Jaxx Wallet Review 2021

Cryptocurrency trading is now becoming more and more popular and affordable. Cryptocurrency is a new source of investment and financial growth. But unlike fiat money, cryptocurrencies cannot simply be stored in banks or physical locations, or hardware wallets. Traders need to store their digital currency in digital wallets. Jaxx Wallet is a digital currency wallet that is rapidly gaining popularity because of its easy accessibility and multiple layers of security. However, read the Jaxx Wallet review, and learn all its services in detail.

Jaxx Wallet Summary

Wallet name Jaxx Wallet
Type of Wallet Multi Platform Blockchain Wallet
Coins Accepted BTC, ETH, BCH, DASH, LTC, JXX, DOGE, and more
Native Token None
Linked Exchange No, But you can use ShapeShift Feature
Supported Hardware Wallet No
Supported Countries Most of All
Languages English
Charges Free
Mobile App Yes
Cloud Storage No
Cold Storage Yes
Customer Support via email or social media

What Is a Jaxx Wallet?

Jaxx Wallet is a digital currency wallet compatible with more than eighty different digital currencies. It is well known for its user-friendly interface that makes it easy to navigate and shift between all the different stored currencies of a user. Jaxx Wallet can also be seamlessly utilized across multiple devices. Jaxx Wallet also has some other features. Some third-party features let users buy and sell any of the compatible currencies.

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Features of Jaxx Wallet

The most crucial feature of Jaxx Wallet is that users do not need to register for, sign in or log in to an account to use Jaxx Wallet. Following are some other essential features :-

It Can Store, Buy and Sell Various Cryptocurrencies

It can be used to store, buy and sell eighty different cryptocurrencies. All the popular cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Dash, Litecoin are supported on Jaxx Wallet.

It Can Be Used Across Varied Devices and Software

Jaxx Wallet can be used across many different devices and software. It can be used on mobile phones as apps or computers with a desktop version. It works with iOS, Windows, Android, Linux, and Apple operating systems. It is available as a Firefox and Google Chrome browser extension.

Cross-platform Pairing Service

Jaxx Wallet has a cross-platform pairing service, which means that if the user logs into the wallet from different devices, the wallet can be easily paired and synced in all of them.

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Displays User’s Balance Breakup 

A handy feature of the Jaxx Wallet is that it displays the breakup of the balance in each user’s digital wallet. This helps traders know exactly how much they can spend. Traders can also see a detailed history of their transactions with each currency.

Camera Scanning

Jaxx Wallet also has camera scanning enabled on the native device so that the user can scan any QR codes necessary for quick digital currency transactions.

Regular News Updates

Jaxx Liberty provides users with regular news updates from the world of blockchains and cryptocurrencies. Users can also track market changes and shifts in prices and rates of different cryptocurrencies in real-time. 

Jaxx Wallet Review - Track Pricing Data with Jaxx WalletJaxx Wallet Review – Track Pricing Data with Jaxx Wallet

Is Jaxx Wallet Trustworthy?

The Jaxx Wallet has many different security checks and tools to ensure the safety of its users. It does not take any personal information from the user. This avoids the possibility of data breaches of sensitive information. When using a Jaxx Wallet, the user has to generate a private, secret key. This key will be the only way for the user to access their funds. It will not have any information on this key. It can only be stored on the user’s native device.

The problem is that if due to some reason, the user gets locked out of their device or the device gets damaged, they would permanently be unable to access their Jaxx Wallet assets. For this reason, Jaxx Wallet suggests that users should create a backup seed password that can be used to restore the wallet’s secret key in case the user is unable to access their device.

The backup password is a twelve-word long-phrase strong password that is generated through an industry-standard BIP39 library. If the user forgets their secret key and backup password, they will never reassess their digital assets.

The Jaxx Wallet is entirely safe as long as users do not reveal their secret key and use a backup password. The core of the data on the Jaxx Wallet is encrypted at security levels used in banks. It does not use two-factor authentication.

Jaxx Wallet Review - Is Jaxx Wallet Trustworthy?Jaxx Wallet Review – Is Jaxx Wallet Trustworthy?

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Jaxx Wallet Services

  • Jaxx is known for its multi-currency support. Users can save more than eighty different cryptocurrencies on the Jaxx Wallet.
  • It integrates with third-party platforms like Changelly and Simplex, allowing users to buy, sell and exchange among their different cryptocurrencies without leaving the Jaxx Wallet.
  • It has an in-built customer support system. The Jaxx Wallet app has a help feature to chat with their support teams in real-time.
  • Jaxx Liberty has a block explorer feature that helps users track their transactions across different blockchain networks.

Jaxx Wallet Review: Pros and Cons

Pros Cons
Supports a wide variety of more than eighty digital currencies. There have been instances of a significant security breach in the past.
It is effortless to use and can be used through multiple devices. Users will be locked out of their accounts forever if they lose their secret key and backup seed password.
Third-party integrations let users trade between their different currencies. Jaxx Wallet is now becoming Jaxx Liberty, and its application requires regular updates.

Jaxx Wallet Review - Download Jaxx Wallet on Your Favourite DeviceJaxx Wallet Review – Download Jaxx Wallet on Your Favourite Device

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How Do I Set Up the Jaxx Liberty Wallet?

To set up Jaxx Liberty Wallet, users will first have to go to the Jaxx Liberty website and download the version of the Jaxx application that is compatible with their device and operating system.

The user will then be provided with a ‘checksum’ before the download commences. The user should check that the checksum for their download and installation is the same to avoid any security risks. Once the download is completed, the user will find a. EXE file, which they will have to open. The Jaxx Wallet is a 65 MB file, and it usually takes a few minutes to download.

On clicking the. EXE, Jaxx Wallet will begin to install the platform on the device. Once the installation process is completed, the user will see their Jaxx Wallet open on the default page. This page will show the user’s Jaxx Wallet address and their wallet QR code. The default page of the Jaxx Wallet opens on Bitcoins and offers the user’s Bitcoin balance and its US dollar equivalent. Users can easily find the cryptocurrency they want to see or use by scrolling through the drop-down menu of currencies available.

Jaxx Wallet Review - Trade Cryptos with Jaxx WalletJaxx Wallet Review – Trade Cryptos with Jaxx Wallet

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How to Use the Jaxx Wallet?

Receiving Funds

To start using the Jaxx Wallet, users first need to select the currency they want to send and receive. They can go to the top left-hand corner of the platform and find a drop-down menu of currencies. There the user needs to select the money they want to use.

To receive funds, the user can press the receive button on the top of the screen. This will automatically give the user a receiving address that they will have to share with the person sending them the funds. But if users want, they can also generate a unique barcode for the specific number of a particular currency to be received. 

The user will first select their chosen currency from the drop-down menu. Then they will press the receive button and put in the number of coins that they will receive. After that, they will press generate, and a unique QR code will be generated for that particular transaction. 

Sending Payments

Jaxx Wallet is one of the most secure cryptocurrency wallets. To send funds, users will first have to select the cryptocurrency they want to send and press the send button at the top of the screen. Users will now have to put in the recipient’s wallet address or scan the recipient’s wallet QR code. 

The user will have to put in the number of coins they want to send and press send. At this point, Jaxx Wallet automatically shows the real-time dollar value of those coins. 

How to Get a Jaxx Wallet Address?

The user may need a Jaxx Wallet address to receive payments. They will first have to choose the currency they are exchanging. Then they can go to the receive option and find their wallet address for that currency. Users can just copy this address for any transactions.

When the Jaxx Wallet first opens after download, by default, it shows the wallet address for the user’s Bitcoin wallet.

Jaxx Wallet Fees

  • The Jaxx Wallet is entirely free, so far as it does not charge the users any fee for its service of storing cryptocurrencies.
  • The Jaxx Wallet app does not cost anything to download.
  • It earns its profits when customers use the ShapeShift application built into its system.
  • When users transfer their digital assets from the Jaxx digital wallet to some other digital wallet, they have to pay some blockchain network fees. The faster the transaction on a blockchain network, the higher is the transaction fee typically.
  • But Jaxx does not earn any exchange fee from this charge at all. 

Unity Tokens by Jaxx Wallet

Jaxx Wallet is a product of the mother company Decentral. The Unity Tokens are a feature that Decentral is introducing. The Unity Tokens will be digital tokens like the reward points or benefit points players get in gaming. The Unity Tokens will be awarded for using services that are partners with Decentral. This is part of Decentral’s primary objective of reaching at least 10 million users every single month.

Jaxx Wallet Supported Coins

The Jaxx Wallet is a multi-currency wallet. At present, their list of supported currencies has crossed ninety. Another advantage of Jaxx is that they also support some lesser-known but lucrative digital coins and tokens. Some of the most popular cryptocurrencies compatible with Jaxx Wallet are:-

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Dash (DASH)
  • Litecoin (LTC)
  • Unity (JXX)
  • Doge (DOGE)
  • ZCash (ZEC)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • EOS (EOS)

Jaxx Wallet Security

The Jaxx Wallet ensures absolute user safety by providing that Jaxx stores no personal information since it is a non-custodial platform. The keys and the passwords are all stored on the user’s device. It is entirely up to the user to maintain the safety of their device. They should also not reveal their security pin or password to even friends and family to avoid all possibilities of a data leak. Jaxx Wallet also uses highly advanced encryption levels to prevent hackers from accessing or hacking user’s wallets. Although, to learn Jaxx Wallet security protocols in detail check this link.

Jaxx Wallet Review - Jaxx Wallet Security ProtocolsJaxx Wallet Review – Jaxx Wallet Security Protocols

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Has the Jaxx Wallet Ever Been Hacked?

A Jaxx wallet was hacked once in 2017 and a user lost ETH worth almost 400,000 USD. But it was not a failure of Jaxx’s security system. The user had unknowingly downloaded their wallet onto a jailbroken phone and could be accessed by users from any network, and the hackers managed to find the user’s backup password. This event proved to users once again the need to ensure the safety of their devices and keys.

However, Jaxx Liberty is part of Decentral’s massive worldwide scheme to expand its business. Decentral’s present trajectory and potential for future growth show that Jaxx may have many new updates in the coming months. Jaxx Wallet’s reviews are all primarily optimistic about their future expansion, making the service even better and safer, and more accessible for users. 

Jaxx Wallet Customer Support

Jaxx Liberty used to have a customer support system that worked through social media sites and support team email. But fraudsters, imposters, and hackers found it easy to replicate these and dupe customers. So Jaxx Wallet has now shifted to an exclusively in-app system.

One of the new features on the Jaxx website and the Jaxx Wallet platform is a small help icon on the bottom right corner. Users can contact customer service personnel through this option to solve any problems or find answers to any queries. Jaxx Wallet reviews mention quick and satisfactory problem resolutions. 

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Jaxx Wallet Review: Conclusion

The Jaxx Wallet or Jaxx Liberty is a trendy digital currency wallet. It has millions of users who regularly use the platform to store and exchange their digital currencies as it comes under the list of best wallets for cryptocurrency. As per user reviews, the primary concern for users when choosing digital wallets is the ease of use and security. Jaxx Wallet has more or less been able to satisfy both of these concerns. As a non-custodial platform, one of its security features, it has shifted all responsibility of security of assets to the user’s control. On the other hand, it’s easy UI, user-friendliness, the simple integrated ShapeShift feature, and compatibility with supported cryptocurrencies make Jaxx Wallet a perfect choice for digital currency traders. 

FAQs

Is Jaxx Wallet Safe?

The Jaxx Wallet is a non-custodial wallet meaning full responsibility of maintaining the safety of their device and password protection is on the user. Jaxx does not take or store any personal information from the user. But the Jaxx Wallet uses very advanced levels of encryption for the extra security of the users.

How Do I Withdraw Money From My Jaxx Wallet?

Jaxx Wallet does not facilitate the conversion of cryptocurrency into fiat money. Users need to transfer the currency from their Jaxx Wallet to an exchange to convert to fiat. This fiat can then be deposited in and withdrawn from the user’s bank account.

Does the Jaxx Wallet Still Work?

Jaxx Wallet is still working and increasing its user base. But it is rebranding to Jaxx Liberty. All the same features and more are available on Jaxx Liberty. But users should ensure that their app is updated to the latest version to access these features.

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