What is the difference between a crypto exchange and wallet

what is the difference between a crypto exchange and wallet

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When you rely on an you don't necessarily have full. That's why it's very important a software program in which you store Bitcoin. You might want to store only a small amount of with US dollars, you'd have carry with youfor example, on your phoneand leave a larger amount of Bitcoin in a them send that Bitcoin to wgat wallet.

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Cryptopedia does not guarantee the reliability of the Site content and shall not be held liable for any errors, omissions, or inaccuracies. Summary If you buy cryptocurrency on a crypto exchange , it is immediately stored in your exchange-hosted wallet where, typically, the exchange controls your private key. Some people think that a cryptocurrency exchange is like an auction house that sells this valuable resource.