Jaxx Liberty, developed by Decentral Inc., is well-known for its accessibility and user-friendliness. However, it also offers a range of advanced features that cater to the needs of experienced cryptocurrency users seeking more control and efficiency in managing their digital assets. This article explores some of the more complex functionalities of Jaxx Liberty, such as custom transaction fee settings, device linking capabilities, and its integration with ShapeShift for in-wallet exchanges.
Setting Custom Transaction Fees
Flexibility in Fee Management:
One of the significant advantages for power users of Jaxx Liberty is the ability to set custom transaction fees. This feature is particularly valuable during times of network congestion when default fees might lead to delayed transactions.
- How it Works: Jaxx Liberty allows users to manually adjust the fee higher to expedite transaction confirmation times or lower if they are not in a hurry and wish to save on costs. This is done through the wallet’s settings, where users can select the speed of the transaction which correlates with the fee’s size.
- Benefits: By enabling custom fee settings, Jaxx Liberty gives users the flexibility to balance cost with transaction speed based on their immediate needs, a critical feature for traders and active users who require timely transactions.
Linking Multiple Devices
Seamless Experience Across Platforms:
Jaxx Liberty supports a multi-platform experience, allowing users to link their wallet across several devices including smartphones, tablets, and desktops. This feature ensures that users have access to their funds and transaction capabilities no matter where they are or what device they are using.
- Setup: To link multiple devices, users must first ensure they have Jaxx Liberty installed on all devices they wish to sync. They then use the same 12-word backup phrase they initially created their wallet with on one device to restore the wallet on all other devices.
- Security Implications: While linking multiple devices offers convenience, it also requires careful security management, such as ensuring that all devices are secure and that the 12-word backup phrase is kept private and safe.
Integration with ShapeShift for In-Wallet Exchanges
Direct Cryptocurrency Exchanges:
The integration of ShapeShift with Jaxx Liberty allows users to directly exchange one cryptocurrency for another within the wallet, bypassing the need to use external exchanges. This feature supports a broad range of cryptocurrencies and provides flexibility in managing portfolio diversification.
- How it Works: Within the Jaxx Liberty interface, users can select the ‘Exchange’ tab, choose the currencies they wish to swap, specify the amount, and then execute the trade. The exchanged amount reflects directly in the user’s wallet once the transaction is confirmed.
- Advantages: This integration not only simplifies the trading process but also enhances security by reducing the risk associated with transferring funds to and from external exchanges. It also saves on transaction fees that are typically higher on standard exchanges.
Additional Advanced Features
Enhanced Customization: Jaxx Liberty allows users to customize their dashboard and wallet interface, which can include setting up and prioritizing favorite coins, adjusting security settings, and customizing notification preferences.
Blockchain Access: Experienced users can benefit from direct blockchain access via Jaxx Liberty’s built-in block explorer, which allows for immediate and transparent transaction verification directly on the respective blockchain.
Conclusion
Jaxx Liberty’s advanced features provide experienced users with the tools necessary to manage their cryptocurrencies efficiently and securely. From setting custom transaction fees and linking multiple devices to integrating seamless in-wallet exchanges through ShapeShift, Jaxx Liberty caters to the nuanced needs of advanced users. These features underscore Jaxx Liberty’s commitment to combining usability with powerful, flexible cryptocurrency management tools.
