Ethereum units
Ether (ETH) is the most well-known unit of Ethereum and is typically used for larger transactions. For smaller amounts, there are sub-units such as Finney, Szabo, and Gwei. These units make it easier to represent small Ethereum values—for example, when calculating gas fees.
Overview and explanation of Ethereum units
Ether (ETH): ETH is the base unit of the Ethereum cryptocurrency. When people refer to “Ethereum,” they usually mean this unit.
Finney: One Finney equals 0.001 Ether (ETH), or one-thousandth of an Ether.
Szabo: One Szabo equals 0.000001 Ether (ETH), or one-millionth of an Ether.
Gwei (Gigawei): One Gwei equals 0.000000001 Ether (ETH), or one-billionth of an Ether. Gwei is a very small unit, commonly used to express gas fees on the Ethereum network.
Conversion table for Ethereum units
| Unit | Ether (ETH) | Description |
|---|---|---|
| Ether (ETH) | 1 | Base unit of the Ethereum network |
| Finney | 0.001 | 1 Finney is 1/1,000 of an Ether |
| Szabo | 0.000001 | 1 Szabo is 1/1,000,000 of an Ether |
| Gwei | 0.000000001 | 1 Gwei is 1/1,000,000,000 of an Ether |
Finney and Szabo are rarely used today, whereas Gwei has become the standard unit for calculating transaction (gas) fees on Ethereum.
What are gas fees on Ethereum?
In the Ethereum network, “gas” refers to the unit of computational effort required to perform transactions or execute smart contracts. Each operation consumes a specific amount of gas, with more complex actions requiring more gas.
Gas prices—usually denominated in Gwei—fluctuate depending on network demand.
Higher gas prices typically result in faster processing by validators. These fees serve as incentives for validators in Ethereum’s proof-of-stake system and help protect the network from spam and congestion.
Ethereum explained in a nutshell
Ethereum is the leading platform for decentralized applications and DeFi. At its core is the Ethereum Virtual Machine (EVM), which enables so-called smart contracts to run automatically without any central authority. Transactions are validated in a decentralized way by a global network of validators.
Where can I buy Ethereum for the lowest price?
OKX offers the most Ethereum for 100 US dollar (USD) with 0.05470 ETH. Our calculator compares Ethereum prices from some of the most popular crypto exchanges, such as OKX, Kraken, Crypto.com and Bybit. ().