX are charged on a tiered basis. The higher the trading volume, the lower the fee rate.
• Futures Trading: Futures trading fees are also charged on a tiered basis based on trading volume. The fee structure for futures trading is designed to encourage market making and liquidity on the platform.
• Staking and Lending: AscendEX does not charge fees for staking or lending crypto assets. However, third-party providers may charge fees for their services.

Ranking of AscendEX

AscendEX is ranked among the top 20 cryptocurrency exchanges by trading volume and liquidity.

*By Trading Volume:

• CoinMarketCap: 17th
• CoinGecko: 19th

*By Liquidity:

• CryptoCompare: 16th

It is important to note that rankings can vary depending on the methodology and data sources used by different ranking providers.

Additional Features of AscendEX

Besides its trading features, AscendEX offers additional services and resources to its users:

• Educational Resources: AscendEX provides educational materials, tutorials, and webinars on cryptocurrency trading and blockchain technology.
• Referral Program: AscendEX offers a referral program that rewards users for inviting new traders to the platform.
• API Access: AscendEX provides an API that allows third-party developers to integrate with the platform for automated trading and data analysis.