Comparison of Upbit vs Ascendex [ 2024 ]

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

Your expert: Alejandro Borja

Upbit

Your expert: Xavier Tarrasó

Ascendex

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.

4.1 – Low trading fees with discounts for token holders.

Level

≈ 0,20%/0,25%

0,10% /0,20%

Brief explanation

Upbit’s commission structure is designed to accommodate a range of trading volumes and styles, which makes it appealing for both high-volume traders and casual participants. The exchange typically employs a tiered fee system, where the trading fees decrease as the user’s monthly trade volume increases. This structure incentivizes frequent trading and larger transactions. However, it’s important for users to note that fees may vary depending on the market conditions and the specific cryptocurrencies being traded. Overall, Upbit’s fees are competitive within the industry but require users to stay informed about the specific details applicable to their trading activities.

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.

Upbit

Security methods: Upbit employs rigorous security protocols, including regular security audits and multi-factor authentication, which significantly minimize the risk of breaches and unauthorized access.
Reputation and Reviews: Since its inception in 2017, Upbit has maintained a strong reputation within the crypto community, especially in South Korea. Its partnerships and transparent practices contribute to its positive image among users.
Trading volume and liquidity: Upbit boasts one of the highest trading volumes among South Korean exchanges, providing users with high liquidity which is crucial for executing trades efficiently and at desirable prices.
Customer service: Upbit offers comprehensive customer support with various channels for communication, ensuring that users' issues and queries are addressed promptly and effectively.
Transparency: The platform is known for its transparent operational practices, such as providing clear information on fees and the regular publication of audit reports, which helps in building trust with its clientele.

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

Dunamu Inc.

AscendEX (formerly BitMax)

Regulation

Regulated in Corea del Sur

Not regulated

Year founded

2017

2018

Founder

Song Chi

George Cao and Ariel Ling

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Upbit	FEATURES	Ascendex
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.	Minimum Trade	The minimum trade amount is reasonable, accommodating both small and larger investors.
The fees are competitive but the structure can be complex and confusing for new users.	Trading and Transaction Fees	Fees are competitive but could be improved to match or undercut major competitors.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.	Crypto-to-Crypto Trading Pairs	Limited to more common pairs, lacking the extensive options found on larger platforms.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.	Website Transparency	The website provides clear and straightforward information on fees, policies, and trading options.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.	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 solutions, though it’s primarily an exchange, not a dedicated wallet service.	Storage Offering	Provides secure cold storage options, ensuring a high level of security for stored assets.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.	Staking and Rewards	Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.	Mobile App and Desktop	Offers functional mobile and desktop platforms, though they lack some advanced features.
Available and responsive, though some users report delays during peak times, which could be improved.	Customer Service	Responsive and helpful customer service, providing support through multiple channels.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.	Deposit and Withdraw	Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

Advanced charting tools, technical analysis

Technical analysis tools, charting

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps

Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

Key points

Available cryptocurrencies

200+

150+

User-friendliness

Upbit 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

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

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

Countries of operation

South Korea, Singapore, Indonesia, Thailand

United States, United Kingdom, Canada, Australia, Singapore

Best for

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with 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

KRW, BTC

USD, BTC, USDT

Account

Trading

Upbit is a major exchange in South Korea, offering a wide range of cryptocurrencies and high liquidity. It provides advanced trading tools but can be complex for beginners.

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

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, 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

Upbit offers an easy and quick account registration process. Users need to provide personal information 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

Upbit offers 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

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment 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 reviewing Upbit, I’d recommend this exchange for users interested in a wide variety of cryptocurrencies and robust trading options. Its comprehensive security measures and high liquidity make it a reliable choice, especially for traders who prioritize a secure trading environment. However, newcomers should take time to familiarize themselves with its interface and fee structure to fully leverage Upbit’s offerings effectively.

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 Upbit vs Ascendex [ 2024 ]

Upbit

Ascendex

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Upbit

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 Upbit and Ascendex