diff --git a/tests/unit_tests/wallet_storage.cpp b/tests/unit_tests/wallet_storage.cpp
index dacaff960..ff01e452c 100644
--- a/tests/unit_tests/wallet_storage.cpp
+++ b/tests/unit_tests/wallet_storage.cpp
@@ -29,6 +29,8 @@
 #include "unit_tests_utils.h"
 #include "gtest/gtest.h"
 
+#include <cctype>
+
 #include "file_io_utils.h"
 #include "wallet/wallet2.h"
 
@@ -38,6 +40,9 @@ using namespace epee::file_io_utils;
 static constexpr const char WALLET_00fd416a_PRIMARY_ADDRESS[] =
     "45p2SngJAPSJbqSiUvYfS3BfhEdxZmv8pDt25oW1LzxrZv9Uq6ARagiFViMGUE3gJk5VPWingCXVf1p2tyAy6SUeSHPhbve";
 
+// https://github.com/monero-project/monero/blob/67d190ce7c33602b6a3b804f633ee1ddb7fbb4a1/src/wallet/wallet2.cpp#L156
+static constexpr const char WALLET2_ASCII_OUTPUT_MAGIC[] = "MoneroAsciiDataV1";
+
 TEST(wallet_storage, store_to_file2file)
 {
     const path source_wallet_file = unit_test::data_dir / "wallet_00fd416a";
@@ -264,3 +269,115 @@ TEST(wallet_storage, change_password_mem2file)
 
     EXPECT_EQ(primary_address_1, primary_address_2);
 }
+
+TEST(wallet_storage, gen_ascii_format)
+{
+    const path target_wallet_file = unit_test::data_dir / "wallet_gen_ascii_format";
+
+    if (is_file_exist(target_wallet_file.string()))
+        remove(target_wallet_file);
+    if (is_file_exist(target_wallet_file.string() + ".keys"))
+        remove(target_wallet_file.string() + ".keys");
+    ASSERT_FALSE(is_file_exist(target_wallet_file.string()));
+    ASSERT_FALSE(is_file_exist(target_wallet_file.string() + ".keys"));
+
+    const epee::wipeable_string password("https://safecurves.cr.yp.to/rigid.html");
+    
+    std::string primary_address_1, primary_address_2;
+    {
+        tools::wallet2 w;
+        w.set_export_format(tools::wallet2::Ascii);
+        ASSERT_EQ(tools::wallet2::Ascii, w.export_format());
+        w.generate(target_wallet_file.string(), password);
+        primary_address_1 = w.get_address_as_str();
+    }
+
+    ASSERT_TRUE(is_file_exist(target_wallet_file.string()));
+    ASSERT_TRUE(is_file_exist(target_wallet_file.string() + ".keys"));
+
+    // Assert that we store keys in ascii format
+    {
+        std::string key_file_contents;
+        ASSERT_TRUE(epee::file_io_utils::load_file_to_string(target_wallet_file.string() + ".keys", key_file_contents));
+        EXPECT_NE(std::string::npos, key_file_contents.find(WALLET2_ASCII_OUTPUT_MAGIC));
+        for (const char c : key_file_contents)
+            ASSERT_TRUE(std::isprint(c) || c == '\n' || c == '\r');
+    }
+
+    {
+        tools::wallet2 w;
+        w.set_export_format(tools::wallet2::Ascii);
+        ASSERT_EQ(tools::wallet2::Ascii, w.export_format());
+        w.load(target_wallet_file.string(), password);
+        primary_address_2 = w.get_address_as_str();
+    }
+
+    EXPECT_EQ(primary_address_1, primary_address_2);
+}
+
+TEST(wallet_storage, change_export_format)
+{
+    const path target_wallet_file = unit_test::data_dir / "wallet_change_export_format";
+
+    if (is_file_exist(target_wallet_file.string()))
+        remove(target_wallet_file);
+    if (is_file_exist(target_wallet_file.string() + ".keys"))
+        remove(target_wallet_file.string() + ".keys");
+    ASSERT_FALSE(is_file_exist(target_wallet_file.string()));
+    ASSERT_FALSE(is_file_exist(target_wallet_file.string() + ".keys"));
+
+    const epee::wipeable_string password("https://safecurves.cr.yp.to/rigid.html");
+    
+    std::string primary_address_1, primary_address_2;
+    {
+        tools::wallet2 w;
+        ASSERT_EQ(tools::wallet2::Binary, w.export_format());
+        w.generate(target_wallet_file.string(), password);
+        primary_address_1 = w.get_address_as_str();
+        w.store();
+
+        // Assert that we initially store keys in binary format
+        {
+            std::string key_file_contents;
+            ASSERT_TRUE(epee::file_io_utils::load_file_to_string(target_wallet_file.string() + ".keys", key_file_contents));
+            EXPECT_EQ(std::string::npos, key_file_contents.find(WALLET2_ASCII_OUTPUT_MAGIC));
+            bool only_printable = true;
+            for (const char c : key_file_contents)
+            {
+                if (!std::isprint(c) && c != '\n' && c != '\r')
+                {
+                    only_printable = false;
+                    break;
+                }
+            }
+            EXPECT_FALSE(only_printable);
+        }
+
+        // switch formats and store
+        w.set_export_format(tools::wallet2::Ascii);
+        ASSERT_EQ(tools::wallet2::Ascii, w.export_format());
+        w.store_to("", password, /*force_rewrite_keys=*/ true);
+    }
+
+    ASSERT_TRUE(is_file_exist(target_wallet_file.string()));
+    ASSERT_TRUE(is_file_exist(target_wallet_file.string() + ".keys"));
+
+    // Assert that we store keys in ascii format
+    {
+        std::string key_file_contents;
+        ASSERT_TRUE(epee::file_io_utils::load_file_to_string(target_wallet_file.string() + ".keys", key_file_contents));
+        EXPECT_NE(std::string::npos, key_file_contents.find(WALLET2_ASCII_OUTPUT_MAGIC));
+        for (const char c : key_file_contents)
+            ASSERT_TRUE(std::isprint(c) || c == '\n' || c == '\r');
+    }
+
+    {
+        tools::wallet2 w;
+        w.set_export_format(tools::wallet2::Ascii);
+        ASSERT_EQ(tools::wallet2::Ascii, w.export_format());
+        w.load(target_wallet_file.string(), password);
+        primary_address_2 = w.get_address_as_str();
+    }
+
+    EXPECT_EQ(primary_address_1, primary_address_2);
+}