How Does Jaxx Wallet Work?
Created with simplicity in mind, the Jaxx wallet is a multi-asset supporting crypto wallet that is integrated into six different platforms. From Windows, Linux to iOS and Android, the Jaxx wallet is extremely easy to use and manages tasks like sending and receiving crypto in a simple and beginner-friendly manner.
The Jaxx wallet was founded by Anthony Diiorio in 2014 and supports cryptocurrencies like Ethereum, Bitcoin, Dash, and many others.
Connecting Your Jaxx Wallet To ZenLedger For Your Crypto Tax Forms
- To import your Jaxx transactions into ZenLedger for your crypto tax forms, all we need is your public wallet address
- Paste your wallet address into the Jaxx wallet address field in ZenLedger
- Select the proper coin from the dropdown list
- Now, choose if the wallet is based in the USA or not
- Then hit add a coin
How Does Jaxx Wallet Work?
You can download the desktop application, Chrome extension, or even the mobile applications (iOS and Android), at your convenience.
1. Downloading And Installing The Jaxx Wallet
- Visit the official website of Jaxx wallet and download the app
- You can verify the authenticity of the file to be downloaded, as Jaxx will provide you a checksum for every download. You can match this checksum with that of the downloaded file
- Open the .exe file and complete the installation process
2. Setting Up And Wallet Creation
- Once you have downloaded the wallet, the screen will give you the option to either create a new wallet or restore your old wallet
- To create a new custom wallet, click the “Custom” option. You can also choose the “Express” option, but the Custom wallet will allow you to set up all necessary security features before using the wallet
- After choosing the wallet type, it’s time to choose the cryptocurrencies that you want to store in the wallet. You can add or remove coins at any time after the wallet has been created
- You now have to enter the 12-word Master seed phrase that was mentioned at the beginning of the installation process. This phrase will help you gain access to your coins in case your device is lost
- Finally, you have to set a 4-digit security PIN code for regular access to your wallet. Your Jaxx wallet is now ready for use
3. Sending And Receiving Cryptocurrency
To send and receive crypto using your Jaxx wallet, just follow these steps:
- Click the cryptocurrency (Bitcoin, Ethereum, etc.) from the top of the screen and tap ‘Send’
- A box will appear on the screen where you now have to enter the recipient’s address. (For this, you can either copy and paste the address or scan the barcode. Alternatively, you can also click a picture of the receiver's barcode which will auto-enter their address)
- Now, enter the number of coins of the crypto you’d want to send and click ‘Send’
Jaxx wallet lets you create a QR code with the exact amount that you want to receive.
- Click “Receive” at the top of the screen and select the cryptocurrency that you want to receive
- Now enter the number of coins you want to receive and the screen will display the US dollar equivalent to you. Then click ‘Generate’
- You can now see the unique QR code on your screen. When someone scans this QR code, they’ll know the exact amount of coins that should be sent to you. This is especially useful if someone is sending funds from a third-party app
Is the Jaxx Wallet Safe?
The most important aspect that you must look into is its safety. Let’s look at the security features of the Jaxx Wallet:
When you download the Jaxx wallet, you won’t be asked for any personal permission. This not only gives you more privacy to your funds but also ensures that your private key is safe. Jaxx Wallet stores your private key locally in the device itself, thus keeping the risk of being hacked at bay.
Apart from this, the fact that the Jaxx wallet does not ask for personal information, makes it more anonymous.
A backup seed phrase or a passphrase will help you recover your wallet and restore your funds in case of loss or theft.
The one odd thing about the Jaxx wallet is that it does not support two-factor authentication or multi-signature authorization.
The Bottom Line: Why Choose Jaxx Wallet?
Here’s why you should choose the Jaxx wallet:
- Multi-asset wallet supporting 90+ coins
- Beginner-friendly interface
- Built-in exchange
- Unique QR code generation aiding cross-platform pairing