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AscendEX (BitMax)

About AscendEX (BitMax)

What is AscendEX (BitMax)?

AscendEX, formerly known as BitMax, is a global cryptocurrency exchange platform that serves retail and institutional investors in over 200 locations. The exchange underwent a brand change in 2021 with the goal of becoming the industry's premier cryptocurrency financial platform, while seamlessly combining the benefits of a centralized exchange with DeFi. Unfortunately, a few months later, the platform became the victim of a hacking incident. On December 11, 2021, hackers reportedly managed to gain access to the exchange's hot wallet and stole $77.7 million from three blockchains (Ether, BSC, and Polygon).

Who are the founders of Ascendex?

AscendEX was founded by Dr. Jing Cao. He was previously the Chief Investment Officer of Delpha Capital Management LLC, CEO of HD Consulting Services Group, Inc. and portfolio manager of Knight Capital Group, Inc. He received his PhD from the University of Chicago.

When did AscendEX launch?

The company was launched in August 2018 under the name "BitMax".

Where is AscendEX located?

The company is based in Singapore.

Countries with restricted access to AscendEX

According to the company's terms of service, its services are not available to Singapore, China (mainland), the United States, and "five permanently inhabited U.S. territories - Puerto Rico, the U.S. Virgin Islands, Guam, and the Northern Mariana Islands. and American Samoa in the South Pacific. In addition, residents in areas where cryptocurrency trading is prohibited are also unable to use the exchange's services.

What coins does AscendEX support?

There are over 250 digital assets listed on the exchange. Customers can trade more than 320 pairs.

What are the fees for AscendEX?

The exchange has 9 VIP tiers, determined by a user's 30-day trading volume and 30-day average ASD holdings. Trading fees are based on a user's VIP level. For assets with high market cap, the pending order fee is 0-0.1%, while the order eating fee is 0.02-0.1%. For other cottage coins, the pending order fee is 0-0.2%, while the order eating fee is 0.02-0.2%.

Can I trade with leverage or margin on AscendEX?

AscendEX allows margin trading with leverage up to 3x, 5x, 10x and 25x.