AscendEX Review 2021: How To Use Exchange, Fees & Cryptos

The ASD Investment Multiple Card is available to users as an additional incentive, which can be purchased with the ASD token. Users can also purchase cryptocurrencies with fiat via a credit card or debit card payment (Visa/Mastercard) in USD, EUR, GBP, UAH, RUB, JPY, and TRY. Supported assets for purchase are BTC, ETH, USDT, BCH, TRX, EGLD, BAT, and ALGO. You can also make deposits and withdrawals from and to your bank account via those card payment processes.

Use our Exchange Finder to find an appropriate exchange accepting US-investors. Bitmax incorporates a few different security protocols to protect customer funds. Say you made the same trade with 10x leverage, you would be able to sell for a $100 profit. Margin trading allows investors to buy cryptocurrency with leverage.

Stake Binance Coin At BNBFactor And Earn Up To 4% BNB Daily (SCAM)

It means for every BTC you have, you can leverage up to 100x and trade as if you have 100 BTC in your pocket. Combined with its wide range of tokens available for trading, BitMax provides the daring trader an opportunity for high risk and high rewards. Only BTMX that is manually locked up is eligible for the daily distribution. The locked tokens can be unlocked at any time but may take up to 24 hours to be usable again or can be unlocked instantly for a fee of 10%.

BitMax also offers trading for an extensive list of over 200 alt-coins, making it an excellent choice for anyone interested in trading lesser-known coins. AscendEx also holds a large portion of its digital assets in cold wallets and some are kept in a hot wallet to support the liquidity of its trading ecosystem. Moreover, it supports advanced trading features such as margin or futures trading. BitMax liquidity analysis from Section #2 dedicated to Liquidity analysis revealed that 93-98% of total reported trade volume is made by a single pair of USDC/USDT eligible for transaction mining. The turnover of the pair consistently exceeded the total number of USDC in circulation starting late December 2018, and on January 25th it was 2.9 times higher. Thus, considering the USDC balance on the exchange’s wallets through the period, those funds were flipped hundreds and even thousands of times.

New Bitcoin and Tether Margined Listings

It has a good trade view from my perspective, it is equipped with the essential indicators I need in carrying out suitable research before trading or entering a buy long or sell short position. Anyone is free to use the wallet but I am not so sure U.S investors can trade on the exchange but perhaps you a U.S investor/trader you can check out the exchange yourself. BitMEX pioneered Bitcoin’s perpetual futures contracts, establishing itself early as one of the leading Bitcoin derivatives trading platforms in the crypto market.

HDR (or any affiliated entity) will not be liable whatsoever for any direct or consequential loss arising from the use of (including any reliance on) this blog or its contents. Ki Chong first discovered Bitcoin in 2013 and has been hooked on the decentralized dream ever since. Originally from Los Angeles, he spent 4 years in Cambodia as the founder of the first 3D printing business in the country. Since leaving his business, he has devoted himself fulltime to blockchain technology in general and Ethereum in particular. Makers are users who place an order that doesn’t fill immediately and sits on the order book waiting to be matched.

AscendEX (BitMax) Review

BitMax has become a very popular crypto asset and trading platform since launching in July 2018. They are based in Singapore with two main offices in New York and Beijing and are founded by Airel Ling and Dr. George Cao. Prime Trust is a US regulated trust and custodian supporting AscendEX, which helps provide an OTC trading solution to AscendEX’s customers. The supported assets are Bitcoin, Ethereum, and Tether (USDT), and a minimum of $100,000 is required for a transaction.

• KYC verification is not compulsory, which means if You chooses not to complete KYC, You can continue to trade on the platform.
• Earned rewards are automatically reinvested in order to create a compounding return to increase the overall ROI – this is optional and can be switched on/off as desired.
• You need your email to get started, plus, you can also secure your funds using the 2-FA authentication feature that BitMEX provides.
• If the invited users engage in regular trading, the original user receives 10% of the transaction fees.
• However, apart from this sad story, it is a tough task to find adequate scam accusations aimed at AscendEX (BitMax).

Price takers pay only 0.05% commission, while price-makers receive a 0.01% rebate on each trade. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.

Transaction Mining

Always conduct thorough research before investing in any digital currency or token. Based on current provisions, we can award Bitmax with high rankings and hope that it can manage to continue delivering the same high-quality services in the future. The infrastructure assembled by the company is unique and competitive.

• In short, you don’t trade actual BTC for USD or other cryptocurrencies but trade actual BTC for Bitcoin & altcoin contracts that derive its value from actual BTC & altcoin assets.
• BitMax has become a very popular crypto asset and trading platform since launching in July 2018.
• The crypto-currency trading website is available in many languages, including English.

For example, users can multiply their airdrop rewards and investment profit with specific cards. BitMax.io margin trading requires separate “Margin Account.”  Users can transfer their assets from Cash Account to Margin Account as collateral for margin loan under My Asset Page. The native digital cryptographically-secured https://cryptolisting.org/coin/btmx utility token of BitMax (BTMX) is a major component of the ecosystem on BitMax, and is designed to be used solely as the primary token on the platform. BTMX will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain.

As of April 1st, it is only the number forty-sixth exchange by adjusted trading volume on CoinMarketCap, but if “transaction mining” is factored in, BitMax is the number one exchange on the website. This “transaction mining” is one of the many features that make BitMax stand apart from the crowd. AscendEX has developed a comprehensive set of electronic, administrative and procedural measures to make sure all user data remains as safe as possible. It also holds a large portion of its digital assets in cold storage – some are kept in a hot wallet to support the liquidity of its trading ecosystem.