Comparison of Coinstore vs Ascendex [ 2024 ]

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

Your expert: Alejandro Borja

coinstore

Coinstore

  • Threenvest valuation: 4/5
  • US legal: Yes
  • Security: High 4,9/5
  • 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

No

Customer service

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

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for high-volume trading.
4.1 – Low trading fees with discounts for token holders.

Level

0.20%
0,10% /0,20%

Brief explanation

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.
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.

Coinstore

coinstore
Read coinstore review
  • Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access​​.
  • Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation​​.
  • High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders​​.
  • Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore​​.
  • Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency​​.
  • Pros
  • Supports spot and futures trading.
  • Strong mobile app functionality.
  • Robust cold storage security measures.
  • Cons
  • No fiat currency support.
  • Limited advanced trading tools.

Read coinstore review

Ascendex

altcoin trader
Read coinstore 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

No
Yes

NFT marketplace

No
Yes

Cripto/debit card

No
Yes

Company information

Full name

Unknown
AscendEX (formerly BitMax)

Regulation

Not regulated
Not regulated

Year founded

2021
2018

Founder

Unknown
George Cao and Ariel Ling

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Coinstore FEATURES Ascendex
Minimum trade amount details not specified but low barrier to entry.
Minimum Trade
The minimum trade amount is reasonable, accommodating both small and larger investors.
0.2% fee for spot trading, and 0.025%-0.06% for futures .
Trading and Transaction Fees
Fees are competitive but could be improved to match or undercut major competitors.
Supports 96 tokens and 94 trading pairs .
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
94 trading pairs available .
Crypto-to-Crypto Trading Pairs
Limited to more common pairs, lacking the extensive options found on larger platforms.
Lacks detailed information on some aspects, like withdrawal fees .
Website Transparency
The website provides clear and straightforward information on fees, policies, and trading options.
Coinstore does not provide an exchange card for in-store purchases.
Credit/Debit Card
Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
70% of assets stored in cold storage, AES-256 encryption used .
Storage Offering
Provides secure cold storage options, ensuring a high level of security for stored assets.
No dedicated staking program mentioned .
Staking and Rewards
Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Full-featured mobile app for Android and iOS available .
Mobile App and Desktop
Offers functional mobile and desktop platforms, though they lack some advanced features.
Provides 24-hour chat service but lacks direct phone support .
Customer Service
Responsive and helpful customer service, providing support through multiple channels.
Only supports crypto deposits and withdrawals, no fiat support .
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 4,9/5
High 4,6/5

Additional features

Margin trading, futures trading, staking, Coinstore Launchpad
Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

Yes
No

Key points

Available cryptocurrencies

50+
150+

User-friendliness

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
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

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.
Provides good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

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

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
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

USDT, BTC
USD, BTC, USDT

Account

Trading

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major 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

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.
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

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.
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?

No
Yes

Customer Service

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation 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

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.
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 can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.
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 Coinstore and Ascendex