AscendEX Review

An internationally pioneering digital asset exchange for global traders and international companies is AscendEX, formerly known as BitMax. I have written this AscendEX review to discuss further what kind of exchange they have established and whether it is going to be beneficial for you.

The products and services they offer have been specifically designed for various types of traders, giving reliability, quick execution of trade with easy communication and navigation.

George Cao, the Co-founder and CEO, Ariel Ling, the Co-founder and COO, and Shane Molidor, the Head of Business Development, lead the exchange. All these individuals have prior experience in managing assets, finance, and banking. Most importantly, they have been seasoned at Wall Street, thus making them financial gurus.

Mobile Application

Most cryptocurrency traders believe that trading on a desktop computer provides the best conditions. The computer has a larger screen, and on larger screens, more of the critical information that most traders rely on can be platformed at the same time. The trading chart will also be more easily visible.

Of course, not all traders require desktops. Some have a preference to make decisions and take quick actions on the go. These traders will be please to know that AscendEX’s trading platform is also available as an iPhone and Android app.

Trading

AscendEX provides its customers with the option of trading with additional leverage. This means you can get cryptocurrency from the exchange. The interest rate varies depending on the trade, but it may appear as low as 3.65 percent annually (0.01 percent daily). As you may be aware, leveraged trading can result in both large profits and large losses.

Let me explain, leverage is the amount by which a trader can increase his position. For example, a margin trader who opens a 100X leverage trade will increase its exposure to 100 times and its profit. On the other hand, the trader can lose the initial investment if it is unsuccessful. Consequently, massive ups and downs are clearly potentially possible.

The Trading Platform

There are distinct trading platforms on various exchanges. However, you should select which platform is the best for you. The order book or a section of the order book, price charts, and the purchase history of the chosen cryptocurrency are some of the most visible data analysis tools for exchanges to have on their platforms.

As a novice or a newbie, I would suggest that you view the platform on their website and play around before you decide to choose one.

Trading Fee

Most exchanges levy a charge on the taker and maker fee for both the taker and the maker. This fee can vary for both maker and taker. However, some exchanges just simply charge a fixed amount, known as a flat fee. In this case scenario, the maker and the taker are charged the same amount regardless of what profits they make.

For major market cap assets, this exchange charges a basic charge starting at 0.10% per trade (0.20 percent for “altcoins”). 0.10% is the lowest VIP level for users (VIP 0). Users with higher VIP levels will qualify for even lower commercial charges, as laid down on their website.

Withdrawal Fee

In addition, to the above-mentioned charges, there is one more charge that you should consider when selecting an exchange, and that is the withdrawal fee. Usually, this amount is fixed regardless of the amount you decide to withdraw. But do keep in mind the variation will be incurred upon the type of currency you decide to withdraw.

AscendEX charges BTC at 0.005%, which is also below the conventional amount charged by exchanges. In a nutshell, this exchange offers relatively very competitive fees and charges.

Final Words

AscendEX has not only provided its customers a user-friendly interface but has also allowed for anonymous trading. Though all features might not be accessible to guest users, this exchange is still very simple to use.