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How can I use cold storage with Coinprism?

Last Updated: Mar 26, 2015 04:28AM GMT
Cold storage allows you to store your private keys on a machine that has never been in contact with the internet. 

The Coinprism cold storage functionality allows you to perform almost all of the colored coins operations offline: you can for example issue, send or receive colored coins, or distribute dividends from an offline address.

You can find instructions to use your TREZOR with Coinprism in this article. Find below the instructions to use an Armory offline wallet with Coinprism:
  1. Install Armory: Make sure you use Armory version 0.92 or later. If you don't already have Armory installed, please follow these steps.
  2. Add an offline address to your Coinprism account:
    • Go to the Addresses tab in Coinprism and click "New Address" or visit this page
    • Give your Address a label
    • In the drop down list, select "Address type: Cold storage address"
    • Then add your cold storage address, for this you have two options:
      • If there has been at least one outgoing transaction from the address, you can simply enter the address to import.
      • Otherwise enter the Public Key in hex format (see image below)
  3. Once the address is added in Coinprism, simply make a transaction as you would usually do. Instead of the usual confirmation screen though, you will see a page giving you the unsigned transaction. Download it as a file, and put it on a USB drive.
  4. You can then bring that USB drive to your offline machine, and use Armory to sign the transaction offline. Replace the file with the signed transaction. 
  5. Finally, bring the USB drive back to your online machine, and use Armory to broadcast the transaction to the Bitcoin network.
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