featured – Ethereum wallets are not known for their reputation. One major reason for that is the ongoing security issues of the most popular solutions. Ethereum wallet services have been actively targeted by attackers who have successfully stolen user funds in multiple hacks (such as the Parity and MyEtherWallet breaches) as well as other schemes involving phishing.
Therefore, a good solution for Ethereum fans is to choose a multi-coin wallet that offers a high-security level for their cryptocurrencies. However, such wallet services end in coin transactions and storage, nothing more.
Now, we’ve come across Jibrel Network’s wallet solution, the Jwallet that takes some extra steps to offer more to its users. So, in this article, we’ll be reviewing this relatively new Ethereum wallet. Let’s dive in
What does the Jwallet offer?
Let’s start with the basics: The wallet offers a web-based solution for desktop – along with mobile apps for iOS and Android – where users can send, receive, and store Ethereum and ERC-20 tokens.
If you can’t find the ERC-20 token you want to store in your Jwallet, you can add it manually via the service’s Bring Your Own Token (BYOT) feature. To do that, you need to provide the ERC-20 contract address, name, symbol, and decimals of the token, just like MyEtherWallet.
What’s different in Jwallet, compared to the other wallet solutions, is that it supports stablecoins (like the Jibrel USD) that are pegged to fiat currencies, such as USD, EUR, GBP, and KRW. Therefore, you can hold Jibrel’s stablecoins in your Jwallet in case you want to hedge against the bear market and/or you don’t want to store your fiat on your bank account or exchanges before (re) investing it in coins.
Before sharing our thoughts on the Jwallet, let’s discuss the main aspects that make a great cryptocurrency wallet. Firstly, an excellent crypto wallet has to be secure, so your funds can’t easily be stolen while they’re held in your wallet. Secondly, the wallet has to be accessible, providing support for multiple devices. Thirdly, it has to be fast, offering a flawless service to the users. And finally, it needs ease of use, which we don’t think we have to explain.
On their website, the team behind the Jwallet states that they are offering an “institutional-grade” wallet that is private and secure. According to the organization, all user data, including private keys generated via the service or imported from another, are stored locally. Therefore, user data remains private.
While we couldn’t verify the truth of the statement, we’ve found that users are in control of their private keys (unlike most exchange wallets). While this is good for the security of your funds, Jibrel only has a web-based wallet solution for desktop, which is a risk factor due to the increasing number of phishing attacks targeting web wallets and crypto exchanges. For more security, we’d recommend using the mobile apps, as you don’t have to navigate to an URL to access your wallet. It would be great if Jibrel could create an app for desktop wallets.
Your Jwallet is protected by a password that you have to set before creating your wallet. While we couldn’t find 2FA security settings for the web-based wallet, the mobile wallet does have FaceID.
We’ve found the Jwallet accessible as it has mobile apps for both iOS and Android, and users can use the web version to access their wallets from the desktop. As mentioned before, a desktop wallet would be a great addition to the Jwallet apps.
What we liked the most about the Jwallet is its speed and user-friendly design. The sleek user-interface provides a flawless service for everyone interested in holding ETH, ERC-20 tokens, and fiat-pegged stablecoins. A bonus point for the team for adding information about estimated transaction times, which is shown when sending outgoing coins.
- An easy-to-use wallet with a nice, sleek user-interface
- High-speed wallet
- Multi-coin storage, including ETH, ERC-20 tokens, and fiat-pegged stablecoins
- Mobile apps for iOS and Android
- Decentralized exchange integration
- The wallet lacks advanced security settings
- No desktop app
- You have to go through strict KYC & AML before you can use the Jcash
The Jwallet is an Ethereum wallet that offers multi-coin support and a fast and user-friendly service that can be accessed via the web and mobile apps. If you are willing to go through the organization’s KYC & AML requirements, you can even convert your coins to fiat-pegged stablecoins.