Jaxx Liberty Wallet Review
Currently, digital currencies are regaining popularity in the market. For this reason, there is a large number of new cryptocurrency wallets being created
Jaxx Liberty is a free, secure and open-source cryptocurrency wallet developed and maintained by Decentral Inc., a Toronto-based blockchain and software development company. It is available on desktop (Mac, Windows, Linux), mobile (iOS, Android) and web browsers, protecting users’ data with industry standard AES-256 encryption and a comprehensive backup system.
The wallet supports more than 85 different digital currencies, including Bitcoin, Ethereum, Litecoin, Dash, EOS, Zcash, and many others.
Jaxx Liberty was first released in 2017, as the continuation of the Jaxx wallet, which had been available since 2014 and was one of the first multi-asset wallets. The Liberty wallet went through a rebranding of the previous Jaxx wallet, which was based on a peer-to-peer (P2P) network and user-controlled interface design.
In 2020, Jaxx Liberty launched an initial coin offering (ICO) to provide users with a share of their platform’s profits. The ICO was successful, and the Liberty wallet was able to provide users with more features and access to a greater variety of digital currencies.
One of the most recent features added to Jaxx Liberty is the ability to purchase cryptocurrencies directly within the wallet, with no need of a third-party service. The Jaxx Liberty wallet also now serves as a bridge between the fiat and cryptocurrency networks, allowing users to easily move money between the two networks.
Since its launch, Jaxx Liberty has been widely praised for its user-friendly design, intuitive interface and overall security. The wallet is widely used by both experienced and new cryptocurrency users looking for a reliable and secure way to store and manage their digital assets.
Many users have benefited from the incredible features offered by these wallets. Therefore, a platform has been created, and it provides users access to the most popular cryptocurrencies of the moment.
We are talking about the Jaxx Liberty Wallet.
The wallet is developed by Decentral, a company known for having ATMs, wallets, and other digital currency services.
This wallet is compatible with more than 80+ different cryptocurrencies, and its main objective is to make management more straightforward and, of course, to attract people to its excellent features.
Jaxx is easy to use, and it allows you to synchronize with all kinds of compatible devices.
In short, based on their large and growing userbase, security improvements, brand sentiment and the quality of the team, we rank Jaxx Liberty in our Highly Likely To Succeed category.
What is Jaxx Wallet?
Jaxx is a wallet known to be compatible with several cryptocurrencies, so it is considered an excellent option for people who are starting in the world of cryptocurrencies.
In addition to using multichain technology, the platform has an easy-to-use interface. It can integrate with ShapeShift (an exchange that accepts several cryptocurrencies). Jaxx also has an impressive design among other functions that make it your best ally in terms of cryptocurrencies.
Best of all, people who use this platform can easily manage the coins in their wallets through ShapeShift, allowing quick conversions between the currencies that are currently available, including those that the Jaxx developers integrate in the future.
Jaxx gives you the possibility and ability to have different cryptocurrencies and also allows you to save coins of legal tender.
Is Jaxx Secure?
Jaxx guarantees solid security practices without the need for authorization. When you register, you do not have to provide private information.
The objective of the creation of this platform is to store the private keys directly on the user’s devices. It means that said user has full control of their wallet, making hacking unlikely for third parties.
The wallet has the function that automatically generates a master seed; this is a string of random words with which the wallet can be recovered. In other words, it gives you the option of making a backup which you should do.
Something vital to consider is that several users may be hesitant to start using this platform due to the security problems that caused a lot of turmoil a few years ago, that is why we should have a better understanding of this topic, since when using any wallet, especially mobile wallets or desktop, security is not only the responsibility of the company but also the user.
You must have some basic knowledge and stick to security measures when using cryptocurrencies.
Some basic knowledge includes:
- Back up your seed phrases
- Store Seeds Offline
- Store Passwords and Pins Offline
- Store in a Secure Location That Is Easy To Remember
This platform has been created based on simplicity. Compared to other multi-currency wallets, Jaxx is incredibly intuitive.
For people who are starting to use this wallet, this platform will give a better experience. However, more experienced users may find faults regarding the performance of the wallet.
And as if that were not enough, Jaxx gives you straightforward access to your coins.
And what are the steps to follow?
You only have to log in and select the currency you choose to send or receive a payment.
As for platform support, Jaxx is available on nine different platforms; however, web-based access is not available.
Available platforms include:
- Windows, Apple, and Linux (in the desktop version).
- Android and iOS apps for mobile devices.
Also, the Jaxx platform is entirely free; you can download it directly on the company’s website. You can also download it on the Google Play Store and iTunes.
The Jaxx Team
Jaxx has one of the best support teams, and you can access it through email and social networks.
However, in early 2017, Jaxx’s security team took action on a security issue when it was informed of a $ 400,000 theft. This report caused a lot of commotion among the users of this platform until —finally—the outcome of this matter indicated that it was no longer a problem for the company.
Due to the lack of information on this problem, several theories surfaced that it could merely have been the user’s fault.
The team developing this platform has launched an announcement about a new version of a hardware wallet that will be available. This only means that storing your coins will be safer since hardware wallets are almost impossible to penetrate through traditional methods. This is an excellent addition if Jaxx releases a hardware wallet. This news has been circulating for a while, so it’s uncertain whether this will ever be released for sure.
Taking into account all that Jaxx has to offer in terms of features and accessibility, we find the following pros and cons:
- It is fully accessible, with compatibility for mobile and desktop devices, and seamless integration on all platforms.
- It has an open-source code.
- It is perfect for people with little experience.
- It has a wide variety of cryptocurrencies available. It includes the most popular ones in the world.
- It includes an exchange for quick conversions.
- Recently, this platform has been criticized for security problems.
- It has failures regarding the two-factor authentication.
Jaxx Wallet Alternative
Whenever you are looking for a cryto wallet you should always have a cold storage option available. A cold storage wallet is only connected to the internet when you want to send or recieve crypto.
We highly recommend the Trezor Hardware Wallet. You can also read our full review on the Trezor Wallet called, “Trezor Wallet Review | When You Want Trust, Safety and Security.”
If you need a better understanding on What a cryptocurrency wallet is, all the different types of wallets available, best options etc, see our article, “What is a Cryptocurrency Wallet. How they Work and Best Wallets.”
Final Thoughts On The Jaxx Wallet
Jaxx has incredible features that classify it as one of the best options, and it tops the list of popularity in terms of wallets.
Although Jaxx has some flaws, this wallet—along with its wonderful features—make those details look pretty insignificant. Also, its security support has improved to protect user funds.
In general, the wallet is very well designed and offers a wide variety of excellent features, which allow you to have an optimal experience.
Some of the features were incorporated because this platform took into consideration those people with little experience.
Regardless of Jaxx being used on mobile or computer, the experience with the system is likely to be intuitive and hassle-free.
Jaxx Liberty has a leading user interface and security protocols and should be a wallet you consider in your crypto journey.
The Jaxx Liberty wallet could become a standard option for other cryptocurrency portfolios soon due to its solidity in terms of its product.
Be sure you don’t overlook our List of Battle-Tested Recommended Tools for Crypto! They have a lot of options available but most should not even be considered. Let us help you with our top choices in each category.