Hallo. There are many diferences between the spanish in Spain and the spanish in Soth America, but basicaly is rthe same.
For example, there are diferences between any verbs and a lot of expresions.

Thes differences in words and meaning
The same with English and American =)

yes tehre are much differences... well alot off diferences!!!
because it.. if you are learning espanish you must know well.. which espanish you are learnign!!! or you will get many conffusions laters.....ok:)

Hi, I'm from Chile (spanish native speaker) and I've been in Spain many times.
Basically are the same. Just 2 letters are pronounced different: "z" and in some cases "c".
In Spain "z" is like "th" in english. Example: think
In Latin America "z" is like "s".
The letter "C" in spanish has two different pronounciation. It depends of the sorrounding letters:

Ca: Ka (same in LA and Spain)
Ce: In LA it sounds like an "S". In Spain it sounds like a "z" (th sound)
Ci: In LA it sounds like an "S". In Spain it sounds like a "z" (th sound)
Co: Ko (same in LA and Spain)
Cu: Ku (same in LA and Spain)

The last part of a conjugated verb is different too. And the personal pronouns (I don't know the expression, but I mean I, you, he, she, we, they)

LA:

I: yo
You: Tú (o Usted if you want to show respect or formality)
He: Él
She: Ella
We: Nosotros
You (plural): Ustedes
They: Ellos

Spain:

I: Yo
You: Vos
He: Él
She: Ella
We: Nosotros
You (plural) Vosotros
They: Ellos

Some verbs conjugation are a little different:

Example: Verb To have (present)

LA

I have: Yo tengo
You have: Tú tienes (o Usted tiene)
He has: Él tiene
She has: Ella tiene
We have: Nosotros tenemos
You have (plural) : Ustedes tienen
They have: Ellos tienen

Spain

I have: Yo tengo
You have: Vos teneis
He has: Él tiene
She has: Ella tiene
We have: Nosotros tenemos
You have (plural): Vosotros teneis
They have: Ellos tienen.

it's like British English and American English.

there are different words, meanings, slang and pronunciation.

To learn Spanish, I wouldn't recommend going to the Caribbean (Puerto Rico, Dominican Republic, etc.)

Your Spanish will come out garbled and missing half the sounds it's supposed to have.