Today, people look for ways to increase their income. Different investment vehicles are presented to attract people’s attention. Cryptocurrency world, like buying/selling gold. An investment tool that has been in the investment market for a long time and is getting more and more popular today is currency exchange. People buy/sell foreign currency both for investment purposes and to use them in their visits to different countries.
In all parts of the world, people buy and sell foreign currency for different purposes. The places where people buy and sell foreign currency have shifted to the digital environment rather than exchange offices. They can buy and sell many currencies around the world from a single application.
These applications that people use generally use services that provide Currency Exchange API service. Services that provide Currency Exchange API service quickly show the purchase/sale value and cost of the desired currency in applications.
Let’s take a look at what needs to be known for a service providing a Currency Exchange API that is expected to be integrated into the application.
Things to know about the Currency Exchange API
Let’s say you have a currency trading application that includes currencies from around the world on an application.
You should integrate a service that provides Currency Exchange API service to your project. Through this service, you should instantly show the current exchange rate information, costs, etc. to the user.
First of all, you should make sure that your preferred Currency Exchange API returns correct and consistent values. You should not integrate an unknown and untrusted Currency Exchange API into your project.
Your preferred Currency Exchange API service should respond quickly. It will be a bad experience for a user who enters your application to trade foreign currency and wait for a long time on loading. Increasing waiting times will reduce your organic traffic and transaction volume.
The number of currencies supported by the Currency Exchange API service you integrate into your project is very important. The United Nations officially recognizes approximately 180 currencies worldwide. Although the total number of independent countries is more than 195 with many dependent territories, the total number of currencies is less than that. Because some countries use foreign currency because they do not have their own currency. Depending on this information, the Currency Exchange API service is expected to contain the information of official currencies in the world.
One of the services provided by the Currency Exchange API service is its ability to present historical data. Today, people who use foreign exchange trading as an investment tool need historical data to analyze and report. Therefore, the Currency Exchange API you prefer should contain historical data.
Finally, the developer-friendly approach of this service that you will integrate into your project will save you time costs. Services that can be quickly integrated into your project and backed by powerful documentation will help you drive organic traffic to your project.
You can increase customer satisfaction and attract organic traffic to your application with an Exchange API that you will integrate into a foreign exchange trading application with international users.