Hello Nash Community, i’m new here.
I like the idea of Nash being a non-custodial exchange and wallet, but what i dont like is that the 12 words can be used to recover your private keys on nash itself. But what happens when nash as a exchange or website gets down? When gaining popularity, this is a possible scenario.
I have read a offline tool will be released later to convert those words into private keys…But what about current solutions? Best is to simply save private keys of tokens stored manually?
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I am pretty sure that any crypto wallet that uses a 12 word recovery phrase backup system as well (like possibly exodus) can be used to restore your assets from your recovery phrase (if I am wrong let me know). If you have the private keys though you will be able to 100% access funds anywhere. Nash has said they will be releasing an offline tool that will be able to extract your private keys from your 12 word recovery phrase in the future (if Nash is to ever go down).
ofcource its doubtful if nash goes down, but they do not have volume right now, and attacks can always happen (on servers causing downtime). That’s why i rather have that offline tool sooner then later, just to be 100% in control of funds, since nash is a way of accessing those funds now.
I dont think exodus for example works.
I’m pretty sure we’re meant to backup our private keys! Otherwise you depend on Nash to access your funds.
i suppose that’s the only way to do it then…for now.
You can use any BIP39 compatible Wallet to recover you private keys.
The only thing you can not directly access are the assets you sent to your trading contract. Those assets needs to be released to send them back to your personal account.
This is what nash will provide in future. A tool that sends assets back from trading contract to personal account.
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