The crypto exchange allows the investor to exchange one cryptocurrency for another, the buying and selling of coins, and the exchange of fiat money into crypto. Crypto exchanges set the rate of the currencies — both coins and tokens much like how the stock exchange works. Investors can keep their crypto on the exchange but it is generally more secure to keep your own crypto wallet.
A crypto wallet is a place to store, send and receive cryptocurrencies which is generally more secure as it often uses two-factor authentication.
Where can I buy cryptocurrency in Australia?
Cryptocurrency exchanges are the interface between fiat currencies such as the Aussie or US dollar and a selection of cryptocurrencies such as Bitcoin, Ethereum or Ripple.