What do you mean by link exchange?

[arindamdutta16]

Link exchange are very most popular and effective link building way. That will improve your website rankings in the search engines. When you receive a link exchange request for exchange relevant links, your best solution is to find a relevant page on your site and link from within the article to your partner website with the anchor text that they requested.

[directoryniche]

Link exchange is a mutual backlink deal where two sites swap URLs to boost SEO juice, authority, and SERP visibility. It's often done via reciprocal links, sometimes masked in content or sidebar widgets.
While it can pass link equity and help crawlability, overdoing it triggers spam signals, devalues your backlink profile, and risks penalties from search engines.