How our Ethereum calculator works
The Ethereum calculator works in a similar way to other conversion tools. It takes the value of a currency, the exchange rate and the amount of currency you want and then performs a simple multiplication. The equation would be:
value in USD = exchange rate x amount of Ethereum.
We use the most relevant information to feed into our Ethereum calculator to make sure the Ethereum converter gives you the most relevant price. The prices are drawn from exchange rates that are accurate moment to moment. This means you can be sure of getting the most accurate price with our Ethereum calculator.
To use the Ethereum calculator simply put in the number of Ethereum you possess or wish to possess and the world currency you would use. It will then tell you how much cash you can convert into Ethereum. The process then can work in reverse, with the world currency converted into Ethereum.
What does converting Ethereum mean?
Ethereum, like Bitcoin, is one of the few cryptocurrencies that you can directly convert into world currencies. These world currencies are also known as fiat currencies. Fiat currency basically means a legal tender that is backed by a government, such as USD, GBO or the Euro. This means that converting Ethereum is similar to buying and selling the tokens in exchange for cash.
The easiest way to do this is to store you tokens in your MyEtherWallet and then from there go to an exchange where you can get your cash – or your Bitcoin – or other altcoins of your choice. Be aware, even though it is possible to exchange from Ether to other cryptocurrencies – our Ethereum calculator works to translate the cost of your Ether into fiat currency. Also, you will need to attach a credit card or a bank account to your wallet to gain access to your money.
How can you convert your Ethereum?
It is likely that your optimum mode of converting Ethereum would be an exchange site. There any many sites that work as Ethereum convertors. When looking for a place to convert your Ethereum, you need to learn the lesson of the collapse of some exchanges. The site you choose needs to have an almost cold war like paranoia about security and hacking. With this caution you should be safe to convert your tokens into money you can spend anywhere.
Coinbase: Coinbase is one of the most well-known exchange sites on the internet. It is known for its ease of buying and selling Ethereum – which is essentially the process by which you convert your Ether into fiat currency. Coinbase is an American company founded in 2012 in San Francisco – though with a bit of research you will find that its history is much more developed than this. Coinbase require you to attach a bank account to the site in order to exchange Ethereum for cash. Equally, to convert world currency into Ethereum will require a connection to your bank. The good news about Coinbase is its reputation for safety – and the fact that your investment is insured against hacking and breaches anyway.
Gemini.com: Sold on the tagline “Security. Liquidity. Trust.” you can see that this exchange site believes in being a trusted custodian of your digital assets. This is a New York trust company and is regulated by the New York State department of Financial Services. This should give you the added confidence to convert your Ethereum using this exchange site. The site also makes sure the majority of digital assets are stored offline in Cold Storage – meaning only a limited amount of your funds are potentially at risk at any one time.
Kraken.com: this monster of a site – forgive the pun – is another exchange site that allows the conversion of Ethereum into cash. To be fair, the pun on the exchange site is worse, as they claim they can help you “sail the high seas of success.” Security is impeccable on the site and the trading engine is fast. Like other exchange sites, it encrypted cold storage – which keeps the Ether offline – and is legally compliant.
It is also possible to sell your Ethereum in person. If this sounds odd as it is a digital currency – then also consider how odd it is that some people store their Ether in paper wallets. What does this mean? It means writing down the keys that access the tokens onto paper and storing these offline in an actual paper wallet. To convert your Ether this way you would literally meet the person in a coffee shop or other meeting place and exchange the code for money in person. It is a great way to avoid being hacked!
You can also use a Ethereum converter, where you put in the amount of Ether you want and it calculates your price and then you simply click buy, or convert or complete.
When should you convert your Ethereum?
When to convert world currency into Ethereum or your Ether into currency is a question for the stars! Well, it is a question for those who know about trends in cryptocurrency and can give you sound advice on when to buy and sell. With the volatility of altcoins and the changing ecosystem in which they are traded, those who believe themselves to be trusted advisors should be considered stars.
Ether has the potential to appreciate and depreciate as do all cryptocurrencies. There has been a notable price rise recently but this has been up and down. Be aware, unlike Bitcoin that wants to be an alternative to money, Ethereum has value outside of being a digital currency. Therefore, investing in Ether – or converting your world currency into Ether – might not just be a matter of buying and selling coins but also investing in the technologies industrial value.