What is the difference between link building and link exchange?
Link exchange is also a method of link building.
If you are doing link exchange then make sure that it is with relevant sites only.. however, if you do a lot of link exchange then it is not good.. but a few link exchanges are ok..
To summarize what fisicx said:
Link exchange = BAD
Link building = GOOD, assuming that it is based on attracting links due to the quality of your content
Link Exchange is the part of Link Building. We can Build Links using different ways. here are 1 way link and 2 way link. Link Exchange is mostly 2 way Link. We get Links only if we place other Link in our Sites. Link Exchange can also we said as Reciprocal Links. It is on of the techniques used in Seo to bring web sites to top of Search Engine Rankings.