exchange vs substitute

exchange and substitute both are nouns.

Word	Noun	Adjective	Verb	Adverb
exchange	Yes	No	Yes	No
substitute	Yes	Yes	Yes	No

As verbs, substitute is a hyponym of exchange; that is, substitute is a word with a more specific, narrower meaning than exchange:

Other hyponyms of exchange include sell, cash, cash in, ransom, redeem, redeem, fill in, stand in, sub, swap, switch, swop, trade, barter, trade, trade in.

As verbs, exchange and substitute are synonyms defined as:

exchange and substitute: put in the place of another; switch seemingly equivalent items

Other synonyms of exchange include interchange, replace.

exchange (noun)	substitute (noun)
reciprocal transfer of equivalent sums of money (especially the currencies of different countries)	a person or thing that takes or can take the place of another
the act of putting one thing or person in the place of another:	someone who takes the place of another (as when things get dangerous or difficult)
the act of changing one thing for another thing	an athlete who plays only when a starter on the team is replaced
the act of giving something in return for something received
(chess) the capture by both players (usually on consecutive moves) of pieces of equal value
(chess) gaining (or losing) a rook in return for a knight or bishop
(sports) an unbroken sequence of several successive strokes
a workplace for buying and selling; open only to members
a workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
a mutual expression of views (especially an unpleasant one)
chemical process in which one atom or ion or group changes places with another

exchange (adjective)	substitute (adjective)
	artificial and inferior
	serving or used in place of another
	capable of substituting in any of several positions on a team

exchange (verb)	substitute (verb)
exchange or replace with another, usually of the same kind or category	put in the place of another; switch seemingly equivalent items
change over, change around, as to a new order or sequence	be a substitute
exchange a penalty for a less severe one	act as a substitute
give to, and receive from, one another
put in the place of another; switch seemingly equivalent items
hand over one and receive another, approximately equivalent