Tux cryptocurrency Exchange has closed down its trading as of July 6th, 2019. The reason is still unclear though the company cites “unfavorable conditions” and a “lack of trading volume” as the key reasons for this sudden decision.
About Tux exchange
Tux is a crypto-to-crypto exchange based in Ontario, Canada. Tux exchange cryptocurrencies do not support the tradition currency flow. Named after the tuxedo cat, the company started in August 2016. Tux is also hosted on Amazon’s AWS platform. Registration on Tux is free of cost but transaction cost is applicable. Upon registration, the user gets free DOGE coins.
Features of Tux exchange
The platform is known for its diversity in trading currencies such as Litecoin, Ethereum, Dogecoin, Peercoin, Dash, Namecoin, Zcash, Emercoin, Potcoin, Blackcoin, Syscoin, Counterparty, Golem, Iconomi and PEPECASH that can trade against Bitcoin.
The platform has currently no affiliations from any other exchange or a reputation organization. The company is operational 24*7. The trading engine is fast and reliable. The exchange operates internationally and is involved in universal transactions. The platform offers the feature of spot trading for Bitcoin and other currencies.
Tux is also a highly secure platform. Regulating digital assets is difficult. Thus, company follows strict compliance and protects the trader’s account using advanced security system.
According to Tux reviews, it uses DDoS mitigation system for protecting the servers. Most of the digital currency is stored in cold storage thus protecting it against any cyber criminal activity or a virus. In hot storage a very limited currency is stored, enough to make active transactions.
The company also follows the security system of two-factor authentication. A user can download Google authenticator and scan the QR code of his Tux account. Once the account is synced with Google, a user would get 6-digit code every time he tries to log in. This adds an additional layer of safety, which is very essential when it comes to digital assets.
Tux is powered by Amazon web services and cloudfare. The maker fee at Tux is 0% while the taker fee is 0.3%. Thus, Tux is a great platform when it comes to trading and exchange.
How to set up a new Tux account?
In order to setup a new account, a user can log on to website. Click on the “register” tab and enter the details such as email ID, username and password. A verification email is sent to the registered email ID. A user can click on the given link to activate the account. Once again the user has to log in to access the wallet.
Tux Market & Bitcoin Wallet
Click on “Bitcoin wallet” tab and select the currency of choice for making an withdrawals and deposits. The address of the deposit is already present in the box. There is also a balance sheet that shows the users orders and investments he has made so far. It also updates the remaining balance available in the wallet.
Click on the “market” tab. It shows the list of all the available cryptocurrencies. A user can select the desired currency for trade, buy/sell. It shows the time interval in minutes, hours, and day, which give a clear picture of the current market value.
A graph also shows the current bid on the selected currency to give insights to the users. The user can select the amount for the buying or selling. While doing so, a user can also browse the market history tool for relevant information.
Tux API Documentation
A user can also access API through http post and JSON formatted data response. There are two different access method i.e. public API and authenticated API. There are also two keys available one is public and other is private key. The address of both the keys are available. Thus, for exchange, buy/sell the user can go through API documentation rather than using the online platform.