[Guide] How to Set up and Receive BTC with Armory — The Most Secure Bitcoin Wallet

Bitcoin Armory Wallet is perhaps the most secured Bitcoin wallet built using the Glacier Protocol. Its security is widely considered to be at par with Bitcoin hardware wallets, and is well suited for long-term storage of BTC. 

Despite being built for cold-storage, Armory can also function as a daily use wallet too, bringing features including distributed multi-signature, cold storage offline wallets, and one-time paper or digital backups to the disposal of the average Bitcoin user.

Additionally, with Armory anyone can create multi-signature Lockboxes, raise funds with it and spend funds from it — which can be extremely useful for personal or institutional crowdfunding campaigns.

Out of the many advanced features Armory has, it is the fact that all data generated by the app is maintained within an eternally quarantined environment that makes it stand out among similar wallets. The integrity of this generated data is further verified through parallel hardware stacks to detect flawed data generation by pre-existing malware, making Armory practically bulletproof as a wallet.

However, despite its advanced nature, Armory has no official support channel, primarily because it is a free open-source community-developed project. Because of this, Armory is only recommended for advanced Bitcoin users, who know the basics of storing BTC and want something approaching the security of a hardware wallet. 

To help break down some of the barriers to entry for software-based cold-storage, we will take a step-by-step looking into how you can set up an Armory wallet on your Windows Desktops and receive your BTC to your Armory address.

Securely Manage your BTC with Armory

Step 1: Head over to the official Armory website and download the latest version of Armory for your Windows computer.

Once the download completes, run the file and acknowledge the Windows UAC security warning by clicking ‘Run’.

Step 2: When the setup wizard launches, click ‘Next’ to continue the installation and follow the on-screen prompts. We recommend leaving the installation path and name of the Start Menu folders as the default values.

Step 3: Once installation completes, fire up the wallet and accept the Armory Licence Agreement. After this, the wallet will begin to load.

You will then see a welcome message asking you to either create a new wallet or import an existing one.

Step 4: For the purposes of this tutorial, we will create a new wallet. To do so, click the ‘Create Your First Wallet’ button and wait for the Wallet Creation Wizard to appear.

Enter a wallet name, and wallet description (optional). Leave ‘Add Manual Entropy’ unchecked and click the ‘Next’ button.

Note: If you check the ‘Manual Entropy’ box, Armory will ask you to perform an additional step to generate the entropy used to create your wallet. This may be more secure, but is likely unnecessary in our opinion.

Step 5: In this step, you will need to set your passphrase. This is a string of at least 10 or more random letters, or 6 or more random words. The longer the passphrase, the more secure your wallet, so we recommend that you set a long and complex passphrase.

After entering your passphrase in both fields, click the ‘Next’ to proceed to the verification screen. Here, re-enter your passphrase again to confirm it, before clicking ‘Next’ again to proceed to the next screen.

 

Step 6: Now, for Armory to function, you need the Bitcoin Core application running in the background, acting as a node and staying in sync with the mainnet.

Download Bitcoin Core from the website by clicking ‘Download Bitcoin Core’ in the top left.

Once downloaded, open the executable file to begin the installation process. On the first screen, do not change the default values or installation path for Bitcoin Core, and click ‘Install’.

After Bitcoin Core has installed, open the newly installed program and let it sync, this can take some time depending on the speed of your internet connection.

Step 7: Switch over to Armory. The wallet status under the ‘Dashboard’ tab should indicate the wallet’s online status.

Similarly, you should see the green ‘Connected’ indicator in the bottom right of the Armory interface, meaning Armory is now synced up with Bitcoin Core and you are ready to begin using the wallet.

Step 8: To receive Bitcoins in your wallet, click the ‘Receive Bitcoins’ button and wait for the ‘New Receiving Address’ window to open.

Step 9: In the ‘New Receiving Address’ window, you will be able to see your receiving address at the top, this is the address used to receive BTC payments.

For ease of use, you can also generate a clickable payment link by clicking ‘Create Clickable Link’ or use the QR code on the right to deposit funds.

Note: Although you can reuse the same address multiple times, it is not recommended to do so. Clicking on the ‘Receive Bitcoins’ button on the main Armory screen will generate a new receiving address every time.

And that’s it! Now you are all set up to receive, store and transact with BTC right from your own Armory Wallet. Now that you are completely set up, why not learn how to store your BTC in cold storage using your new wallet?

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