Difference between Wallet and Exchange

[Sagor 500]

Wallet are used to store asset which are not using for trading. exchange wallet is not much secured . so one should not store his all asset to any exchange wallet.

[Syedbesharat 5423]

On 10/19/2019 at 11:11 AM, gerry said:

Thumbsup this post very informative..exchange sometimes we think what if suddenly hack or close..so we are losing our coins..while in wallet we are the boss..we can do anything what we want...

Your wallet stores your coins and an  exchange typically have wallet built into them as well (hot wallet), where you can trade your currencies.like coinbase have.

[ShakilA 373]

Wallet and Exchanger is very different thing.Wallet where you can only stored your crypto.But in Exchanger you can trade and exchange your crypto

[pakjobhelp 1585]

 

On 10/19/2019 at 12:50 AM, wingfield said:

This topic is very useful for beginners in the crypto market. I'm sure many people don't know and wanted to know the difference between wallet and exchange. Many choose to buy a long-term currency and keep it on the exchange until the profit will be considerable. I think it's a mistake. If you do not want to exchange your coins in other currencies, it would be good to store the coins in a wallet

I agree with you and your opinion about wallet and exchange. This information about wallet and exchange for more useful for beginners. In my opinion wallet and exchange different about use of purpose, exchange is use for the conversion one to another and wallet is used for storing crypto currency.

[Saif588 84]

There are many difference between wallet and exchange.saving money in a place is called wallet .on the other hand exchange is giving one thing and receiving another in return.

Edited December 23, 2019 by Saif588

[Iamstrong 563]

For me, the difference between exchange wallets from ordinary ones is that the exchange can be hacked, and the wallet is unlikely to be hacked, the wallet must be mistaken somewhere.

[Tarkin4ik 3160]

The difference between them is quite large, it seems to me that you do not even need to compare to understand this.

[febriyana 934]

Wallet is the safest place to store your cryptocurrency. Because that is created by yourself and only you have responsible about the wallet. Only save the private key in the safe place.

But for exchanges is created by company, it is created to help you trading coin to other coin in short time.

So the main thing not to store your coin and also they will not guarantee if you store the coin there.

Many people is not care about the safety so they only save the coin on exchanges, please be careful.

 

[CryptoLover21 0]

Wallet is just like your real wallet to. Store money or coins, and exchange is like bank where you deposit your money

[Beromnia 733]

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.

Hello my friend
Add to your explanation, my friend, that on exchange platforms you can keep cryptocurrencies in the wallets for each currency.
But in terms of safety, free wallets are much better for storage than platform wallets

[Nahidnoor 24]

 This is my opinion, a Bitcoin wallet is basically a software program that you store in the Bitcoin store. An exchange allows you to convert "real money" into bitcoin like the US dollar.  Exchanges also provide a wallet - but you don't necessarily have full control of that wallet.

  We do not recommend you invest in bitcoin.  However, if you are making money on Bitcoin - or just curious about how it works - you should know this thing...

Thank you so much everybody.

[Amir Vao 341]

In wallet and exchange there are difference between of them. We can store our coins on the wallet. Also we can make transaction. On the other side in exchange we can store our fund and transfer our fund. We can also trade our coins to different coin.

[Upright 2688]

Wallets serves as stores to keep hold of your currency.

And Exchanges are platform to help, inter change a currency from one coin to another. Will keeping tab on their change rates

[NordisLofer 77]

When exchanging cryptocurrencies, they are left whenever it is going to trade, that is, it is not recommended to store assets stored on the exchange, because the risk of loss still exists even with every proposed protection mechanism.

[mrking049 260]

Wallet may be used for holding your money but exchanges are using for trading . Yobit is best exchange. you can trade on yobit. And Coin base is best wallet and you can hold your bitcoin on this wallet.

[Jesoy 1342]

This is a helpful post. Now people wont be coming confused between the two. Both have theit own functions.

[jacker 1095]

The wallet is what lets people store or store their cryptocurrencies or coins. exchange is another activity, you will exchange, convert your cryptocurrency to any currency you want.

[Akbor 1042]

On ‎12‎/‎14‎/‎2019 at 11:34 AM, Sujon33 said:

There are many differences between a wallet and an exchanger.Wallet only used to store cryptocurrency.You can store and trading both in exchanger

Mainly exchange wallet are not much secured to store huge amount. any one can store his asset to any cold storage wallet with high security.

[Kventin 245]

I think that keeping money in your wallet is much safer than keeping money on the exchange. I feel much calmer if I own a private key and have access to my wallet.

[Amirul Islam 382]

On 10/15/2019 at 1:46 AM, starwill said:

What is a wallet?
Wallet, Spanish "Wallet", as well as "digital wallet", is the place where we are going to store our Cryptocurrencies, they have no other function than to store them.

There are Wallets where you can store a single type of Cryptocurrencies (for example: Bitcoin) and in turn there are other wallets where you can store different types of Cryptocurrencies (For example: Bitcoin, Ethereum, Litecoin, among others.)

It is necessary to clarify that there are different types of wallets (Physical, In the cloud, for PC, for Smartphone, paper, among others)

What is an Exchange?

Exchange is an online platform, where different types of Cryptocurrencies can be exchanged, bought and sold, at a free market price, where the value of each one is established by its own buyers and sellers, according to the market movement.

We can see the exchange as a financial market, which is governed by the principle of free supply and demand, people exchange their different cryptocurrencies, seeking to obtain the highest possible return.

Clarified both terms we can differentiate

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.

Thank you for sharing this. I was little confuse between exchange and wallet. Now I am clear.

[Amir Vao 341]

On 10/15/2019 at 1:46 AM, starwill said:

What is a wallet?
Wallet, Spanish "Wallet", as well as "digital wallet", is the place where we are going to store our Cryptocurrencies, they have no other function than to store them.

There are Wallets where you can store a single type of Cryptocurrencies (for example: Bitcoin) and in turn there are other wallets where you can store different types of Cryptocurrencies (For example: Bitcoin, Ethereum, Litecoin, among others.)

It is necessary to clarify that there are different types of wallets (Physical, In the cloud, for PC, for Smartphone, paper, among others)

What is an Exchange?

Exchange is an online platform, where different types of Cryptocurrencies can be exchanged, bought and sold, at a free market price, where the value of each one is established by its own buyers and sellers, according to the market movement.

We can see the exchange as a financial market, which is governed by the principle of free supply and demand, people exchange their different cryptocurrencies, seeking to obtain the highest possible return.

Clarified both terms we can differentiate

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.

Many people don't know what is wallet and what is exchange. I think this post help these people to learn about wallet and exchange.

[Crypto_trader 46]

Well' wallet is basically software program where you store your bitcoin and exchange mean you convert your money like convert your bitcoin to Usd and another currency

[Suhannewaz 245]

Essentially, a Bitcoin wallet is a software program in which Bitcoin is stored. An exchange helps you to turn "real money" into Bitcoin like US dollars. Exchanges also supply a wallet– but you don't always control the wallet completely.

[Naga 1250]

17 minutes ago, Matchblower said:

You are right, exchange is all about trading them and making profits while the wallet for saving

if you think about it then you would know its always better to keep your money on wallets because every exchange can be hacked and people will lose their money.

[Ali_hmwi 966]

Great from you to share this information that will help me and other alot i will copy the url of the topic and give it to my friends it will help me not to speak alot and explain anymore...