JAXX WALLET

There is this dude, Teeka Tiwari at Palm Beach Confidential, an investment advisor, who has gotten all excited about cryptos. He has really tried to push people to just invest in this new thing, which is great.

But, he gets lots of feedback about his recommendations, mainly the Jaxx Wallet. I will post here his response to peoples concern about this way to store coins -

"Probably the biggest question we’ve been getting is that there have been some reports in the press that Jaxx Wallet got hacked and users were robbed of $400,000 worth of digital currency. So we’ve received many, many emails and phone calls about this.
So I have a personal relationship with the CEO of Decentral, which is the company that created the Jaxx Wallet, and that man’s name is Anthony Di Iorio. He is one of the founders of Ethereum. He was actually the guy that provided the funding to bootstrap Ethereum.
So I called Anthony up in Toronto, and he and I chatted, and we talked about what’s actually going on. So the issue here is not a vulnerability within the Jaxx code; the issue here is really a vulnerability in the way that people are managing their devices.
So Jaxx is being accused of having security vulnerabilities, but it would be the equivalent of someone hacking your computer, going into your area where you have your passwords, finding the password to your bank account, and then pulling money out of your bank account. Is that the fault of the bank or is that the fault of the person who didn’t secure their computer properly, right?
So the key here is that you must secure your devices. If you have Jaxx on a desktop, you got to make sure that you’re secure. Make sure that you use a really reputable antivirus program. Make sure you use a really reputable sweeper to sweep for malware to make sure you don’t have any key loggers or anything like that. So it doesn’t matter whether you have Jaxx on your computer or you have Wells Fargo on your computer. If somebody gets access to your computer, they can get access to your emails, they can get access to your passwords, they can get access to your money.
The same is true with your phone. You know if you are using the Jaxx Wallet on your phone, okay, you’ve got to make sure that your phone is password-protected. You should encrypt your phone. You should—if you have the ability to have a thumbprint—you should make sure that you have that thumbprint turned on. In the Jaxx Wallet itself, they have an area where you can punch in a code before anybody can access the wallet or before any money can be sent from the wallet. Make sure that you take care of that.
The bottom line is if you have a Jaxx Wallet on your phone and you don’t have a code on it and you lose it, it’s the same as if you’re walking down the street with thousands of dollars in your wallet and your wallet falls out of your pocket. It’s the same exact thing."

Of course, he is right in theory. BUT, the problem that people have with this wallet is that the 4-digit PIN is very hackable and Jaxx will not do anything about this, instead blaming it on the weakest link in this chain, the noobie user. So, here's a guy who is undoubtedly aligned somehow with the developer who is choosing to ignore the problem. So, like everything else in life, BE CAREFUL!