Difference between Wallet and Exchange

[Migo 7946]

Wallets are made just for store bitcoin or other cryptocurrencies unlike exchanging sites which they used for making your coins always active, exchange, deposit, withdrawa, and keeping an eye on prices 

[lakhlomoha 485]

In exchange you have your coin ready to be sell it at any moment you want,see the price right now is not very stable.but in wallet you need to send it to exchange to sell or buy some,just choose  what you will need

[Corrado25 9442]

On 20.10.2019 at 12:49 AM, ferdoinla said:

Basically nothing new. That's what we knew. The exchange can also be used as a wallet. There are also wallets where we can both hold and exchange coins. Although the exchange rate on such wallets is higher than on the exchanges and not always profitable.

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You can use the exchange, but it will be better if you use the wallet. If you put money on the stock exchange then it is the money of the stock exchange and not yours. Unfortunately, exchanges often deceive their customers. I would choose exchanges that have all the documents and licenses to work in their country, that is, they work officially and pay taxes.

[Congli18 154]

maybe in my opinion now the difference between a wallet and an exchange, a wallet has very good storage is different from an exchange only issuing coins which is what other people do, maybe that's what I know.

[myaccount1 584]

Yes in wallet we can store multiple coins for the purpose of investment and in exchange we can trade with multiple coins and make the large amount of money with playing trading in whole market.

[giash crypto 258]

exchange means, where peoples can trade for another currency. and wallet is like your money bag. there no big difference but personal wallet is safer than exchange wallet.

[yifnt 666]

The wallet is a special place for storing cryptocurrency assets and there is no trade there, while their exchanges also have a wallet but not for storing, but the wallet is for storing assets used for trading. But I also put some funds in an exchange wallet but that is not recommended

[Crypto123 0]

Thanks to this nice topic and important information, Really there are people who do not know the difference between wallet and exchange, the main benefit of the wallet is storage, especially long-term storage. Exchange can be stored and you can trade.

[doriahailee 643]

In language I think what you said before is correct and certainly also with its usefulness. Wallet is designed to act as the main wallet of our assets and only temporary exchange where it acts as a wallet when we trade.

[aqua 773]

You can store your coin in the wallet or the exchange, but I prefer to save the coin in the wallet and only store some amount at the exchange. We should do that because we don't know if the exchange can online for a long time, and we can use that part to trade to increase the amount of each coin. But if the exchange can be trust and they have a good service, I think we can store the coin at the exchange, but you need to be careful and only choose the recommended exchange to store the coin. We see that some exchange cannot protect the customer asset, and they got hacked many times, so we don't have to save our coin in their site. 

[Jokeer 648]

Both wallet and exchange mostly the same things but the main difference between them that Exchange site is not your wallet, it is an account of yours in exchange site owners' wallet. On the other hand, your BTCs are in his wallet.

[Aceventura 208]

The main difference is the purpose they are used for. Wallet is used as storage to keep your bitcoin safe; whereas exchange is used for buying or selling. Some exchange offers wallet feature as well. 

Edited November 25, 2019 by Aceventura

[rakib7970 217]

Wallet: You can use it as storage of your crypto for short time or long time. You can send or receive your crypto. You also can buy or sell your them by using your wallet.

Exchange : You will get all features of wallet in exchanges. Besides these you can trade your coins here and there is risk involved. 

[Angelina 64]

Thanks for share with us this helpful information. We should not store our crypto coin in exchange it's better to store coin on the wallet which I do.

[LOLOP 0]

Personally, in most cases I store large amounts precisely on exchanges, just because transfers from wallet to exchanges charge a commission, and sometimes this commission hits the balance sheet

[Aceventura 208]

An exchange lets you convert fiat money like US dollars to bitcoin or one crypto to another crypto. On the other hand, wallet is basically a hardware device or software program in which you store your digital assets. An exchange can work like a wallet (e.g. coinbase) but you don't necessarily have full control of that wallet.

[Zentoly 419]

On 11/19/2019 at 10:22 PM, Aceventura said:

The main difference is the purpose they are used for. Wallet is used as storage to keep your bitcoin safe; whereas exchange is used for buying or selling. Some exchange offers wallet feature as well. 

Right to say in wallet we can use for saving coins and exchanges is for trading.

[Luciferludz 1442]

Crypto wallets are only used to store your crypto as a bank but exchange is where you can increase the amount of your coins by doing trading then withdraw them to wallet.

[Agios 1763]

Indeed, many wallets use both functions as store or swap, especially online wallet and smartphone application wallet. If you want to use pure wallet use Desktop wallet.

[vycl87 306]

2 hours ago, Agios said:

Indeed, many wallets use both functions as store or swap, especially online wallet and smartphone application wallet. If you want to use pure wallet use Desktop wallet.

You are mentioning hot wallets. So there is a relation between internet and this wallets security information. Yes there are many features but many risks also. Then we always be careful when we are using hot wallets.

[Muphin 459]

All in all, wallet is where you store your digital currencies while exchange is a place or an action which you buy, sell, trade your digital coins. Wallet is a storage of your exchanged crypt coins.

[Lubruselu 2803]

I can say both exchange and crypto wallets they are all wallets but they are different in use.

The exchanges plstform is used to spend cryptocurrencies but wallet is to keep them safe.

[CryptoBoy20 170]

Many people keep their btc in exchange website that's a good post for them. Some wallet allow to buy & sell btc we can sell & buy in coinbase this is one kind of exchange

[FlatterCar 696]

I do not understand such people who confuse these terms, because they do not resemble each other at all. But on the other hand, the exchange also has its own wallet, which can also be replenished and withdrawn, but there it will be very expensive.

[dmnqe07 365]

Good topic, i think wallet are for your coins, the purpose of wallet is to store your coins from it, there are a lot of kinds of wallet but i only know two, it was the hardware wallets and online wallets. and the exchange purpose is where you can buy and sell.