There are different types of cryptocurrency wallets in the market. One of them is Jaxx Liberty, which became one of the most requested and used wallets in the cryptocurrency market due to different reasons. It offers users different solutions and it is now among the most popular wallets to hold, send and receive digital assets.
In this Jaxx Liberty wallet review, we will analyse its main characteristics and features. Additionally, we will let you know how secure this wallet is and why you should consider it if you are buying and selling virtual currencies. Furthermore, we will tell you how crypto wallets work to have a clear understanding of the Jaxx Liberty wallet and its features.
What is a Cryptocurrency Wallet?
In the cryptocurrency market, we have exchanges and wallets. These are two of the main pillars of the crypto industry considering that without these two types of platforms, the expansion of virtual currencies would not be possible.
A cryptocurrency wallet makes it possible for users to store their virtual currencies without being worried about losing their funds due to hacks or attacks. Holding virtual currencies at a cryptocurrency exchange is not safe. Indeed, dozens of virtual currency exchanges have been hacked over the last few years.
Using a non-custodial cryptocurrency wallet, you become the owner of your virtual currencies. Although it can be hacked, it is your own responsibility. That means that you want to make sure that your wallet is correctly protected from possible attacks and malicious parties.
Depending on the type of wallet you use, you will have more or fewer chances of being attacked. You should make sure that you use the right wallet for the right things. Some wallets are better for long-term holders while others are better for short-term investors that want to use their digital assets in different ways.
There are several companies offering crypto wallet services and Jaxx Liberty is one of them. This guide would focus on Jaxx Liberty but many of these sections of this post include general information about wallets and the general crypto market. This context is necessary to understand some of the main characteristics of Jaxx Liberty and how this crypto wallet is offering solutions to crypto users from all over the world.
Types of Crypto Wallets
As we mentioned before, there are different types of cryptocurrency wallets that would offer you different levels of security and features. Some of them are more secure while others might be easier to use. The wallet you choose depends on the needs you have.
Software wallets are some of the most used and user-friendly wallets. They are usually the best option if you want to handle digital currencies on a daily basis without having to be worried about leaving your funds in a cryptocurrency exchange.
These wallets can be downloaded to your smartphone or to your desktop computer. This is why they are known as software wallets. They are simple programs that can be downloaded and used to receive, send and hold virtual currencies.
Jaxx Liberty is a good example of a software wallet. It can be sued as such to customize, track and manage your crypto portfolio in seconds. As a non-custodial wallet, you will be able to own your private keys. That means that you do not have to be worried about giving control of your crypto to a third-party platform.
Software wallets, however, might not be the most secure wallets in the world. Why? Because they could be attacked by malicious parties through viruses. If you want to hold your funds and protect them from external threats, you should make sure your phone and desktop computer are updated and do not have any type of virus.
One of the positive things about software wallets is related to their easy-to-use interface. They are very easy to handle and they do not require users to pay for them. You can be in control of your virtual currencies in seconds using Jaxx Liberty wallet without having to pay for their services.
Hardware wallets, instead, are different. They are more secure but also paid. They offer investors the most secure wallet experience to hold their assets. Hardware wallets are devices that look like a pen drive and that store the private keys of the wallet offline. That means that attackers would not be able to get your private keys online.
Hardware wallets have been created for long-term holders that would like to hold their virtual currencies in a safe way. Additionally, hardware wallets have been created for users to hold larger amounts of cryptocurrencies.
There are, however, two things to mention about hardware wallets. The first thing is related to the price. Hardware wallets are paid devices. You cannot get a hardware wallet for free. The second thing is related to the fact that they are not so user-friendly as software wallets. Indeed, hardware wallets might be somehow difficult to handle for newcomers. This is why they are always advised to start with a simple software wallet.
If you want to hold, send and receive virtual currencies regularly, you should definitely get a wallet such as Jaxx Liberty. Instead, if you are a long-term holder, you could get a hardware wallet.
What is Jaxx Liberty Wallet?
Let’s now go to what Jaxx Liberty wallet is and how it works. Jaxx Liberty is known for being one of the new digital currency wallets. It is indeed a so-called 2.0 crypto wallet due to the large number of functionalities that it offers.
Jaxx Wallet offers support to dozens of cryptocurrencies directly on the wallet’s home screen. That would let you control, check and understand your portfolio. In addition, you will be able to see your transaction history and check detailed information about each of the coins you handle or the transactions you’ve made.
If you were wondering about which is the distinction between Jaxx vs Jaxx Liberty, there is no distinction. Jaxx is just a simpler way to name your Jaxx Liberty cryptocurrency wallet. Now that this has been clarified, we can continue with other of the features that are currently offered by this wallet.
As we mentioned before, this is an advanced 2.0 crypto wallet. Why? Because it goes far beyond offering the possibility to receive and send virtual currencies. Users can also interact with a large number of third-party providers. In this way, a cryptocurrency wallet that in the past was only offering a few features became a very useful application that lets you handle and manage your virtual currencies in many different ways.
Another thing that we should mention about this wallet is the possibility that it offers users to download it on multiple platforms. This is certainly very positive as you do not need to use the same platform to handle and get access to your virtual currencies.
Finally, you can also use their cryptocurrency-news services that would let you get the latest news related to blockchain technology and digital currencies. Rather than checking other news sites, you will have everything directly in your wallet.
How to Use Jaxx Liberty Wallet?
It is very easy and simple to use the Jaxx Liberty wallet. There are no special requirements for you to know and you can start using it as soon as you download it. No matter if you are using a desktop version of the app for smartphones, the way to handle your digital assets is very intuitive and easy.
The first thing is to go to Jaxx Liberty download. You should select the type of download you want (depending on the type of device you use: smartphone, desktop, etc). This would let you open an account in seconds and start receiving, sending and holding digital assets.
When you create a wallet, you will have to also properly store your private keys. These private keys are very important as they would let you get access to your funds in case you lose your wallet. The private keys are one of the most important parts of Jaxx Liberty wallet (and any other crypto wallet). This is why you should properly store them and make sure that nobody can get access to them.
Once you have created the wallet, you are ready to go. You can send and receive virtual currencies in seconds using the many features offered by the Jaxx Liberty wallet. Depending on the type of activity you want to do, you would then have many other features inside the wallet.
Jaxx Liberty Wallet Features
As we have already mentioned, there are different features that you should know about Jaxx Liberty wallet. Due to the fact that this is a 2.0 cryptocurrency wallet, there are many other things you can do besides holding, sending and receiving digital assets.
If you want to handle a cryptocurrency portfolio, then Jaxx Liberty could be one of the best options for you. Indeed, this wallet would let you manage a wide range of virtual currencies. You do not only be able to hold Bitcoin, Litecoin and Ethereum, but you would also have the possibility to hold other digital assets.
Moreover, thanks to the easy-to-use interface offered by Jaxx Liberty, users would also be able to get valuable information about their portfolios. For example, they can check which is the price of each of the virtual currencies, which coins they hold and more. Everything is easy to understand and clearly shown in the app.
Additionally, you can get access to your portfolio using different wallet interfaces (desktop or smartphone).
Buy and Sell Cryptocurrencies
If you thought that a wallet could only let you hold, send and receive virtual currencies, then you were mistaken. Jaxx Liberty makes it possible for you not only to handle your digital assets but also to buy and sell cryptocurrencies.
Usually, when we want to purchase BTC or any other cryptocurrency, we go to an exchange, we deposit fiat currency and we buy the coin we want. But things do not work in this way with Jaxx Liberty. Indeed, you could use the wallet to buy and sell virtual currencies without having to directly use an exchange.
Yes, you can use different payment methods and the funds will be directly added to your wallet. This reduces the fees you pay when you withdraw funds from an exchange and it also avoids possible mistakes while sending the funds to your wallet.
Support to Dozens of Blockchain Networks
When we talk about the Jaxx Liberty wallet, we are also talking about having the possibility to handle not just Bitcoin and Ethereum, but also dozens of blockchain networks. The cryptocurrency market has been expanding over the last decade and we now have more than 10,000 digital assets, some of them with their own blockchain networks.
This is why Jaxx Liberty is ready to give you all the possibilities to handle your digital currencies without having to be worried about compatibility. Most of the largest virtual currencies would be supported by Jaxx Liberty, meaning that you can build a strong portfolio.
You would not have to focus again on searching different wallets for the project you want to bet on, but you can hold all your coins using Jaxx Liberty.
Furthermore, you can also make sure that Jaxx Liberty is working with some of the most recognized companies in the cryptocurrency market to offer even more solutions to its clients. While most of the wallets allow users to buy and sell digital currencies, Jaxx Liberty is working with other firms to expand the offering of solutions that it has.
According to Jazz Liberty, they are now working with a wide range of companies such as ShapeShift, Zendesk, SendGrid, Google and many others. This makes it possible for Jaxx Liberty users to get access to even more solutions that would otherwise not be able to have.
Is Jaxx Liberty Wallet Safe?
Yes, Jaxx Liberty is a generally safe wallet to use to hold your virtual currencies. However, you should always make sure that you download the official version of the wallet and that you do not give your private keys to anybody else.
Holding and storing your private keys in a safe place is definitely important to avoid further problems in the future. With your Jaxx Liberty wallet, you can send, receive and store digital assets in a safe way.
Finally, Jaxx Liberty is a reliable wallet that aims at securing users’ assets. You should always back up your recovery phrase and protect your devices from malware. Overall, Jaxx Liberty offers a high degree of security for users that want to use their virtual currencies on a daily basis.