There is a wide range of crypto and Bitcoin wallets on the market, and every investor faces the necessity of choosing their perfect wallet type — for instance, whether they should pick a cold wallet or hot wallet. Then, when they finally have decided what wallet type they need, they begin another round of choosing the best product offered today.
In our review, we will determine the main cold storage features of the Armory wallet that can boast being one of the first Bitcoin wallets based on the offline system that does not require an internet connection to use and complete offline transactions.
Armory Technologies released Armory wallet in 2012. After a while, another developer and lead maintainer has started to manage the wallet and provide cold storage support, named goatpig. The first release of Bitcoin happened in 2009, and wallets for Bitcoins began to spread widely in 2011. Armory Technologies, Inc also started to work in 2011, and the business became rather successful.
Thus, Armory wallet by Armory Technologies company was a Bitcoin wallet offering cold storage that started its path rather early compared to other wallets used to keep Bitcoins. In 2016, Alan Reiner, who was the company`s founder, left his position. As for today, goatpig keeps being a lead maintainer of the Armory wallet system and the Armory project as a whole.
Wallet Armory: Main Features
- Armory Wallet is a great open-source wallet to keep your Bitcoins safe and conduct secure transactions with your cryptocurrency. Using cold storage wallet, in general, is a brilliant way to protect your funds from fraud, and Armory also has various advanced security features that may help to ensure that your money is well-protected. There is only one way to lose your money if you use cold storage wallets: to lose your offline computer or any other device that you use to store your assets.
- Multi-signature support and convenient interface are what many users enjoy in the wallet Armory. Its availability is also notable: you can use the wallet on Windows, iOS, and Linux. Any Armory wallet holder can generate multiple wallet addresses, a wonderful feature for those who have personal money and business funds in Bitcoin.
- Besides, users of this Bitcoin wallet can enjoy decentralized lockboxes with which their digital assets and Bitcoin private keys do not require keeping on third-party platforms. Investors always have direct access to their private key data and store their funds at the highest security level with this Bitcoin wallet.
- Bitcoin private keys, virtual money, and every Bitcoin address are additionally secure with a password that can be a whole phrase. Every investor who opts for wallet Armory can set a sentence to access their virtual assets. Even though there is a password system, Armory does not support two-factor authentication, which is a major disadvantage for many clients.
- Apart from private keys protection and multi-signature support, among other top-end security features, the reliable Glacier protocol is integrated into the Armory system, giving additional protection and allowing users to have full control of their assets. It is considered one of the most secure protocols used in cold wallets for a Bitcoin network and other cryptocurrencies.
- Using an Armory wallet is possible if a client has an additional working station with an operating memory of at least 512 megabytes and USB storage. Another important thing to note: the internet connection should be weak. This allows users to ensure that their funds are secure from hackers and online scams. So, to provide the best security level and avoid the access of unpleasant third parties to their funds and transactions with Bitcoins, users had better have an offline computer with no connection to the web.
- Speaking of a transaction fee that a user may need to cover to ensure operations, with Armory Bitcoin wallet, it is volatile. Some transactions are free, and others require paying around 1 cent (which is also 0.0001 in Bitcoins). Paying the fees helps to avoid spam and scam when using the Armory account and system.
- Creating a wallet is easy, too. You have to visit the Armory site, define your device operating system (remember that the network discourages sending a file to the incorrect system), simply click the download button, get the needed file, and install it as written in the guidance. You will need to invent a strong password for your account. Then, you will obtain a QR code, chain code, and root key. You are now all set to use your multi-signature Armory computer wallet and keep all your assets safe!
Pros and Cons
Besides the basic features of the open-source Armory cold storage system, our review is here to clearly explain the advantages and disadvantages for every user. They are an irreplaceable feature of every cold storage wallet, whether it is a new wallet or a network existing on the market for quite a while.
- An outstanding security system that lets you be calm about your Bitcoin assets and private keys
- Possibilities of offline mode usage
- Open-source network
- Supports multi-signature feature
- Free or cheap transactions
- Both digital (on USB drive) and paper backup is available for users.
However, there are still some cons that we have to mention, so using Armory wallet does not become a surprise for you.
- A lack of mobile support
- No two-factor authorization
- The open-source wallet might be a bit too hard to deal with if you are a newbie.
While Armory wallet can boast being a safe option for users and give all your funds security to all your funds, there are more sophisticated cold wallet and Bitcoin storage systems than Armory that can ensure even more security to your Bitcoins.
To Sum Up
While there are many alternatives to Armory today that you can easily get and use, we can recommend the Armory Bitcoin wallet overall. Especially it is advised if you stick to Bitcoins and do not plan to acquire any other cryptocurrencies in the near future.
Armory is well-maintained by a group of professional developers, offers advanced security features, and provides the ability to maximize the possible wallet functionality, which can be essential for experienced investors and virtual currency owners.
Armory offers a wide range of items and options tied to backups and encryption. If you use a secure storage system on devices in offline mode, it ensures that you can operate your virtual assets easily without being scared that someone hacks your systems and steal anything.
Is Armory Wallet safe?
Yes, Armory wallet on your offline computer provides a high level of safety to your account. You may use it to keep your Bitcoin funds and lessen the risk of stealing them, thanks to various technologies used in development (multi-signature support, open-source code, additional password, and so on). It will keep you safe at any point, whether you are completing new offline transactions or storing a bunch of Bitcoin coins. Armory is considered a secure Bitcoin wallet application for investors.
However, in general, Bitcoin purchasing, like any other cryptocurrency coins buying, is not that safe. Even though the past performance of some currencies can be impressive, you never can predict what will happen with the coins in the future. The digital currencies market is extremely volatile and hard to control, and every user must be aware of it when completing this or that transaction and finishing payments.
You should always remember that if someone digitally or physically stole your money, highly likely, you cannot get them back to your crypto or Bitcoin wallet. So, we strictly recommend that you store your coins in a secure place when you receive Bitcoin, and Armory can be one of them despite its disadvantages described above. Using an offline computer can also be more sensible than keeping everything on the internet, regardless of how difficult your password is to guess.
Does Armory require Bitcoin core?
Yes, it does. When using Armory Bitcoin wallet, you also have to download the Bitcoin core to start working properly. If you are not satisfied with this requirement, we recommend you consider other wallets to use instead of Armory.
There are many other options you can choose from that do not require using this core. The only thing we should mention is that before selecting any wallet that you consider appropriate, you had better read all the reviews and comments you can find to ensure that this option suits you.
What is the best crypto wallet?
As we always say, every customer has their own preferences and needs, and we do not have the right to decide which crypto storage is the best for everyone. However, we can still recommend one or two apart from Armory. We have to note again that Armory offers only Bitcoin storage, while other cold storage options available on the market can store various digital currencies at the same time.
We would advise checking eToro and Exodus wallets, for example. They are rather easy to use, let you keep different coins (not only Bitcoins as Armory offers), have a decent security level, and other outstanding features. You do not necessarily have to stick with Armory because there are many other options available today. Still, you are the only person who can compare different products and make a final decision regarding what is best for you.
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