1

I am a crypto/Ethereum newbie. I came across LocalCryptos (localcryptos.com), which is a non-custodial platform used mainly for trading ETH.

It says: Keep your funds secure by backing up your wallet. If LocalCryptos were to ever go offline, you can still access your wallet using this file.

My question is: how would I use that file to access my ETH wallet, if the site goes offline?

1

From: https://localcryptos.com/academy/securing-your-localcryptos-account

You can find the download button to your wallet backup in the "Account" section on your homepage. To interact with the wallet backup file, you can use the open-source "LocalCryptos Wallet Backup Explorer" tool provided

Which points to this tool -> https://github.com/LocalCryptos/LocalCryptosWalletBackupExplorer

However, from that repository it says:

"Unfortunately, the algorithm is non-standard. This is why your backup file isn't compatible with other wallets."

Which is a Bad Thing™.

If you plan on using their service, I would download or clone that GitHub repository now - and check you can access your wallet with it - before it "mysteriously disappears".

1
  • 1
    Thanks for the detailed and very informative response. (Unable to upvote due to being a new user, but have accepted the answer.)
    – Himanshu A
    May 5 at 19:14

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.