Comparison of Bitbuy vs Ascendex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitbuy vs Ascendex comparison!

Your expert: Alejandro Borja

bitbuy

Bitbuy

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

altcoin trader

Ascendex

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.20%

Earns

Yes

Customer service

4/5
0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees but slightly higher for fiat transactions.
4.1 – Low trading fees with discounts for token holders.

Level

0.20%
0,10% /0,20%

Brief explanation

Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.
Altcoin Trader’s commission structure is designed with simplicity in mind, aligning with its overall user-friendly approach to cryptocurrency trading. The platform charges a flat fee of 0.25% on all trades, whether you are buying or selling. This rate is quite competitive within the industry, particularly for an exchange that prioritizes ease of use for beginners. The straightforward fee model eliminates any confusion about variable rates that can affect the cost of transactions, making it easier for new traders to understand exactly how much they will be paying per trade. This transparency in fees is part of what makes Altcoin Trader a preferred choice for those new to the crypto markets.

Bitbuy

bitbuy
Read bitbuy review
  • Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
  • Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
  • Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
  • Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
  • Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.
  • Pros
  • Strong regulatory compliance in Canada.
  • User-friendly interface for beginners.
  • Robust, effective security measures.
  • Cons
  • Relatively high trading fees.
  • Limited selection of cryptocurrencies.

Read bitbuy review

Ascendex

altcoin trader
Read bitbuy review
  • Year Founded: Established in 2015, Altcoin Trader has been in operation for several years, allowing it to develop a deep understanding of the market dynamics and user needs. This longevity in the volatile crypto market underscores its resilience and adaptability.
  • Security Methods: Altcoin Trader employs robust security measures, including cold storage for the majority of the assets, which significantly reduces the risk of hacks and unauthorized access. This focus on securing user funds is a critical factor in building trust.
  • Reputation and Reviews: The platform has built a strong reputation within the South African cryptocurrency community. User reviews often highlight the reliability of the service, the responsiveness of customer support, and the ease of use of the platform.
  • Transparency: Altcoin Trader is known for its transparent operational practices, including clear communication about fees and any changes to the trading environment. This transparency helps build trust and ensures users feel secure in their trading decisions.
  • Customer Service: The exchange has a dedicated customer service team that is accessible and responsive. This service ensures that users can receive quick and helpful responses to their inquiries or issues, which is crucial for both new and experienced traders.
  • Pros
  • Supports direct ZAR deposits.
  • User-friendly interface for beginners.
  • Offers a wide range of altcoins.
  • Cons
  • imited advanced trading features.
  • Lower trading volume than competitors

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Product selection

Native token

No
Token ASD

Earns

Yes
Yes

NFT marketplace

No
Yes

Cripto/debit card

No
Yes

Company information

Full name

First Ledger Corporation
AscendEX (formerly BitMax)

Regulation

Regulated by FINTRAC en Canadá
Not regulated

Year founded

2016
2018

Founder

Adam Goldman
George Cao and Ariel Ling

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Bitbuy FEATURES Ascendex
The minimum trade amount is reasonably low, making it accessible for beginners.
Minimum Trade
The minimum trade amount is reasonable, accommodating both small and larger investors.
Fees are relatively high compared to competitors, which could deter frequent traders.
Trading and Transaction Fees
Fees are competitive but could be improved to match or undercut major competitors.
Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
Limited to major cryptocurrencies, lacking diversity in trading pairs.
Crypto-to-Crypto Trading Pairs
Limited to more common pairs, lacking the extensive options found on larger platforms.
The website provides clear, easily accessible information on fees, policies, and trading options.
Website Transparency
The website provides clear and straightforward information on fees, policies, and trading options.
Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Credit/Debit Card
Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
Provides secure cold storage options, ensuring safety for digital assets.
Storage Offering
Provides secure cold storage options, ensuring a high level of security for stored assets.
Offers some staking options and rewards, though not as extensive as some other platforms.
Staking and Rewards
Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Both mobile and desktop platforms are user-friendly and well-designed.
Mobile App and Desktop
Offers functional mobile and desktop platforms, though they lack some advanced features.
Excellent customer service with quick response times and helpful support staff.
Customer Service
Responsive and helpful customer service, providing support through multiple channels.
Efficient deposit and withdrawal processes, though some limitations apply to methods and currencies.
Deposit and Withdraw
Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

Basic charting tools
Technical analysis tools, charting

Mobile APP

No
Yes

Security

High 4,6/5
High 4,6/5

Additional features

OTC trading, express trade option, institutional services, cold storage solutions
Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

No
No

Key points

Available cryptocurrencies

15+
150+

User-friendliness

Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.
AscendEX offers a well-designed and user-friendly platform that caters to both novice and experienced traders. The interface is intuitive, and the platform provides helpful resources to guide users through the trading process.

Value for money

Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.
Provides good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

Canada
United States, United Kingdom, Canada, Australia, Singapore

Best for

Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.
Great for both novice and experienced traders who want access to a variety of trading tools, low trading fees, and advanced features.

Base currencies available

CAD, BTC
USD, BTC, USDT

Account

Trading

Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.
Ascendex, formerly known as BitMax, offers comprehensive trading options including spot, margin, and futures trading. Its advanced trading tools are beneficial for seasoned traders. However, new users might find the platform’s complexity challenging initially.

Deposit and withdrawal

Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.
Ascendex offers diverse deposit and withdrawal methods including bank transfers, credit/debit cards, and crypto deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive.

Account opening process

Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.
Ascendex’s account opening is fully digital and quick. Users need to provide personal information and verify their identity. The process is streamlined and user-friendly, allowing for account approval typically within a day.

KYC required?

Yes
Yes

Customer Service

Bitbuy offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a drawback for some users.
Ascendex offers customer support through email, live chat, and a comprehensive FAQ section. The response time is quick, and support is available 24/7, ensuring users can get help whenever needed.

Security

Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.
Ascendex ensures security through 2FA, encryption, and cold storage. While the platform is secure, it is not regulated by top-tier authorities, which might be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Altcoin Trader for South African users new to the cryptocurrency market, given its user-friendly interface and robust security measures. While it offers a decent variety of cryptocurrencies and straightforward deposit and withdrawal processes, potential users should be aware of its limited crypto-to-crypto trading pairs and the absence of credit/debit card support. For those starting out or primarily trading in major cryptocurrencies, Altcoin Trader provides a solid platform to begin your investment journey securely.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Bitbuy and Ascendex