AscendEX Review 2026

If you're looking for a comprehensive cryptocurrency trading platform and don't mind a lack of regulation, consider AscendEX. It supports both crypto and fiat deposits, offers multiple trading options, and has competitive (for the most part) fees.

Beginners benefit from copy trading and a simple swaps tool, while advanced traders can capitalize on AscendEX's high leverage limits. With advanced analytical tools and powerful features for amplifying profits/losses, AscendEX best suits moderately experienced traders. That said, beginners should feel at home after a brief learning period.

Throughout this AscendEX review, we'll examine the platform in-depth, discussing its features, fee structure, user experience, security measures, and more. We'll also provide a straightforward guide on getting started with AscendEX. Let's dive in.

Pros and Cons of using Ascendex Exchange

Ascendex Background and Reputation

When you're evaluating an exchange, taking time to learn about the company's background and history provides invaluable insight into whether it's worth using. You should consider past controversies (hacks, security breaches, regulatory issues), user reviews (check TrustPilot and Reddit), and how the platform is regulated/licensed.

Company Overview

When it was founded in 2018, AscendEX was known as BitMax.io, but rebranded in 2021. The platform has garnered over 1 million registered users. Notable investors include Polychain Capital, Hack VC, and Jump Capital. The crypto trading platform operates globally, with its headquarters located in Singapore.

AscendEX is a comprehensive cryptocurrency trading platform that offers fiat on-ramps, Peer-to-Peer (P2P) trading, futures contracts, copy trading, and crypto staking, covering the services most commonly desired by traders and investors.

Regulation & Licensing

Regulated platforms must adhere to specific guidelines designed to protect customers, ensure fair operation, and manage the availability of services in certain regions. Unfortunately, AscendEX is not licensed by any regulatory authority, which limits user recourse in the event of an issue and typically indicates a less trustworthy exchange.

AscendEX operates in regions where it does not have approval. You should check your local regulator to see if they've issued a warning against the firm. For example, the UK's Financial Conduct Authority (FCA) has issued a warning against AscendEX for operating in the UK without approval.

However, the exchange states that it complies with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) guidelines. While its terms of service mention compliance with Know-Your-Customer (KYC) requirements, users can register and deposit without completing verification, making AscendEX suitable for individuals seeking a no-KYC exchange.

Trust & History

Is AscendEX legit? It's a genuine exchange that many use. Most people report that it functions as intended. However, it has faced a few controversies throughout its operations.

Most notably, attacks stole roughly $78 million from AscendEX's hot wallet in December 2018. The exchange issued a statement soon after identifying the hack, reassuring customers that if any user funds were compromised, AscendEX would cover them completely. While devastating, AscendEX's transparency helped to limit the fallout.

User Reviews

AscendEX reviews from users provide valuable insights into the typical customer experience, which can help prospective users decide whether it's right for them.

On Trustpilot, AscendEX has a score of 1.6/5 based on 196 reviews. Its profile is unclaimed, so AscendEX doesn't respond to comments from users, suggesting poor communication. Users report lengthy KYC processes, AscendEX unexpectedly locking funds, and inactivity fees eating into long-term holdings. However, mobile reviews are more positive.

How to Sign Up for AscendEX

Struggling to figure out how to use AscendEX? Below, we provide a straightforward step-by-step guide detailing the entire process, from start to finish. Let's take a look.

Step 1: Create an AscendEX Account

The AscendEX sign-up process can be completed within just a few minutes. First, head to the AscendEX website, then click the purple 'Sign Up' button in the upper right corner.

You must enter an email address and password, then confirm your account by entering the code sent to the email address you provided. After creating your account, you should set up an anti-phishing code. It will display a special phrase that you set in genuine communications.

Step 2: Complete KYC Verification

After creating your account, you'll need to complete Know-Your-Customer (KYC) verification. It's not strictly required if you only trade crypto, but it's necessary to access AscendEX's full suite of features.

Navigate to the verification section within your profile. Then, you must select your country of residence and choose a form of photo ID (national ID card, driving license, passport).

Verification takes place on your mobile device; you'll need to scan a QR code, then take a picture of your document, and complete the facial recognition scan. Once you've finished the process, verification is complete. You should be approved quickly, but it may take up to 24 hours.

Step 3: Deposit Funds

Before you can use the exchange, you'll need to deposit funds. You can deposit crypto from an external wallet via the AscendEX wallet section. If you need to purchase crypto, you'll have to use a fiat gateway; either the 'Buy Crypto' tool or the P2P marketplace.

Step 4: Start Trading

After funding your account, you're ready to start trading. Choose whether you want to invest in the spot market or trade futures contracts, then search for the asset you desire, decide how much to purchase, and then press the green 'Buy' button to complete the transaction.

Initial Setup & User Experience

When conducting a crypto exchange review, the platform's general usability and the overall user experience are crucial considerations. An exchange shouldn't be difficult to use or hide key features/details. Platforms with a smooth registration process and streamlined trading functionality are best.

Ease of Use

AscendEX will be familiar to anyone with experience using other crypto exchanges. Features are easy to understand, and there aren't many ambiguous or overly complex tools. While most people should be able to get to grips with AscendEX quickly, leverage (amplifies losses) and inactivity fees are the main risks.

Display & Buttons/Touchscreen

The exchange features a typical design, with key tools available on the left side of the navigation bar and profile/account-related services (such as deposit/withdrawal, settings, etc.) on the right. The fiat on-ramp makes it easy to buy Cardano or hundreds of other assets.

During testing for this AscendEX review, I found that menu items were easy to interpret thanks to the brief descriptions provided for each option. While the exchange is responsive, data takes a while to populate. For example, the assets took around 5 seconds to load when accessing the 'Markets' section.

Overall, AscendEX is relatively responsive, and navigation is intuitive; however, the platform's slow load speed could be a drawback for power users who need to switch between tools rapidly.

Mobile App Review

If you like to travel, spend a lot of time out of the house, or prefer using a mobile device over a laptop or desktop computer, then a mobile trading app is invaluable. They let you manage your portfolio and trades from anywhere with an internet connection.

The AscendEX mobile app is available for both Android and iOS devices. However, it's unavailable in certain regions' app stores. That said, Android users can download APK directly from the exchange's website.

I conducted an AscendEX app review and found that it offers a stellar user experience. Features are easily accessible through the bottom navigation bar, and the app is responsive. All the tools available on the web exchange are also present in the mobile app, creating a consistent cross-platform experience.

AscendEX app reviews are positive, with a 4.3/5 rating based on nearly 6,000 Play Store reviews. Some users report a positive experience, but most report lackluster customer service, inconsistent Know-Your-Customer (KYC) requirements, and high fees for withdrawing cryptocurrency. Favourable reviews were centered around simplicity.

Ascendex Key Features & Services

Whether you're an investor, trader, or general crypto enthusiast, a few features are indispensable for all the top cryptocurrency platforms, including:

Buying & Selling Crypto

Having the tools to buy Ethereum or any other asset and sell your investments when desired is essential for a trading platform like AscendEX.

There are 756 AscendEX-supported coins, including the platform's native ASD token, which offers various benefits, such as fee reductions, 9.74% staking rewards, and exclusive investment opportunities. Users can also trade 137 futures contracts with up to 200x leverage.

With users having access to a diverse range of high-market-cap assets, smaller altcoins, and stablecoins, they require a convenient method for purchasing these assets. Users cannot deposit fiat. However, AscendEX offers a third-party fiat on-ramp that supports credit/debit cards, as well as SEPA and SWIFT transfers.

Alternatively, AscendEX features a Peer-to-Peer (P2P) marketplace, which is a solid substitute for a Decentralized Exchange (DEX) like PancakeSwap. Users trade with each other; there's no central intermediary. Four assets can be traded with 74 fiat currencies using local AscendEX deposit methods, like Wing Money, enhancing convenience for international users.

If you're a beginner looking to buy Solana in a straightforward environment, AscendEX is a strong choice. The P2P marketplace and fiat on-ramp are accessible to users regardless of experience, while the swaps tool makes crypto-to-crypto trading as simple as possible, cementing AscendEX as a reasonable crypto exchange for beginners.

Trading Platform

As a full-service trading platform, AscendEX must deliver an exceptional trading experience to its users. The interface is intuitive; buying or selling crypto is simple enough for anyone. The order book-based trading interface is more complex but will be familiar to anyone with experience using an exchange.

While many advanced exchanges offer a large variety of crypto trading order types, which make it far easier to enter and exit positions precisely, Ascend is relatively limited. Traders can utilize the following order types:

Analysis is a crucial component of the trading process. Diligently assessing potential opportunities can vastly increase a trader's success rate. To this effect, AscendEX features TradingView integration, which provides access to a diverse range of technical indicators and drawing tools, enabling in-depth analysis without the need for an external platform.

In addition to providing access to the spot market, AscendEX supports over 100 futures contracts with up to 200x leverage, allowing users to amplify their profits and losses significantly. A copy trading system enables users to automatically mirror the positions of experienced traders, whose success metrics are clearly displayed.

The advanced crypto trading platform has also created the AscendEX DEX, a non-custodial, decentralized platform for trading futures contracts. It connects directly to the user's wallet and supports three networks (Ethereum, Base, and Arbitrum). Users can access up to 100x leverage, not as much as the core exchange, but still ample.

According to CoinMarketCap's data, AscendEX processes around $1.4 billion in daily trading volume, ranking it close to OKX ($1.45 billion) and Bitget ($1.6 billion). Liquidity measures how large a transaction can be without impacting an asset's value. AscendEX has a liquidity score of 487, comparable to HTX (491).

Supported Wallets & Custody

Anyone with an account can store assets on AscendEX for free (excluding inactivity fees). But should you keep your investments on the exchange?

While testing security for this AscendEX review, I found that users' accounts are protected with Two-Factor Authentication (2FA), anti-phishing codes, and a device management system, which enables users to monitor where they're logged in.

Knowing that AscendEX offers a custodial wallet and understanding what that entails is crucial before deciding whether to store your crypto on the exchange or in an external wallet.

The issuer (e.g., AscendEX) controls the seed phrase associated with a custodial wallet, not the user, which limits control. However, eliminating the need for seed phrase storage and management can actually enhance protection for novices because accidental seed phrase exposure is a common way wallets become compromised.

On the other hand, non-custodial wallets are controlled entirely by the user. They manage the seed phrase and are responsible for securely storing it. While custodial wallets are often recoverable with login credentials, there's no chance of recovery if a non-custodial wallet's seed phrase is lost, so we advise cautious usage.

Earning & Lending

Many all-in-one exchanges offer various tools for earning interest on crypto holdings. They're usually focused on staking or yield generation through predictions or participation in Decentralized Finance (DeFi) products.

AscendEX offers a single 'earn' product that generates yield through a mixture of staking, DeFi yield farming, liquidity farming, and lending/borrowing. In total, 74 assets are supported, including USDT (10.52%), BTC (5.13%), ETH (6.18%), and XRP (2.02%).

AscendEX doesn't offer any additional tools for generating yield. There are no Bitcoin mining pools or an AscendEX loan system. A referral program rewards users for bringing their friends to the exchange, and AscendEX runs semi-regular trading competitions with thousands of dollars in prizes; however, these do not provide consistent earnings.

Security Measures

While trading is the core function of an exchange, users must also be able to store their assets securely. The best crypto exchange will offer various optional tools, as well as industry-standard security measures, such as 2FA and anti-phishing codes, to enhance protection.

AscendEX displays the user's security level (low, medium, or high), providing a convenient visual guide. Users can set up 2FA via phone or a dedicated authentication app, like Authy. Traders can also set up notifications for sensitive actions and anti-phishing codes to verify genuine communications.

The top crypto investment platforms store the majority of customer assets in cold storage, keeping tokens protected from network attacks. AscendEX takes a similar approach, utilizing a dynamic hot/cold wallet system that stores most holdings in cold storage, while keeping only operationally necessary funds in hot wallets.

Due to its lack of regulation, users are not protected by compensation schemes or deposit insurance. However, the exchange offers an insurance policy in the form of negative balance protection on futures trading. The AscendEX security page mentions an insurance fund for partial losses, but there's no concrete information on it.

While AscendEX conducts internal audits, the details and frequency of these audits are not publicly disclosed. However, a suspicious activity monitoring system runs 24/7. AscendEX lacks a proof-of-reserves system to confirm that it backs user assets 1:1; however, AscendEX states that the exchange's balance sheet protects user assets.

Payment Methods & Fees

The best crypto exchanges ensure trading is affordable. If two exchanges are similarly equipped, you should almost always opt for the lower-cost option. Doing so can increase earnings and make it easier to profit.

Ready to have AscendEX's cryptocurrency fees explained? The fee structure is reasonable, but somewhat confusing and obscured. There's no charge (outside of network fees) for depositing crypto. Purchasing crypto with a credit/debit card incurs a cost that ranges from 1.69% to 2.06%, which is reasonable compared to competitors.

Withdrawal fees vary depending on the asset. Bitcoin costs 0.0005 BTC ($45), Ethereum is 0.005 ETH ($16), and ERC-20 USDT incurs an 8 USDT fee. These charges are notably higher than those of typical exchanges, likely in an effort to retain user funds on the platform.

On the other hand, AscendEX's trading fees are reasonable (albeit somewhat confusing). There's a 0.1% fee for large market cap assets, like Bitcoin, Ethereum, XRP, and Chainlink. Altcoins incur a 0.2% charge, while a 0.4% fee applies to 360 smaller assets, making charges difficult to predict without double-checking.

A point of contention in AscendEX reviews is the platform's inactivity fees. After 12 months of inactivity, AscendEX charges a $10 monthly fee, making it ineffective for long-term storage. These types of charges are seldom seen on exchanges, but are typical of traditional brokers.

AscendEX's withdrawal limits are as follows:

These figures indicate that AscendEX has excessively high minimum withdrawal amounts for most cryptocurrencies. Minimum deposits, on the other hand, are extremely low, reinforcing AscendEX's efforts to keep assets on the exchange, rather than streamlining external withdrawals, which would enhance customer safety.

Customer Support

When you regularly use a Centralized Exchange (CEX), you're likely to encounter an issue eventually. They're usually minor, for example, not knowing how a particular feature works or being restricted from using a specific service due to regulatory requirements. Serious issues, like withdrawal difficulties, require quick and knowledgeable assistance.

The AscendEX customer support system is relatively limited. While it claims to offer 24/7 phone, email, and chat support, AscendEX only offers a ticket request service. It has no estimated reply times, but the team responded to my simulated deposit issue query within around 10 minutes, which is excellent.

A help center is available, but it’s limited. Articles are old, but cover around 100 articles, mostly centered on the platform's features, including topics such as buying Bitcoin, making them suitable for getting to grips with AscendEX. Since troubleshooting articles are limited, users facing technical issues must submit a ticket.

Geographical Availability

While AscendEX operates globally, users from certain prohibited countries are restricted from the platform. United States residents cannot access AscendEX, nor can users from Singapore, China, and Morocco (along with 24 other countries).

AscendEX is not regulated by a financial authority such as the FCA or FinCEN, so it generally doesn't comply with specific, local regulations. However, the exchange adheres to Anti-Money Laundering (AML) and Counter-Terror Financing (CTF) regulations, as stated on its terms of service page.

Licensed exchanges offer superior customer protection, provide recourse avenues, and adhere to local laws, which contribute to a smoother experience and better uptime. Although AscendEX is a relatively secure crypto exchange, individuals who prefer a regulated trading environment should consider alternatives.

Other AscendEX Products and Services

Throughout this AscendEX review, we've highlighted some of the exchange's top features, focusing on those most desired by traders and investors. The platform lacks tax software integration, which can simplify the filing process. However, other useful products are available, including:

Crypto to Crypto Swaps

AscendEX offers a convenient crypto-to-crypto swaps tool that drastically simplifies the process of exchanging digital assets.

Instead of having to interact with the order book to buy Shiba Inu (or any other asset), users select a token they hold, pick one they want, and confirm the swap. The tool has a built-in fiat on-ramp for straightforward account funding.

Leveraged Tokens

In addition to futures contracts, AscendEX users can amplify their profits/losses using leveraged tokens. There are 3x short and long tokens. For a 3x long Bitcoin token, the ticker is 'BTC3L'.

The advantage of leveraged tokens is that they can be bought and held like spot assets. You purchase the token, and it's transferred to your AscendEX wallet; you do not have to manage an open trade. As such, leveraged tokens are excellent options for amplifying long-term positions.

Copy Trading

Another valuable feature is the AscendEX copy trading system. We've already touched on it, but the system enables people to browse experienced traders and view key statistics (cumulative profits/losses, total win rate, assets under management, followers, etc.) to determine who is worth following.

Once a user has decided which trader they want to follow, they delegate funds and automatically mirror the profits and losses of the trader or 'leader'. If you're knowledgeable, you can register as a trader/leader and earn a percentage of your followers' profits, providing an additional income stream.

AscendEX vs Other Crypto Exchanges

Here is how AscendEX stacks against other top crypto exchanges in the market:

Who is AscendEX Best Suited For?

Every exchange is different. There's no single best choice for everyone. You should consider your goals (investing, day trading, swing trading, etc.), then determine your requirements (a fiat on-ramp, analytical capabilities, leverage), and evaluate the exchange to see if it matches your needs.

AscendEX is best suited for individuals seeking an all-in-one trading platform who are comfortable using an unregulated platform. It's secure, offers many assets, and provides a straightforward fiat on-ramp, making it convenient for both investors and traders. However, people seeking maximum protection should consider a regulated exchange.

Conclusion & Final Verdict

If you're looking for a comprehensive trading platform and don't mind a somewhat complex fee structure and a lack of regulatory protections, AscendEX is worth considering. Our AscendEX review found the platform to be well-rounded and a solid choice for general use.

The trading experience is suitable for beginners and experienced users, thanks to a mixture of simple and advanced tools/features. While the help center is relatively limited, the AscendEX customer support team responded quickly, which is useful when rapid assistance is required.

Although it has relatively robust security measures, AscendEX lacks proper regulatory oversight, isn't registered for compensation schemes, and lacks a proof-of-reserve system. If you're looking for a solid general-purpose trading/investing platform, AscendEX is a strong choice. However, security-conscious users may prefer an alternative, like Coinbase.

FAQs (Frequently Asked Questions)