About Jaxx Wallet
Jaxx is a multi-currency wallet developed by Decentral, a crypto company known for its Bitcoin ATMs. Jaxx was launched in 2014 by the co-founder of Ethereum, Anthony Di Iorio. Initially called Jaxx, the team overhauled it and released an upgraded version of it with the title “Jaxx Liberty”. Jaxx claims it to be the 2.0 version of the cryptocurrency wallets and diversified the platform to enable the users to experience blockchain in a fun and easy manner.
The wallet supports over 100 digital currencies and offers plenty of features for its users. Jaxx wallet aims to be the all in one app for the crypto enthusiasts. Since its inception, Jaxx grew exponentially and has over a million customers around the globe as of writing. Jaxx is free to use and charges only the network fees for the transactions and the fees go to the miners.
Jaxx lets users store, manage and exchange cryptocurrencies in the wallet. It gained popularity in the crypto community because of its simplicity and easy-to-understand UI. Users can follow trends of their various currencies through the market cap and changes. Jaxx is available for all the leading desktop operating systems such as Windows, Mac OS and Linux. There are smartphone apps for Android, iOS and a Chrome extension for accessing the wallet.
Some additional features include a news portal, block explorer to check balances and transactions data across multiple blockchains. There is also an in-wallet exchange feature that enables the users to swap cryptocurrencies within the wallet. Jaxx has also received applause from the crypto community for its fast and friendly customer support.
Users will be able to enjoy the services offered by the Jaxx wallet anonymously. The wallet doesn’t require any details like email-id for setting up the account and doesn’t collect any personal information. Jaxx is a Hierarchical Deterministic wallet which means it creates a new address for every transaction that makes it impossible for third parties to track.
Jaxx wallet promises to deliver industry-standard security for its users. It uses a client-side security model and all the private keys are stored locally on the user’s device. Jaxx can neither hold nor access the keys and funds of its users. Also, the user can boost security by setting a password for the wallet. The 12-word seed phrase is accessible only to the user and can be used to recover the wallet with funds in the event of a lost device or forgotten password.
Jaxx wallet faced criticism due to a hack that took place in 2017 and many users complain about the platform being buggy and slow. It also lacks support for hardware wallets and misses out on some of the popular cryptocurrencies. Despite the drawbacks, Jaxx has a huge customer base and with its plethora of features offered, it is well on the way to becoming an all in one platform for the crypto.