You are not legally required to exchange wedding rings. However, it is a tradition since early times to honour the commitment you are making to each other.  The ring has come to symbolise the never ending nature of love.  Nowadays many men are choosing not to wear a wedding ring due to occupational health and safety concerns. Some may exchange a ring on the day and wear it only on social occasions.  If only one ring is being exchanged, it can be acknowledged that this ring is the symbol for them both of their shared love and commitment.