While they share the same name as traditional wallets, crypto wallets are different in the way they operate. Unlike the ones where we store fiat banknotes or coins, crypto wallets aren’t leather purses but special programs. Without a wallet, it will therefore be impossible to sell and buy your virtual currencies. We’ve reviewed different wallets so far and now we’ll take a look at a digital wallet called Jaxx Wallet.
Before starting with the introductions we can tell you that this wallet is cross-platform and supports a large number of cryptocurrencies. In the next paragraphs, we will provide the information needed to understand if this wallet is right for you as a trader or not. Furthermore, we will also see the features, strengths, and weaknesses of Jaxx Wallet.
What Is Jaxx Wallet?
Jaxx Wallet is one of the best-known crypto wallets currently available on the market. It is compatible with various cryptocurrencies; therefore, if you are looking for a wallet that allows you to operate with multiple cryptocurrencies this is the right choice for you. Furthermore, this wallet is also suitable for trading and is available for Linux, Windows, Mac PCs and also for Android and iOS smartphones. In addition to these versions, it is also possible to download the extension for Chrome in order to have a lighter version of the wallet in question.
How Does Jaxx wallet Work?
For this Jaxx Wallet, no registration is required to start trading with your crypto. In practice, the various applications available for PC, Android and iOS smartphones are ready to use. While this wallet allows anonymity it also allows for personalization to reach a desired level of safety. In the initial phase you can create your own wallet following the default settings or customize it to your liking.
Cryptocurrencies Supported by Jaxx Wallet
Jaxx Wallet is one of the crypto wallets that can support a large number of cryptocurrencies. The wallet in question supports up to 80 cryptocurrencies at the same time among the best known and available on the various platforms that allow their purchase (such as Coinbase or Binance for example).
Among the best known we find:
- Bitcoin (BTC)
- Ethereum (ETH)
- ZCash (ZEC)
- Dogecoin (DOGE)
- Basic Attention Token (BAT)
- Ripple (XRP)
- Golem (GLM)
- Litecoin (LTC)
- Dash (DASH)
- Gnosis (GNO)
- Storm (STORM)
Features of Jaxx Wallet
The Jaxx Wallet has a very interesting feature. In practice, thanks to the ShapeShift platform it will be possible to exchange currencies without necessarily having to own multiple wallets. An extremely useful feature especially for those actively operating in the cryptocurrency trading market.
The main features of Jaxx Wallet are as follows:
- Properties of the keys: The wallet in question uses a Master Password with 12 useful words to better protect your account. In practice, only the wallet owner can access their Jaxx Wallet because the Master Password is secret and encrypted.
- Blockchain Projects: Jaxx supports the management of the blockchain in a simple and intuitive way. It is possible to join new sales contracts, blockchains, and much more.
- Conversion: Converting from one cryptocurrency to another is really a breeze and completely safe. All this is done in total safety by simply entering the amount and the crypto to be changed.
Is Jaxx Wallet Safe?
Security is not the strong point of Jaxx Wallet as many criminals have in fact managed to steal the data of various accounts because as we mentioned, no registration is necessary. Even if only one case of violation has been recorded on a jailbroken iPhone, the lack of certain security criteria means that this wallet is to be monitored.
We therefore recommend using a good antivirus program, to avoid hacker attacks on all devices that will be used with Jaxx Wallet. Furthermore, it is always advisable to use a strong password and a PIN that is not easily recognizable.
Advantages and Disadvantages
Among the advantages, it’s certainly the fact that Jaxx Wallet allows you to manage multiple crypto at the same time. Furthermore, it is multi-platform, which means that it can also be managed and used by smartphones and tablets, as well as by PCs. It is definitely a choice among the best if you are a beginner and want to try your hand in the world of crypto. The interface is in fact quite simple and intuitive. Another point in Jaxx’s favor is the ability to change crypto directly from the platform, therefore without using external services. The only drawback to report is the inability to transfer funds to your bank account.
Generally speaking, Jaxx Wallet is a wallet that is suitable for anyone with the desire to manage multiple cryptocurrencies at the same time. The support for the various crypto is really interesting, in fact, with Jaxx Wallet it is possible to add Bitcoin, Litecoin, Ethereum, but also some less known cryptocurrencies, such as Unicorn Gold, Gnosis and Storm.
However, it is good to be very careful about the security of the devices on which you will install this wallet. The wallet in question is also very simple to use even for the less experienced in the sector. Due to security issues, users should be extremely cautious when approaching this platform, or any other in the crypto world. Always do your own research and rely only on yourself for the safe keeping of your funds.