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I am not sure if this is the right SE site to ask this question. If it is not please suggest a forum.

  1. If I have go ethereum and ethereum classic nodes & their respective wallets running on my server, is it possible for me to transfer/ convert one cryptocurrency to another?
  2. How does exchanges like Bittrex allow sell and buy different coins?
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If I have go ethereum and ethereum classic nodes & their respective wallets running on my server, is it possible for me to transfer/ convert one cryptocurrency to another?

No, that's not possible. Just as it's not possible to change - or, specifically, transmute - silver into gold.

How does exchanges like bitrex allow sell and buy different coins?

Two possible ways:

  • The exchanges themselves own a certain amount of each asset. They create currency pairs for the assets they hold and are willing to trade in. They will buy a certain amount of your X for given amount of their Y.
  • They provide a market for the trades between X and Y to occur between different people.
  • That makes sense. So the exchange will have one wallet for each coin. And the people will just have different addresses within each for each coin. – SMJ Mar 2 '18 at 14:22
  • Yep, that's correct. When you create an account with an exchange you'll be given a unique deposit address for each coin. In the background your money might go into one big pot along with everyone else's money (for a given coin), but the internal accounting of the exchange will ensure they know how much should be associated with your account. – Richard Horrocks Mar 2 '18 at 14:31

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