From Teeka Tiwari, editor, The Palm Beach Letter: Anthony Di Iorio has a simple mission: Make using cryptocurrencies as simple as using a web browser.
Di Iorio isn’t widely known outside the cryptocurrency space. But he’s quietly made tens of millions of dollars investing in blockchain technologies. He was one of just two investors who bootstrapped a new digital currency some are calling “the next Bitcoin” that’s now worth over $1 billion.
His latest project is a multi-cryptocurrency wallet called JAXX.
A “digital wallet” is an encrypted electronic device used to store cryptocurrencies.
The problem with today’s cryptocurrency wallets is that you need a separate one for each cryptocurrency you own. It would be like needing to own separate wallets to carry pounds, euros, and dollars.
Needing separate digital wallets for each of your cryptocurrencies makes them inconvenient to use.
Di Iorio, who is the CEO and founder of JAXX, is solving this problem. His wallet currently supports seven cryptocurrencies… with more in the works.
I met Di Iorio on a recent visit to Toronto. While having drinks at a local pub, he told me, “I want [JAXX] to be the default interface of the blockchain.” His ultimate plan is for JAXX to support all cryptocurrencies.
And he’s already ahead of the competition…
JAXX has over 50,000 users. That makes it the global leader in multi-currency digital wallets.
Here’s why it’s so popular… Unlike other digital wallets on central exchanges, JAXX doesn’t store your cryptocurrencies or passwords on its computers.
Di Iorio’s firm can’t access your coins. It has no idea what your passwords are. It’s all encrypted and held on either your own personal desktop or mobile device. This is a much more secure way to store your coins.
There’s a simple reason for that…
It’s more efficient (and lucrative) for hackers to target large central digital exchanges that hold thousands of cryptocurrency accounts worth millions of dollars… than it is for them to break into millions of individually encrypted computers, each with a few thousand in their accounts.
(Think of it this way… Security concerns being equal, it’s more efficient for a criminal to rob one giant bank than thousands of individual homes.)
The ability to store your passwords on your personal device is a great feature of JAXX. It gives you control over your own funds as well as anonymity. You don’t have to rely on someone else’s security measures.
But there’s another feature JAXX has that I love—the ability to recover your money.
Let’s say that your smartphone is stolen or all your hard drives get fried in an electrical storm. With most digital wallets today, you’d lose access to your coins (unless you kept a hard copy of your private key).
But JAXX gives each new account holder a 12-word phrase they can use to restore their wallets if their devices are lost, stolen, or damaged.
I keep copies of my backup phrase in a safe and a safety deposit box. This ensures that I can always access my coins on another device… no matter what happens to my hardware.
JAXX has my highest recommendation for safety and ease of use. It’s the best digital wallet I’ve found, and if you own any digital currencies, I urge you to check it out.
JAXX is available for the iPhone and Android platforms. You can check out the website here.
How to profit here
There’s no way to currently buy into Di Iorio’s new technology… but there is a way to indirectly profit from his work. As Di Iorio and countless others like him work to bring cryptocurrencies and blockchain technology to the mainstream, we’ll see certain digital currencies soar in price.
One in particular is emerging as the most useful digital currency in the world. Some people are calling it “the next bitcoin.” In fact, I think it could become more valuable than bitcoin—which is worth over $600 per coin today.
Currently, it’s trading at just under $12 with potential to go much, much higher. There’s still time to get in on the ground floor, but you must act soon before new technologies like JAXX start boosting their prices…