What Is AscendEX (BitMax)?
AscendEX (formerly BitMax) is a global digital asset financial platform founded by a group of Wall Street quantitative trading veterans in 2018, building on core value of “Efficiency, Resilience and Transparency.” The global cryptocurrency exchange platform serves both retail and institutional clients in more than 200 regions. A rebranding effort was set in motion on March 22, 2021, as part of an initiative to become the leading financial platform for cryptocurrencies, combining the strengths of a centralized trading platform with DeFi.
Driven by its continuous product development and early-mover advantage in strategic alignment with the DeFi ecosystem, AscendEX offers trading services across over 200 trading pairs across cash, margin, and futures products, in particular margin trading of over 50 tokens in cross-asset collateral mode and futures trading in both cross-asset and isolated margin modes.
On December 11, 2021, malicious actors managed to access the exchange’s hot wallets, reportedly stealing $77.7 million across three chains – Ethereum, Binance Smart Chain, and Polygon.
Who Are the Founders of Ascendex?
AscendEX was founded by Dr. Jing Cao. He has garnered experience working as the Chief Investment Officer at Delpha Capital Management LLC, Chief Executive Officer for HD Consulting Services Group, Inc., and Portfolio Manager at Knight Capital Group, Inc. Jing Cao received an undergraduate degree from the University of Science & Technology of China and a doctorate from The University of Chicago.
When Did AscendEX Launch?
The company launched under the "BitMax" name in August 2018.
Where Is AscendEX Located?
The company is headquartered in Singapore.
AscendEX Restricted Countries
According to the company’s terms of service, its services are not offered to residents of Singapore, China (Mainland), the US, and “five US permanently inhabited territories - Puerto Rico, the U.S. Virgin Islands, Guam and the Northern Mariana Islands in the North Pacific Ocean, and American Samoa in the South Pacific Ocean.” Furthermore, the services are restricted for citizens and residents of regions where crypto trading is banned.
What Coins Are Supported on Ascendex?
Over 250 digital assets are listed on the exchange. Customers can trade on more than 320 pairs.
How Much Are Ascendex Fees?
There are 9 VIP levels determined by the 30-day trade volume and 30-day average ASD holdings of a user. The transaction fees are based on the user’s VIP level. For large market cap assets, the fees are 0-0.1% for makers and 0.02-0.1% for takers. The maker fees are 0-0.2%, while the taker fees make up 0.02-0.2% for other altcoins.
Is It Possible To Use Leverage or Margin Trading on Ascendex?
AscendEX allows margin trading, with leverage of up to 3X, 5X, 10X and 25X.