Thank you all for the quick and detailed responses! So essentially, the offline wallet will never show any history or funds since it never connects to the internet. And is is not used unless I need to sign transactions to send. The watch only wallets are the ones that will show everything.

Hi all, I created a cold wallet offline and then a watch only wallet for my online machine. I have 3 questions:

1. Can I use this watch only wallet to receive funds (from exchanges, other people, etc) by creating new addresses

2. Will those new addresses and funds be automatically transferred to the cold wallet?

3. If 1 and 2 is yes, can I also create a watch only wallet on my phone to generate new addresses when I need it?
• Funds from my phone's  wallet would sync with the other watch only wallet and be transferred to the cold wallet? That way, I don't need to wait until I have access to my online machine.


And in order to spend, I would need to export transaction from watch only wallet, sign it on the cold wallet, then load it online to send?  

Just want to make sure I am getting all my steps correct. Thanks!