What is Jaxx Wallet
Jaxx as a multi wallet
The Jaxx Wallet is already known to many and is available for many platforms such as desktop computers (Windows, Linux and Mac) or smartphones such as Android and iOS devices from Apple. In addition to the clear user interface and easy handling, the large number of supporting crypto currencies directly creates a positive effect for many wallet seekers.
Which cryptocurrencies does Jaxx support?
The multi wallet Jaxx manages a variety of different crypto currencies via an app or a program. This is convenient and, above all, offers newcomers easy access to a wallet by directly supporting and managing several known crypto currencies.
Jaxx is a crypto wallet that is available for download on 8 platforms. The Jaxx wallet is a popular choice of Bitcoin users and cryptocurrency traders worldwide, recognized for its security, privacy and simple but powerful features. The only disadvantage is that the wallet is not available in German. Once you've bought Bitcoin, Ethereum or other digital currencies on an exchange like Coinbase, Litebit or Binance, it's time to take control of the coins and not leave the currencies lying around.
The Jaxx developers
Jaxx was developed in 2014 and has been continuously improved and expanded since then. The Canadian company Decentral Inc. is behind the whole application. The company was founded by Anthony Diiorio, who was a co-founder of Ethereum and was looking for a way to manage the coins. Since then, the application has grown and already includes over 25 different cryptocurrencies - not on every platform, but all of them are being further developed and updated. However, this can take a little time depending on the platform.
Jaxx wallet in the test
I used Jaxx over a year ago and found the wallet really helpful at the beginning. Currently, my crypto currencies have expanded a lot and the handling has changed somewhat through trading, which means that I no longer really use this app, but I will now set it up again, because you can map a lot with a wallet.
Download the Jaxx Wallet
Let's start by downloading Jaxx. First of all, I would like to use the current desktop wallet for Windows, as it is easier to describe it. Later I will briefly talk about the mobile app variant.
But now for the download: Download the Jaxx Wallet from jaxx.io
To do this, simply press the orange download button and the installation file will be downloaded. Then you open the .exe file and the installation is completed within a few seconds and Jaxx opens automatically. After the installation, I will show you in the following animation how you can easily set up the wallet - and it's actually very easy.
The procedure I mentioned is a very simple wallet, which is usually sufficient. The only drawback with this facility is that you should read out the phrase later, save it and assign a pin, otherwise everyone on the computer can open and use the wallet. More on this below.
My approach to animation explained in a few sentences:
- Click "Create New Wallet"
- Select Express or Custom Wallet
- Select the desired currencies - For me it's Bitcoin, Ethereum and Ethereum Classic
- Your new wallet opens and is ready
Configure Jaxx Wallet
With Jaxx you can still make some settings after the installation and personalize the surface. On the one hand, I would like to show how additional wallets can be activated later and, on the other hand, it is interesting for many to see the conversion into euros. To do this, I proceed as follows:
- Open the settings at the top right
- Switch to the Wallets tab and select the wallets you want. In my case, Litecoin and Dash
- The settings can be closed using the arrow at the top right and LTC and DASH are now next to my ETC wallet
- If you switch to one of these wallets, they are initialized and are active
- The currencies (CURRENCY) can be called up and selected again via the settings. I select EUR Euro and close the settings
- You can now see the selected currencies in the individual wallets. For me it's not only euros but also US dollars.
Use the Jaxx wallet
With the installation of the wallet, you are able to transfer the desired Krpto currency into your wallet. This is done by sending the currency to your wallet address. This is similar to a bank transfer, but can be carried out directly from a trading platform or a service provider. In the animation below, I show a purchase via Litebit for Jaxx.
My approach explained in a few steps:
- In the upper Jaxx bar you can see my three wallets (BTC, ETH, ETC)
- I click on ETH (Ethereum) and switch to the Jaxx Ethereum Wallet
- Then I copy the Ethereum address by clicking the copy symbol next to the address and the green message appears.
- Then I call up Litebit and buy Ethereum worth 250 euros. To do this, I enter the copied address in "Receive Address" and make the purchase.
- After Litebit has made the purchase, the transaction will be made on the Jaxx Wallet. This can take a few minutes to an hour.
Secure your wallet
An important aspect is securing and securing wallets. On the one hand, you want to prevent access for third parties with the protection and on the other hand, it is important that the wallet can be restored if the computer or smartphone is broken.
Securing the wallet is relatively easy and is done with a four-digit PIN code. To do this, the Jaxx settings must be called up, selected under the "Settings" menu and then called "Setup Security PIN". An input mask opens.
- Enter the four-digit PIN code and confirm
- Enter the four-digit pin code again to confirm
- The wallet is now secured with the pin and must be entered for all actions (e.g. changing settings, sending crypto currencies, etc.).
The wallet is backed up as follows: Call up the settings, select “Tools” under the tab and select “Backup Wallet”. First, take a look at “View Backup Phrase” and type these 12 words in a safe place. This is the backup key for the wallets or your current Jaxx account.
What is a wallet?
In order to do justice to newcomers, what you need a wallet for, I will give a brief introduction to wallets here.
A wallet is required to store and manage your cryptocurrencies. I like to compare it to a digital wallet in which its cryptocurrencies such as Bitcoin, Ethereum, IOTA or all others are lying around.
How does a wallet work?
A wallet is basically just the management of the crypto currencies and accesses the respective protocol, for example the Bitcoin blockchain, because your wallet always has its own address. You can imagine it better with a bank account: At a bank you can have several accounts and for each account you get an account number that is unique and belongs only to you. If you want to receive money, you transfer a certain amount to your account number. This will always arrive there and you only have access to it. The same applies to sending money to another account. This is how you transfer money from your account to another. The same is also possible with wallets, only that there is no bank in between and the transaction is usually transmitted directly to the recipient.
One wallet for all cryptocurrencies
Most cryptocurrencies are based on different technologies, but there are also many that share a "technology". This makes it possible to have a wallet with several currencies. Most of the time, the individual crypto currencies provide projects with their own wallets that only support one currency. There is currently no wallet for all currencies and probably never will.
Depending on which cryptocurrencies you own, it is advisable to look for a wallet that supports the majority. You can of course set up your own wallets for each coin, but that gets confusing at some point.
Why are wallets so complicated?
For this very reason I try to help you, because the inquiries about complicated wallets are increasing, but in general I can say: Wallets are simple, even very simple, only they are new to us, which is why we get used to their handling and handling have to. We are currently the same as at the time of the first online accounts. Even with the whole Tan process, this took years until everyone had used this variant. With the wallets I have presented, I would like to present some that I consider to be good, clear and simple. If you have any questions about the wallets, please feel free to write me a message.
All information, tips and forecasts I have given are only intended to illustrate current trends. There are no guarantees or safeguards for investments. Everyone has to decide for themselves what to buy or which products / currencies / coins are worthwhile for a suitable investment. Losses or bad investments cannot be attributed to my forecasts or tips. Always acts correctly and with a clear conscience.
The content provided does not constitute investment advice or investment brokerage. The analyzes are also not to be understood as an invitation to trade but only reflect the opinion of the author. All statements about cryptocurrencies and their possible price development are absolutely non-binding. In the event that users of the site trade based on the idea of analyzes, this is entirely at their own risk. The public and non-public content of the www.einco.de platform does not constitute financial services within the meaning of the German Banking Act or securities services within the meaning of the German Securities Act.
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