Comparison of Ascendex vs Bitbns [ 2024 ]

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

Your expert: Alejandro Borja

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

Your expert: Xavier Tarrasó

Bitbns

Bitbns

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

Investing risks losing your money

Main points

Fees

0,10% /0,20%

Earns

Yes

Customer service

4/5
0.25%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.1 – Low trading fees with discounts for token holders.
3.8 – Competitive fees with some additional costs for specific services.

Level

0,10% /0,20%
0.25%

Brief explanation

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.
Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

Ascendex

altcoin trader
Read ascendex 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

Read ascendex review

Bitbns

Bitbns
Read ascendex review
  • Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.
  • Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.
  • Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.
  • Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility
  • Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.
  • Pros
  • User-friendly interface for beginners.
  • Extensive security measures enhance trust.
  • Robust customer support system.
  • Cons
  • Relatively high trading fees.
  • Limited to Indian rupee transactions.

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Product selection

Native token

Token ASD
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

AscendEX (formerly BitMax)
Buyhatke Internet Private Limited

Regulation

Not regulated
Not regulated

Year founded

2018
2017

Founder

George Cao and Ariel Ling
Gaurav Dahake

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Ascendex FEATURES Bitbns
The minimum trade amount is reasonable, accommodating both small and larger investors.
Minimum Trade
Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
Fees are competitive but could be improved to match or undercut major competitors.
Trading and Transaction Fees
Fees are competitive within the Indian market, but can be considered high internationally.
Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
Number of Cryptocurrencies
Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
Limited to more common pairs, lacking the extensive options found on larger platforms.
Crypto-to-Crypto Trading Pairs
Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
The website provides clear and straightforward information on fees, policies, and trading options.
Website Transparency
The website provides clear information on fees, trading processes, and security measures.
Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
Credit/Debit Card
Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Provides secure cold storage options, ensuring a high level of security for stored assets.
Storage Offering
Provides secure cold storage options, enhancing the safety of digital assets.
Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Staking and Rewards
Offers competitive staking options and rewards, encouraging user participation and investment.
Offers functional mobile and desktop platforms, though they lack some advanced features.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Responsive and helpful customer service, providing support through multiple channels.
Customer Service
Excellent customer service with multiple channels for support and quick response times.
Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Technical analysis tools, charting
Basic charting tools

Mobile APP

Yes
No

Security

High 4,6/5
High 4/5

Additional features

Margin trading, futures contracts, staking, AscendEX Earn program
Margin trading, futures trading, staking, SIP investment plans

Anonymity

No
No

Key points

Available cryptocurrencies

150+
90+

User-friendliness

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.
Bitbns is known for its simple and user-friendly interface. It is designed to make cryptocurrency trading accessible to everyone, including those who are new to the market.

Value for money

Provides good value for money, offering low trading fees and access to a variety of trading tools and features.
Provides good value for money with low trading fees and a wide range of supported cryptocurrencies, making it an affordable choice for traders.

Countries of operation

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

Best for

Great for both novice and experienced traders who want access to a variety of trading tools, low trading fees, and advanced features.
Ideal for Indian investors and others looking for a cost-effective platform with low trading fees and a wide range of cryptocurrencies.

Base currencies available

USD, BTC, USDT
INR, USDT

Account

Trading

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.
Bitbns is a good platform for Indian users, offering a wide range of cryptocurrencies and easy fiat integration. Its trading fees are competitive, but it lacks some advanced features and tools available on larger exchanges.

Deposit and withdrawal

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.
Bitbns offers bank transfers and cryptocurrency deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

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.
Bitbns has a straightforward account opening process. Users need to submit personal information, verify their identity, and address. The process is efficient and usually takes less than a day, making it accessible for new users.

KYC required?

Yes
No

Customer Service

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.
Bitbns provides support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users in India and beyond.

Security

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.
Bitbns employs comprehensive security measures, including 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

View all comparisons against Ascendex

View all comparisons against Bitbns

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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