diff --git a/packages/wallet-lib/docs/_sidebar.md b/packages/wallet-lib/docs/_sidebar.md
index 100de697a9d..d44aa0ea626 100644
--- a/packages/wallet-lib/docs/_sidebar.md
+++ b/packages/wallet-lib/docs/_sidebar.md
@@ -42,6 +42,7 @@
         - [`.fromSeed()`](wallet/fromSeed.md)
         - [`.generateNewWalletId()`](wallet/generateNewWalletId.md)
         - [`.getAccount()`](wallet/getAccount.md)
+        - [`.dumpStorage()`](wallet/dumpStorage.md)
     - Identities
         - [`new Identities()`](identities/Identities.md)
         - [`.getIdentityHDKeyByIndex()`](identities/getIdentityHDKeyByIndex.md)
diff --git a/packages/wallet-lib/docs/wallet/dumpStorage.md b/packages/wallet-lib/docs/wallet/dumpStorage.md
new file mode 100644
index 00000000000..8b1952b4bf6
--- /dev/null
+++ b/packages/wallet-lib/docs/wallet/dumpStorage.md
@@ -0,0 +1,15 @@
+**Usage**: `wallet.dumpStorage([opts])`    
+**Description**: Method dumps the state of the storage in JSON format
+
+**Warning**: Storage dump may contain sensitive data.
+Please, do not share the output of this function for `mainnet` wallets.
+
+Parameters:
+
+| parameters             | type      | required       | Description                                                                       |  
+|------------------------|-----------|----------------| ----------------------------------------------------------  |
+| **opts.log**         | Boolean    | no             | Indicates whether storage should be logged in the console             |
+
+Returns : {String}
+
+
diff --git a/packages/wallet-lib/src/types/Wallet/Wallet.d.ts b/packages/wallet-lib/src/types/Wallet/Wallet.d.ts
index 566d157efe4..b6f8e35fa02 100644
--- a/packages/wallet-lib/src/types/Wallet/Wallet.d.ts
+++ b/packages/wallet-lib/src/types/Wallet/Wallet.d.ts
@@ -30,6 +30,15 @@ export declare class Wallet {
     generateNewWalletId():string;
     getAccount(accOptions?: Account.Options): Promise<Account>;
     sweepWallet(): Promise<Account>
+
+    /**
+     * <b>Warning:</b> Storage dump may contain sensitive data.
+     * Please, do not share the output of this function for mainnet wallets.
+     * @param options
+     */
+    dumpStorage(options?: {
+        log: boolean
+    }): string;
 }
 
 declare interface DAPIClientOptions {
diff --git a/packages/wallet-lib/src/types/Wallet/Wallet.js b/packages/wallet-lib/src/types/Wallet/Wallet.js
index 644e8da1b72..bffff130bd1 100644
--- a/packages/wallet-lib/src/types/Wallet/Wallet.js
+++ b/packages/wallet-lib/src/types/Wallet/Wallet.js
@@ -188,5 +188,6 @@ Wallet.prototype.getAccount = require('./methods/getAccount');
 Wallet.prototype.generateNewWalletId = generateNewWalletId;
 Wallet.prototype.exportWallet = require('./methods/exportWallet');
 Wallet.prototype.sweepWallet = require('./methods/sweepWallet');
+Wallet.prototype.dumpStorage = require('./methods/dumpStorage');
 
 module.exports = Wallet;
diff --git a/packages/wallet-lib/src/types/Wallet/methods/dumpStorage.js b/packages/wallet-lib/src/types/Wallet/methods/dumpStorage.js
new file mode 100644
index 00000000000..72c002f12a7
--- /dev/null
+++ b/packages/wallet-lib/src/types/Wallet/methods/dumpStorage.js
@@ -0,0 +1,29 @@
+const logger = require('../../../logger');
+
+const defaultOptions = {
+  log: false,
+};
+
+/**
+ * Dumps storage on user's demand
+ *
+ * @param options - dumping options
+ * @return {string} - Returns JSON string of the wallet store
+ */
+function dumpStorage(options) {
+  const dumpOptions = options !== null && typeof options === 'object'
+    ? Object.assign(defaultOptions, options)
+    : defaultOptions;
+  const storageDump = JSON.stringify(this.storage.store);
+
+  if (dumpOptions.log) {
+    // Add a linebreak to the log message for the ease of copying of the
+    // truncated log from the browser consoles
+    // (the text from the buffer then can be directly pasted to the JSON parser)
+    logger.info('Dumping wallet storage\n', storageDump);
+  }
+
+  return storageDump;
+}
+
+module.exports = dumpStorage;