AscendEX Exchange Review: Features, Pros & Cons for 2024

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Cryptocurrency trading continues to evolve, and with it, the platforms that support digital asset exchange. Among the growing list of global exchanges, AscendEX has carved out a niche for itself by combining advanced trading tools, competitive fees, and a strong focus on security. Formerly known as BitMax, AscendEX was launched in 2018 by seasoned financial experts and has since expanded its services to over 200 regions worldwide.

This review dives deep into what AscendEX offers in 2024 — from account setup and supported trading types to fees, security, and customer support — helping both new and experienced traders make informed decisions.

What Is AscendEX?

AscendEX is a global digital asset financial platform built on the core principles of efficiency, resilience, and transparency. Founded by Wall Street quantitative trading veterans, the exchange targets both retail and institutional investors. In March 2021, the platform rebranded from BitMax to AscendEX as part of a strategic push to become a leading crypto financial hub, blending centralized exchange (CEX) functionality with decentralized finance (DeFi) innovations.

Today, AscendEX supports trading across over 200 cryptocurrency pairs, including spot, margin, and futures markets. It stands out for offering cross-asset collateral margin trading on more than 50 tokens and flexible futures options with both isolated and cross-margin modes.

👉 Discover how top-tier exchanges are shaping modern crypto trading in 2024.

Key Platform Overview

How to Get Started on AscendEX

Signing up on AscendEX is straightforward and user-friendly:

  1. Visit the Website: Navigate to the official AscendEX site.
  2. Click “Sign Up”: Located at the top-right corner of the homepage.
  3. Enter Credentials: Provide your email or phone number and create a secure password.
  4. Accept Terms: Review and agree to the service agreement.
  5. Verify Identity: A verification code will be sent via SMS or email; enter it to confirm.
  6. Enable 2FA: For enhanced security, set up two-factor authentication using an authenticator app.

Once registered, users can immediately begin depositing funds or exploring the trading dashboard.

Depositing Crypto

To deposit Bitcoin or other cryptocurrencies:

Deposits are typically confirmed within minutes, depending on network congestion.

Withdrawing Funds

For withdrawals:

All withdrawals undergo security checks to prevent fraud.

Trading Options Available on AscendEX

AscendEX caters to diverse trading styles with a comprehensive suite of tools:

Spot Trading

Trade over 150 cryptocurrencies at market price, including BTC, ETH, and emerging altcoins. Ideal for beginners and long-term holders.

Margin Trading

Leverage borrowed funds to amplify positions. AscendEX supports cross-asset collateral on more than 50 tokens, allowing users to use multiple assets as collateral.

Futures Trading

Engage in perpetual USDT-margined futures contracts with flexible leverage options. Both isolated and cross-margin modes are supported, giving traders control over risk exposure.

Staking & DeFi Integration

Users can stake select tokens directly on-platform for passive income. The exchange also integrates DeFi features, enabling participation in yield-generating protocols without leaving the ecosystem.

Note: A separate logistics company named Ascend Express provides cargo services — this is unrelated to AscendEX.

Fees Structure: Competitive & Transparent

One of AscendEX’s biggest advantages is its cost-effective fee model.

Trading Fees

Compared to industry averages (typically 0.1%–0.25%), AscendEX remains highly competitive.

Withdrawal Fees

BTC withdrawal costs 0.0005 BTC, below the typical 0.0008 BTC benchmark. Fees for other coins vary by blockchain but remain reasonable.

Deposit Methods & Costs

AscendEX partners with Simplex, an EU-licensed payment processor, enabling credit/debit card purchases:

While convenient, card deposits come at a premium compared to crypto transfers.

Security & Trustworthiness

AscendEX implements multiple layers of protection:

However, in December 2021, attackers compromised hot wallets, resulting in a reported loss of $77.7 million across Ethereum, BSC, and Polygon networks. The exchange reimbursed affected users fully, demonstrating accountability.

Despite this incident, ongoing improvements in infrastructure reinforce its status as a legitimate and secure platform.

👉 See how leading exchanges protect user assets in high-risk environments.

Mobile Experience

The AscendEX mobile app (available on iOS and Android) mirrors the desktop experience:

Its clean interface makes on-the-go trading seamless for all skill levels.

Who’s Behind AscendEX?

Leadership includes:

The team brings decades of experience in finance, asset management, and quantitative trading.

Customer Support & Community

AscendEX offers multilingual support via:

This broad language support enhances accessibility for global users.

Geographic Restrictions

AscendEX does not serve users from:

Additionally, access is blocked in jurisdictions where cryptocurrency trading is prohibited.

Frequently Asked Questions (FAQ)

Q: Is AscendEX safe to use in 2024?
A: Yes. Despite a past security breach in 2021, AscendEX responded responsibly by compensating users and strengthening its security framework.

Q: Does AscendEX offer a mobile app?
A: Yes. The exchange provides fully functional iOS and Android apps with complete trading capabilities.

Q: Can I trade futures on AscendEX?
A: Absolutely. Users can trade perpetual futures contracts with USDT settlement and adjustable leverage.

Q: Are there deposit fees?
A: No. All cryptocurrency deposits are free of charge.

Q: How do I contact customer support?
A: You can reach support via email, an online form, or join their active Telegram group for real-time assistance.

Q: What makes AscendEX different from Binance or Coinbase?
A: AscendEX stands out with cross-asset margin trading, early DeFi integration, and lower-than-average withdrawal fees — ideal for intermediate to advanced traders.

Final Verdict: Is AscendEX Worth It?

AscendEX remains a strong contender in the 2024 crypto exchange landscape. With its blend of advanced trading tools, competitive fees, strong security, and global accessibility, it serves both novice traders and experienced investors well.

Whether you're interested in spot trading, leveraging positions via margin, or exploring futures markets, AscendEX delivers a reliable and feature-rich experience.

👉 Compare your next move with platforms setting new standards in crypto innovation.