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Review on Jaxx Wallet by Arun Kaul
The leading hot cryptocurrency wallet - jaxx
If you want to store your cryptocurrency in a hot wallet in small amounts and just starting out in the world of cryptocurrency, Jaxx may be a good option.
But we won’t vouch for its security infrastructure, so consider other options in this guide, such as Coinbase before you make the final decision.
The good part is that you have full control over your private keys and they aren’t stored on the company’s servers. It is easy to use and has intuitive controls. So beginners will find it especially appealing.
The Jaxx app is free to download and use. But as it is with other desktop or mobile wallets, you need to pay a fee for every transaction you make.
This fees goes to the cryptocurrency trading networks. For instance, for every Ethereum transaction, you pay a fee of .000441 ETH. In the same way, you pay a transaction fee for other cryptocurrencies.
There are three primary advantages to using Jaxx:
Control over your keys – Your private keys are stored locally and stay locked. They aren’t stored on Jaxx’ online servers.
Free access – You don’t need to verify your identity to use Jaxx. However, this may not sound very secure to many cryptocurrency users.
Easy to use UI – You can easily understand how to store, send or receive cryptocurrency. This really helps beginners.
Access to top cryptocurrencies – Jaxx supports the most in-demand cryptocurrencies in the world including Ethereum, Ethereum Classic, Bitcoin, Bitcoin Cash, Litecoin and more.
Pros
- An easy to use user interface
- Supports the most in-demand cryptocurrencies
- Perfect to use on the go, accessible across multiple platforms including smartphone and desktop
- Open source builds trust in community
- Very convenient functionally; doesn’t overwhelm you with complicated functionalities
Cons
- Security concerns arise because there is no two-factor authentication and any ID verification needed
- Some reports of security breaches have surfaced with hundreds of thousands of dollars lost
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Comments (1)
October 02, 2019
Jaxx Wallet had nothing to do with that breaches! Because the scammers made a fake website same like Jaxx wallet. The fake site was created and used to target both Windows and MacOS X users. Users lost their account.
