Tux Exchange Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Tux Exchange consists of four parts: general information, fees, deposit methods and security.
UPDATE 20 July 2019: This exchange closed down its operations on 6 July 2019. The exchange stated that it was largely due to “unfavorable regulatory conditions”. This was the message through Tux Exchange announced their closure:
Tux Exchange is a Canadian cryptocurrency exchange. As such, it’s in good company. Canada is not one of the biggest homes of cryptocurrency exchanges, but it has a few really good ones, such as LinkCoin and EzBtc.
Tux Exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Tux Exchange Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Tux Exchange. The picture is divided into two print screens, one featuring the trading view and the other featuring market detph and buy & sell orders. If you prefer to have all these features in the same trading view, this exchange’s set-up is not for you.
Tux Exchange Fees
Tux Exchange Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
Tux Exchange’s trading fees for takers are 0.30%. This fee is roughly in line with the industry average. The industry average is arguably around 0.25%. However, Tux Exchange’s really competitive offering is that they don’t charge the makers any fees. This is of course particularly interesting to you if you most often act as a maker, i.e. someone who places orders not immediately matching orders in the order book.
Tux Exchange Withdrawal fees
Tux Exchange charges a withdrawal fee amounting to 0.0007 BTC when you withdraw BTC. This fee is below the industry average and also constitutes an advantage against the majority of other top crypto exchanges in the market.
This exchange does not accept any deposits of fiat currency. This means that new cryptocurrency investors, i.e., investors without any previous holdings of cryptocurrencies, can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!
Tux Exchange Security
Tux Exchange’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). As you can imagine from the grade (F is usually not a good grade), this is below industry average when it comes to top crypto exchanges.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: