Jaxx Liberty (previously Jaxx Wallet), is a multi-platform blockchain wallet that allows users to create and manage multiple digital assets and send, receive, and trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dogecoin.
Users can create a Jaxx Liberty wallet on any device and migrate it to any other platform running the software using their 12-word backup phrase or a QR code. This way, users can manage their cryptocurrency assets at any time, regardless of which device they use. Once a wallet is created, users can buy, store or transfer over 80 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and centralized exchange tokens MCO (Crypto.com) and BNB Coin (Binance).
The most crucial feature of Jaxx Wallet is that users do not need to register for, sign in or log in to an account to use Jaxx Wallet.
The Jaxx platform users cannot earn interest on their assets by staking them directly through the wallet, and the company has no plans to add this at the moment. In addition, users can store their non-fungible tokens in the wallet, but they cannot manage them directly through Jaxx Liberty.
Jaxx Liberty used to have a customer support system that worked through social media sites and support team email. But fraudsters, imposters, and hackers found it easy to replicate these and dupe customers. So Jaxx Wallet has now shifted to an exclusively in-app system.
The Jaxx Wallet has many different security checks and tools to ensure the safety of its users. It does not take any personal information from the user. This avoids the possibility of data breaches of sensitive information. When using a Jaxx Wallet, the user has to generate a secret, private key. This private key will be the only way for users to access their funds. It will not have any information on this key. It can only be stored on the user’s native device.
There is only one known case of the wallet being hacked since the year of its launch (2014). In 2017, the wallet was installed on a “jailbroken” iPhone accessed by hackers. The hackers managed to steal ETH worth $400,000.
There is a report about the researched vulnerability published in 2017, and it seems that the Jaxx team is not ready to fix this vulnerability. This breach allows hackers to obtain the 12-word backup phrase.
Founded in 2015, Jaxx was developed by the Canadian Anthony Di Iorio (PR42 profile) , co-founder of Ethereum and CEO of Decentral Inc.
Customer opinions about Jaxx are split. However, the company may receive increased negative reviews about withheld funds or incorrectly shipped coins in H2 2022 amid the crypto bear market.
Since it is not clear on the site whether the company is licensed, we classify Jaxx as a precaution in our “Orange Compliance” list.