Learn more about AscendEx Token.
AscendEX Exchange General Information
AscendEX, formerly known as Bitmax, is a Chinese cryptocurrency exchange founded by George Cao, an investment expert who also touts a Ph.D. in computer science from the University of Chicago. The native token to the exchange, the ASD, is used in all things from staking, to governance, and facilitating lowered fees for holders of the token who stake large amounts of ASD. The company's goal is to provide an international exchange that offers trading services and investment opportunities into blue-chip and startup cryptocurrencies and tokens.
The rebranding from BitMax to AscendEX (and from BitMax Token to AscendEx Token) took place in May 2021.
The AscendEX native token, ASD, is the general governance and staking token on the exchange, and its holders can expect to receive a variety of advantages over other investors who don't hold the token. The main three advantages are,
- Staking opportunities: ASD holders can stake their tokens on the exchange for a variety of different advantages like reduced fees, inclusion into the AscendEX VIP group that offers specialty drops, and 6.27% APR on their stakes.
- Airdrops: ASD holders have access to airdrops and private sale auction drops that regular investors wouldn't be able to get in on.
- Fee reduction: ASD holders can access up to a 50% reduction in fees on the AscendEX platform.
As the exchange grows, ASD holders can rightly expect that the ASD token will also grow in utility and access to unique investment opportunities at the exchange. ASD can be purchased directly on the exchange.
Investors Accepted at AscendEX
AscendEX accepts investors from all over the world to purchase its ASD tokens as well as the roughly 200 other cryptocurrencies and tokens offered on the exchange. There are some countries, though, that are excluded from participating in the AscendEX ecosystem due to their political conditions, some notable ones include the USA, Somalia, Sudan, Syria, and Libya, which are not even on the list of countries available to choose from on the signup page of AscendEX. This is not due to any discrimination but rather legal complications, for example, US investors are off-limits to international companies unless they are registered with the US Securities and Exchange Commission. For investors from any of these countries who would like to purchase the ASD token, we suggest looking at Decentralized Exchanges (DEXs) as a viable alternative.
One of the major advantages of the ASD token is its versatility in granting holders access to fee reductions. For investors interested in margin trading on the AscendEX exchange, holding ASD will offer you fee reductions of up to 50% at the time of writing. For traders who plan on using the exchange for large trades, several times per day, the ASD token might be a very attractive offering considering the fee reductions offered.
Fee Discounts & Auctions
ASD holders also have the advantage of greatly reduced fees depending on their staked amount of ASD on the platform. Similar to Crypto.com, each level staked will unlock different advantages for holders. ASD staking will also allow you to participate in very unique auctions for startup cryptos so ASD stakeholders can purchase at rock-bottom prices before the coin/token is exposed to the general market to pick up. All in all, solid advantages for those interested in more speculative investment opportunities.