Armory and Coinbase

[mistersheep]

Hi guys,

OK, I am just getting started. From my research I have decided to go with Coinbase as my exchange and Armory as my wallet. However, I can't seem to find the glue that ties these two things together. What is important to me are the paper backups and offline computer.

Right now, I am signed up (and verified) with Coinbase, but that is the only thing I have done so far. Armory looks great - I just can't see how it works with Coinbase.

If I try to find out about how to use a wallet on Coinbase, it is as if their own (online) wallets are the only thing that exists. If I try to find out about exchanges on the Armory site, nothing.

Can anyone suggest where I should be looking to see how these two should work together? Thanks.

[Carlton Banks]

As long as Coinbase has "Send" then that's your solution. I don't think they've made their accounts that restrictive yet  .

Setup Armory, get an address from an Armory wallet, Send from Coinbase to Armory address.

[mistersheep]

"Setup Armory, get an address from an Armory wallet, Send from Coinbase to Armory address."  

I know it seems obvious to you guys, but the above is all I was looking for - and I had not seen it anywhere else, on either site... thanks.

[Carlton Banks]

"Setup Armory, get an address from an Armory wallet, Send from Coinbase to Armory address."  

I know it seems obvious to you guys, but the above is all I was looking for - and I had not seen it anywhere else, on either site... thanks.

When I say "Setup Amory" I also mean: set up your offline wallets and paper backups before sending from Coinbase. Just wanted to give a straightforward outline to you first off.

[mistersheep]

Yep, I got that. I almost have my offline wallet set up, had to switch from Wheezy to Ubuntu at the last minute. Now:

One more question: this not the original problem, but I know the answer should be easy -

Can I create my original offline wallets from bitaddress.org keys?

In other words, could I just start out with my printed keys and then  "restore wallet from backup?"

Thanks guys.

[Carlton Banks]

Yep, I got that. I almost have my offline wallet set up, had to switch from Wheezy to Ubuntu at the last minute. Now:

One more question: this not the original problem, but I know the answer should be easy -

Can I create my original offline wallets from bitaddress.org keys?

In other words, could I just start out with my printed keys and then  "restore wallet from backup?"

Thanks guys.

Armory wallet format is likely not supported by bitaddress.org. Also, you can achieve the same effect by just... creating an Armory wallet with the Armory software on your offline Ubuntu machine. And I hope you're using 14.04! Others had problems with 12.04.

[CircusPeanut]

Here a few top tips.

Secure your bitcoins with a private root key that was generated on your offline computer, and has NEVER existed anywhere else. Importing private keys to Armory is fine to do, but don't try to protect your savings with an imported key.

Backup your private root key with at least 2-of-3 fragmented backup, test your fragments, and distribute your fragments to people you trust and/or secure locations. Some of the most common risks for losing bitcoins are mitigated with a 2 of 3 fragmented backup.

#1 top tip, before you put your savings into an Armory wallet. Send a $1 to it, and bounce that dollar around. Send it to your wallet and then back to coinbase, and back to your wallet again, then try to donate it to someone or some organization. This will make sure you can at least get your on line instance of Armory to go online, and that you know how to access your funds.  One of the reasons Armory is "hard" to use, is that there are a bunch of different things that can make it difficult to get Armory online. Too often people find this out after they have locked up a bunch of bitcoins on their offline computer. Don't be that person.

Follow these steps for best results:
Install Armory on an online computer
Get Armory to go online (might take awhile)
Create a hot wallet (that is a wallet that with private keys on a computer connected to the internet)
Send $1 to the hot wallet and spend it to verify that you are in fact online
If you get through all of that, then proceed with installing Armory on the offline computer and create your offline wallet.
Then repeat your $1 test with the offline wallet too.

There are some great videos here that might help as well https://bitcoinarmory.com/tutorials/

[mistersheep]

Excellent! Thank you, that pretty much covers it all for now. I have been watching the videos (with no sound, long story) and of course my first source was O'Reilly, which I have now digested to the point I am starting to be able to at least talk about this stuff. 

I guess I should say that my immediate goal was to convince myself that I will able to create (restore) a wallet from my paper backups easily and reliably... on different hardware, etc.

Just from my own point of view, here are some of my recent lightbulbs:

• once I am "enlisted," not much happens at the exchange
• one private key = one wallet
• I need more than one wallet!
• I probably should only use each wallet once

Would not have guessed "online first, then offline." I did get that I should play around with a few bucks for a while first (and donate!)

[Carlton Banks]

Just from my own point of view, here are some of my recent lightbulbs:

• once I am "enlisted," not much happens at the exchange

That's possible...

• one private key = one wallet

No, you can import a private key ( + corresponding public keys) into an Armory wallet file

• I need more than one wallet!

It's useful

• I probably should only use each wallet once

No. Use each wallet address only once, the wallets themselves aren't very convenient to delete and re-create. You get the same privacy either way[/list]