Comparison of Coinmama vs Ascendex [ 2024 ]

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

Your expert: Alejandro Borja

Coinmama

Investing risks losing your money

Your expert: Xavier Tarrasó

Ascendex

Investing risks losing your money

Main points

Fees

≤3,99%

Earns

Yes

Customer service

3/5

0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.5 – Higher fees but a simple and straightforward buying process.

4.1 – Low trading fees with discounts for token holders.

Level

≤3,99%

0,10% /0,20%

Brief explanation

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

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.

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

Read coinmama review

Ascendex

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.

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Product selection

Native token

Token ASD

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Cmama Ltd.

AscendEX (formerly BitMax)

Regulation

Registrado como empresa de servicios monetarios en los EE. UU.

Not regulated

Year founded

2013

2018

Founder

Asaph Schulman

George Cao and Ariel Ling

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinmama	FEATURES	Ascendex
Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.	Minimum Trade	The minimum trade amount is reasonable, accommodating both small and larger investors.
While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.	Trading and Transaction Fees	Fees are competitive but could be improved to match or undercut major competitors.
Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.	Crypto-to-Crypto Trading Pairs	Limited to more common pairs, lacking the extensive options found on larger platforms.
The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.	Website Transparency	The website provides clear and straightforward information on fees, policies, and trading options.
Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.	Storage Offering	Provides secure cold storage options, ensuring a high level of security for stored assets.
Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.	Staking and Rewards	Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.	Mobile App and Desktop	Offers functional mobile and desktop platforms, though they lack some advanced features.
Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.	Customer Service	Responsive and helpful customer service, providing support through multiple channels.
Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.	Deposit and Withdraw	Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

No trading tools, primarily a buying platform

Technical analysis tools, charting

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

Key points

Available cryptocurrencies

10+

150+

User-friendliness

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential features easily accessible.

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

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

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

Best for beginners who want a simple and straightforward buying process, despite higher 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

USD, EUR, GBP, AUD, CAD

USD, BTC, USDT

Account

Trading

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks advanced trading features.

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

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

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

Coinmama provides an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

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

Customer Service

Coinmama provides customer support through email and live chat. The support team is responsive, but the lack of 24/7 support 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

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some 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

As one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

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.