When one wants to invest some money into crypto, one must take care of its safe storage in the first place. No seasoned trader will leave a large sum of coins on his balance on the exchange as it cannot guarantee their security. Hence, most crypto holders prefer transmitting their assets to offline wallets.
In practice, this product is a piece of software that must be installed on your desktop computer. Nevertheless, this program does not store the coins themselves, instead, it keeps the key to the blockchain where your assets are stored. Hence, the company does not have access to your coins, you are the only one to obtain control over them.
Now, let us provide a short Jaxx wallet review so that you can easily reach a decision on whether it is worth your attention. We will start with its benefits:
- over 80 coins are supported — so, you can store all your cryptos in one place;
- exchanging cryptocurrencies right in the wallet;
- a cold storage feature is accessible;
- no commissions for installation/usage;
- an easy-to-navigate design;
- a seed phrase containing 12 words;
- in case you lose your device or private key, you can restore access via the backup seed function;
- operability on any device (Windows, Mac, Linux, iOS, and Android);
- a web app — an extension for Google Chrome;
- you can control your coins from multiple gadgets;
- QR code support — depositing/withdrawing coins at ease plus using them for paying for your purchases at stores;
- enhanced transparency — its code is available for everyone to check;
- it does not demand users to share any personal information.
Speaking about its weak points, experts consider it to be less safe than identical hardware solutions and even some other hot wallets (as it does not offer a 2FA precaution). However, as of now, there have been no security breaches on the part of the company or its software. There was a well-known incident of one of the users losing his coins, yet, that was his own fault.
In sum, we must acknowledge that this wallet is a beneficial choice for virtually any crypto holder. So, if you are looking for a safe long-term storage solution, you can make use of its multi-currency cold storage feature. On the other hand, if you need a mobile app that will keep your coins secure but within easy reach and allow depositing/withdrawing/using them for payments with a couple of clicks, it will also meet your needs totally.