What is a Crypto Wallet? A 2026 Guide for Australians

A crypto wallet stores the private keys that control your cryptocurrency on the blockchain — not the coins themselves. Hot wallets stay connected to the internet; cold and hardware wallets keep keys offline. Exchange accounts are usually custodial; self-custody means you control the keys and seed phrase. In Australia, AUSTRAC-registered VASPs hold customer crypto under AML rules (not an AFSL). Scamwatch warns about fake wallet apps that steal seed phrases. Education only — not financial advice. Publisher: Eagle BTM Pty Ltd ACN 659 281 820 (AUSTRAC DCE / VASP).

A crypto wallet stores keys that control your coins, not the coins themselves. Hot vs cold, custody vs self-custody, and AU Scamwatch fake-wallet apps.