There’s no denying that the Nano Ledger cryptocurrency wallet appears to be a crowd favorite. However, a new player in the game could prove to be that “user-friendly” cryptocurrency wallet for which everyone has been looking. Within this review, we aim to pinpoint the pros and cons of Jaxx and how it could be the new favorite with novice investors.
What is a Jaxx Cryptocurrency Wallet?
Jax is a new cryptocurrency wallet that aims to make cryptocurrency buying, selling, and trading, far more accessible for the general population. It has a unique, seamless platform, works across all devices, and is compatible with a range of coins as well.
You can use it for cross-platform sharing, it integrates with ShapeShift, and it also boasts the label as a “multi-chain” wallet. In essence, it’s suitable for the biggest cryptocurrencies by market cap for your convenience.
How Can You Add Cryptocurrency to the Jaxx Wallet?
The process is easy thanks to the seamless integration with ShapeShift. In fact, it’s that easy that you can convert between various coins such as DAO, Ethereum, and Bitcoin with ease. You can also use it for holding fiat currency as well.
How Do You Use a Jaxx Cryptocurrency Wallet?
Follow this step-by-step process, and you’ll find it’s exceptionally effortless.
1. Give the person sending you money your cryptocurrency address. If you don’t have this, you can scan the QR code found on your public key.
2. The sender can now send you money – it’s that easy.
1. Ask the recipient for their crypto address or their Bitcoin address. If you’re using your mobile phone, they can also send you their public QR code for you to scan. Otherwise, type in their address.
2. Input the amount you wish to send.
3. Hit send.
How Safe is the Cryptocurrency Wallet Jaxx?
Unlike many other cryptocurrency wallets on the market, Jaxx doesn’t require you to verify yourself or create an account. Instead, it doesn’t want any information on you at all. You create your cryptocurrency keys on your local device, and you have complete control of your wallet. However, due to having no user permissions, you are more susceptible to hacking than other more rigidly monitored cryptocurrency wallets.
Pros and Cons of Jaxx Cryptocurrency Wallet
If you’re looking to purchase a new cryptocurrency wallet for your coins, you will no doubt want to know whether Jaxx is right for you. We’ve included some advantages and disadvantages of the Jaxx cryptocurrency wallet.
• Straightforward to use
• An excellent first step for beginner investors
• Compatible with most devices – including mobile and desktop
• Accepts most major cryptocurrencies
• It doesn’t have a two-step verification process
• There doesn’t seem to be a lot of security
• It’s quite expensive to buy
If you’re in the market for a new cryptocurrency wallet, then learning all there is to know about Jaxx is a good idea. This high-quality crypto wallet is perfect for those with various investments across several coins but does have some security concerns. However, if you’re new to trading, it’s definitely a solid first option.