Cryptocurrency Conversion Guide for Beginners
Disclaimer: Cryptocurrency prices are highly volatile. This guide is for educational purposes only. Always do your own research before investing.
Cryptocurrency can be confusing, especially when dealing with small units and conversions. This guide explains the basics of crypto units and how to convert between them.
Bitcoin Units
Bitcoin can be divided into smaller units:
1 Bitcoin (BTC) = 100,000,000 Satoshis
| Unit | Symbol | BTC Value |
|---|---|---|
| Bitcoin | BTC | 1 |
| MilliBitcoin | mBTC | 0.001 |
| MicroBitcoin (bit) | µBTC | 0.000001 |
| Satoshi | sat | 0.00000001 |
The Satoshi (named after Bitcoin's creator, Satoshi Nakamoto) is the smallest unit of Bitcoin.
Ethereum Units
Ethereum has its own unit system:
1 Ether (ETH) = 1,000,000,000 Gwei = 10^18 Wei
| Unit | ETH Value | Common Use |
|---|---|---|
| Ether (ETH) | 1 | Trading, holdings |
| Finney | 0.001 | Rarely used |
| Gwei | 0.000000001 | Gas prices |
| Wei | 10^-18 | Smart contracts |
Why Gwei matters: When you send Ethereum transactions, you pay "gas" fees in Gwei. Understanding this helps you optimize transaction costs.
Converting Crypto to Fiat
To convert cryptocurrency to traditional currency:
Fiat Value = Amount of Crypto × Current Price per Unit
Example: If Bitcoin is $43,000 and you have 0.5 BTC:
0.5 × $43,000 = $21,500
Common Cryptocurrency Symbols
| Cryptocurrency | Symbol |
|---|---|
| Bitcoin | BTC |
| Ethereum | ETH |
| Litecoin | LTC |
| Ripple | XRP |
| Cardano | ADA |
| Solana | SOL |
| Polkadot | DOT |
| Dogecoin | DOGE |
Understanding Market Cap
Market capitalization shows the total value of a cryptocurrency:
Market Cap = Price per Coin × Total Coins in Circulation
This helps compare the relative size of different cryptocurrencies.
Safety Tips
- Never share your private keys or seed phrases with anyone
- Double-check addresses before sending transactions
- Use hardware wallets for large holdings
- Enable 2FA on all exchange accounts
- Beware of scams - if it sounds too good to be true, it is
Where to Check Prices
Popular cryptocurrency tracking sites:
- CoinGecko
- CoinMarketCap
- TradingView
- Your exchange's price feed
Convert Cryptocurrency Values
Use our Cryptocurrency Converter for quick conversions!
