What is Jaxx Cryptocurrency Wallet?
Jaxx is a multi-chain wallet that supports various cryptocurrency assets. It is comparatively newer which aims
“To simplify the blockchain and allure the masses to its sole value proposition”.
The wallet offers many features including:
- Multi-coin support
- Cross-platform pairing
- Integration of ShapeShift- an exchange supporting dozens of digital currency
Either on mobile or desktop, your experience with this wallet will likely be smooth and intuitive.
- Windows, Apple and Linux desktop
- Android, iOS mobile, and tablet
- Google Chrome and Firefox extensions
You can download Jaxx Wallet for free directly from the company’s official website. It is also available on Google Play Store and iTunes.
A Short History
Jaxx wallet was created and developed by Anthony Diiorio and Decentral- Canada’s leading Blockchain Company resp.
Cryptocurrency Jaxx Support
Jaxx wallet supports a wide range of coins and will add more in the near future. At the moment the platform supports:
- Ethereum Classic
- REP and many more…
Jaxx Blockchain Wallet
- Blockchain Interface
Jaxx cryptocurrency wallet is available on the majority of platforms that a user generally use.
It’s one of the top choices of crypto traders and users globally; due to its privacy, security, and the strong set of features.
- Ownership and Control
The platform uses a 12-word “Masterseed” to manage the private keys of the blockchain assets. Jaxx Blockchain Wallet never accesses the funds; however, you can easily recover the wallets by using this key.
- Swap between Cryptocurrencies and Tokens
It’s Blockchain Interface help you trade cryptocurrencies quickly and securely with just a few clicks.
- The range of Blockchain Projects
Jaxx curates the space of distributed ledger, smart-contract, and Blockchain identifying high-value opportunities for the user.
How to Create the Jaxx Wallet?
Navigate to the Jaxx official website > select the download tab (70 MB) > after the downloading of .exe file > install it.
Create a New Wallet
You have 2 options: “create a new wallet” or “restore the previous one” > select “create a new wallet”
Express or Custom
Again you have 2 options to create a wallet: “Express” or “Custom” > select the custom option. (Using this option you can set up the security features before storing the coins)
Select any cryptocurrency of your preference that you want to store in the wallet. You can also add or remove coins any time once the wallet is created.
The value of each digital currencies will be listed in terms of a fiat currency. Select the fiat currency that you already have and choose the appropriate one on this screen.
Set up the Masterseed phrase > confirm the phrase by entering it again.
This feature is to make sure that you do not skip this step, instead, read and save the phrase somewhere safe.
Set up a 4-digit security pin to regularly access the wallet.
- The right panel shows your transaction history.
- The left panel displays your current address, the token you selected with your current balance.
- You can also send, receive, and exchange coins via the interface.
Tools and Settings
To go to this section, press the button on the upper right side of the main screen. The platform adds an explanation to each option which assists in a linear flow on how the application works.
In the tools section:
- Back up the wallet with the 12-word backup phrase.
- View the private keys attached to the wallets
- Track the currently paired devices.
In the settings page:
- Set-up or modify the pin
- Reset the cache
- Choose the BTC mining fee
(The BTC mining fees is based on how quickly you need the transaction to enter the next block)
Receive and Send cryptocurrency
To receive cryptocurrencies > tap “receive button” > copy the currency address of your wallet > share it with the sender.
The sender can use the address to transfer the amount into your wallet.
To send cryptocurrencies > follow the reverse instructions of receiving.
You just need the destination address of the wallet to send the cryptocurrency.
- Go to the exchange tab
- Select the cryptocurrency which you want to exchange
- Enter the amount and click “exchange”
Jaxx Wallet Fees
The wallet is free to download, however, extracts a transaction fee that directly goes to the blockchain network. This network operates the cryptocurrency that you trade and the platform makes money by facilitating ShapeShift transactions.
Is Jaxx Cryptocurrency Wallet Safe?
This wallet gives you “permissionless access” to your currency. You don’t need to give any information or verify on this platform.
According to Jaxx, all crypto-keys are generated and held on your local device. You can back up your account by a single master seed, that helps to recover your coins at any instance.
Jaxx is a secure and versatile cryptocurrency wallet supporting the wide variety of digital assets. It’s ShapeShift feature allows the onboard conversion without using an external exchange. You can also access the wallet across multiple platforms.
Though hardware wallets and paper wallets will always be a safer alternative for cryptocurrency storage, Jaxx acquires the usage of various safety precautions like 12-word backup phrases and PIN transaction confirmation.