Review on Jaxx Wallet by Alex Martakov
Of course, in Jaxx there are drawbacks, but the advantages are much greater…
Of course, in Jaxx there are drawbacks, but the advantages are much greater and they are more than cover small shortcomings of storage. A large number of people use this wallet and consider it one of the best.
The main task of the wallet is to store money, and it copes well with it. During the existence of the wallet, incidents of hacking were recorded, but they were possible only because of the negligent attitude of the users themselves. Nobody has ever managed to hack Jaxx programmatically.
Therefore, we can confidently conclude that it is great for responsible people who understand what security is and how to store their access keys.
It may be better to use hardware or paper storage for storing large amounts of cryptocurrency, but for daily use and frequent transfers of a large number of transactions, this option will be quite convenient and comfortable.
Pros
- You can highlight the main positive properties of the wallet: 1. Full control of your data: all your private keys, mnemonic phrases and access codes are not stored on centralized servers, which in theory can be hacked or compromised, but on your device in encrypted form. 2. Additional protection features: the wallet provides you with the ability to set a PIN code that you will enter every time you log in to Jaxx or if you want to see a private key or mnemonic phrase for recovery. 3. Backup: you can always make a backup copy of the wallet to restore it from the flash drive if necessary. The ability to restore access using an encrypted SEED-phrase (it can be viewed in the settings). 4. Open source: the project develops as opensoure, and anyone with special skills can take part in it. Excellent interface: even when you first open it, you can quickly understand it. After a couple of days of use, you will not even remember that this program is new for you. 5. Multi-currency: it is very convenient and comfortable to store in one place all the currencies that you use. Of course, there are people who believe that such wallets are unsafe, and prefer separate wallets for each currency, but it is very inconvenient. After all, the more such wallets, the more likely that you will get confused in private keys or mnemonic phrases. Cross-platform: wallet is equally convenient to use on different devices.
Cons
- Having an internal exchanger for many will seem a plus until they see the commissions it takes. It often happens that it is more profitable to bring to the exchange and start back than to use the exchange services. In the advantages we mentioned about open source code, but some users have a suspicion that the code is not fully laid out in open access and some parts of it remain closed. It seems that the wallet still has vulnerabilities, but the developers hide it. No need to store Fiat currency. The presence of English: people who do not understand this language, can not use this wallet. Slow update of balances: after the transfer of money, the account may not be updated for hours, which leads users to some confusion. And when withdrawing money, the process can take a very long period of time.
