Cryptocurrency Conversion Calculator

Contributor, Benzinga

You can easily denominate your Bitcoin in Ether, USD, Tezos, JPY — any currency you want, fiat or crypto. The almost-$300 billion crypto market cap speaks to the market’s scale.

In addition, you can change your Ripple into USD anytime you want. A connection to liquid assets makes an asset more liquid. You can profit from the inefficiencies that sometimes occur in asset prices — only if you understand how to convert 1 to the other.

Fortunately, the cryptocurrency calculator here will help you see just how much your crypto is worth in your preferred denomination.

First, it’s important to learn how crypto is valued. Not only will it give you leverage in the market today, but it may also expand your understanding of what money is and how you can use it.

How is Cryptocurrency Value Calculated?

The major hurdle for most cryptocurrency critics to get over is how something with no physical presence can have value or be considered money. We’ve been mistakenly driven to believe that money needs some sort of intrinsic value in order to be valuable, but this is not the case. We see this in all kinds of currency, including so-called precious metals.

Gold and diamonds are called precious metals only because access to them is limited in Western society. Gold and diamonds gain the majority of their value only when they are placed in a literal store of value — a jewelry store with high prices and security.

Everyone knows gold watches and diamond rings aren’t cheap. These objects have another store of value — social status. This value has been shown to be constant and stable over time. As a result, gold and diamonds can be exchanged for cash if necessary.

The value of every cryptocurrency is also based on a store of value: 

  • Bitcoin’s value is being one of the nodes that verifies transactions. 
  • Ether’s value is in making sure a smart contract is property executed. 
  • Other crypto holds other stores of value depending on the reason they’re created.

Once you have determined that a cryptocurrency has a store of value, the next step is to figure out how valuable it is. That’s based on the following characteristics:

  • Scarcity: In general, rare things are considered more valuable. Bitcoin holds its value partially because of the knowledge there will only be 21 million coins in circulation.
  • Mobility: Money needs to be easy to transfer from 1 party to another. A non-physical currency certainly beats paper money in this regard.
  • Durability: Money that degrades cannot be used efficiently. Digital currency on a blockchain retains perfect durability as long as there is a system of connected nodes. In the case of a decentralized currency, every single node would need to be eliminated in order for the currency to erode.
  • Utility: Currency must be useful for reliable trade. Because cryptocurrencies are an efficient representation of a process or function, they have a natural utility for anyone who values that function.
  • Divisibility: Crypto has ushered in new levels of divisibility, and with it, new flexibility. It’s safe to say that Bitcoin would have a much lower volume if it weren’t divisible into 100 million satoshis. Crypto has also ushered divisibility into traditional trading platforms. Most upstart platforms like Robinhood and Webull offer fractional shares in stocks as well. 
  • Non-counterfeit ability: Currency must be hard to forge so that its supply cannot be manipulated. Crypto built on cutting-edge blockchain technology is literally impossible to forge, which gives it an edge on paper currency.

Which Crypto Exchange is Best?

The exchange you choose can make a difference in your portfolio value. The crypto market is unregulated, which means that literally anyone can create an exchange for cryptocurrency. Some of these exchanges choose to cooperate with traditional regulatory bodies like the SEC, centralizing their operations and requiring users to identify themselves. These exchanges usually have lower fees, higher liquidity and faster execution than decentralized exchanges (DEXs).

A DEX offers you a relatively high degree of anonymity and some offer full anonymity. The disadvantage is that users have no recourse if a trader cheats them.

The exchange that is best for you depends on the feature set you want. Here are some of the largest exchanges to inspire you.

get started securely through Webull’s website
Best For
Low Minimums
N/A
1 Minute Review

Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For
  • Active traders
  • Intermediate traders
Pros
  • No charges to open and maintain an account
  • No account maintenance fees or software platform fees
  • Intuitive trading platform with technical and fundamental analysis tools
Cons
  • Only offers 14 coins
get started securely through Exodus Wallet’s website
Best For
Staking Crypto + Earning Rewards
N/A
1 Minute Review

Founded in 2015, Exodus is a multiasset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and more across an industry-leading 10,000-plus asset pairs from a beautiful, easy-to-use wallet. The noncustodial functionality is encrypted locally on users’ own devices, ensuring privacy, security and complete control over their wealth. Exodus is on a mission to empower half the world to exit the traditional finance system by 2030.

Best For
  • Newcomers to the cryptocurrency world
  • Ease of use
  • Trezor integration
Pros
  • Free
  • Huge selection of cryptocurrencies
  • Excellent 24/7 customer support
  • No personal info needed
Cons
  • FTX app not available on the mobile app
get started securely through SoFi’s website
Best For
Beginners
N/A
1 Minute Review

SoFi takes a modern approach to personal finance. It recently created buzz with the release of SoFi Crypto, a way to trade cryptocurrency on the app. The platform allows investors to familiarize themselves with crypto. It offers a high level of security, great customer support and an intuitive interface. However, it does have shortcomings with the number of cryptos offered and geographic restrictions.

Best For
  • Beginners
  • Centralization of your money
Pros
  • Charges low or no fees for some functions within the interface.
  • Relies on Coinbase, a very secure platform, to process transactions.
  • Presents a low barrier of entry — you only need $10 to start trading.
Cons
  • Currently only offers 28 coins.
get started securely through eToro’s website
Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.
Best For
Copy Trading
N/A
1 Minute Review

eToro is headquartered in Cyprus, England and Israel. A major eToro plus is its social trading operations, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its underwhelming research and customer service features.

Best For
  • Investors looking to CopyTrade other traders
  • Simple user interface
Pros
  • Several major cryptocurrencies and altcoins
  • Expansive network of social trading features
  • Large client base for new traders to imitate
Cons
  • Only 29 coins available
Invest In Crypto securely through Gemini Crypto’s website
Best For
New Investors
N/A
1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For
  • New investors looking for a simple mobile and web app
  • Day traders looking to use technical analysis tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their cryptos
Pros
  • Easy and quick signups — can get started in as little as a 5 minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts
Cons
  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app
earn free crypto securely through Coinbase’s website
Best For
Coinbase Learn
N/A
1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For
  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros
  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
  • Higher fees than competitors

Convert Currency into Value

Crypto is valuable to different people for different reasons. You may not value crypto as a technical breakthrough but major coins are almost as useful as fiat currency in mainstream commerce. You may derive value from smart contracts and investing anonymously in cannabis legalization efforts, which will affect your investment decisions. Learn to use conversion rates and arbitrage to increase your portfolio’s total value and you’ll have more value to trade when the time comes.

The Crypto Rocketship: Weekly Newsletter
  • Exclusive Crypto Airdrops
  • Altcoin of the Week
  • Insider Interviews
  • News & Show Highlights
  • Completely FREE