Bitcoin Exchange is the online website to handle Bitcoin trading, whereas Bitcoin wallet is the best service to store your Bitcoins in a secured manner. Till now, I didn't use any wallets, but according to others opinion, Coinbase is the best one. Buying of bitcoins and using of wallets is simple. Find the best Bitcoin Exchange in the online and trade a currency for bitcoins. After that, store your bitcoins in your wallet. Bitcoin exchange is simple than other existing methods.