Difference Bitcoin Exchange and Bitcoin Wallet

Bitcoin Exchange and Bitcoin Wallet -  For those of you who have become accustomed to dwelling in the world and Blockchain, Bitcoin will surely smile when hearing the question "what differentiates between Bursa Bitcoin (or Bitcoin Exchange) with the wallet Bitcoin (Bitcoin Wallet)?" in relation to both the obvious different.

But you'd be surprised by how the number of people out there who do not yet know very well about both those things and sometimes think of it as an arbitrator. This article was created specifically to describe in more detail what differentiates between a stock and a Bitcoin wallet.

Difference Bitcoin Exchange and Bitcoin Wallet

Bitcoin Exchange

Bitcoin Exchange, or Exchange Bitcoin, is the company that provides a special platform that can be used by people from different countries to exchange currency with Bitcoin fiat (such as u.s. dollars, euros, Yuan, dollars, etc) or with other cryptocurrency. For example, Bitcoin.co.id is a Bitcoin Exchange in Indonesia which you can use as a place to trade Your Bitcoin with Rupiah or exchanging them for free to other cryptocurrency are available in the market such as Ethereum, Litecoin, Dogecoin, DASH, Ripple, and various other cryptocurrency.

Bitcoin Exchange usually provides a wallet temporarily (temporary wallet) to accommodate the balance of the fiat currency or cryptocurrency that will be traded by the user. For example, Bitcoin.co.id provides temporary wallet to hold balances Bitcoin, Rupiah and other cryptocurrency that are supported by the market to facilitate its users in trading.

When you want to sell Rupiah to Bitcoin.co.id in Bitcoin, you must first move the Bitcoin from your personal wallet (or it could be from Exchange as well as other companies such as enterprise cloud mining, faucet, and so on) to the wallet temporary available in Your Bitcoin.co.id account. After making the deposit Bitcoin, you will see the balance of Your Bitcoin on Bitcoin.co.id account and from there, you can easily sell them into Rupiah.

Bitcoin Wallet

When the stock exchange was established with the aim of Bitcoin serve the trading process cryptocurrency, Bitcoin wallet, or Bitcoin Wallet, created purely to save or send the Bitcoin only. Bitcoin wallet shape is very diverse with different interfaces. You can see the type-type in the infographic works Cointelegraph following.

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To facilitate the user transaction from a variety of devices, now there are many moving companies as wallet provider, such as Blockchain.info, Copay, and Airbitz. Unlike the Bitcoin Exchange, a moving company as wallet provider does not provide the trading platform, unless the company is Bitcoin also operates as an exchange, for example: Coinbase. When you make a wallet at a site like Blockchain.info, you will get access to a Bitcoin wallet which can only be used to store and transmit the Bitcoin only. You could think of it like a regular wallet you use to store Your paper money which of course can be taken at any time and moved to other places.

But unlike the purses for cash, it's more like Bitcoin wallet book a bank account that records all Your transactions list since the first wallet was made. When You send/receive Bitcoin, how many Bitcoin transacted, and where or where Bitcoin it transacted, all clearly displayed there. More amazingly, you don't need to check Your transaction history only through the site Blockchain.info where you can make a purse only.

Difference Bitcoin Exchange and Bitcoin Wallet

From the above discussion, we can conclude one important point which distinguishes between an Exchange and a Bitcoin Bitcoin Wallet that is the shape of the service provided. You can't sell or buy Your Bitcoin wallet Bitcoin on You, and although you can store Your Bitcoin Wallet while in provided by a Bitcoin Bitcoin wallet, Exchange can give comfort, convenience and extra security without servers are rarely provided by the Exchanger.

When you imagine the Bitcoin as gold, a Bitcoin gold store Exchange is a place where you can sell/buy gold to the Rupiah, while Your Bitcoin wallet can be consider as a personal safe can you make as a place holding gold. The safe level of security you can set yourself as you wish, and only you hold the key to open it without having to rely on anyone. The difference with the gold, ' safe ' Bitcoin can be easily stored in your smartphone and you can take them anywhere to spend.

Thanks to read Difference Bitcoin Exchange and Bitcoin Wallet. Read also Bitcoin Vs Gold Which is a Better for Investation.