AscendEX Review

AscendEX Review

Robert McDougall 

October 4, 2022

Cryptocurrency

What is AscendEX?

AscendEX is a digital cryptocurrency exchange providing a more accessible and efficient way for traders and investors to trade and buy several crypto assets. The exchange was founded in 2018 and is currently headquartered in Singapore. AscendEX offers a great range of crypto assets that can be traded on the platform. With the integration of different trading markets, such as futures and spot, traders get multiple options and can try out different assets without switching platforms. AscendEX also allows its users to easily purchase the most popular cryptocurrencies with the help of third-party payment merchants.

The exchange is available worldwide, and users from countless countries can easily register on the platform and use its services. The platform is available in several languages, including English, Spanish, French, Portuguese, German and even Hindi. To give users a full-fledged and professional trading and investing experience, AscendEX has also included several other features like staking, auctions, drops and launchpad.

  • Web Address: www.ascendex.com
  • Main Location: Singapore
  • Cryptocurrencies: BTC, LTC, ETH, XRP, BNB, TRX, and 200+ more
  • Fiat Currencies: USD, EUR, AUD, GBP, JPY, CAD, CHF, INR & more
  • Payment Methods: SEPA, SWIFT, Credit/Debit Cards, Apple Pay, Google Pay, Cryptocurrency
  • Deposit Fees: No fiat deposits
  • Trading Fees: 0.1% for large market cap coins, 0.2% for other altcoins
  • Mobile App: Yes

My Overall Thoughts on AscendEX

AscendEX has been an all-around crypto exchange serving traders and investors from all over the world for a few years now. With their latest-gen trading style, instant crypto buying features, staking and the option to switch between interfaces, it has attracted a massive community of traders and investors. Not only that, but its diversity in trading markets and trading pairs is pretty immense too.

Due to premium security measures and verification processes, the platform even offers peace of mind to their users and ensures the safety of their funds and assets. I explain many of these aspects in more detail below. However, what I particularly love about the exchange is the following:

1) The trading experience offers lots of features:  AscendEX brings trading to another level with its integration of standard and professional-grade trading interfaces, which allows users to trade on the platform according to their skill level. Other features like indicators, chart adjustments, candles swaps and time zone adjustments bring even more customization.

2) There is a good variety of cryptocurrencies:  AscendEX offers more than 200 trading pairs that you start trading right away. It’s more than enough to keep you busy, and many traders do not even explore that many pairs or assets. As for direct purchasing, AscendEX offers almost all the popular assets. Users can also swap them for other assets later on.

3) Users can make more with earning modes, rewards and staking:  AscendEX offers several ways for users to earn a good amount of extra money without doing almost anything, including affiliate referrals, staking, the rewards center, auctions and airdrops.

The only two aspects that the platform currently needs to work on are its customer support and country restrictions. But the way the platform is transforming and adapting to the latest digital standards, we might see a positive change in the future.

Key Features and Advantages of AscendEX

AscendEX is a relatively simple cryptocurrency platform without complicated terms and options that confuse amateur traders and investors. It is designed to fulfill the requirements of most traders and investors in the simplest way and offer them a comfortable experience within the crypto industry.

AscendEX even walks first-time users through the whole trading platform so they can understand where different options are located and what they are used for. Users who find the trading features too complicated can also simply buy and hold their assets in the AscendEX crypto wallet. The platform has a lot more to offer, listed below:

Negatives and Disadvantages of AscendEX

Along with all the benefits of AscendEX, there are a few negative aspects that you should not ignore.

What Services Does AscendEX Offer?

AscendEX focuses on providing a complete trading experience to its users by providing all the requirements of the current crypto community. Be it quick purchasing of cryptocurrencies or professional trading of the same assets, AscendEX won’t disappoint. I’ve detailed the services of the exchange below.

Great variety of 200+ cryptocurrencies for trading:  AscendEX definitely has more than a few crypto assets on its platform. Traders can utilize more than 200 crypto assets without any restrictions. Of course, 200 is a massive number for an amateur trader, but it certainly is a great variety for any professional trader too. While a few crypto exchanges on the internet offer absurd amounts of crypto assets, AscendEX has kept things simple.

AscendEX includes almost all the assets that are being talked about, leaving all the unknown ones outside the platform. This allows traders to work with assets that actually have potential. It also reduces the risk of investing money in a rug pull. For a small idea of the type of assets you can expect from the platform, take a quick look below:

  • BTC
  • ETH
  • DOT
  • XRP
  • BNB
  • DOGE
  • LUNA
  • SHIB
  • ADA

There are so many more that you might have a hard time keeping track of them all. Head to the market section of the platform to get a complete list of the assets and pairs available to trade.

Buy and convert cryptocurrencies instantly:  You can buy almost anything in the world within a few seconds, and crypto assets are no exception. With the integration of credit and debit card payments, users can instantly purchase cryptocurrencies on AscendEX. The exchange supports dozens of fiat currencies through which users can make their purchases. This feature saves users money on taxes and conversion charges. While the variety of crypto is undoubtedly not the same as what you would find for trading, AscendEX sells almost all of the popular cryptocurrencies, along with emerging ones.

Investors can also exchange or convert their crypto assets with a single click and without any fees. It’s as easy as selecting the asset you want to exchange and the asset you want to get in return.

Mobile apps:  Mobile phones have definitely made lives easier and more efficient. Due to the prevalence of these devices, many crypto platforms now offer dedicated trading apps.

AscendEX is among them. The platform has developed its own mobile app for Android and  iOS. Users can easily download AscendEX from their app store. The app supports trading with all the professional charts and info, buying assets, topping off accounts or using the app as a wallet.

Spot, futures, and margin trading:  AscendEX brings a lot of opportunities for traders to diversify their portfolios by offering their users two different markets to trade in. The first one is, of course, the most popular—the spot market. The other is futures, which offers several pairs to trade.

Traders who demand diversity will prefer spot trading, due to its many options. But it is always a great idea to explore different markets and grab the opportunities that could benefit you the most.

In addition to that, the exchange provides yet another feature that can multiply a trader’s potential for profits: margin trading! The highest margin AscendEX currently offers is 25x. This level of leverage is available only for major coins like Bitcoin and Ethereum. As for the rest of them, you can access 10x or 5x leverage to scale your funds. But keep in mind that while margin trading can definitely increase your earning potential, it can also increase the risk of losing your funds faster than standard trading. So do your research before you decide where you want to put your equity.

Advanced and standard trading interfaces:  No beginner wants to start trading the hard way or skip important things just because they might seem complicated. To tackle this problem, AscendEX has come up with a solution that benefits not only beginners but professionals as well.

AscendEX has two different options for its trading interface. The first is standard, and the other is Pro View. With the standard trading interface, users can trade, check charts, analyze markets, place buy/sell orders and check the order book, but without any complicated features.

With Pro View, users get a professional interface with tons of options and features. Of course, Pro View integrates all the options found in the standard view, but alongside those, it offers a few more options that help you evaluate an asset even better. Traders can use indicators, change the candles, check out the properties, adjust the scales and do much more right from one place. With either view you choose, the charts are quick, accurate and precise.

Copy trading:  Copy trading is an emerging feature that crypto platforms are adopting due to its success. It is a great option for users who have literally no idea how trading works.

Copy trading allows you to copy a particular trader, essentially letting that trader trade for you. In other words, all you have to do is sit back and watch the professional do their job. Of course, you have to pay a fee to that trader in exchange for their professional services.

If you decide to go with copy trading, just make sure to pick the right trader. You can get an idea of how good a trader is by thoroughly checking out their history, including their overall profit and their success rate.

Strict security and verification measures:  The security and verification measures at AscendEX are quite brilliant. For starters, users cannot use many services without fully verifying their accounts. Then, after you are fully verified, the platform does not allow users to move forward with trading or investing activities without enabling Google’s two-factor authentication. For added security, you can add a phone number, use anti-phishing code and enable notifications. If you notice any irregular activity on your account, you can instantly freeze it to avoid further consequences and then contact the support team to sort the problem out for you.

As for the security of the platform as a whole, AscendEX uses multi-layer protections along with cold storage to keep their users’ funds safe and sound. All the transfers also go through several layers of checks to ensure everything is good. Lastly, AscendEX complies with the KYC laws and regulations to protect the integrity of the platform.

Impressive earning opportunities with staking:  If you want to passively earn considerably more than what a bank savings account would net you, then staking is a good option. Staking works similarly to a savings account, but the returns are considerably higher. With AscendEX, users can even earn more than 100% APY on a few assets, which is unbelievably good. But with popular assets like Bitcoin, you can expect to get APY ranging between 3% and 15%.

There are also more than 50 projects on AscendEX that can be staked. Those projects might include assets you already own, in which case you can stake them and let your assets earn for you.

Several efficient ways to earn extra money:  If staking is not enough for you, don’t worry—AscendEX has a few other ways to earn extra money. Check out the rewards center, which offers exclusive rewards for both new traders and existing traders. After completing a given task, users enjoy the benefits offered by the platform.

Another easy way to save a few extra bucks is to keep an eye on the airdrop and get tokens at discounted prices. You can also check out their auctions, point cards and investment cards for even more benefits and earning opportunities.

Excellent referral program with up to 40% commissions:  AscendEX’s referral program can help you earn some money too, if you want (and have the convincing power) to bring friends and family over to the platform. AscendEX currently offers a commission fee of 25% on futures trading and 10% on case trading, with the option to give your referrals a rebate. You can earn up to 40% for futures trading, depending on the account level you have.

Thorough help center with guides and articles:  If you experience any confusion, trouble or misconception, you can visit AscendEX’s help center and get a precise solution to your problem. The best thing about it is that it contains detailed and thorough guides and articles on everything from signing up and security to depositing, withdrawing and trading. If you search for a specific problem and there is a solution available, it will pop out instantly for you.

Things I Don't Like About AscendEX

After checking out all the benefits above, you might have painted a pretty portrait of AscendEX. Unfortunately, I have to burst your bubble, as AscendEX also comes with a few cons. Check out the things I don’t like about the platform below.

Not available in the US and other major countries:  Unfortunately, AscendEX is not available in some major areas, like the USA and UK. We all know that these regions have the most traders and investors looking to use an efficient platform for their needs, but due to all the laws and regulations, AscendEX has not yet started offering their services there. If you are from the US or any other restricted country, you will have to look for an alternative or wait and hope that the platform has some plans to offer services in your area in the future.

No live chat support:  It can be a significant letdown in this era when there is no live chat support available. Everyone wants to save their precious time when faced with a problem they cannot solve themselves. It can feel like a waste of time when a platform allows their users to get in touch with them only through forms or emails.

AscendEX will have to work on this aspect if they want to completely satisfy their users. But, of course, it may be low on the platform’s priority list, as it is not a major problem and it can be solved only if the exchange brings on more representatives and support technicians.

AscendEX Fees

AscendEX Deposit Fees

Crypto deposits at AscendEX are absolutely free. But if you use a credit or debit card for purchasing crypto instantly, you have to pay a variable fee of 1%–3%, depending on the amount and the fiat currency you have chosen. Also, the fee is subject to change and might vary depending on your specific scenario.

The fee becomes higher if you opt for third-party payment merchants. You can expect to pay the merchants anywhere between 5% and 9% on your purchases through all the available methods.

AscendEX Trading Fees

AscendEX has two different trading fee models. One is for significant market cap assets, and the other is for altcoins. You can also receive lower trading fees based on your previous 30-day trading volume, or the amount of ASD (AscendEX’s own coin) that you own. Review the chart below to understand the whole scenario.

This is how the trading fee works for spot trading. There is a separate fee structure for futures trading, and the fee for that is comparatively lower as seen in the table below.

AscendEX Fiat Withdrawal Fee

Fiat withdrawals are not supported on AscendEX. The exchange only allows their users to purchase crypto assets directly with fiat currencies.

AscendEX Crypto Withdrawal Fee

Each crypto asset on AscendEX comes with its own minimum withdrawal requirements and withdrawal fee. For example, users must pay a fixed fee of 0.0005 BTC for every withdrawal of BTC. In comparison, the fee for withdrawing Ethereum is 0.01 ETH. To get a precise idea of the withdrawal fees, you can visit the fee page of the exchange.

Pros and Cons of AscendEX

Pros
  • Great variety of 200+ crypto assets
  • Instant purchasing of cryptocurrencies
  • Professional and standard trading interfaces
  • Tons of efficient ways to earn extra income on the platform
  • Spot and futures markets
Cons
  • The USA and some other countries are not supported
  • No live chat support
  • No fiat withdrawals from AscendEX

Verdict

All in all, you can expect a great experience from AscendEX if your standards are not unrealistically high. Whether you are an investor or a trader, a beginner or a pro, AscendEX will help you get started and provide you with an easy-to-understand and easy-to-navigate platform.

With all the benefits of vast trading markets, copy trading, tons of assets and pairs, hassle-free crypto purchases and countless earning opportunities, you can relax and perform all of your crypto activities right on a single platform. Just make sure that they support your country of residence.

If you are located in the US, you won't be able to use AscendEX, so you will need to find another crypto exchange that is suitable. Take a look at our article on the best cryptocurrency exchanges in the USA to continue your research. There is also a table below that you can use to compare the top cryptocurrency platforms at a glance.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Does AscendEX offer its service in the US?

AscendEX does not currently offer its services to the residents of the United States of America. The most common reason crypto exchanges do not service US users is the laws and regulations of the country.

Can you trust AscendEX?

AscendEX is a trusted and reliable crypto exchange that has been in the industry since 2018. They have served millions of users, and they plan to do even better.

Has AscendEX ever been hacked?

AscendEX was hacked in December 2021, losing around $78 million. But the exchange promised to completely return the funds of the users who were compromised by the hackers.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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