This document summarizes a study on cation exchange reactions in ionic nanocrystals. The study found that complete and fully reversible cation exchange can occur rapidly between CdSe nanocrystals and Ag+ ions. Specifically, mixing CdSe nanocrystals with AgNO3 solution resulted in rapid color change and fluorescence disappearance as the crystals transformed to Ag2Se. Subsequently, mixing the Ag2Se crystals with excess Cd(NO3)2 led to recovery of the original CdSe crystals over 1 minute. X-ray diffraction and other characterization confirmed the transformations while also showing the crystals preserved their original size and shape through the reactions. The ability to perform such reversible cation exchanges at room temperature provides opportunities to modify nanocry