Buy Coin, Store Responsibly
Bitcoin has become something of an anomaly in the world of finance. At this point, it has outperformed all other asset classes in the first half of 2016. So much so that even government and financial strongholds worldwide are trying to figure out how to implement and capitalize on it while some countries are simply banning it outright! Ever since Bitcoin's inception and subsequent success the crpyto-sphere has exploded with hundreds of alternate currencies, turning the financial world on its head. Most of these coins are absolute garbage. A few however, have had an unforeseen impact on the markets. Shaking things up a bit and making the place a lot more fun for casual hobbyist and die hard investors alike. Finding a secure location for each one can be a challenge.
WHERE TO STORE YOUR COIN
One of the most important decisions to make when ordering more coin is where to store them. It's an ever expanding universe that takes due diligence in sorting out, it often takes longer to find wallets than it does to decide if and when to buy in the first place. As of today there is no all-in-one storage unit capable of holding every currency in one place off the exchange. Thanks to the Kryptokit team, spearheaded by Anthony Di Iorio, CEO and founder of the Toronto based Decentral and co-founder of Ethereum, you have a great place to store the TOP 2 currencies in one neat little wallet for the following devices
- Android
- Apple iOS
- Chrome Extensions
- Windows Desktop
- Apple Desktop
- Blackberry mobile
- Linux Kernal
Jaxx wallets use a cryptography library on the JavaScript side to keep it unified across their implementations.
The team at Kryptokit says the code allows the wallets to rely on a client-side security model, with private keys hosted locally that are never sent to any other servers, reducing the risk of vulnerability and key compromise.
Trade Coins Locally Without Heading To The Market
In this June article from bitcoinmagazine.com Anthony Di Iorio announces the integration of shapeshift.io saying"Jaxx and ShapeShift together will, without a doubt, be the easiest solution for buying ether with bitcoin ( and vice versa ) and it's done right in your Jaxx wallet!" He goes on to state “The Jaxx ShapeShift integration is one of many partnerships we anticipate with companies around the world,” Di Iorio said. “We believe our single code base and the ability to deploy in minutes across all platforms and devices gives us a huge advantage towards becoming the industry’s default blockchain wallet.”
(source bitcoinmagazine.com)
Now that shapeshift.io has been integrated, there is no need for heading to an exchange to make trades, saving BTC/ETH enthusiast time and money. To me this is a huge bonus and one amazing feature. DAO tokens where added to the Jaxx wallet just before The DAO project was exploited by a serious flaw within the code and a still unknown hacker was able to drain an excess of $60 million USD worth of ether.
I myself steered relatively clear of the DAO even before the hack buying bits and pieces here and there to see what could happen only to shift them back into ether the night before the hack took place (had to pat myself on the back for that one) The Slock.it team behind the project has made strides to correct the situation and has handled the issue with mixed reviews/results. Thankfully I wasn't burned to a crisp by the fiasco. As I was only dabbling at the time. With that in mind, I'm disregarding that feature all together.
(
Other Features Include
- Single master seed backup - no matter how many coins Jaxx decides to add in the future this will be the only seed you will ever need
- Single Screen Operation - No more switching between send and receive screens or trying to find your QR code. All wallet functions operate on ONE screen
- Native camera screening
- Pair Across Devices
- Multi Currency - Easily change between Fiat and BTC / ETH
- Spendable balance display
- Generate custom amount QR code
- Bitcoin Hierarchical Deterministic
What you should look for in a wallet
- Functionality
- Display
- Ease of use
- Security
Jaxx takes care of this and more with the added trading feature. In my opinion it remains the best option on the market today. I was even able to short Ethereum without leaving the comfort of my Android wallet following the drop in price during the DAO hack. Earning me a small profit and some warm fuzzy feelings.
