Explain the differences between covalent compounds and ionic compounds.

Hint:
There are different types by which compounds could be formed, depending on the charge which the individual atoms are carrying, the electrons, or the tendency to attract the shared pair of electrons, etc.
When atoms lose electrons, it gains a positive charge and is called a cation, similarly when an atom gains an electron it gains a negative charge and is called an anion.

Complete step by step answer:
-Covalent compounds: Compounds that are formed due to sharing of electron pairs between atoms. The electron pairs are known as bond pairs or shared pairs of electrons.
For example – water, ammonia etc.
-Covalent compounds have directional nature this means that atoms are bonded in specific orientation. Due to directional nature molecules have a definite shape like linear shape of carbon dioxide and bent shape of water molecule.
-Covalent compounds are bad conductors of heat and electricity. They are not dissolved in the polar solvents like water because of the rule “like dissolves like”. They have low melting and boiling points.
-Ionic compounds: So, if we talk about the ionic compounds they are formed by the gain or loss of electrons. The electrons are completely transferred from one atom to another so as to acquire stable configuration. The compounds formed are called electrovalent compounds.
For example: $NaCl$ is an ionic compound
-The arrangement of positive and negative ions in the solid is also called a lattice.
-Ionic compounds have high melting and boiling points as compared to covalent compounds because ions are held together by strong electrostatic forces of attraction. They are generally soluble in water and are good conductors of electricity.as compared to covalent compounds. Ionic compounds are not directional in nature. Each ion is surrounded by oppositely charged ions in the crystal lattice

Note:Covalent compounds are generally the compound which share their electrons between two atoms. Whereas in case of ionic compounds the attraction between positive and negative charges between the ions result in bond formation.