The Jaxx Liberty is a popular multi-currency wallet for digital currencies that was launched in 2014 and is one of the best choices for storing large numbers of digital currencies.
In addition to being suitable for novice users, Jax Liberty also offers a wide range of possibilities for more experienced and professional users. The wallet was designed by the Canadian blockchain company Decentral. The founder of this company is Anthony Di Iorio, who has previously been involved in launching the Ethereum project. He is the eighth richest person in the field of digital currencies, with a fortune of approximately $ 700 million to $ 1 billion, according to Forbes magazine.
This wallet, which was called Jacks before July 2018 (July 1397), was renamed Jax Liberty during a very important update.
What is Jack Liberty Wallet?
Jax Liberty is a wallet for Bitcoin and other digital currencies used to store, exchange, receive and send digital currencies. Jack Liberty is known as the second generation of digital currency wallets. Jacks is a multi-value wallet that supports more than 85 digital currencies, and many high-value coins and tokens are supported by this wallet. The appearance of this wallet is designed to be very attractive to make the first experience of using Blockchainchain technology enjoyable for novice users. In fact, it can be said that the attractive and user-friendly interface is one of the main advantages of this wallet.
This wallet has advantages over its predecessor and other competitors. One of these benefits is ShapeShift integration, which allows users to exchange digital currencies with high speed and low fees without the need to transfer their assets to centralized exchanges. Jax Liberty supports various platforms for hot storage of digital assets and even cold storage of them in paper wallets. The security of Jacks Liberty has increased dramatically since the wallet was significantly updated in 2017. To transfer assets from the old Jacks wallet to the Jacks Liberty, simply use the wallet recovery option on the front page of the wallet instead of creating a new wallet and enter 12 Jacks recovery phrases in Jacks Liberty.
In the following, we will explain each of these features in detail and introduce other important features of Jack Liberty. We will also look at the difference between Jacks and Jacks Liberty and the reason for this upgrade.
Features of Jacks Liberty
After the 2017 update, Jacks saw extensive changes in its public and security features. In the following, we will review some of the most important features of this wallet.
Supports a large number of digital currencies
One of the most important characteristics of Jack Liberty is that it is valuable. This wallet supports most of the top coins and tokens on the market, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, IAS, Dodge Coin, Ethereum Classic, Dash, BAT and BNB. You can find the complete list of supported currencies on the official Jacks website See. This feature is suitable for people who use a large number of digital currencies for trading or investing.
The interface of Jack Liberty is awesome. With a single dashboard, you can get an overview of your capital and view your portfolio online. As such, this wallet is a great option for both novice and experienced users to store and exchange digital currencies.
The ability to view news from Blockchain and digital currencies has also been added to this wallet. General information and statistics about the price, price trend and market value of different currencies can also be seen in this wallet. In addition, Jax is a powerful block browser that allows you to view transaction information in different blockchains.
Possibility of exchanging digital currencies
As mentioned, another feature of Jacks Liberty is the integration with Shipshift, which has made the users of this wallet largely needless of digital currency exchanges. However, exchanging digital currencies in a wallet may require a high fee; But its security is much higher than centralized exchanges, it is easier to use and does not require the high expertise and skills required to use exchanges such as Bainance. Of course, it is worth mentioning that the use of internal exchange offices of wallets, in some cases, has restrictions for Iranian users.
Another feature of Jacks, which is one of the best features of this wallet, is the support of different platforms.
Support for various platforms
This wallet is available for various desktop platforms including Mac, Windows and Linux, as well as for Android and iOS mobile platforms.
In the previous version of the wallet, called “Jacks”, mobile platforms were extremely slow, and both mobile and desktop platforms had bugs; For example, in some cases, users complained that transactions were not finalized and had to make repeated attempts to register a transaction. By updating this wallet, these problems have been largely eliminated. It is worth noting that Jacks Wallet is free for all of these platforms.
Access to digital currencies in Jacks Liberty wallet is very easy. All you have to do is log in to your account and select the digital currency you want, and then start the payment or receipt operation. In addition, Jacks Wallet has one of the best support teams. Access to this support team is possible via email and social networks such as Twitter and Reddit.
The company has also proven its transparency many times and if there is a problem for the user, he can easily share his problem with the company. Reports of software bugs are also reviewed and fixed very quickly.
Jacks Liberty Security
Prior to Jacks Liberty update, Jacks’s wallet was hacked in 2017 and $ 400,000 was stolen from users’ assets, much of which belonged to one person. Almost all of these assets were Ethereums. The hacker managed to steal these assets from a jailbroken iPhone. A jailbroken iPhone is an iPhone that is unlocked for use on various networks. Although Jacks was not entirely to blame; But after the robbery, he was forced to improve his wallet security and replace Jack with Liberty.
The new wallet uses both a password and a PIN code to provide security. 12 security statements (Syd) are generated when creating a new address, Jax does not store these 12 words as well as the private key and only remains in the user’s device. These sids are very useful in recovering wallet information when your device is damaged or lost.
If you forget these 12 Sides, you will lose access to the wallet and its assets; So be sure to back up these 12 words and be diligent in preserving them.
The wallet also uses the “AES-256” encryption method and 5,000 hashes with the “PBKDF2” hash function to secure users’ important information.
Jax Liberty is completely anonymous and does not need to enter any identity information, not even email, to register and use its services.
Despite all security precautions, 2xFA and multi-signature capability are not available in Jacks Liberty wallet. Two-step verification means using a third-party software such as Google Authenticator to two-step wallet login, and multi-signature capability means that two devices must be used to log in to the software, and both devices need to be verified. Is.
Download Jacks is free for all platforms; But to make a transaction in it, you have to pay a commission like any other wallet. Jacks Liberty transaction fees are divided into three levels, and the cost of each of these levels depends on the user’s desired speed for transferring bitcoins and other digital currencies. Obviously, higher speed transfers require a higher fee. Of course, the costs of transferring digital currencies are borne by the miners, and Jacks Liberty does not benefit from these fees. Jacks Liberty earns his wages by facilitating transactions at the Shift Exchange.
In Jacks Liberty wallet, you can see your private key. This means that you can use this private key to create a paper wallet, or if you have a paper wallet, you can transfer its assets to the Jacks Liberty wallet.
By creating a paper wallet, you can store your assets cold. Cold storage is much more secure and effectively removes digital assets from hackers.
Of course, if you use a paper wallet, you should keep in mind that losing this wallet means losing all your assets. So you have to be careful enough to keep your paper wallet physically.
The Jacks wallet was launched by Disentral in 2014, and following the problems and bugs that Jacks had, the second version of this wallet, called the Jack Liberty, entered the market in 2018. Jax Liberty is currently one of the best options for storing digital assets that has been downloaded more than a million times by users.
This wallet has a good design and attractive user interface, and its use is suitable for both novice and experienced users. After the 2018 update, almost all of Jacks’ bugs have been fixed, and this wallet has become one of the safest tools in the digital currency space.