Anyone ever able to withdraw from Ascendex?

[vanhalendlrband]

Just curious as ive never used them waiting to withdraw over 30 hours waiting for a review when i was asked only to verify and i did still taking over 30 hours.

Has anyone else used them?

[Mrbluntzy]

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

[vanhalendlrband]

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

[Mrbluntzy]

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

oops, now i get to understand why you decided to use such exchange which is not among the tier 1 exchange.  Since they have asked you to wait for 72 hours, you will just have to exercise patients for the manual review to be done, until you get a feedback from them after the 72hrs before you can know your next line of action.

That's one problem with centralized platforms, I feel sorry for the inconvenience this must have caused you.

edit

Have you also confirmed that Zcash leverage trade has also been suspended on kraken and bitget exchange?

[Potato Chips]

Unfortunately, these kind of exchange can always bring up the KYC card, and halt everything until they're done checking.

Manual review would take more time as oppose to automated verification where majority of users in general go through. Usually, manual reviews are done to special cases. Hopefully they get to uphold the "up to 72 hours" and it won't be delayed cause I've seen delays in various CEX before.

On another note, I don't think they're actually licensed to operate in Canada? or am I wrong?

[logfiles]

I have not even head of the exchange

The reason you have never heard of it is probably because they rebranded. Initially, the exchange was known as BitMax. Most traders knew about it even during the time of rebranding.


@vanhalendlrband, they told you to wait for up to 72 hours, but just after 30 hours you are already complaining. Why can't you wait up to the time they stated?
Manual review of KYC can take days as your details are not the only ones being reviewed. Leave them to do their work, and then you will complain later if you are not worked on. They have at least tried to give you the ETA

[vanhalendlrband]

I have not even head of the exchange

The reason you have never heard of it is probably because they rebranded. Initially, the exchange was known as BitMax. Most traders knew about it even during the time of rebranding.


@vanhalendlrband, they told you to wait for up to 72 hours, but just after 30 hours you are already complaining. Why can't you wait up to the time they stated?
Manual review of KYC can take days as your details are not the only ones being reviewed. Leave them to do their work, and then you will complain later if you are not worked on. They have at least tried to give you the ETA

If thats normal then im ok with the 48-72 hours. Just was wondering if anyone else has used them and if that is standard for them not really a complaint was just hoping this was standard procedure actually.

[vanhalendlrband]

Unfortunately, these kind of exchange can always bring up the KYC card, and halt everything until they're done checking.

Manual review would take more time as oppose to automated verification where majority of users in general go through. Usually, manual reviews are done to special cases. Hopefully they get to uphold the "up to 72 hours" and it won't be delayed cause I've seen delays in various CEX before.

On another note, I don't think they're actually licensed to operate in Canada? or am I wrong?

it is available in Canada i registered and verified from Canada. It is also in their list of supported regions

[vanhalendlrband]

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

oops, now i get to understand why you decided to use such exchange which is not among the tier 1 exchange.  Since they have asked you to wait for 72 hours, you will just have to exercise patients for the manual review to be done, until you get a feedback from them after the 72hrs before you can know your next line of action.

That's one problem with centralized platforms, I feel sorry for the inconvenience this must have caused you.

edit

Have you also confirmed that Zcash leverage trade has also been suspended on kraken and bitget exchange?

if its like a standard procedure for 48-72 hours then im ok with that wanted to see who else has used them as well and if they knew if this was normal for this exchange or not

[rat03gopoh]

if its like a standard procedure for 48-72 hours then im ok with that wanted to see who else has used them as well and if they knew if this was normal for this exchange or not

Manual reviews for large withdrawals are normal for centralized services, although from customer perspective, it's still frustrating to wait for them to release my money. This might be a bigger question if multiple users report the same thing simultaneously.

The problem is, they likely have multiple trigger levels depending on the size of your funds, which affects the review duration. I think you should start some fusses on any public media (where they can reach) if they exceed their self-imposed deadlines.

[vanhalendlrband]

if its like a standard procedure for 48-72 hours then im ok with that wanted to see who else has used them as well and if they knew if this was normal for this exchange or not

Manual reviews for large withdrawals are normal for centralized services, although from customer perspective, it's still frustrating to wait for them to release my money. This might be a bigger question if multiple users report the same thing simultaneously.

The problem is, they likely have multiple trigger levels depending on the size of your funds, which affects the review duration. I think you should start some fusses on any public media (where they can reach) if they exceed their self-imposed deadlines.

yeah see what happens about 12 and a half hours to go

[Darker45]

~snip~

~snip~

yeah see what happens about 12 and a half hours to go

I don't think it's wise to be too literal when it comes to the timelines provided by exchanges' support. When they mention 48 to 72 hours, it could actually easily go 96, 120 hours, even weeks and months. There's actually no point trusting the words of exchanges. If even their guarantee of users' safety of funds they can't keep, what more about hourly timelines? I hope I'll be proven wrong within hours.

Anyway, I also doubt Ascendex is registered in Canada. I doubt they're regulated under FINTRAC or CSA, or at least I couldn't find their name in the official sites.

[vanhalendlrband]

~snip~

~snip~

yeah see what happens about 12 and a half hours to go

I don't think it's wise to be too literal when it comes to the timelines provided by exchanges' support. When they mention 48 to 72 hours, it could actually easily go 96, 120 hours, even weeks and months. There's actually no point trusting the words of exchanges. If even their guarantee of users' safety of funds they can't keep, what more about hourly timelines? I hope I'll be proven wrong within hours.

Anyway, I also doubt Ascendex is registered in Canada. I doubt they're regulated under FINTRAC or CSA, or at least I couldn't find their name in the official sites.

I know its on their list of allowed countries on Ascendex and i had verified with my Canadian ID selecting Canada from their drop down menu and passed the verification fine.

They seem to be listing lots of new coins too and lots of promotions. They got a 7 year anniversary giveaway and theyre like one of the tops for volume on zcash perpetuals

How long do you think i should wait and are there any other steps to take?

[FinneysTrueVision]

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

Zcash has been available on Hyperliquid since last month. Being blockchain based, it might not be as streamlined of an experience as using a traditional centralized exchange, but it has the benefit of not having KYC requirements.

The reviews for AscendEX on Trustpilot are overwhelmingly bad. If you are able to recover your funds, it would probably be best to stop using them.

[albon]

The reviews for AscendEX on Trustpilot are overwhelmingly bad. If you are able to recover your funds, it would probably be best to stop using them.

OMG, the platform received a one-star rating with 81% negative reviews!
Although I don't rely entirely on Trustpilot, this should definitely be taken into consideration.

I also found that a warning was issued on May 30, 2024, by the FCA stating that the platform is not authorized and is unlicensed by them. [Source]

Many of the reviews I found complain that the platform prevented them from making withdrawals and froze their accounts. They also reported unreasonable delays in resolving their issues. The OP will be lucky if he manages to withdraw his funds after they complete the manual review process and respond to his message.

[vanhalendlrband]

The reviews for AscendEX on Trustpilot are overwhelmingly bad. If you are able to recover your funds, it would probably be best to stop using them.

OMG, the platform received a one-star rating with 81% negative reviews!
Although I don't rely entirely on Trustpilot, this should definitely be taken into consideration.

I also found that a warning was issued on May 30, 2024, by the FCA stating that the platform is not authorized and is unlicensed by them. [Source]

Many of the reviews I found complain that the platform prevented them from making withdrawals and froze their accounts. They also reported unreasonable delays in resolving their issues. The OP will be lucky if he manages to withdraw his funds after they complete the manual review process and respond to his message.

I find trustpilot says that about every exchange. theyre running a 7 year anniversary giveaway right now even listing coins and lots of promotions. I find every exchange has an issue of suspended users, its like 10-30% for like all the exchanges so its hard to trust trustpilot too

Poloniex has bad reviews but ive used them since 2016 without issue withdrawing or anything like that for example

[vanhalendlrband]

My withdraw was rejected without explanation

Ive tried to contact support again but no response.

[vanhalendlrband]

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

oops, now i get to understand why you decided to use such exchange which is not among the tier 1 exchange.  Since they have asked you to wait for 72 hours, you will just have to exercise patients for the manual review to be done, until you get a feedback from them after the 72hrs before you can know your next line of action.

That's one problem with centralized platforms, I feel sorry for the inconvenience this must have caused you.

edit

Have you also confirmed that Zcash leverage trade has also been suspended on kraken and bitget exchange?

i dont believe you can use those exchanges in Canada unless im mistaken. Kraken also has very little in orders on their futures of zec could easily spike wick the wrong way on there but may have been why i didnt use kraken. Ascendex trades millions a day in zec it seems on their futures

[Mrbluntzy]

My withdraw was rejected without explanation

From your previous comment above, you said you have done some verification (you submitted your ID) on the exchange and if your account is not blocked, then the withdrawal should go through, unless the exchange is being operated by scammers. I checked their x handle and they are active with 263k followers, so I have 2 suggestions to give you.
1;  I don't know the coin and with which blockchain network you carried out the first withdrawal but my suggestion is that you should convert the coin to a different coin and submit another withdrawal using a different blockchain network.
2; Create account on X and send them a DM with proof of your claims.

Ive tried to contact support again but no response.

Did you do that with the option of "submit a request? " If you said no, then you should raise your complaints via their "submit a request option, but if that's what you did already, just take the 2 suggestions I made.

[FinneysTrueVision]

I find trustpilot says that about every exchange. theyre running a 7 year anniversary giveaway right now even listing coins and lots of promotions. I find every exchange has an issue of suspended users, its like 10-30% for like all the exchanges so its hard to trust trustpilot too

Poloniex has bad reviews but ive used them since 2016 without issue withdrawing or anything like that for example

Poloniex went downhill a long time ago. Since they were acquired by Justin Sun they have only gotten worse. Maybe you’ve been unaffected but their reputation isn’t all that great.

I don’t find Trutpilot to be all that reliable either, but what people are saying matches up with what is said on Reddit, which is a much better source.

https://www.reddit.com/search/?q=ascendex