AAX is a centralized cryptocurrency exchange (CEX) powered by the London Stock Exchange Group (LSEG). Founded in 2018, it offers spot and derivatives markets, direct cryptocurrency purchases, and staking. In addition to the AXX crypto exchange, users can also access gamified finance (GameFi) features.
The platform is KYC-compliant and requires all users to complete one of the 2 ID verification levels. The AAX spot and derivatives markets, as well as other services, are restricted in some countries, including Mainland China, Egypt, Bosnia, and Cuba. The service is also inaccessible in Canada (Quebec and Ontario) and the USA.
Markets
The AAX exchange supports crypto-crypto trading only. However, stablecoins like USDT and USDC are supported. Furthermore, you can purchase digital assets using fiat currencies. Overall, there are more than 250 AAX trading pairs available. The platform is optimized for both individual and institutional traders.
Like many cryptocurrency exchanges, AAX hosts its native asset, the AAX Token (AAB). The asset can be earned as a staking reward and used to receive transaction discounts. You can learn more about the AAX crypto price and token market performance here.
Users that wish to participate in AAX trading have to complete level 1 or level 2 verification. Level 1 verification requires an ID card and grants access to peer-to-peer (P2P) trading and Quick Buy/Sell. Level 2 KYC requires proof of residency documents, allowing users to deposit and withdraw funds.
There are three main trading options – the AAX spot, margin, and futures markets. The spot market uses LSEG Technology’s matching engine to optimize trading times. Margin traders can trade with up to 3x leverage.
Additionally, users can engage in P2P trading by buying directly from other merchants. Customers can also purchase crypto assets via third-party gateways.
The derivatives markets offer perpetual futures contracts with up to 100x leverage. There are two types of futures contracts:
There are separate fee rates for spot, margin, and futures trading. Over-the-counter (OTC) traders that handle large transactions are eligible for custom rates upon request. All AAX crypto price values are denominated in USDT for traders’ convenience.
The AAX exchange fees are based on a multi-tier, maker-taker model. There are ten tiers in total, going from the base VIP 0 level to VIP 9. The default maker-taker fees at VIP 0 are 0.1% and 0.15%, respectively. Users that hold up to 2,000 AAB can have a discounted rate of 0.08% for makers and 0.12% for takers.
The VIP tiers are determined by the 30-day AAX trade volume or the AAB holdings in the user’s wallet. The fees are reduced proportionally as the volume and token holdings increase. VIP9 requires a trading volume of at least
Some AAX trading pairs fall under the Innovation category. These pairs have a fixed maker-taker fee rate at all VIP levels at 0.1% and 0.15%, respectively. Innovation Zone users cannot have their fees deducted using their AAB holdings.
AAX crypto fees for margin trading also follow the same VIP structure. Margin traders do not receive AAB holding reductions. The base maker-taker rate at VIP- is 0.1% and 0.15%, respectively.
VIP0 derivatives traders pay maker-taker fees of 0.04% and 0.06%, respectively, regardless of their selected contracts. The VIP tier is determined by the AAX volume and AAB holdings. Futures traders may be eligible for AAB reduction fee rates. At VIP0, AAB can reduce the maker fees down to 0.032% and taker fees to 0.048%.
There are no deposit fees on the AAX crypto exchange. The withdrawal fees are asset-specific and subject to change. There is a minimum required withdrawal amount set for all listed assets. All prices are presented in the withdrawn currency.
Other Services
In addition to the AAX cryptocurrency exchange, customers can also access other decentralized finance (DeFi) services. These include more traditional options, such as staking and investing, as well as Game-Fi tools that enable crypto earning via decentralized gaming.
The Quick Buy/Sell feature on the AAX crypto exchange enables one-click purchases using crypto and fiat currencies. It supports popular payment methods, such as debit and credit cards and international wire transfers. More than 20 fiat currencies are available as valid payment options.
AAX Savings is a digital cryptocurrency savings account. It allows users to invest their assets to earn rewards over time. The lock-up period may be adjustable for some assets. AAX cryptocurrency exchange users can choose between a fixed or flexible contract.
AAX Staking supports single and dual coin staking. The initial AAX crypto price for investment is asset-specific. Users can select a fixed or flexible contract. The service is free from gas or commission fees.
AAX Battle is a GameFi service that enables crypto earning via betting. Users can observe the market trends and select whether they think it will be bullish or bearish. The Battle platform uses auto-settlement and does not charge service fees. Users can also participate in various blockchain mini-games to win crypto rewards.
AAX Launchpad is a platform that supports new and upcoming blockchain projects. Users can participate in fundraising events and ticket lotteries. As a reward, they can receive new token airdrops. Some fundraisers require qualifications, such as a minimum investment amount in a specified cryptocurrency.
Developers can access the AAX crypto exchange API documentation. It’s an open-source toolkit that provides access to live market data, positions, and order status.
About the Company
The AAX crypto exchange was founded by Thor Chan in Hong Kong in 2018. The official launch occurred in November 2019 after 18 months of research and development. AAX is short for Atom Asset Exchange. The company is currently registered in Seychelles.
Since its launch, the company has been powered by the London Stock Exchange Group. It’s considered the first exchange to use the matching engine created by LSEG Technology which is used by traditional bourses. According to the company, this technology can increase Bitcoin trading times tenfold.
According to an August 2022 report, AAX briefly became the biggest spot exchange in the world in July of that year. That month, the AAX trade volume reached $57.2 billion, increasing by 26.5% compared to the previous month.
Thor Chan is the former CEO of the AAX crypto exchange. He formerly acted as the Deputy COO at FDT Group. Chan also worked as a developer of low-latency trading systems. It was announced in December 2021 that Chan would step away from his role as the CEO but remain part of the Board of Directors.
