Jaxx multi-coin wallet review – October 2020
As a new cryptocurrency wallet, Jaxx has seen some bad press lately. But beyond the headlines is an ambitious platform that offers access to the world’s biggest cryptos.
Jaxx is a relatively new cryptocurrency wallet with one main goal: To simplify the blockchain and attract the masses to its unique value proposition.
To achieve this goal, the developers at Jaxx have designed a beautiful platform that provides access to the world’s leading cryptocurrencies. They’ve done this by paying special attention to the user experience.
The result is an easy-to-use platform that is designed to work and sync across all your devices – mobile, desktop and everything in between.
|Product Name||Jaxx Liberty wallet|
|Supported Cryptocurrencies||BTC, ETH, DASH, ETC, BCH, REP, LTC, ZEC, RSK, DGE, ICN, GNT, GNO, DGD, BCAP, CVC, STX, POE, MCI, QTUM, CFI, ART, PAY & 55+ more|
What is Jaxx Wallet?
Jaxx has many defining features, but none more than the following:
- Cross-platform pairing
- Multi-coin support
- Integration of ShapeShift, an exchange that supports dozens of cryptos
Jaxx is a multi-chain wallet that offers support for seven different cryptocurrency assets. If you’re new to the cryptocurrency space, you’ll be happy to know that Jaxx gives you access to the world’s biggest cryptos by market cap.
All these features are designed with the beginner in mind. Whether on mobile or desktop, your experience with Jaxx is likely to be smooth and intuitive.
Jaxx is available on nine different platforms, including the following:
- Windows, Apple and Linux desktop
- Android and iOS mobile and tablet
- Google Chrome and Firefox extensions
It’s also designed to work and sync across all your devices.
How much does it cost?
Jaxx can be downloaded to your desktop or mobile device for free. Like other wallets, Jaxx applies transaction fees, which go to the networks that run the cryptocurrency you are trading.
For example, every standard Ethereum transaction is charged a fee of .000441 ETH. A similar fee also applies to bitcoin and the other cryptocurrencies.
Jaxx does not pocket these fees. They go straight to the network. That means they are subject to change based on the state of the network.
If you’re wondering, Jaxx makes money by facilitating ShapeShift transactions.
Which currencies can I store?
Jaxx supports a wide range of coins and is adding more all the time.
- Ethereum Classic
How do I add currency to my wallet?
Jaxx users can manage their tokens right in their wallets via ShapeShift. This feature allows you to quickly convert between bitcoin, Ethereum and DAO, and will also work for whatever coins the Jaxx developers integrate in the future.
In addition to holding several different cryptocurrencies, Jaxx also lets you hold regular, fiat currencies.
How do I make or receive payments with my Jaxx Wallet?
To receive payments via Jaxx, the sender needs to have your cryptocurrency address. Alternatively, they can scan your public key’s QR code.
Once the sender has your address, they can send you the funds.
To send payments to someone else via Jaxx, you need to have their cryptocurrency address. For example, if you want to send bitcoin to someone, you’ll need their bitcoin address.
If you’re using Jaxx on a mobile device, you can scan the sender’s QR code if they provided you with one. The scan feature is not available on desktop, which means the address must be inputted manually.
After inputting the address, specify the amount and currency you wish to send, then click “Send.”
How secure is Jaxx Wallet?
Jaxx gives you “permissionless access” to your cryptocurrency. It requires no information or verification. In other words, it does not collect any information about you on signup.
In keeping with the Jaxx philosophy, all cryptocurrency keys are created and held on your local device. This means you have full control of your wallet. Of course, it also means you are susceptible to getting hacked.
Additionally, your account can be backed up through a single master seed, which refers to the string of random words that can help you recover your coins.
Where can I get Jaxx Wallet?
The Jaxx Wallet can be downloaded for free on the company’s main website.
Jaxx can also be downloaded from Google Play and iTunes.
Pros and cons
- Open source.
- Ideal for beginners.
- Wide selection of cryptocurrencies, including the world’s largest.
- Highly accessible, with mobile and desktop compatibility and seamless integration across all platforms.
- Bad press lately due to security concerns.
- A lack of two-factor authentication.
Getting started with Jaxx is extremely easy:
As the Jaxx website explains: “No onboarding, no information, no verification required. Nada”.
Simply download the Jaxx mobile wallet and get started. You’ll likely find that the interface is attractive and easy to use.
To learn more about its features, visit the website jaxx.io before downloading the app from Google or Apple.
Frequently asked questions
Image source: Jaxx Wallet