DISCLAIMER: Jaxx wallet has been removed from the public market, but you can still learn what you need with this extensive guide below.
Jaxx Liberty Wallet is a free crypto wallet in the form of a mobile, desktop application or a Chrome extension. You can store cryptocurrencies on it without incurring fees. The Jaxx crypto wallet falls into the category of non-custodial, hot wallets.
As a non-custodial wallet, Jaxx Liberty is compatible with roughly 80 digital assets. Through it, you’ll find essential coins like Bitcoin, Ethereum and Dogecoin. However, major crypto tokens like Cardano, Solana and Avalanche are not available.
Apart from crypto storage, the list of services offered by Jaxx hardware wallet are quite unique. You can buy crypto on the wallet or exchange them through ShapeShift exchange.
The Jaxx Liberty’s website is minimalistic to say the least.
Through it, it’s difficult to understand which products and services you have access to. This lack of transparency is a notable disadvantage of this crypto wallet. Considering this obscurity and the growing competition, Jaxx wallet could do better by focusing on its communication.
The founder behind the Jaxx Liberty wallet is Anthony Di Lorio.
In 2012, Di Lorio created the Toronto Bitcoin Group. In 2013, he then created the Bitcoin Alliance of Canada, which is now the Chamber of Digital Commerce Canada as well as the Kryptokit wallet. Later in 2013, he worked with the likes of Vitalik Buterin and Charles Hoskinson, becoming a co-founder of what’s the second largest token in the world—ether.
In 2014, his Decentral company was founded in Toronto where Di Lorio housed the second Bitcoin ATM ever in the country. At the beginning of 2016, the first Jaxx wallet was created as a classic “go-to.” At the end of 2016, the wallet already had 100,000 users.
In September 2018, his portfolio evolved and was transformed into Jaxx Liberty.
On the website, Decentral defines its goal as being, “On a mission to create opportunity and empower people around the world.” Initially, Jaxx Liberty was a mobile application. The wallet is now available through several different platforms.
Jaxx Wallet Features
Now, let’s take a closer look at the features of Jaxx Liberty Wallet.
Jaxx Liberty Wallet—Hot and Ready
The first thing to note is that Jaxx is a hot wallet. There is no Jaxx cold wallet. It’s constantly connected to the internet. The advantage in this type of storage is that you can quickly and easily access your tokens. In fact, just log into your wallet the same way you log into your online banking.
On the other hand, storing crypto online leaves your investments subject to attacks and other vulnerabilities. It is best not to leave large sums of money in any type of hot wallet.
The Non-Custodial Features
Another fundamental aspect of choosing a crypto wallet is the question of who’ll be responsible for your private keys. Keep in mind that a crypto wallet’s address is defined by a public key. By definition, these keys are public, and anyone can use them to send or receive funds.
On the other hand, your keys include a private key, being quite vital in the exchange of crypto. Private keys identify you as the owner, allowing you to access funds stored in your wallet.
Some crypto wallets act as a custodian by keeping your private keys. These wallets are referred to as “custodial”, “hosted” or “guarded.” If you deposit assets in such a wallet, you’re, literally, entrusting your crypto to a third party …
On the other hand, a “non-custodial” wallet allows you to maintain your private keys. You, therefore, maintain full control of your funds.
Now that you understand these differences, the good news is that Jaxx Liberty is non-custodial.
Multi-Blockchain and Multi-Crypto Specs
Jaxx Liberty is not just for storing Bitcoin or Ethereum. Jaxx can support several dozens of digital assets. As of September 2022, Jaxx Liberty was compatible with roughly 82 assets.
Note that a certain number of top-crypto tokens aren’t accessible within this wallet. From among the top 10-crypto coins, Jaxx Liberty only offers four. For Tether (USDT), Cardano (ADA), Solana (SOL), Polygon (MATIC) and Avalanche (AVAX), be sure to look elsewhere.
A Multi-Support Crypto Wallet
Based on our Jaxx wallet review, you have three formats—desktop, mobile and web extension.
Desktop—A desktop application for Windows, MacOS and Linux
Mobile—A mobile application for Android and iOS
Web Browser—A web extension for Google’s Chrome browser
To date, the Jaxx wallet app is highly rated within the App Store, boasting a 4.5 out of 1,600 reviews. On Google Play, the app has a rating of 3.6 from more than 5,600 reviews.
Jaxx Liberty’s Integrated Services
Unlike other wallets with extra features in addition to crypto storage, Jaxx Liberty is relatively limited. You won’t find services for staking, NFTs or DeFi applications.
Jaxx Liberty Wallet allows you to buy cryptocurrencies directly from its interface. This service is offered in partnership with the Swiss exchange ShapeShift.
As stated in our introduction, the Jaxx Liberty site is limited in its info. It’s impossible to know how many tokens are available or which currencies or payment methods are accepted.
Yes, Jaxx Liberty lets you exchange one cryptocurrency for another via ShapeShift. The service is interesting because it saves you from transfering funds to an exchange platform, but here again, the lack of transparency from the Jaxx Liberty wallet leaves us with much to be desired.
Supported Paper Wallets
As you likely know, cold wallets are more secure than hot wallets. Professionals use a cold wallet to store large quantities of crypto. Interestingly, with your Jaxx Liberty hot wallet, you can create a particular type of cold wallet—the paper wallet.
A paper wallet involves you printing private keys on a sheet of paper. Through Jaxx’s service, however, once you’ve printed a paper wallet, your funds are no longer on Jaxx’s digital wallet. To access “paper” funds, you’ll need to use the paper wallet import function.
Transferring Jaxx crypto to a paper wallet is secure because your money is no longer connected to the internet afterward. On the other hand, it goes without saying that you’ll have to take all the necessary precautions to keep your paper wallet safe!
No-Connection Hardware Wallet
Another type of cold wallet, which is the most popular in fact, is the hardware wallet. The market leaders in this area are the French giant, Ledger, and the Czech company, Trezor.
Some online wallets like Guarda or Daedalus make it easier to communicate with Ledger and/or Trezor. Unfortunately, the Jaxx Liberty wallet is not compatible with hardware wallets.
It is completely free to download Jaxx Liberty online. There’s no charge for using the wallet. On the other hand, the services offered by Shapeshift, including the purchase and exchange of crypto, do generate fees. This is how Jaxx Liberty makes its revenue.
From each transaction, there are also network fees. Network fees are linked to the operation of a blockchain and are completely independent of the Jaxx Liberty wallet and ShapeShift.
In seeing a digital world explode, Joseph invested his writing in the field of technology over 8 years ago. As a leading-content creator, he believes in clarity, credibility and writing topics people want to read. From blockchain to Web3.0, Joseph sees no shortage of developments as crypto pushes forward. He’s become a voice in technology that people can trust and look forward to hearing more from.