AscendEX (BitMax)

Exchange #86
$ 431.90M
Volume

Coin listings

All coin listings
# Coins Price 24h volume
1
Tether USD USDT
$ 1.00
$ 450.32M
$ 450.32 million Trade
2
Ethereum ETH
$ 2,511.07
$ 201.35M
$ 201.35 million Trade
3
XRP XRP
$ 2.18
$ 45.95M
$ 45.95 million Trade
4
Cardano ADA
$ 0.669
$ 20.37M
$ 20.37 million Trade
5
Sui Network SUI
$ 3.29
$ 19.89M
$ 19.89 million Trade
All coins

New coin listings

Coins Price Added
Loud LOUD
$ 0.00181
6 days ago
6d
Trade
catwifmask MASK
$ 0.0161
7 days ago
7d
Trade
avo AVO
$ 0.00110
2 weeks ago
2w
Trade
Christ is King CIK
$ 0.0000182
2 weeks ago
2w
Trade
Lemmy The Bat LBAI
$ 0.0000358
2 weeks ago
2w
Trade
All new coins

Markets

Markets Price 24h volume
FARTCOIN / USDT AscendEX (BitMax)
$ 1.04
$ 106,568
$ 106,568 Trade
ETH / USDT AscendEX (BitMax)
$ 2,511.05
$ 200.68M
$ 200.68 million Trade
XRP / USDT AscendEX (BitMax)
$ 2.18
$ 45.81M
$ 45.81 million Trade
ADA / USDT AscendEX (BitMax)
$ 0.669
$ 20.21M
$ 20.21 million Trade
SUI / USDT AscendEX (BitMax)
$ 3.29
$ 19.89M
$ 19.89 million Trade
All markets

About AscendEX (BitMax)

AscendEX (formerly BitMax): A Global Digital Asset Trading Platform

AscendEX, initially launched as BitMax in 2018 before rebranding in March 2021, is a global digital asset trading platform headquartered in Singapore. Founded by Wall Street quantitative trading professionals, it aims to serve both retail and institutional clients in over 200 countries. AscendEX offers a comprehensive suite of trading products, but its history includes a notable security breach.

Key Features and Strengths:

  • Diverse Product Offerings: AscendEX provides a wide range of trading options including spot, margin (up to 25x leverage), futures (up to 200x leverage), and leveraged tokens.
  • Passive Income Opportunities: Users can earn passive income through various programs like staking, DeFi yield farming, and lending.
  • Native Token (ASD): AscendEX has its own native token, ASD, which offers benefits such as trading fee discounts and investment rewards.
  • Copy Trading: This feature allows users to follow and automatically replicate the strategies of successful traders on the platform.
  • Wide Asset Selection: Supports nearly 200 cryptocurrencies and hundreds of trading pairs across various categories like DeFi, NFT, Polkadot, and Solana.
  • Global Reach (Excluding US/Singapore): Serves clients in over 200 countries, though it's not available to residents of the US, mainland China, and Singapore.
  • Customer Support: Advertises 24/7 online support through multiple channels.

Security and Past Incidents:

  • 2021 Security Breach: In December 2021, AscendEX suffered a significant hot wallet hack, resulting in an estimated $77.7 million (initially reported as $70 million) in assets stolen (primarily Ethereum, Polygon, and Binance Smart Chain tokens).
  • User Reimbursement: Importantly, AscendEX swiftly informed its users and fully reimbursed all impacted customers.
  • Enhanced Security Measures: Following the hack, the exchange claims to have deployed an entirely new hot wallet infrastructure, completely overhauling its security. It now uses multi-signature (multi-sig) wallets, two-factor authentication (2FA), and cold storage solutions for the majority of user funds. They also state they have an Insurance Fund to offer protection.

Fee Structure:

  • AscendEX operates on a tiered maker-taker fee model, with rates varying based on a user's 30-day trading volume or 30-day average ASD token holdings (VIP levels).
  • Fees are generally competitive, ranging from 0-0.1% for makers and 0.02-0.1% for takers for large market cap assets. Other altcoin fees can be slightly higher (0-0.2% maker, 0.02-0.2% taker).
  • Withdrawal fees are dynamic and depend on blockchain conditions.

Important Considerations:

  • No Fiat-to-Crypto Pairs: AscendEX primarily supports crypto-to-crypto trading. While you can purchase crypto using credit/debit cards or Apple/Google Pay through third-party providers integrated into the platform, direct fiat deposits are generally not available.
  • Customer Service Reports: Some users have reported slow response times from customer service.
  • Regulatory Status: While it operates globally and requires KYC, its specific regulatory licenses vary by jurisdiction. It's important for users to understand local regulations.

Summary:

AscendEX is a well-established global cryptocurrency exchange offering a wide array of trading and earning products, catering to both novice and experienced traders. Despite a significant $77 million hack in December 2021, the exchange fully reimbursed affected users and claims to have since significantly overhauled its security infrastructure. Its competitive fees and diverse offerings make it an attractive platform for many, though the lack of direct fiat trading and past security incident (despite reimbursement) are points for users to consider.