Explain crypto currencies exchanges Like I'm Five

Hi everyone,

I was exploring cryptocurrencies and I am wondering:

  • How do you trade a crypto currency X to another one? (technically, not asking for a link)
  • When it cames to ICO, what does the organization is allowed to do with the money earned when a user buy a token? I mean: can they use it as funds for their company or should they keep it in order to refund users if they want to go back to common currency? This may sound dumb but I'm struggling to find clear documentation about ICO..
  • How can a company link its ICO with another cryptocurrency? If they want to allow their users to buy their token in Bitcoin, how can it link it to Bitcoin's chain?

Thank you for your time and have a fantastic day!

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