If you just received or moved the coins, then a tx fee is necessary, otherwise the network will refuse to propagate the transaction. I think the age of the coin multiplied by the size should be 1 day or something like that.
Topic: armory secure for cold storage? (Read 578 times)
Hi
i m testing the wallet now:
for sending it s asking me a transaction fee even while i ll put it at zero in the settings
anyway to solve this?
i m testing the wallet now:
for sending it s asking me a transaction fee even while i ll put it at zero in the settings
anyway to solve this?
Short answer:
Armory gives you excellent protection against malware on your computer, if you use an offline computer for that purpose only. It is also a highly convenient way to have a secure wallet and still be able to access the bitcoins.
Armory gives you excellent protection against accidentally losing your bitcoins due to forgotten passwords, hardware failure, fire in the house, etc, but only if you use the paper backup option. In particular, I recommend the N-of-M paper backup. For example a 2-of-3, where you print three paper backups and place them in three different, reasonably secure places. Any two of them are sufficient to recover the funds, but one alone cannot do it, so a thief getting hold of one of them will not help him.
Offline wallet setup:
* A computer with significant disk space, connected to the internet, running Armory. This computer only has a watch-only version of the wallet. It can generate unsigned transactions, but cannot sign them for the bitcoin network.
* An offline computer, even an old or tiny one will do, with no internet access. It is running Armory in offline mode (needs very few resources). This computer holds the real wallet. It cannot generate transactions because it does not have access to the blockchain, so it does not know which bitcoins you own. But it can sign transactions generated by the online computer.
Long answer:
https://bitcoinarmory.com/about/using-our-wallet/
Armory gives you excellent protection against malware on your computer, if you use an offline computer for that purpose only. It is also a highly convenient way to have a secure wallet and still be able to access the bitcoins.
Armory gives you excellent protection against accidentally losing your bitcoins due to forgotten passwords, hardware failure, fire in the house, etc, but only if you use the paper backup option. In particular, I recommend the N-of-M paper backup. For example a 2-of-3, where you print three paper backups and place them in three different, reasonably secure places. Any two of them are sufficient to recover the funds, but one alone cannot do it, so a thief getting hold of one of them will not help him.
Offline wallet setup:
* A computer with significant disk space, connected to the internet, running Armory. This computer only has a watch-only version of the wallet. It can generate unsigned transactions, but cannot sign them for the bitcoin network.
* An offline computer, even an old or tiny one will do, with no internet access. It is running Armory in offline mode (needs very few resources). This computer holds the real wallet. It cannot generate transactions because it does not have access to the blockchain, so it does not know which bitcoins you own. But it can sign transactions generated by the online computer.
Long answer:
https://bitcoinarmory.com/about/using-our-wallet/
hi guys,
after hearing all these exchanges being hacked,i would like to have the cons and pros of armory as i want to take my wallet offline
what would i need to make it and how secure is it?
THANKS
after hearing all these exchanges being hacked,i would like to have the cons and pros of armory as i want to take my wallet offline
what would i need to make it and how secure is it?
THANKS
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