Is Link exchange allowed by google?

[manim]

I heard that google will penalize the site which are joined in Link exchange program.

Is it true?

[mintdesignnz]

hmmm are you sure about it? Google penalizes paid links.. that is what you should avoid.

[stevemack]

there might be a chance of penalizing when you go with Paid Links. Google loves Natural Links.. more natural.. the more advantage the website will be.

[web.hostingmadnes]

I am not sure but Google can be penalize link exchange.Google spider instantly crawl which are natural link,paid and exchange link. I would like to say always do natural links!