basically a exturnal wasre gate is usually bigger than most internal typpes more easily controlling boost and in some cases reducing backpresure it also removes the turbulence and backpressure caused by internal W/Gs as they murge in directly at turbine outlet in most cases. in my opinion exturnal wastegate allso sound cool when vented with screamer pipes. hp thats helpful . BOV are not realy anything to do with wastegates there purpose is to bypass excess pressure when throtle is clossed quickly and turbo still spinning. mainly to protect turbo from damage to thrust bearings and even compressor wheels. its highly recomended 2 use BOV for most turbo applications