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I was hoping someone could explain to me in simple terms what a teleconverter/extender is used for. How do I know if need one? In what situations should I be using one?

I kind of have an idea of what they're for but I'm not 100% sure.

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A teleconverter in simple terms extends the focal length of your lens to give you more zoom. If for example you add a 2x Teleconverter to a 200mm lens, it becomes a 400mm lens. Great if you occasionally need a longer lens but can't justify the cost. I have used mine for traveling with a lighter kit, for occasional use.

Another example would be to use a 1.5x Tele-Converter on a 100mm lens to make it 150mm.

There are always trade offs however. Because you are placing extra glass elements between the camera and the lens this would usually degrade the quality of the image (softer image) and lose up to a couple stops of light (aperture) so if the maximum aperture of your lens is f4, with a 2x converter it would become f8

Hope this helps

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Cheers..... thanks Daniel.