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You can convert into Bitcoin (BTC) or Bits, the two most popular scales of the moment. Reminder: 1BTC = 1.000.000 BITS. You can convert into Euro or Dollar. (but also Real, Yuan, Pound, Rupee). It is possible to know the balance of an address by entering it in one of the fields.
We measure transfer speeds in bits because that is how data is transferred, bit by bit. Depending on the tech, it may take more or less bits to travel the data over the link. For example, PCI Express 2.0 uses 8b/10b encoding to transfer data; this means for every byte you transfer over the link, 10 bits get transferred. To convert a speed from Mb/s to MB/s you would simply divide the number by 8 (8 bits in a byte). This does not factor in overhead.