Jaxx Cryptocurrency Wallet Review- A Beginner Guide Worth Reading!October 10, 2020
Today, there are a lot of wallets to pick from when you are searching for a place to hold your cryptos. But with such a large range of choices, it may be quite difficult to pick the suitable one.
Each person has different desires and needs, and thus the same wallet is not suited for everyone. That is the reason why more and more people look for the features and their reviews to find the right wallet for them.
In this article, we will give you a detailed guide on the Jaxx Wallet and its overall aspects such as its features, fees, pros and cons and much more. Let us look into this Jaxx Wallet review in detail now.
What Is Jaxx Wallet?
Jaxx is one of the most flexible cryptocurrency wallets since it is compatible with several platforms and interfaces. Jaxx wallet is a product of Dесеntrаl Inc., a leading blockchain company located in Toronto, Canada.
Jaxx wallet was first launched in the year 2014 and has become extremely popular as a multi-currency crypto wallet over the years.
Jaxx Wallet Features
Jaxx Wallet Fees and Limits
The Jaxx wallet software is completely free to use through any of its 8 compatible platforms. The only costs that users need to pay are the transaction fees when sending cryptocurrencies out of the wallet, and the transaction fees when transferring coins in the wallet.
Jaxx Wallet Supported Currencies
The Jaxx wallet currently supports over 90+ cryptocurrencies. Some of the major ones include:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Dash (DASH)
- Dogecoin (DOG)
- Litecoin (LTC)
- Stellar Lumens (XLM)
- EOS (EOS)
- Ethereum Classic (ETC)
- Ethereum (ETH)
- Gnosis (GNO)
- Iconomi (ICN)
- Melon (MLN)
- Augur (REP)
- Tether (USDT)
- Monero (XMR)
- Ripple (XRP)
- Zcash (ZEC)
- Cardano (ADA)
Is Jaxx Wallet safe?
The Jaxx wallet is one of the most safe and secure software wallets available in the cryptocurrency market. The most important security feature of Jaxx wallet is that users fully own and control their private keys as they are created on their device.
This makes it impossible for a centralized or third party to have access and control your funds. In addition, the Jaxx wallet is protected by a 4 digit PIN. This PIN is needed to open the wallet and can be enabled to confirm the transactions.
How to register on Jaxx Wallet?
Navigate to the official website and download the correct file for your device type.
The file to be downloaded is nearly 65mb. Once the download has finished, click on the .EXE file.
It will now extract the necessary files to your device.
Select the ‘Create New Wallet’ option and agree to the wallet’s terms and conditions.
Now create a strong and multi-character password for your wallet
Now select the cryptocurrencies you will be using in your Jaxx wallet
At the top the wallet interface there is the ‘Backup wallet’ requesting you to create a backup for your wallet. Click here and write down the 12 seed words provided.
Finally tap the menu in the top right corner and select ‘Settings’ and then SETUP SECURITY PIN. Type in a 4 digit PIN and confirm.
How to recover the Jaxx wallet password?
If you have your 12-word Backup Phrase, the simplest way to recover the PIN would be to re-pair it to your device.
Before doing this you have to check for the correct Backup Phrase
For this, pair the wallet on another device first and check if the wallet addresses and balances match.
Now to re-pair the wallet, Go to MENU > Settings > Pair Devices > Pair/ Restore Wallet >
Then click “I UNDERSTAND” and enter the 12 words to restore the wallet.
How to send crypto assets using Jaxx Wallet?
Click on the “Send” icon on the wallet interface.
Select the coin you wish to send.
Enter the receiver’s wallet address and the number of coins you wish to send
Confirm that the details are correct and hit the ‘send’ button.
How to receive crypto assets using Jaxx Wallet?
Click on the “receive” icon on the wallet interface page.
Proceed to select the coin you want to receive
Next, enter the number of coins you want to receive. If the amounts look right, click on the green Generate button.
The wallet will present you with an address as well as a QR that you can copy and send to the person from whom you wish to receive the digital coins.
Jaxx Wallet Pros and Cons
- Multi-currency support
- Multi-platform accessibility
- Excellent user interface
- Inexpensive transaction fees.
- Reputable and secure
- Not as secure as hardware wallets
- Missing some key security features
- No hardware wallet integration yet
The Jaxx wallet is fully compatible and supported on a variety of platforms. Jaxx also supports a wide range of cryptocurrencies and is constantly adding more. The wallet also supports in-app trading and has an impressive user experience.
However, some security features such as two-factor authentication and multi-signature support are devoid of the wallet. But the easy to use and feature-rich platform of the wallet, makes Jaxx one of the best crypto wallets for both beginners and experienced crypto users.
- On Aug 21, 2020, Congestion in the Ethereum network, gas fees are considerably higher than usual.
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