Comparison of Independent Reserve vs Ascendex [ 2024 ]

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

Your expert: Alejandro Borja

Independent Reserve

Your expert: Xavier Tarrasó

Ascendex

Main points

Fees

≤0,50%

Earns

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.

4.1 – Low trading fees with discounts for token holders.

Level

≤0,50%

0,10% /0,20%

Brief explanation

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average.

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.

Independent Reserve

Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability.
Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support.
Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users.
Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter.
Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities.

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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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token ASD

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Independent Reserve Pty. Ltd.

AscendEX (formerly BitMax)

Regulation

Regulated in Australia

Not regulated

Year founded

2013

2018

Founder

Adam Tepper

George Cao and Ariel Ling

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Independent Reserve	FEATURES	Ascendex
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.	Minimum Trade	The minimum trade amount is reasonable, accommodating both small and larger investors.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.	Trading and Transaction Fees	Fees are competitive but could be improved to match or undercut major competitors.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.	Crypto-to-Crypto Trading Pairs	Limited to more common pairs, lacking the extensive options found on larger platforms.
The website is user-friendly and transparent about fees, regulations, and available services.	Website Transparency	The website provides clear and straightforward information on fees, policies, and trading options.
Independent Reserve does not offer a 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.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.	Storage Offering	Provides secure cold storage options, ensuring a high level of security for stored assets.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.	Staking and Rewards	Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.	Mobile App and Desktop	Offers functional mobile and desktop platforms, though they lack some advanced features.
Customer service is responsive, though there is room for improvement in speed and availability during peak times.	Customer Service	Responsive and helpful customer service, providing support through multiple channels.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.	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

Yes

Security

High 4,6/5

Additional features

OTC trading, SMSF services, staking, insurance options

Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

Key points

Available cryptocurrencies

20+

150+

User-friendliness

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary 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

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Provides good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

Australia, New Zealand, Singapore

United States, United Kingdom, Canada, Australia, Singapore

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

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

AUD, NZD, USD, BTC

USD, BTC, USDT

Account

Trading

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

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

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive 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

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually 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

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

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

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for 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 an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

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.

Comparison of Independent Reserve vs Ascendex [ 2024 ]

Independent Reserve

Ascendex

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Independent Reserve

Ascendex

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Independent Reserve and Ascendex