Wallets that can manage more than one cryptocurrency are very convenient. With the wide variety of coins in the crypto world, these kinds of wallets come in handy to investors and traders that use more than one currency. The Jaxx Liberty Wallet is an upgrade of the Jaxx wallet and offers support to multiple currencies.
It has numerous features, including the option to buy and sell coins within itself. This article will discuss the features and advantages of using the Jaxx wallet.
This wallet has an easy to use interface that is simple and professional. It conveniently can operate on all desktop operating systems and goes the extra mile even to allow a google chrome web extension. Jaxx Liberty allows cryptocurrency exchange operations without the need to download entire blockchains.
The Jaxx wallet allows user customization to show only the coins and tokens that interest the user. The web extension of the Jaxx wallet works similarly to the application itself.
Advantages of the Jaxx wallet
- The Jaxx wallet uses light nodes. It does not locally download the whole blockchain to operate. It simply requests the necessary information from the full nodes online. This makes it faster and more efficient.
- The user interface offers a comprehensive dashboard which includes diagrams and live charts that are interactive and beautiful. The wallet is especially convenient for new users because it is easy to understand and operate.
- The Jaxx wallet offers multicurrency support. A user can manage more than 50 currencies in the same software. Multicurrency support is useful because it allows the exchange of one cryptocurrency for the other within the same application allowing users a broader trade environment.
- The wallet has a built-in exchange feature that allows the transfer of funds within it. This is a time-saving tool for multicurrency users.
- The Jaxx wallet has a 24/7 user support team that attends to user inquiries. Users can get advice and solutions to any issues they have when they contact the Jaxx helpdesk at any time of day or night.
Challenges of the Jaxx wallet
- The Jaxx wallet is created using closed source programming. Closed source program codes are more difficult to debug in case of glitches in the program code. Open source code is easier because any user can view and identify problems in the code before they bring a challenge.
- The security of the Jaxx wallet uses single-factor authentication. Users would be more comfortable if they would have been provided with an additional layer of protection for their funds.
- The Jaxx wallet has a built-in exchange fee. Users are charged a standard fee when exchanging their funds. This fee makes the wallet inconvenient for users who want to transfer small amounts.
- The Jaxx wallet is a hot, online wallet. Online wallets are vulnerable to attacks from hackers and fraudsters. The developers recommend that users do not store large sums of assets in the wallet.
How safe is the Jaxx wallet?
The Jaxx wallet gives users’ full control of their private keys. He or she can import and export them to other wallets at will. Users have full responsibility to keep them safe, and the company has no affiliations with them when they get lost or hacked.
The Jaxx wallet has frequent automatic updates. Developers review both the desktop and mobile applications frequently to check for vulnerabilities and improve security.
Jaxx wallets allow users a high level of privacy and anonymity. It keeps the details of the sender and recipient private by generating random address pairs for every transaction. Using different public keys for every transaction keeps the start and end points of the transaction private within the public ledger.
To enhance privacy, a user can use Virtual Private Network (VPN) settings which encrypt the internet traffic and distinguishes it through different servers. Therefore, the sources of the transactions that users broadcasts become difficult to trace.
The Jaxx Liberty wallet is worth the attention of any cryptocurrency enthusiast. To install it, visit the Jaxx website using the desktop or mobile phone you want to use and download the application. Install, register by setting up your security credentials and specify the coins you wish to use.
The simple interface of the Jaxx Liberty wallet will guide you through the set-up.
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