- backing up your wallet: The balance of your bitcoins may not be in the address you see, and the entire contents of one address may be emptied by just one small transfer.
Most paper wallets if have seen only store both the public and private keys. How does Armory do this?
A paper wallet is fine for creating one address and sending bitcoins there for long-term storage. However, copying a single address from a
working wallet is not effective; if you are
using the wallet, then your balance may quickly move to other addresses; Bitcoin creates 100 other addresses for future use by default, due to
change.Armory allows you to create a deterministic wallet. This is a wallet where all the other addresses that will ever exist are based on an initial secret seed, so it is sufficient to create a backup of only this seed.
Thanks, +1
Show Posts
