Comparison of Bitmex vs Ascendex [ 2024 ]

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

Your expert: Alejandro Borja

bitmex

Bitmex

Your expert: Xavier Tarrasó

altcoin trader

Ascendex

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5
0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.2 – Competitive fees with a focus on leveraged trading.
4.1 – Low trading fees with discounts for token holders.

Level

≤0,10%
0,10% /0,20%

Brief explanation

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.
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.

Bitmex

Ascendex

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Account Minimum

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Direct link to the website

Product selection

Native token

No
Token ASD

Earns

Yes
Yes

NFT marketplace

No
Yes

Cripto/debit card

No
Yes

Company information

Full name

HDR Global Trading Limited
AscendEX (formerly BitMax)

Regulation

Not regulated, enfrentó acciones legales en los EE. UU.
Not regulated

Year founded

2014
2018

Founder

Arthur Hayes, Ben Delo, Samuel Reed
George Cao and Ariel Ling

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Bitmex FEATURES Ascendex
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Minimum Trade
The minimum trade amount is reasonable, accommodating both small and larger investors.
BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Trading and Transaction Fees
Fees are competitive but could be improved to match or undercut major competitors.
While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
Crypto-to-Crypto Trading Pairs
Limited to more common pairs, lacking the extensive options found on larger platforms.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Website Transparency
The website provides clear and straightforward information on fees, policies, and trading options.
BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Credit/Debit Card
Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Storage Offering
Provides secure cold storage options, ensuring a high level of security for stored assets.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Staking and Rewards
Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Mobile App and Desktop
Offers functional mobile and desktop platforms, though they lack some advanced features.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Customer Service
Responsive and helpful customer service, providing support through multiple channels.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.
Deposit and Withdraw
Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features
Technical analysis tools, charting

Mobile APP

No
Yes

Security

High 4,9/5
High 4,6/5

Additional features

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy
Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

No
No

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies
150+

User-friendliness

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.
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 reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.
Provides good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
United States, United Kingdom, Canada, Australia, Singapore

Best for

Ideal for experienced traders interested in leveraged trading and advanced trading features.
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

BTC, USDT (for derivative products)
USD, BTC, USDT

Account

Trading

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.
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

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.
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

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.
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

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
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

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.
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?

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.
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.

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.

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