Armory is one of the most popular Bitcoin wallets that supports cold wallet creation and offline transactions, and the wallet is renowned for being the first major Bitcoin wallet to secure funds using the uncrackable Glacier Protocol.
Generally, completing an offline transaction requires the creation of the unsigned transaction from an unsigned wallet that is on an online wallet, then getting the transaction signed through an offline wallet and finally broadcasting the transaction through the online wallet again.
However, although Armory is certainly one of the most secure wallets around, it definitely can’t be considered beginner friendly. With broadcasting an offline transaction being a complicated multi-step process involving two computers, two Armory installations (one offline and one offline) and USB drive, the process can be bewildering for inexperienced BTC holders.
Because of this, we have taken the time to produce a thorough guide on how to send transactions with an Armory cold storage wallet.
Note: We are assuming you have already gone through our previous tutorial explaining how to set up a cold wallet with Armory. You will need a working installation of Armory on both an online computer, and an offline computer to complete this guide.
Securely Sending Bitcoin using Armory Wallet
Step 1: Load up Armory and select your offline wallet from the list of available wallets. Once this is selected, click the ‘Offline Transactions’ button on the left.
Step 2: In the new ‘Offline Action’ window, click on ‘Create New Offline Transaction’
This will open a new ‘Bitcoin Wallet Management” window.
Step 3: From the management window, you can set the metrics of your transaction. Here, enter the quantity of BTC you want to send in the ‘Amount:’ field, and enter the BTC address of the recipient in ‘Address 1:’.
Note that you can add multiple recipients to this transaction by clicking the ‘+ Recipient’ button, which will allow you to specify additional transactions to other addresses.
Once you have entered all your transaction details, click continue and then click ‘Accept’ on the next screen.
Step 4: At this stage, a new window open showing your raw transaction data. Click on ‘Save as file’ button right next to the transaction data dialog box and save the file on to a USB device.
Step 5: Load up Armory on your offline computer and import the transaction data you just saved.
Now, click on ‘Offline Transactions’ again but this time, click on the ‘Sign and/or Broadcast Transaction’ option, and wait for the ‘Offline Transaction Review’ window to appear.
Step 6: In the new transaction review window, click on ‘Load file’ and load the transaction file that you imported from your online watching-only wallet. Once loaded, click on ‘Sign’ to sign the transaction and confirm the transaction in the confirmation window that pops up.
Note: If you have encrypted your wallet with a password, you will be asked to enter this password during this step.
Step 7: Once signed, click on ‘Save file’ and save it on to your USB device to import the signed transaction file back into your online wallet for it to be broadcasted.
Step 8: Back on your online computer, fire up the online version of Armory wallet, click on ‘Offline Transactions’ again, then click ‘Sign and/or Broadcast Transactions’.
Finally, in the transaction review window, load the signed transaction file from your USB, and click ‘Broadcast’.
Once the transaction is broadcasted, all you have to do is wait for the confirmations to happen. Remember, Armory supports RBF control and if your transactions are not confirmed due to low miner fees, you can repeat the process again and replace your previous unconfirmed transaction with one with a higher fee to speed up confirmation.
This concludes our short tutorial on how to create offline transactions using the Armory wallet. For more Bitcoin cold storage solutions, see our recent guide to the best cryptocurrency hardware wallets.