Using Keystore

Whilst it is not recommended due to considerably weaker security, connecting to DeversiFi using Keystore is as easy as uploading a file.

What is Keystore?

When managing your crypto assets using Keystore file, you are storing your public and private keys on your device. This exposes them to risk every time you access the internet using your device. To access an app or an website using your Keystore file requires you to upload the file online, possibly exposing you to phishing attacks and other security risks. You always need to check if the website you are accessing is genuine (e.g. using the https:// protocol).

1. Setting up Keystore 

If you do not already have a Keystore file, you will need to create one before you can use it to connect to the portal. The easiest way to do this would be to navigate to MyEtherWallet and begin creating a new wallet. First, chose a secure password, click ‘Create New Wallet’ and follow the step by step instructions. 

First, you need to create a new wallet using your selected password. (MyEtherWallet currently does not support the 12 word recovery phrase, so make sure you remember your password!)

Second, you download your newly generated Keystore file associated with your new wallet. You will be using this file in combination with your selected password to access your wallets.

2. Connecting to DeversiFi

Once you have a Keystore file ready, your private key safe and you are confident using Keystore you can begin connecting to the portal.  

To begin, head to DeversiFi and select the Keystore option. You will then be asked to upload your Keystore file and to enter your password. Afterwards, proceed with on-boarding as usual.



3. Trading with Keystore 

Trading on DeversiFi using Keystore is very similar to any other method, except you do not need to confirm any transactions or to sign messages (as in the case with e.g. Metamask), because the Keystore file is already handling this for you from the moment you uploaded it to the app and unlocked it with your password. DeversiFi cannot directly read your private keys.

Note: We do not recommend using Keystore file unless it is your only viable option and you are an advanced user. For new users, we strongly recommend using one of the other options, e.g. Portis or Metamask as these are more user friendly and more secure ways to manage your crypto assets and to trade on DeversiFi.

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