5 Facts About Crypto Converters (2024)

A crypto converter is a tool that lets you calculate the price and worth of two or more currencies. Continue reading to read some cool facts about them.

Did you know you can convert the US dollar to Bitcoin (BTC) using crypto converters?

Crypto converters serve very important functions for crypto enthusiasts and investors; their functions can vary from simple to complex.

Either way, they help those within the crypto industry to know live price comparison between two different currencies and allows them to convert from one to another.

Here, you will learn how crypto converters work and some interesting facts that will help you have extensive knowledge about them.

What is a Crypto Converter?

A crypto converter can be as simple as a tool to compare the price of cryptocurrencies and fiat.

However, it can be as complex as a tool that helps you to convert from one cryptocurrency to another or cryptocurrency to fiat using their current price.

Crypto converters that function only as a live price comparison tool are majorly used by traders or those interested in crypto to make easy currency conversions.

In other words, they use this tool to check the amount a particular cryptocurrency is worth when converted to another. Sometimes, the data collected from these crypto converters help to make financial decisions.

Crypto converters that help traders to convert one cryptocurrency to another are a bit complex. First, they can still help check the worth of a cryptocurrency when converted to another.

However, they have an additional function of helping traders to convert from cryptocurrency to another currency. For instance, if a person has about 2 Bitcoins, they can use a crypto converter to change that cryptocurrency from Bitcoin to another cryptocurrency or fiat.

Facts About Crypto Converters

Below, you will discover some interesting facts that will help you to have a clearer understanding of crypto converters and how they work.

1. Crypto Converters Help to Make Financial Decisions

Crypto converters function in a way that helps you check one cryptocurrency’s worth when converted to another cryptocurrency. For instance, it lets you see the amount of Bitcoin you will have when you convert 10 Ethereum to Bitcoin.

Apart from similar cryptocurrencies, you can also check the worth of 243 Ethereum in US dollars, Australian dollars, Euros, Pounds, or other fiat currency.

Information like this helps you decide what to do with your cryptocurrencies and evaluate their worth.

The interesting part is that, with the information from crypto converters, you can decide whether to buy, sell, or convert from another crypto to the other.

2. You Don’t Pay Any Fee

Most cryptocurrency converters don’t need you to pay before you use them; both simple, complex crypto converters.

Especially for a simple crypto converter calculator, you need to input the crypto you have, which can be Bitcoin, and select another crypto. Immediately, the converter will show you the worth of the amount of Bitcoin you have to the currency you selected.

Some examples of simple crypto converter calculators that don’t charge a dime to use their service include Coinstats and others.

For complex crypto converters that allow you to convert cryptocurrencies to another currency, some of them, such as Binance, do not charge users.

3. You can Link a Crypto Converter to Your Crypto Wallet

An interesting fact about crypto converters is that some are built for portfolio management and can be linked to your wallet.

When you link your portfolio with a crypto converter, you can get real-time updates about the price of your cryptocurrencies. You can compare and convert the cryptocurrencies in your portfolio to another with real-time price updates.

4. You can Trade Cryptocurrencies with Crypto Converters

Yes, one thing people omit about crypto converters is you can use them for trading cryptocurrencies.

For instance, if you have Ethereum (ETH) and want to convert to Bitcoin or Litecoin, a crypto converter can help you immediately. Another thing to note is that this does not apply to simple crypto converter calculators; it works only on complex ones.

When you link your crypto wallet to the crypto converter, input the name of the cryptocurrency you want to convert. Let’s say you have Ethereum (ETH); you can select the amount you are converting, the currency you want to convert to, and then continue.

Instead of wasting time on exchanges to complete the complex method of trading cryptocurrencies, you can easily use a crypto converter.

5. You can Convert Numerous Tokens and Currencies

You are not limited to a few cryptocurrencies or fiat currencies when using crypto converters.

For cryptocurrencies, some crypto converters have as many as 500 cryptocurrencies that you can convert to.

Then for fiat, so many crypto converters are not just limited to popular fiat currencies such as Pounds, Euros, the US dollar, etc. They also have several local currencies worldwide, such as the Australian dollar, Naira, Brazilian Real, South African Rand, and many others.

In addition to supporting numerous cryptocurrencies worldwide, crypto converters are available almost everywhere. Some cryptocurrency converters support as many as more than 190 countries worldwide.

Conclusion

Crypto converters are important tools in the crypto industry; it helps you to compare the price of cryptocurrencies, and you can also trade with them.

There support several cryptocurrencies and fiat and can be used almost everywhere in the world, with few exceptions.

Above, we discussed how crypto converters work and some interesting facts you didn’t know about them.