Armory Bitcoin Wallet Review

Armory is an open-source bitcoin wallet with multi-signature and cold storage supporting features. Armory Bitcoin wallet lets you set up multiple wallet addresses that enable you to separate business holdings from the personal bitcoin account. Dive in to know more about the wallet.

Armory Bitcoin Wallet Review

QUICK NAVIGATION :

• What is Armory?
• How Does Armory Wallet Work?
• Strength & Weakness of Armory Wallet
• Recent Updates

What is Armory?

Armory is one of the most secure bitcoin wallets available. The wallet offers you the robust security facets with a user-friendly interface. It helps individuals and businesses to protect and tackle the bitcoin tokens.

The Armory wallet offers cold storage that allows you to store the private keys offline.

It supports Microsoft Windows, Linux Ubuntu, Apple Mac OSX, and Raspberry Pi.

Armory Technologies Inc. builds enterprise-grade Bitcoin security software solutions and Armory Enterprise Security LLC that provides Bitcoin security consulting services to institutions for deploying a Bitcoin security plan are behind the Armory Bitcoin wallet.

Why Armory Bitcoin Wallet is a Trusted Wallet?

Armory bitcoin wallet claims to be the trusted full featured wallet available in the market. It creates and stores Bitcoin private keys. So, there’s no need to rely on the Armory team.

The team is highly experienced and has integrated with VeriSign; to build trust and design an Identity Verification Specification.

The Armory Wallet to Store Bitcoin!

Launched in 2015, the armory wallet provides a new standard to financial security. You can now manage the Bitcoins safely and efficiently. This wallet comes with several features such as:

• Offline wallets to increase security
• Many backup and Encryption (multiple signature support)
• Secure cold-storage on offline PCs

Armory is sophisticated wallet management app and Python-based code platform. Some additional Armory Wallet aspects are:

• Licensed under AGPL v3
• Supports offline- cold storage wallets
• Toggle between Standard, Advanced, and Expert modes (different customization choices)
• Decentralized multi-signature lockboxes

Some Additional Things To Know- Armory Bitcoin Wallet!

Armory wallet Fees:

The armory bitcoin wallet is free to install and use. Sending bitcoin via blockchain network is subject to a transaction fee that is set by the network itself. You cannot send less than 0.01 BTC.

Cryptocurrencies Supported:

Armory wallet only supports bitcoin to trade, send and receive funds.

Where to Download the wallet:

You can download the latest version of the Armory wallet directly from the company’s official website.

How Does Armory Wallet Work?

Download armory, install it on the offline system and use USB drives. After installing, create a new wallet. Remember to copy or print a paper backup.

Create a “watching only wallet” to load on online system via USB stick. The online version can generate same address as offline version. Similarly you can create new wallets with or without encryption.

How to Add Currency to Armory Bitcoin Wallet?

After bitcoin wallet set up, you can receive the coins directly. You can share your bitcoin address with anyone having a bitcoin wallet. Now, you can proceed with the exchange and trade process.

How to Make/Receive Payments with Armory Wallet?

Receiving Bitcoin:

1. To receive payments, you should have a bitcoin wallet. To send payments, you need to have bitcoin in the wallets. The “Balance” tab shows “how much bitcoin is available”. Now let’s start with the process:
2. To receive bitcoin, click on “Receive Bitcoin” and select the wallet you want to use for the deposit. The chosen wallet generates an address to receive the coins.
3. Share this address with the sender to receive bitcoin. You can also copy the address to a clipboard and then send it via email. Else create the “QR code” and send via text.

Sending Bitcoin:

1. To send bitcoin, click on “Send Bitcoin” and select the wallet you want to send from. Paste the address into the recipient box and enter the amount. You can now send the funds.
2. You also have option to send bitcoin from your offline wallet. Click on “Offline Transactions,” then click on “Create New Offline Transactions.”
3. Select “Send Bitcoins” and the “watching-only/offline-only” feature. The instructions then take you through all the steps. Follow the steps and send funds offline.

The Strength of Armory Wallet

Armory is an open-source code wallet. Armory wallet offers cold storage support. This allows the management of bitcoin even without the internet. Popularity: top-end security facets like hierarchical deterministic and multi-signature support.

The Weakness of Armory Wallet

Armory neither offers the two-factor authentication nor mobile support. Its high level of security makes it complex for beginners.

Bonus!

Armory is committed to truly provide security. It offers 5-minute video on how to verify your download. Downloading Armory wallet for the first time, this video will guide you throughout!

Recent Updates:

• October 30, 2014 – New Website Design
• July 29, 2014 – Armory 0.92 released, including new features: Multi-Signature Lockboxes
• July 1, 2014 – Armory 0.92 pre-release (0.91.99.8-beta) now available

Armory Wallet Review

Armory’s key focus is building the advanced and secure Bitcoin wallet. Using which all can control the generation, storage of Bitcoin private keys. However, you must ensure full liability to protect your bitcoins.

Hope you’ve got some essential notes from this review to move ahead! Have you used any crypto wallets before? If yes, share your experience with us!

Until that time, continue to learn and share the crypto updates with Coinpedia.

Let’s connect on Twitter and Telegram.

FAQs