Wallet recovery is crucial for maintaining access to your assets, even if you lose your device or choose to use a different provider. Understanding how to securely recover and export your wallet ensures that your funds remain protected and accessible!
What Happens If I Lose My Device?
Losing a device doesn't mean losing your Rally Wallet. If you have access to your iCloud account (for Apple users) or Google account (for Android users), and your Rally account, regaining access to your wallet is straightforward.
Log into your account on a new device that's signed into the appropriate iCloud or Google account.
Your wallet will be automatically activated on that device.
Exporting My Wallet to Another Provider
Rally's Wallet is built to work seamlessly within the Rally App, but it is possible to move to an external provider. This will require that you export your private key from your device, which you can do following the steps below:
⚠️Note — exporting your Rally Wallet keys removes the built-in benefits of MPC. With the private key exposed, it is susceptible to single point of failure issues, theft, and unauthorized access. Additionally, some future features may only be available to wallets that have not been exported. You can continue to use your Rally Wallet in-app even after exporting your private key.
What if Rally Goes Away?
There are three parties involved in backing up your keys - any two of them can provide the information you need to recover your wallet.
Why do we not enable it by default? There are features we have planned that are only possible when we, and other users interacting with you, know that the keys have never been exported and so can’t be compromised.
We will be releasing more documentation and an independent tool for wallet recovery in the event of Rally's untimely demise soon.