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Cryptocurrency Forensics 🚀🌑

Jaxx Multi Currency Wallet altcoin Review

Jaxx Multi Currency Wallet altcoin

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Introduction to Jaxx Wallet Service

Jaxx is a wallet service that was initially developed by Ethereum co-founder Anthony Di Iorio in 2014. While it offers standard wallet functions like buying, selling, and transactions, its unique feature is the ability to convert between different cryptocurrencies within the wallet. The platform boasts extensive support for a wide variety of cryptocurrencies, aligning with its goal to back a diverse range of projects. Furthermore, one of Jaxx's core objectives is to grant users complete control over their private keys, which are stored locally on the client side and never accessed through external servers.

Key Features and Limitations

Jaxx wallets operate on a hierarchical deterministic structure, but they lack multi-signature functionality and the option to enable two-factor authentication. As the code is not open source, the assessment of its security level is limited. The wallet provides users with a single master seed backup for account recovery. Users can view their spendable balance within the wallet interface and utilize the "max send" feature for convenience.

Compatibility and Ease of Use

Jaxx wallet is supported across a wide range of platforms, including browsers, Android, and iOS devices. It has gained a reputation for being relatively user-friendly and facilitating effortless cryptocurrency exchanges among the supported assets within the wallet.

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Pros & Cons

  • Initiated by an Ethereum co-founder in 2014
  • Enables standard wallet operations as well as in-wallet conversions of supported cryptocurrencies
  • Offers compatibility with an extensive selection of cryptocurrencies
  • Stores private keys locally on the client side
  • Employs hierarchical deterministic technology for wallets
  • Compatible with a diverse range of platforms
  • Recognized for its user-friendly interface and ease of use
  • Does not provide support for fiat currencies
  • Lacks multi-signature functionality
  • Does not offer the option for two-factor authentication
  • The codebase is not open-source

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