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?


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
    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 '21 at 19:14

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