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Armory: the pioneering Bitcoin software wallet that excels in both multi-signature and cold storage functionality. Known for its advanced security features, Armory is highly regarded within the crypto community. Although Armory Technologies Incorporated (ATI) has ceased development, the software is now maintained by goatpig and the broader Bitcoin community. It’s important to note that using Armory requires the prior download of Bitcoin Core and the Bitcoin blockchain, taking up a minimum of 210 GB of storage space and several days to complete. Armory is used in conjunction with Bitcoin Core to enhance security through more sophisticated encryption methods.
Summary
- Armory in a Nutshell
- Armory’s User Interface
- Security Features of Armory
- Pros and Cons of Armory
- Final Thoughts on Armory
Armory in a Nutshell
Considered one of the most secure Bitcoin wallets on the market, Armory combines advanced security features with a user-friendly interface. It has earned a strong reputation among both casual and business users who require a high level of security. Armory is compatible with Microsoft Windows, Apple Mac OSX, Linux Ubuntu, and Raspberry Pi. One of its notable features is the ability to generate multiple addresses, enabling easy separation of personal and business bitcoins, making it an HD wallet (hierarchical deterministic wallet). Furthermore, Armory allows users to protect their bitcoin sending function with a password for added security. The installation and use of Armory are free, but there may be transaction fees for sending bitcoins based on the current state of the network.
Armory’s User Interface
After installing Armory, you are ready to receive bitcoins. Simply share your bitcoin address with potential senders (clients, family, friends, etc.) to receive bitcoins and access your balance through the wallet. Sending and receiving bitcoins is straightforward: to view your bitcoin public address and share it, click on “Receive Bitcoin” and select the wallet where you want to receive the bitcoins. You can copy the address and send it via email or generate a QR code to share it via SMS. To send funds, click “Send Bitcoin” and choose the wallet you wish to debit. Armory also supports offline transactions, allowing you to maintain a cold storage wallet. By clicking on “Offline Transactions” and then “Create New Offline Transactions,” you can send bitcoins without being online. You can also select “Send bitcoins” and switch to read-only mode. The subsequent steps will be guided by the assistant.
Security Features of Armory
Few wallets can match the level of security provided by Armory. It offers multi-signature support with decentralized lockboxes, granting users full control over the creation and storage of their private keys. Armory enables cold storage, safeguarding your private keys from online theft and requiring physical access to your offline system for any potential hacker to appropriate your bitcoin funds. However, even with the theft of your cold wallet’s private key, intruding Armory’s sophisticated encryption system to access your funds would take centuries, according to ATI.
Pros and Cons of Armory
The Pros of Armory
- An ultra-secure wallet (hierarchical deterministic (HD), multi-signature, cold storage support)
- Excellent reputation within the community
- Open-source wallet
The Cons of Armory
- No two-factor authentication
- No mobile version
- Requires prior installation of Bitcoin Core and the Bitcoin blockchain (lengthy, resource-intensive process)
- Can be challenging for beginners to navigate
Final Thoughts on Armory
Undoubtedly, Armory is an excellent Bitcoin wallet choice. However, for beginners, we may recommend Electrum, which offers a more user-friendly experience. If you require multi-currency support, including Ether, Exodus would be a more suitable option. Armory is better suited for experienced users and those who need to store significant amounts of bitcoins.
For maximum security, we recommend using Armory with a hardware wallet. Take advantage of the opportunity to pre-order the latest Ledger Nano X or benefit from the reduced price of the Ledger Nano S (now priced at 59 euros instead of 99 euros).
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