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I am wondering if "for" can mean the same thing as "in exchange of". The reason I am thinking "for" may be wrong is that "for" is a much more general term and can be used in many ways and for some reason it sounds odd to me in some sentences.

Here's an example:

You convinced your friend to do something crazy for monetary compensation.

"For" sounds weird in this sentence, whereas "in exchange of" sounds ok.

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  • I have rolled back the edit you made to your question. By editing it, you invalidated both existing answers. At first, I was tempted to downvote one or both because it looked like they hadn't answered your question—but then I saw you edited your question after the answers had been given. Please don't make such edits. May 11 '19 at 12:05
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In fact,

You convinced your friend to do something crazy for monetary compensation

is perfectly correct, if slightly awkward, while

You convinced your friend to do something crazy in exchange of monetary compensation

is simply incorrect.

One could write:

You convinced your friend to do something crazy in exchange for monetary compensation

but the simplest and most natural form is:

You convinced your friend to do something crazy for money.

The word "for" has many uses. In constructions like "{something} for {another thing}" it may indicate an exchange, or a substitution.

"in exchange of" is not a usual phrase. "in exchange for" is much more common. In fact This google Ngram suggests that "in exchange of" effectively never occurs, and I cannot think of a sentence where it would be correct and natural.

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"We don't say "in exchange of". Did you mean "in exchange for"? If so, then you can shorten it to "for" in expressions like these: I work for money; I work in exchange for money; I sing for my supper; I sing in exchange for my supper.

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