Difference between a Bitcoin wallet and Bitcoin exchange site?


#1

still newbie here and learning as best as I can get.


#2

The main difference is that with the core wallet you have control over your private keys = you really own the BTG in that wallet, but you need to properly backup your private keys because if you lose them and your PC get toasted you are basically screwed.
On the other hand, an exchange holds your keys and you need to trust them to secure your BTG, and as you don’t have your private keys with an exchange you don’t physically own your coins, what you have is the promise of the exchange to give you access to your funds, it is easy to use exchange but if it is hacked you are screwed.