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The easiest way to imagine an exchange wallet is in the form of a digital wallet. This wallet allows you to access your bitcoins. Here you can act in a similar way to online banking, but you can also leave your Bitcoins where they are. Another overlap can be found in security, similar to the bank, your bitcoins in the wallet are protected with a password. One of the differences is that each wallet is anonymous and no personal information is stored, which is a huge benefit. Each "digital wallet" consists of a unique combination of characters, which represents your ID. However, if you lose your password, you cannot reset it and you will never have access to this wallet again.
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