How to use AscendEX exchange? Detailed usage tutorial

With its comprehensive guide, AscendEX empowers traders to leverage its user-friendly platform, competitive fees, and advanced trading features to maximize their trading potential.

Nov 22, 2024 at 07:50 pm

How to Use AscendEX Exchange: A Comprehensive Guide

Introduction
AscendEX, formerly known as BitMax, is a highly rated cryptocurrency exchange that offers a wide range of trading options, including spot trading, margin trading, and derivatives. With its user-friendly interface, competitive fees, and robust security measures, AscendEX has become a popular choice for both beginner and experienced traders. This guide will provide you with a step-by-step tutorial on how to use the AscendEX exchange effectively, enabling you to navigate its features and maximize your trading potential.

Step 1: Create an Account
a) Visit the AscendEX website (https://ascendex.com/) and click on the "Sign Up" button.
b) Enter your email address and choose a password that meets the complexity requirements.
c) Read and accept the Terms of Service and Privacy Policy.
d) Click on "Get Code" to receive a verification code via email.
e) Enter the verification code and click on "Sign Up."
f) Your AscendEX account is now created.

Step 2: Enable 2-Factor Authentication (2FA)
To enhance the security of your account, it is highly recommended to enable 2-Factor Authentication (2FA). This provides an additional layer of protection against unauthorized access.
a) Log in to your AscendEX account.
b) Go to the "Security" section under your profile settings.
c) Select "Enable Google Authenticator" or "Enable SMS Authentication."
d) Follow the on-screen instructions to complete the 2FA setup.

Step 3: Deposit Funds
a) Log in to your AscendEX account.
b) Click on the "Assets" tab.
c) Select "Deposit" and choose the cryptocurrency you wish to deposit.
d) Copy the deposit address provided.
e) Transfer the funds from your external wallet or exchange to the AscendEX deposit address.
f) Once the deposit is confirmed by the network, it will be credited to your AscendEX account.

Step 4: Place a Trade
a) Log in to your AscendEX account.
b) Click on the "Trade" tab.
c) Select the trading pair you want to trade (e.g., BTC/USDT).
d) Choose an order type: "Market," "Limit," or "Stop-Limit."
e) Enter the order details, including the quantity and price (if applicable).
f) Review the order information and click on "Buy" or "Sell" to place the order.

Step 5: Manage Your Trades
a) Log in to your AscendEX account.
b) Click on the "Orders" tab to view your current and historical orders.
c) Track the status of your orders, including "Open," "Filled," and "Canceled."
d) Modify or cancel orders as needed.

Step 6: Withdraw Funds
a) Log in to your AscendEX account.
b) Click on the "Assets" tab.
c) Select "Withdraw" and choose the cryptocurrency you wish to withdraw.
d) Enter the withdrawal address and the amount you want to withdraw.
e) Review the withdrawal information and click on "Confirm" to initiate the withdrawal.
f) Confirm the transaction by entering the verification code sent to your email or SMS.

Step 7: Use Advanced Trading Features
a) Margin Trading: Allows you to trade with borrowed funds, increasing your potential profits but also risks.
b) Derivatives: Provides access to futures and options contracts for advanced hedging and speculation strategies.
c) Over-the-Counter (OTC) Trading: Facilitates large-volume trades directly between buyers and sellers, bypassing the regular exchange order book.