Why the Jaxx wallet could end up being the best hot wallet option for cryptocurrency users

First of all I have no affiliation with Jaxx and am simply stating my opinion based on personal research.

Benefits of Jaxx wallet

The Jaxx wallet first interested me because of it's ability to store a wide array of different cryptocurrency assets. The fact that the hot wallet itself has a built in exchange (Shapeshift) is revolutionary in how this wallet helps give the power back to the people.  Charlie Shrem of Bitcoin fame is involved in the Jaxx offering and he gets it.  So does Erik Voorhees (involved in Shapeshift).  The Jaxx wallet has the potential to help us live in a world where multiple cryptocurrencies can coexist and maintain the different values.  When the individual users carries around the Bank (the wallet) and the Exchange (Shapeshift) they can instantly convert into whatever asset they desire or even speculate on movements thus providing better liquidity to help ensure the different markets continue to thrive.  

Admittedly this information is not specifically new and this position is more philosophical than technical.  It does deserve some attention though.  One other aspect of the Jaxx wallet that is personally empowering is the many platforms it is available on: Android, iOS, Mac, PC, Chrome....  combined with how you can access your cryptocurrency funds with a 12 word phrase.  If you can memorize your 12 word phrase you have more personal power available to you than you may first realize.

Imagine for a moment that you somehow get in trouble with the law perhaps not even for doing anything that particularly harmful (thinking of Charlie perhaps)  or you live in an oppressive country or whatever the scenario may be in which all of your possessions are stolen or confiscated or destroyed.  If you can memorize your word phrase you could still gain access to your cryptocurrencies at a future date.  If you need some advice on how to memorize your phrase, check out the book Moonwalking With Einstein.

Drawbacks to Jaxx

As bullish and excited as I am about the Jaxx wallet, they have admittedly lost some consumer trust.  A few months ago there were several stories about hacking and lost funds.  There are also many accounts of people with lots of quirky bugs and inconsistencies.  These are important issues for the Jaxx team to resolve in order for Jaxx to truly reach it's potential.  Thankfully the Jaxx team has recently stated that they have been doing some serious backend improvements and with fingers crossed, perhaps they will have ironed out all the bugs in the updates they say are coming out in the next few weeks.  With this in mind it makes sense to be cautious with amounts stored in Jaxx until we know if they have it working like the well oiled machine that we all hope it can be.