Review of the Jaxx Cryptocurrency Wallet
Title: Jaxx Wallet: A Comprehensive Review of the Multi-Currency Crypto Wallet
Introduction:
With numerous options available, choosing the right cryptocurrency wallet can be challenging. To help you make an informed decision, we present a detailed review of the Jaxx Wallet. We will explore its features, fees, pros, and cons, providing you with a comprehensive overview of this versatile wallet.
What is Jaxx Wallet?
Jaxx Wallet, developed by Dесеntrаl Inc., a leading blockchain company based in Toronto, Canada, is a highly flexible cryptocurrency wallet. Launched in 2014, it has gained popularity as a multi-currency wallet over the years.
Key Features of Jaxx Wallet:
1. User-friendly Interface: Jaxx Wallet offers an intuitive and user-friendly interface, featuring a unified dashboard that allows users to view and interact with all wallet features and digital assets on a single screen.
2. Open Source: The code of Jaxx Wallet is open for review by anyone, ensuring transparency and trust in its security.
3. Shapeshift Integration: Jaxx Wallet integrates the Shapeshift technology, enabling users to convert their digital assets from one coin to another within the wallet app.
4. Multi-platform Support: Jaxx Wallet is compatible with various operating systems, including Linux, Windows, Mac OS, Chrome Extension, Android, and iOS. It also offers a browser extension for Chrome.
5. Market Data Tracker: The wallet provides a market data tracker that allows users to monitor market trends, compare price changes, and track the market capitalization of different coins in real-time.
Fees and Limits:
Jaxx Wallet is completely free to use across all eight supported platforms. Users only need to cover transaction fees when sending cryptocurrencies out of the wallet or transferring coins within the wallet.
Supported Currencies:
Jaxx Wallet supports over 90 cryptocurrencies, including popular ones such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and many more.
Security:
Jaxx Wallet prioritizes user security by ensuring that users fully own and control their private keys, which are created on their device. This eliminates the risk of centralized or third-party access to funds. Additionally, the wallet is protected by a 4-digit PIN, which is required to open the wallet and confirm transactions.
How to Register on Jaxx Wallet:
1. Visit the official Jaxx Wallet website and download the appropriate file for your device.
2. Once the download is complete, run the .EXE file.
3. The necessary files will be extracted to your device.
4. Select the “Create New Wallet” option and agree to the wallet’s terms and conditions.
5. Create a strong password for your wallet.
6. Choose the cryptocurrencies you wish to use in your Jaxx Wallet.
7. Create a backup for your wallet by following the instructions provided.
8. Set up a security PIN by accessing the “Settings” menu and selecting “SETUP SECURITY PIN.”
How to Recover the Jaxx Wallet Password:
If you have your 12-word Backup Phrase, follow these steps to recover your PIN:
1. Verify the correct Backup Phrase by pairing the wallet on another device and checking if the wallet addresses and balances match.
2. Re-pair the wallet by going to MENU > Settings > Pair Devices > Pair/Restore Wallet.
3. Click “I UNDERSTAND” and enter the 12-word Backup Phrase to restore the wallet.
Sending and Receiving Crypto Assets:
To send crypto assets:
1. Click on the “Send” icon in the wallet interface.
2. Select the coin you want to send.
3. Enter the recipient’s wallet address and the number of coins you wish to send.
4. Confirm the details and click the “send” button.
To receive crypto assets:
1. Click on the “Receive” icon in the wallet interface.
2. Select the coin you want to receive.
3. Enter the number of coins you want to receive and click “Generate.”
4. The wallet will provide you with an address and QR code that you can share with the sender.
Conclusion:
Jaxx Wallet is a versatile and user-friendly cryptocurrency wallet compatible with various platforms. While lacking certain security features like two-factor authentication and multi-signature support, its easy-to-use interface and extensive features make it an excellent choice for both beginners and experienced crypto users.
Recent Updates:
– On August 21, 2020, Jaxx Wallet experienced congestion in the Ethereum network, resulting in higher gas fees.
– On May 2, 2020, Jaxx Wallet warned users about scammers attempting to steal funds through elaborate schemes.
– On May 8, 2020, Jaxx Wallet faced an ongoing DDOS attack, causing the site to be temporarily offline.
– On March 13, 2020, Jaxx Wallet announced the rollout of new infrastructure upgrades.
Tags: Crypto Exchange