A simple tool with an honest use
Most converters hide a live price you can't question. Entering your own price lets you model exact entries and targets. Then size the trade with the position size calculator.
Conversion rates lie a little
The spot rate you see quoted is the mid-market price — the midpoint between the best bid and ask. You never actually trade at it. Converting $1,000 of BTC to ETH on an exchange, you cross the spread twice (sell BTC, buy ETH) and pay two sets of fees. Real-world cost: 0.3–0.8% on liquid pairs, worse on thin ones.
Instant-convert features on exchanges bundle those costs into the rate they show you. Compare Binance Convert's quoted rate against the spot ticker and you'll typically find 0.1–0.5% baked in. Convenient, not free.
For any conversion over a few thousand dollars, doing it as two explicit limit orders on the spot book usually beats the convert button. For small amounts, the convenience wins — just know the price of it.