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The Beginner’s Guide on Jaxx Cryptocurrency Wallet

The Beginner’s Guide on Jaxx Cryptocurrency Wallet

What is Jaxx Cryptocurrency Wallet?

Jaxx is basically a multi-chain wallet that provides support for distinct cryptocurrency assets.

Jaxx is a comparatively newer cryptocurrency wallet with one motto

“To simplify the blockchain and allure the masses to its sole value proposition”.

Jaxx Wallet possesses main defining features:

  1. Multi-coin support
  2. Cross-platform pairing
  3. Integration of ShapeShift- an exchange supporting dozens of digital currency

Either on mobile or desktop, your experience with Jaxx will likely be smooth and intuitive.

Compatible platform
Compatible platform

Compatibility:

Jaxx can be operated with different platforms including:

  • Windows, Apple and Linux desktop
  • Android, iOS mobile, and tablet
  • Google Chrome and Firefox extensions

It’s also developed to work and sync across all the devices.

The Jaxx Wallet can be downloaded for free on the company’s main website.

Jaxx can also be downloaded from Google Play and iTunes.

A Short History- Jaxx

The Jaxx wallet was created by Anthony Diiorio. It was developed by Decentral- Canada’s leading Blockchain Company.

The first version of Jaxx provided simple support for only Bitcoin and Ethereum wallets.

However, Jaxx currently supports dozens of cryptocurrencies as well as multiple platforms.

Which Cryptocurrency Jaxx Support?

Jaxx wallet supports a huge range of coins and is going to add more all the time.

At the moment Jaxx supports:

  • Bitcoin
  • Ethereum
  • Dash
  • Ethereum Classic
  • DAO
  • Litecoin
  • REP and many more…
Features
Features

Jaxx Blockchain Wallet

Jaxx is the wallet for Bitcoin, Bitcoin Cash, Ethereum, and a long list of blockchain assets. It’s easy to trade on Jaxx.

Let’s see how?

  • Jaxx Blockchain Interface

Jaxx cryptocurrency wallet is available for download on approx. 8 platforms.

The Jaxx wallet has been the top choice of Bitcoin traders and cryptocurrency users globally; because of its privacy, security, and simple yet strong set of features.

  • Ownership and Control

Jaxx wallet uses a 12-word “Masterseed” to help tackle the private keys to the Bitcoin and other blockchain assets.

The Jaxx Blockchain Wallet doesn’t access the funds; however, you can easily recover the wallets with this key.

  • Swap between Cryptocurrencies and Tokens

The Jaxx Blockchain Interface helps to trade cryptocurrencies quickly and securely with 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.

Jaxx Wallet Creation Guide

The initial step is to create a wallet on Jaxx and to decide the platform where you wish to install the Jaxx application.

Let’s assume Windows as our platform. Below are the steps on how Jaxx can be installed on a Windows computer. Let’s get started!

Downloading

Download

Navigate to the Jaxx website; select the download tab where the download is somewhere around 70 MB. Once the .exe file gets downloaded you need to install it.

Windows Desktop

Starting Up

After installing the Jaxx wallet, the first screen displays the latest release notes.

Starting up

You need to agree to the user terms of service and privacy policy. Jaxx wallet clearly notifies that it doesn’t own the access to any of the private keys.

Wallet Creation

Wallet Creation

The following screen enables you to select whether you want to create a new wallet or restore the previous one.

Let’s consider creating a new wallet!

Express or Custom

There are 2 possible alternatives for creating a wallet on Jaxx, the “Express option” or the “Custom option”.

Express or Custom

Let’s go with the custom option. This permits you to set up the security features prior to storing the coins.

Select Cryptocurrencies

Select cryptocurrencies

You can select the cryptocurrencies that you want to store in the wallet.

You can also add/remove cryptocurrencies any time after the creation of the wallet.

Fiat currency

The value of digital currencies will be shown in terms of a fiat currency.

Fiat currencies

You can select fiat currency that you hold and remember to choose the appropriate one on this screen.

Backup phrase

Backup phrase

It’s time to set up the Masterseed phrase. Jaxx prompts you to confirm the phrase by entering it again.

Confirm Backup phrase

This feature is to ensure that you do not skip and you intentionally read and save the phrase.

Security Pin

Security pin

At this stage, you have to set up a 4-digit security pin to regularly access the wallet. This is the final step in the creation of a Jaxx wallet.

Main Screen

Familiarize yourself with everything on the platform.

Main screen

The right side shows your transaction history.

The left side displays your current address, the token you selected with your current balance.

You can send, receive, exchange coins as shown on the top left of the screenshot.

Tools and Settings

To access this section, press the button on the upper right side of the main screen.

Jaxx adds an explanation to each option which assists anyone to grasp how the application operates.

Tools and settings

In the tools section:

  • You can back up the wallet with the 12-word backup phrase.
  • View the private keys attached to the wallets
  • There’s also an option to track the currently paired devices.

Tools and settings 1

In the settings page:

  • You can 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)

BTC mining fee

Receive and Send cryptocurrency

To receive cryptocurrencies into the Jaxx wallet, tap “receive button” on the main screen.

Copy the currency address of your wallet and share it with the sender. The sender can use the address to transfer the amount into your wallet.

To send cryptocurrency follow the reverse instructions of receiving.

You just require the address of the destination wallet to send the cryptocurrency.

Receive send cryptocurrency

Exchange Cryptocurrencies

Jaxx helps you skip all the lengthy steps just by following 3 steps:

  • Go to the exchange tab
  • Select the cryptocurrency which you want to exchange
  • Enter the amount and click “exchange”

Isn’t it simple?

Exchange cryptocurrency

How Much Does It Charge?

Jaxx is free to download on your mobile device or desktop.

Jaxx wallet applies a transaction fee which directly goes to the networks that operate the cryptocurrency you are trading.

The platform makes money by facilitating ShapeShift transactions.

Is Jaxx Cryptocurrency Wallet Safe?

Jaxx cryptocurrency wallet gives you “permissionless access” to your currency.

There is no requirement of any information or verification. It doesn’t collect your information on signup.

According to Jaxx, all crypto-keys are generated and held on your local device. This specifies that you are susceptible of getting hacked.

Your account can be back up by a single master seed, which is basically the string of random words, that helps to recover your coins.

Jaxx Wallet Review

Jaxx is a secure and versatile cryptocurrency wallet that supports a huge variety of digital assets.

The ShapeShift feature permits for onboard conversion without an outside exchange. It allows accessing 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.

Visit the official website to know more about the platform. If you want to read more about such wallets navigate here.

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Image Credits: Jaxx, Unhashed

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Author

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.