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 is a 12 or 24-word BIP39 backup that controls a crypto wallet. Store it offline, never share it, and watch Scamwatch fake-support scams.