What is a cryptocurrency wallet?¶

A cryptocurrency wallet is a system used to manage cryptographic keys, addresses and transactions for digital assets.

Avoid the dangerous assumption¶

The dangerous assumption is that the wallet physically stores cryptocurrency in the same way a purse stores cash.

The assets are normally recorded on the blockchain.

The wallet manages the information needed to view balances, create addresses and authorise transactions.

A wallet may be software on a phone or computer, a browser extension, a hardware device, a paper backup or a service operated by a provider.

One wallet may control many addresses and several different assets.

The person using the wallet may also be different from the person who created it.

Relevant evidence may include wallet name, application, device, addresses, transaction history, account identifiers, key material, seed phrase, connected services and timestamps.

A wallet interface may display incomplete or synchronised information.

Do not rely only on the displayed balance.

Verify relevant transactions through the correct network and provider records.

A wallet found on a device does not automatically prove that the device owner controlled it at every relevant time.

Credentials, seed phrases or sessions may be shared or imported elsewhere.

Preserve the device and wallet context before opening, updating or synchronising the application where possible.

Seek specialist support where key material or live assets may be affected.

When reporting, distinguish the wallet application, cryptographic keys, blockchain addresses, device and actual controller.

Operational takeaway¶

Treat a cryptocurrency wallet as a key-management and transaction system and establish control through device, key, address, provider and contextual evidence.