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Tuesday, February 7, 2023

Ascendex Cryptocurrency Exchange Review: Power Trade Is Legit

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About Ascendex Exchange

Ascendex Exchange is a secure exchange that provides a user with a variety of services. In addition to the usual crypto exchange features, it offers many other features such as copy trading and passive income earning option.

Ascendex Exchange is a digital cryptocurrency exchange that offers investors and dealers a more convenient and effective way to trade and purchase various crypto assets. The exchange was established in 2018 and has its present headquarters there. A wide variety of crypto assets are available on AscendEX and can be traded there.

When futures and spot trading markets are combined, traders have more alternatives and can experiment with a variety of assets without switching platforms. Additionally, AscendEX enables users to quickly buy the most well-liked cryptocurrencies with the aid of third-party payment processors.

Key Information

ExchangeDetails
Exchange NameAscendex Exchange
Exchange TypeCryptocurrency
Deposit FeeFree
Support24/7
LangugaeEnglish
Taker Fee0.2%
Maker Fee0.2%
Website Homepage

How To Sign Up & Start Power Trade Exchange Trading

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You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

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You Then Receive An E-mail In Your Gopax To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

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Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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Fees

Trading fees on AscendEX (BitMax) vary depending on the currency. Bitcoin, Ether, Tether, XRP, and other “large market cap assets” are cheaper to trade — takers and makers are charged only 0.1% per trade. In other cases, the fee is quite high — 0.2%. Many popular exchanges (e.g. Binance, HitBTC, etc) charge only 0.1% per trade or less and provide fee discounts for active traders.

Users trading in large amounts and holding certain amounts of ASD tokens are charged with smaller fees or at some level VIP traders get rebates instead of paying fees. As for withdrawal fees (for Bitcoin, for instance), the rate is quite standard: 0.0005 BTC.

TypeFee
Bank card payment (credit/debit card)5%
Spot trading fee (maker/taker system)Large Market Cap – 0.1%
Altcoins – 0.2%
Fees reduce with volume and ASD (BTMX holdings)
Futures trading fee (maker/taker system)Large Market Cap – 0.06%
Fees reduce with volume and ASD (BTMX holdings)
Interest rates for margin tradingVariable

Deposit fees

There is no charge for depositing cryptocurrencies into AscendEX other than associated blockchain transaction fees.

There is no option to deposit fiat currencies onto the AscendEX exchange.

Withdrawal fees

TypeFee
Cryptocurrency withdrawal feeVaries depending on the cryptocurrency. Example withdrawal fees include 0.0005 BTC, 0.01 ETH and 0.1 XRP.
Transaction Limits
TypeLimit
Maximum borrowable limit for margin tradingVaries depending on the cryptocurrency.
Example borrowable limits include 22 BTC, 600 ETH, 12,500 DOT.
Minimum cryptocurrency withdrawal amountVaries depending on the cryptocurrency.
Examples of minimum withdrawal amounts include 0.01 BTC, 0.1 ETH, 21 XRP.

Fees for buying $1000 of Bitcoin

Ascendex Exchange When purchasing bitcoin directly through the AscendEX exchange using the Bank Card Payment feature, a 5% transaction fee is incurred. For a $1,000 bitcoin purchase, the total amount payable would be $1,050.

Features

Copy trading futures

The Ascendex Exchange includes a copy trading platform for perpetual futures where users can choose to follow certain traders for a fee. Once the “Copy Trading” function is activated the exchange will automatically copy the chosen trader’s instructions to the user’s account. A user can follow traders with either a fixed or proportional amount.

Over the counter (OTC) trading solutions

For cryptocurrency purchases over US$100,000 AscendEX provides an OTC trading desk that can offer better exchange rates in comparison to smaller purchases. The OTC trading desk is facilitated by Prime Trust, an independent US regulated custodian. The OTC trading desk is limited to Bitcoin (BTC), Ether (ETH) and Tether (USDT).

Earn up to 40% commission in fees

Invite a friend to fly high with you on Ascendex Exchange and earn up to 40% commission from their trading fees. It’s a win-win all around !

Security

AscendEX implements 2-factor authentication for account access which usually requires the input of a time-sensitive 6-digit code. This code is generated from a third-party mobile application such as Google Authenticator. The exchange also distributes funds into both hot and cold wallets. Cold wallets are utilised to mitigate security breaches. Hot wallets are still required to ensure timely trade executions. The cold wallet facilities are hosted by Amazon Web Services (AWS).

Customer support

Customer support on Ascendex Exchange is available via an online ticketing system. This can be accessed via the website and mobile application.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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