Armory Wallet Review
Armory is a PC only open-source cryptocurrency wallet that stores Bitcoin. It was known for its very high end and extensive security options for the wallets. Due to its open-source nature and more complex interface , it is less likely preferred by basic users.
- Open Sourced wallet
- HD and multi-signature wallet , suitable for business
- Supports “Cold” wallet , an offline wallet
- Higher security options , not so beginner friendly
- Only supports PC OS, no mobile devices support
- No two-factor authentication
Is Armory wallet free-to-use ?
Armory wallet is an open-source and fully free to use. However payment to Bitcoin blockchain network will still be required as similar to other online wallets. The minimum transaction fee will be charged depending on the size of transaction, in short , the bigger the more fee required.
Key functionality and features
Other than being a standard online wallet for Bitcoin, Armoury is known for its support on “Glacial Protocol”, which is a “Cold” Storage wallet. The cold wallet enables users to manage their coins without being online, which greatly increases its security. Being an Open-source allows developers and or higher end users to adjust, adapt , or use the algorithm of Armoury to support their own system or wallets. On the aspect of security, it provides the few common security measures which is HD wallet and multi-signature support.
How does transaction works on Armoury?
Excluding open-source and indepth security options, transaction on Armoury is as easy as other wallets. To send or receive Bitcoins , one must first know what is the wallet address. Just in case , a Bitcoin wallet address is required for a Bitcoin transaction, otherwise the transaction will not complete or lost. A minimum charge will be prompted per transaction depending on the size of transaction.
How does the wallet work?
To get started, you would need to download the suitable version for your PC depending on operating system. Currently Armoury supports Windows , Mac OS, Linux Ubuntu and Raspberry Pi as well Once the setup is done, you will be prompted for setting up for first wallet with the steps below
- You can set a name for the wallet and the advance settings allows you to increase your security and higher adjustment will make your wallet harder to crack. However you could leave it by default if you have no idea of it.
- Then you will required to create your own passphrase as backup incase of account lost. The passphrase will need at least 10 combination of number and text.
- Once again you will be prompted for another confirmation for passphrase, it is advisable to write it down physically as well.
- After that , Armoury will prompt for backup options for your private key with the options of Printing it , encrypted backup or exporting it as a file. Exporting it will saving it as a text file in your device.
- Your wallet is ready to use but will be set as offline until you activates it with a bitcoin network. You will require Bitcoin Core to enable the online features. Bitcoin core can be found here. Once the Bitcoin core is installed , restart Armoury and it should be automatically connected.
Is Armoury wallet secure?
Armoury wallet is one of the most secure and well known online or offline wallet service provider and they do not hold any passphrase or information of users. User’s wallet can be switched to a “cold” storage by disconnecting it from the network making it impossible for a cyber attack namely the “Glacial Protocol“. With the passphrase created by users themselves and extra security options , it is considerably hard to be accessed without direct access of the device. However, they would still have to deal with the encrypted wallet to actually exploit the wallet.