With the Armory bitcoin wallet, you can set up a bitcoin offline wallet. I am going to explain simple steps into setting up an Armory offline bitcoin wallet in this tutorial. You only need to follow these steps to have a successful offline Bitcoin wallet. When first thinking of Bitcoin you may not of realized you need a wallet but you do and follow this Armory wallet tutorial and you will have just that a offline Bitcoin wallet that can help you hold the Bitcoins that you own.
Step #1: Download and install the Armory wallet program on a fresh version of Linux. You can run the program fro Windows, but it is suggested that you use Linux to be able to run this tutorial. Not all people are comfortable with Linux, but you can get comfortable with Linux by using it more and more so try it out. You can download a VM (virtual machine) and have Linux run on a Windows computer so if you don’t have a computer with Linux already setup just install a VM and you will be on your way to following this tutorial and having an offline Bitcoin Armory wallet.
Step #2: Go to create a new wallet then you will want to put a name on your wallet and decide if you put an encryption which I suggest doing. Then there will be information telling you how long it will take for the computer to make one of these private keys so your computer can become its own Bitcoin wallet that is secure and encrypted.
Step #3: At this point in the Armory program you will need to set a “Pass Phrase” or password as it were. To do this, you must use 5 to 8 random numbers of letters. You are going to want to keep this password in a safe place so you do not lose access to the Bitcoin wallet that is on your computer. Don’t forget don’t make it too simple so people can just guess it and have access to the Bitcoins that you own.
Step #4: At this point when you have setup your Armory wallet password it will have you enter it twice and then put it in one more time to continue in the process of creating the offline Bitcoin wallet. After you have done this you will get access to the QR code for the Bitcoin wallet as well as the text information for the private key you just created and the chain information for the Bitcoin private wallet. Write all of this down print it down but it in a safe or something because without this information you could very well lose access to the Bitcoins that you own which would mean that you are going to be losing money.
Congratulations in 4 simple steps you have created an offline bitcoin wallet. Now you need to know how to use this offline Bitcoin wallet and do note that you can always put the Armory Bitcoin wallet online so that you can see the balance and send and transfer funds. I am going to go to this right now on how to send and receive funds so that you can get the funds you want when you want them.
Don’t let people trick you into thinking that setting up a Bitcoin wallet is hard or undoable because this is simply not true and they just don’t want you to have Bitcoins because they just want to keep them all for themselves maybe. No matter what controlling the Bitcoin wallet is simple and it should be done on a Linux machine for the Armory Bitcoin wallet software.
To send Bitcoins from an Armory wallet you need simply go to the send button input an address and send. You can also have Bitcoins deposited into the Armory Bitcoin wallet by clicking the get Bitcoins button and copying and pasting the code from there and showing people to send you money there and it will go to the Bitcoin wallet. One thing Armory offline can’t do is keep track of the balance that you have so simply create a read-only copy for online use then you will be able to check how much Bitcoin the wallet has there is a button for that as well and it is very simply simply click and save the file and there you go you will have a perfectly working Bitcoin wallet.
Remember the Armory wallet setup can just as easily be done on an online machine. Follow these steps to get an online machine working with Linux. As is written above you do not need to get a new computer with Linux just simply install a Virtual Machine on your computer and you will be set to have this working in no time. Don’t stop working on it until you have gotten done and if you have any questions Google is usually a good source of answers or other communities like Bitcointalk.org.
When setting up a Bitcoin wallet with Armory it is important to realize there is not a way to recover the password so write it down so you will have a backup of the password. Put it in a safe because who knows you could have $200 or $2,000 or even $20,000 in Bitcoin and it is surely that you don’t want to lose even $50 in Bitcoin so no one wants to lose $20,000 in Bitcoin just because they have forgotten the password that they put on the Armory Bitcoin wallet.
One last tip is to not share the password with anyone and don’t download random files from the internet that could contain a keylogger that will steal the password that you have as this could cause you to lose all of the Bitcoins that you have too. These are simple tips but important ones when talking about Bitcoin and increasing the amount of money you put into Bitcoin you should increase the amount of security you have the money. Keep all of these tips in mind and this Armory tutorial bookmarked so you can show friends and get an online wallet setup without a problem.