Difference between Wallet and Exchange

[Soaib khan 1035]

Thanks for information your topic helpful for newbies.i using blockchain wallet for holding longtime and for trading using binace exchange.

[Apple 202]

A crypto wallet is used to receive and send coins. There are many types of wallets. The exchange also uses wallets to receive coins from traders. You should keep coins in your personal wallet unless you have an investment in the exchange.

[Maaz sultan 265]

A wallet is a place where you store your money in crypto world this is called crypto wallet and on this you store your crypto currencies 

And an exchange is a website where you can convert your crypto currencies into others and all the wallet have his own wallet .

[scorpiali 5626]

4 hours ago, Cbnayeem88 said:

Mainly some use the exchange deposit address for storing their asset but this is very much unsafe. all should should store his asset to any hardware wallet.

It's a bar thing to store your Coins on exchange Wallet the best way is to store them in your wallet and 5here is a many choices, abd if you have a big amount of coins the safe way is a hardware wallet as you said but the majority don't use because it's not free

[scorpiali 5626]

26 minutes ago, flosaw said:

Excellent my partner these focuses are key to working cryptocurrencies, the thought is that more people connect him and not anything superior than having distinctly clear what should not be done so that the involvement is wonderful and avoid misfortunes. Thank you in your commitment to the problem

You are welcome brother if we can give some ideas we really do it with pleasure, good luck

[Rickso 768]

On 10/14/2019 at 9:46 PM, starwill said:

A wallet or Digital wallet, allows us to keep and have control of our Cryptocurrencies, and an exchange allows us to exchange, buy and sell our Cryptocurrencies.

and this is the reason why cold wallets are better then keeping cryptos in exchanges.

the full control of your coins is they key to keep safe your fund, if you keep your cryptos in exchanges you are not controlling them and if the exchange will hacked or it will scam, then you will lose all your coins

[Man 741]

Sometimes we can also find a wallet that can be exchanged directly or more precisely is a convert. But what we do know is that the crypto wallet and the exchange wallet have the same goal, which is to save our assets. But certainly the two have different things.

[deepown 0]

In exchages the money is not users real, even though you can cash out at anytime, in the wallet you hold all the cards.

[wijont 101]

A excellent information for the new member like me. So i will apprehend the distinction of wallet and exchange now.

[Huma khan 0]

Wallet is software program in which we can save our payment and exchange is platform in which we can convert our coins. 

[Farouq77 2]

Please:- can someone tell me more about the wallet and the bitcoin so that I can know better thank  for concern

[Seedra 222]

Saving money in exchange is a temporary way..and you donot know when they close their account..i think saving money in blockchain app is safe

1 hour ago, Matchblower said:

Exchange is a good medium for making transaction between the two coins and wallet is storage for coins

Donot worry about saving money on bitcoin or blockchain app..i think it is safe...and i trust it..it is my expirence

[Victor Lopez 143]

That's right, it is not advisable to save your assets on an exchange site you can change any inconvenience and lose everything

[George10 9932]

Great information there very helpful  to beginners and those who still don't know the exact different between a wallet and exchanger I would like to simplify it in simple terms,a wallet is where you keep your coins and you can use them whenever you want to while an exchanger is a platform where you can change one crypto currency to another with low fees and most of exchangers out there apart from yobit the one i know they don't have a wallet where to keep your coins an example is  changelly  and these exchangers with wallets where you can keep your coins are not as gud as a person wallet cause the exchangers they will give you excuses when withdrawing or spending your coins while in a personal wallet you can have access and spend your coins at any time without any restrictions as compared to exchangers.

 

Edited February 13, 2020 by George10

[avatarkiyoshi 270]

3 minutes ago, AHSANUL31 said:

No difference for me in terms of security whether i want to keep in online wallet or exchange. Maybe if i am a trader that trades frequently so it will be exchanges as i will have funds readily available anytime

Exactly true, both have same security level which actually doesn't fit to be as storing coins. 

If i need to choose online wallet or exchange, i prefer to exchange, like you said, i have a coins on my exchange wallet account that ready to trade anytime.

[loaspokun 22]

On 17.02.2020 at 20:27, thracsebo said:

I think  wallet means money transfer system and deposit this. And exchange means change the money.  One currency to another  currency. 

It is essential to make clear that there are numerous sorts of wallets (Physical, Within the cloud, for PC, for Smartphone, paper, among others)

[campbage 13]

On 17.02.2020 at 22:45, habspepar said:

There are numerous closed trade and in the event that you hold all your coins on trade you keep in mind this:

Thank you on your explanation. Spare cash in alternate is especially risk, we do no longer know when they'll run and close to their location. I as it were utilize Believe wallet and blockchain app for man or woman wallets. I do now not have coins to buy device wallet 😥

[lgatabcan 6]

On 18.02.2020 at 05:02, distlopge said:

Exchange is a web level, in which diverse varieties of Cryptocurrencies can be traded, bought and offered, at a loose show off fee, wherein the esteem of each one is installation by its claim consumers and sellers, agreeing to the exhibit improvement.

Each, among pockets and change locations are at risk of dropping your sources.

[Nakamoto 279]

1 hour ago, Billal kazi said:

The key difference between a cryptocurrency wallet and a cryptocurrency exchange is that the wallet's main purpose is to safe keep your crypto, while the exchange is there to facilitate trading from one coin to another.

Nice copy then paste. Easy to spot.

 

But I think this is the purpose of the op to differentiate between the use of a personal wallet and an exchange wallet. Don't keep your coins on the exchange for long but keep them in your wallet.

[Jocund 86]

You can't safely store your crypto coins in exchange, because in any time you may get ban. And wallet isn't able to ban you. And exchanges have giant fees relatively cryptowallet.

[BitMart 326]

This is very clear and we all know what is difference between exchange and wallet because exchange is platform for exchanging your coins and tokens in fiat or other cryptocurrencies and wallet is just for keep coins safe just one thing ever keep in mind that never disclose your private keys of wallet to any one keep them safe as these are very important for safety.

[Hendy1 370]

So I use the Ledger nano hardware wallet to store crypto in my personal wallet and I also use an exchange wallet to make bitcoin and altcoin trading transactions. so this is about security and facilities for crypto wallet and exchange wallet

[jona1 35]

Thank you very much for this post. A very good information that serves to be clear in what is a wallet and an exchange. Some people cannot see any difference between these two. This information can help clarify those differences.

[Ayush Singh 1175]

Exactly the above post define and differentiate the meaning of exchanges and wallets in very depth wallet is only for storing our coins and exchanges can do multiple of activities like at also facilitates the service of wallets and we can also do trading and investment through it.

[Whited35 15285]

There are some major differences between this very popular two words in the crypto world. Wallet is just to store your crypto currencies but exchange is to change your crypto currencies to other currencies or the real cash for your life.