Converting from Celsius to Fahrenheit and vice versa
I'm not excited about the repetition in this sequence:

 if(type!='c' &amp;&amp; type!='C' &amp;&amp; type!='f' &amp;&amp; type!='F')
    {
         System.out.println("Error! You've entered an invalid conversion type!");
         System.out.println("Please enter a valid selection (Type C for celsius and F for fahrenheit");
         type = scan.next().charAt(0);
    }
 if (type == 'F' || type =='f')
    {
         result = fahrenheitToCelsius(degree);
         System.out.println("The conversion of "+ degree+"°F "+ "to Celsius is: " + result + "°C");

    }
 if (type == 'C' || type =='c')
    {
         result = celsiusToFahrenheit(degree);
         System.out.println("The conversion of "+ degree+"°C "+ "to Fahrenheit is: " + result + "°F");
    }


I think I'd prefer:

if (type == 'c' || type == 'C')
     // ...
else if (type == 'f' || type == 'F')
     // ...
else 
    // Error


Although it conflicts somewhat with the preceding, I'm also less than excited about your error handling. You check for a valid input ([cCfF]), and get the next character of input if the first is invalid, but then you don't check whether that's valid or not. I'd rather do something like:

system.out.println("Please enter the conversion (C or F)");
do { 
    type = scan.next().charAt(0);
} while (type != 'c' &amp;&amp; type != 'C' &amp;&amp; type != 'f' &amp;&amp; type != 'F');


I'd also consider using a case statement instead of if statements:

switch (type) { 
    case 'F':
    case 'f':
        result = fahrenheitToCelsius(degree);
        break;
    case 'c':
    case 'C':
         result = celsiusToFahrenheit(degree);
         break;
    default:
         // handle error
}


I'm also a little less than excited about the wording you used. It's not immediately apparent (at least to me) that: For Celsius, type 'C'. For Fahrenheit, type 'F' means that "C" of "F" designates the type of the input rather than the type of the intended result.

If at all possible, I'd prefer to support command line input. Something like "convert 10c" seems a lot easier to use (and script, etc.) than having to read and respond to a couple of prompts to tell it what I want.