A cryptocurrency exchange refers to a website or service where one can sell or buy digital currency or convert fiat currency into digital currency. Market rates in crypto exchanges fluctuate similarly to stock exchanges. Exchanges have wallets, mostly web-hosted wallets on a website. To access your wallet, you need to create an exchange account and sign in. Wallet : The decision to store bitcoins in an exchange or wallet is purely a personal choice. However, if the exchange is hacked or the owners traded the currency and fled, storing your bitcoins on the exchange could result in you losing all your digital currency. The only benefit you get from storing your currency on an exchange is a convenient experience as you never have to worry about backing up or securing your platform.
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