What is a Seed Phrase? A 2026 Guide for Australians

A seed phrase (also called a recovery phrase or mnemonic) is a list of 12 or 24 words that can recreate the private keys of a crypto wallet. Whoever has the phrase can move the funds. There is no password reset. Store it offline; never screenshot, email or type it into a website. In Australia, Scamwatch warns that fake police and fake exchange-support callers ask for seed phrases. Coins left on an AUSTRAC-registered exchange are platform custody, not self-custody. Education only — not financial advice. Publisher: Eagle BTM Pty Ltd ACN 659 281 820 (AUSTRAC DCE / VASP).

A seed phrase (recovery phrase / mnemonic) explained for Australians in 2026: BIP39 12 or 24 words, why it controls wallet keys, how to store it offline, what happens if you lose it, Scamwatch fake-support theft, and self-custody vs AUSTRAC-registered exchange custody. Education only.