Learn everything you need to know about the Jaxx Liberty Wallet and find out why many consider it to be the 2.0 version of cryptocurrency wallets.
There are thousands of coins in the world of cryptocurrency. Because of this overwhelming amount, wallets need to be capable of properly handling them. What’s more, the ideal wallet of this nature should be able to manage more than one coin type. An ability like this makes it incredibly convenient, as well as appealing to consumers. With that in mind, the crypto industry saw the release of Jaxx back in 2014. Over the years, its popularity as a multi-currency crypto wallet would skyrocket.
This wallet is a great choice for those in the world of cryptocurrencies that are beginners. Even with that advantage, it is still a favorite among crypto users that have more experience. Its creation was thanks to Decentral, which is the leading Canadian blockchain company that was founded by Anthony Di Iorio. Not only that, but he was also a co-founder of Ethereum, which adds more credibility to his skills.
According to the official website:
“Decentral is an innovation hub for disruptive and decentralized technologies. Decentral was home to Canada’s first two-way Bitcoin ATM and from time to time hosts community-driven events in the domains of fintech, blockchain, cryptocurrencies, and decentralized technologies. Our purpose is to champion the decentralized movement by building the technology that empowers and creates wins for all.”
Over time, Jaxx would go on to be extremely popular with millions of cryptocurrency users. During the summer of last year, users began to anticipate a brand new version of the wallet. Eventually, Jaxx Liberty was released. This version contains an array of new features to make the wallet even more powerful than before.
What exactly is it?
The best way to describe Jaxx Liberty is that it is the 2.0 version of cryptocurrency wallets. At its core, it’s a multi-currency wallet that is able to hold over 85 different digital assets. Recently, it underwent gamification in order to help new users experience and enjoy what blockchain technology offers.
Jaxx Liberty consists of a variety of brand new features that distinguishes it from the rest of its competitors. A notable feature is ShapeShift integration, which allows users to effortlessly switch between different cryptocurrencies. Moreover, they can do so without any exchange fees or delays.
Probably one of the most appealing features of this wallet is its ability to store and transact with different cryptocurrencies. There are thousands of cryptocurrencies to choose from. Because of this, it’s not uncommon for users to possess several of them at once. So, by being capable of keeping them all in the same wallet, it makes the wallet solid and convenient. The coins that you are able to store in Jaxx Liberty include the following, among many others:
- Bitcoin Cash
You can find the full list of coins that this wallet supports here.
At this point in time, there appears to be no support from this wallet for Ripple (XRP). This has not gone unnoticed by users, who have voiced their complaints on the matter. While there’s no indication that Ripple will receive support, the Jaxx development team is very involved with the users. This, in turn, adds another noteworthy feature to the list: the team behind Jaxx listens to their consumers.
Jaxx Liberty Wallet’s Straightforward interface
Jaxx Liberty has an easy-to-use interface, as well as a design that is both simple and yet professional. The wallet operates on all desktops, mobile OS, and also chrome/web extensions. To make this even more interesting, it is all possible without having to download entire blockchains. This is because light wallets rely heavily on other full node wallets on the network. Jaxx Liberty lets you have full control of the key pair and stays away from the funds. In other words, they neither hold nor have access to them.
On the whole, this wallet has a plentiful amount of features. Each one of them receives backing from professional and skillful customer support. You have free reign to customize your Jaxx Liberty HD wallet. Moreover, you can adjust it so that it shows only the coins/tokens you want.
Another prominent advantage is the app’s web aspect. To elaborate, the browser extension is actually the wallet itself. With that in mind, it is important to remember that, as a hot wallet, it will work online. This makes it tempting for people who want to hack your accounts. It would be wise that you remain cautious and store small amounts of assets.
Jaxx Liberty is a first-rate performer when it comes to daily transactions. To reiterate a point from earlier, this is not a new wallet. Rather, it is a rebranding of the previous one, which was merely Jaxx.
Creating a wallet
In order to create a new wallet in Jaxx Liberty, you have to download the application on your device first. As soon as its launch is complete, Jaxx Liberty will receive support from eight different platforms.
Downloading Jaxx Liberty is quite simple and the process itself is free and easy to understand. You are able to acquire the desktop version (Mac, Windows, Linux) and Chrome browser extension from the Jaxx Liberty website. It is not mandatory for you to provide any personal information. Upon the completion of your wallet download, you can quickly install it and go forth with using it.
If you are particularly cautious about the PC wallet’s authenticity, then worry not because there is a feature for you. It is a process that goes by the name of “checksum” and it is available on the wallet to install files. These are a specific type of terminal commands. You can run them on your local machine, which should output those that are on the Jaxx website.
After you download and install Jaxx Liberty, you will see a page that gives you two options. One is “Create New Wallet” and the other is “Pair/Restore Existing Wallet.” Select the first option. As soon as you do that, you will receive an invitation to review the Terms of Service. Then, it will take you through the wallet creation process. Eventually, you will come across the “Welcome to Jaxx Liberty” page and it’s here that you will be set to go.
Security with Jaxx Liberty Wallet
Among the most important factors when it comes to Jaxx is security. The platform takes this very seriously, especially after an unfortunate incident in June of 2017. During this time, there was a hack of the old Jaxx Classic wallet. This would result in the loss of $400,000 in numerous cryptocurrencies from user wallets. A good chunk of that loss was from a single user’s wallet. In that particular case, there was a chance of completely avoiding the mishap. This is mostly because the user was managing their Jaxx on a rooted Android device.
With the new Jaxx Liberty wallet, it has both password and PIN protection. Moreover, the wallet generation conjures up a secure 12-word backup seed phrase that encrypts on your own device. At no point does Jaxx ever have access to that phrase or your private keys. They are always secure and on your device. In addition, you can employ the use of this 12-word seed to effectively sync the wallet on multiple devices.
To access pre-existing wallets, you need to enter your 12-word backup phrase into the “Pair/Restore Wallet” feature. There are two ways you can go about doing this:
1 – Pairing from a new install
After downloading Jaxx Liberty, you will find yourself with the aforementioned “Create New Wallet” or “Pair/Restore Existing Wallet” options.
- Click the “Pair/Restore Existing Wallet” option.
- To continue, select “I agree” after you read through the Terms of Service.
- Either select “Enter Backup Phrase” or scan a QR code by tapping the camera icon (only available for mobile devices).
2 – Pairing on an existing install
Are you already using Jaxx Liberty with another wallet? If so, you can replace the pre-existing wallet you prefer to use. However, it’s important that you make sure you have copied the 12-word backup phrase in use. You can do this like so: Menu > Security > View Backup Phrase. By substituting another wallet, your current wallet will be overwritten. Furthermore, you can use that phrase solely for the purpose of restoring it.
- Click ☰ in the upper-right corner so that you can open the Menu.
- Scroll down to “Tools” and select the “Pair or Restore Jaxx Wallet” option.
- If you have it enabled, enter the security password.
- Select either Enter Backup Phrase or Camera Icon (again, this is only available for mobile devices).
What happens next
After you enter the correct backup phrase, the “Restore Wallet” button will promptly light up. You can click it and begin the process of syncing your wallet. Scanning a QR code will in turn automatically direct you to the orange “syncing” screen. If the syncing finishes, you should be able to see the “Welcome to Jaxx Liberty” screen. Here, you can select the “Continue” option to go to the main wallet page.
At this point, you should check to make sure that your backup phrase is correct. You can do so by following these directions: Menu > Settings > View Backup Phrase. The phrase should be the same as the one you put in at “Pair or Restore Jaxx Wallet”.
There could be an instance where you will enter your 12-word backup phrase, but the “Restore Wallet” button won’t turn orange. On the off-chance that this happens, make sure you spelled the entirety of the phrase correctly. Ensure that there are no spaces between any of the words.