Difference between Wallet and Exchange

[Syedbesharat 5423]

22 minutes ago, Yawar said:

Well It depends on where the private keys are stored.

Also, who would downvote this? What the hell is wrong with you all? There are thousands of new people learning about Bitcoin right now and you want to hide from them something as simple as what a wallet or exchange is?

You are right this topic is so old .Now we have to discuss more informative topics to learn new things in crypto.It is better to move forward and put your hands on new stuff.

[Goody28 259]

Nice article thanks for emphasizing the differences between exchange and wallet here most users tend to mistake exchange for wallet I will do well to extend this article to other users

[Sagor 500]

On 11/29/2019 at 4:41 PM, CryptoBoy20 said:

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

putting asset in the wallet exchange is not a good way to secure the asset. mainly using a hardware wallet is the best choice to save any asset.

[Sagor 500]

On 1/27/2020 at 2:40 PM, Goody28 said:

Nice article thanks for emphasizing the differences between exchange and wallet here most users tend to mistake exchange for wallet I will do well to extend this article to other users

i think no one should store their asset in the exchange wallet as te exchange wallet are not much secured than any personal wallet.

[kadayakito 765]

I think it's easy to understand that the wallet is for storing your cryptocurrencies in it to keep them safe, while exchanging is the exchange of different currencies in pairs.

[wijont 101]

Some people always think exchanges can serve the purpose of wallets but they don't know it's risky to put their funds there for no reason. Thanks for sharing

[Sasaki 171]

In my first joining crypto world I get confuse on that two, but now I have idea what is that as I continue to learn about crypto, and that is useful information for everyone new in crypto world so they might get confuse of the two. 

[amboro 0]

I think not all crypto exchanges can accept all crypto money because a lot of new crypto money has not been registered in various crypto exchanges and even if there are only a few crypto exchanges registered

[TasinHasan 421]

for me if i have to trade balance then i should use exchange otherwise always stay funds on mobile wallet because exchange account can be hacked and its risky. 

[dewita 12]

exchange is a special platform used by people from various countries to exchange Bitcoin for fiat currencies such as US Dollars or other cryptocurrency
 

[shafi123 187]

Wallet a place in which we store rhe coins and our income in it.  And transaction done through it and we tramsfer the money from any exchange. Exchange is a online platefornm in which we perform trading and changes of any crypto currency into desire coins.

[ammarfares 95]

On 10/14/2019 at 9:46 PM, 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.

It is very important to all people to know when use exchange and when use wallet . Never use exchange to storge coin for long term so it not save as wallet .and sure when you want to sell or buy use exchange. 

[Imran Ahmed 11]

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.Some have lost money that way.

[MuhammadSh 3067]

thank you for sharing this topic with us

there are a lot of people here don't know what is the difference between both of them

and these information are really important to be known for everyone!

[AmjadBydn 0]

Great post ! numerous indivisuals utilize the adressses given by trades as a wallet which appears like a genuine botch for security reasons 

[Goody28 259]

On 10/14/2019 at 8:46 PM, 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.

Good article I liked the way you differentiated it vividly even a newbie won't have problems comprehending the idea you are trying to share thanks mate

[Whydoyoucare 1094]

Wallet is where you are storing your different coins, and exchange is where you convert your fiat to crypto currency and also currency to fiat, this where converting happens and there are some exchange where you can trade.

[Sagor 500]

33 minutes ago, welco said:

It's clearly honest, Wallet is not Exchange and Trade isn't Wallet, you dont keep all your coins on Trade and inside the occasion that you want to trade send to Trade as it were cash that you need to trade.

mainly exchange wallet is for storing the asset which can be used for doing trading and the others asset must be stored to any secured wallet.

[Jami95 38]

Wallet is where one keeps his crypto coins safe and on the other hand exchange is to buy crypto with money or vice versa. 

[Razan alikac 1899]

Thank you my friend for the good information, and it shows the difference between the wallet and the stock exchange, it is a useful post for us

[vynz 540]

A wallet is a software program that stores your cryptocurrency balance and interacts with various blockchain to send and receive digital currency; it is safe and secure for the invaders like hackers to steal your balance. While the exchange in crypto may have different options and functions, some of them are made for traders, while the other cryptocurrency is made to prompt crypto-fiat exchange. Crypto exchanges that are designed for regular traders allow you to buy crypto and sell them with lower commission fees than on crypto-to-fiat exchanges. Also, trading platforms charge fees for withdrawing money from the account. 

[AmjadBydn 0]

Thank you my friend for the good information ! and it shows the difference between the wallet and the stock exchange ! it is a useful post for us ! 

[MohammadMohsin 569]

Thanks for sharing this with us. Cause many beginners don't really know the difference between wallets and exchange. 

[Ali_hmwi 966]

On 10/14/2019 at 10:46 PM, 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.

Thanks for this great post, for me i really like exchange wallet i like the speed movement for convert. Best 👍💯.

Edited February 9, 2020 by Ali_hmwi

[ArsalMajeed 178]

Yes ofcource a wallet simply stores funds but an exchange can also be used for Inchange or conversion of currencies as well as storing them for later use.