The Benefits of Using an API to Check Exchange Rates

The Benefits of Using an API to Check Exchange Rates

Today, many services are provided to facilitate human life in digital environments. While the number of these services is increasing, human life continues to be facilitated, especially in financial services. Financial services have a very common usage network by people today.

The most frequently preferred transaction in financial services is currency exchange. Currency exchange offered to people by finance applications has saved people from a great deal of trouble. Nowadays, people can trade hundreds of currencies while eating or waiting in line through a single application.

Finance applications need to provide uninterrupted, fast, and accurate currency data while providing this service to people. There are many ways to achieve this in financial applications. Among these ways, the most popular one today is the use of the free currency exchange rate API. In this article, we will explain why the currency exchange rates API is the most popular way and we will do an integration. Let’s get started then.

Why currency exchange rates API is popular

Currency exchange rate API forms the basis of financial applications today. Currency data presented to users in finance applications is provided by currency exchange APIs.

Currency exchange APIs are obliged to provide the most up-to-date free currency api data they support to the applications. The accuracy of the data it provides is very important. Therefore, the accuracy of the data provided is the responsibility of the currency exchange APIs.

There are many benefits to using Currency exchange APIs in applications. First of all, there is no need to make any development related to currency exchange on the application side. If currency data is needed on the application side, a request is made to the currency exchange APIs and the currency data is obtained in the most up-to-date way.

Another popular advantage is the currency number supported by currency exchange APIs. Currency exchange APIs today generally support more than 100 official currencies around the world. Applications also allow their users to trade hundreds of currencies with a single application.

The main reason why various currency exchange rate APIs are preferred by finance applications is the historical data service. Some currency exchange APIs provide historical data for currencies. In this way, it tries to provide all kinds of analyzes to its users with historical data so that they can shape their investments in applications.

Fixer API is the currency exchange API preferred by many applications and developers, especially finance applications. It has been developed to meet almost anything a developer and application may need.

It supports 170 currencies. It obtains currency information from official financial institutions and updates its data every 60 seconds. In this way, it provides its customers with the most up-to-date data. It also provides historical data of currencies up to 1999.

Currency exchange APIs are frequently used by applications. Let’s integrate the Fixer API, which is the most popular currency exchange API today, into the Nodejs application.

Integration Fixer API to Nodejs

Before we integrate the Fixer API into the application, we need to obtain an API key. We choose one of the many flexible and affordable packages of Fixer API, including the free package, and sign up.

After obtaining the API key, we will create a Nodejs application. Then we paste the following codes into our application.

var request = require('request');
var options = {
  'method': 'GET',
  'url': 'https://data.fixer.io/api/latest?access_key=c05*****ff',
  'headers': {
  }
};
request(options, function (error, response) {
  if (error) throw new Error(error);
  console.log(response.body);
});

When this code runs, the following information will be printed on the console of the application.

{
  "success": true,
  "timestamp": 1666682343,
  "base": "EUR",
  "date": "2022-10-25",
  "rates": {
    "AED": 3.621377,
    "AFN": 85.374344,
    "ALL": 116.853552,
    "AMD": 395.763462,
    "ANG": 1.764208,
    "AOA": 449.01181,
    "ARS": 152.485578,
    "AUD": 1.55921,
    "AWG": 1.776683,
    "AZN": 1.68287,
    "BAM": 1.94908,
    "BBD": 1.976435,
    "BDT": 99.559908,
    "BGN": 1.95171,
    "BHD": 0.371823,
    "BIF": 2023.701279,
    "BMD": 0.985951,
    "BND": 1.392563,
    "BOB": 6.763976,
    "BRL": 5.232933,
    "BSD": 0.9789,
    "BTC": 5.1082093e-5,
    "BTN": 80.998918,
    "BWP": 13.192581,
    "BYN": 2.482453,
    "BYR": 19324.63167,
    "BZD": 1.973047,
    "CAD": 1.352004,
    "CDF": 1996.549805,
    "CHF": 0.98842,
    "CLF": 0.035258,
    "CLP": 972.886841,
    "CNY": 7.203649,
    "COP": 4919.893471,
    "CRC": 608.41918,
    "CUC": 0.985951,
    "CUP": 26.127691,
    "CVE": 109.885574,
    "CZK": 24.471369,
    "DJF": 174.264744,
    "DKK": 7.438731,
    "DOP": 52.786269,
    "DZD": 138.281501,
    "EGP": 19.422236,
    "ERN": 14.789259,
    "ETB": 51.832028,
    "EUR": 1,
    "FJD": 2.278187,
    "FKP": 0.870126,
    "GBP": 0.873715,
    "GEL": 2.72111,
    "GGP": 0.870126,
    "GHS": 13.704518,
    "GIP": 0.870126,
    "GMD": 57.184753,
    "GNF": 8444.669964,
    [...]
  }
}

When we look at the response from Fixer API, we see that we have obtained 170 currency data corresponding to Euro currency in just milliseconds.

Now we will look at how to get currency symbol information, which is another service of Fixer API. Let’s replace the code block that creates the request below with the previous code block.

var options = {
  'method': 'GET',
  'url': 'https://data.fixer.io/api/symbols?access_key=c0*****ff',
  'headers': {
  }
};

Now let’s run this code and look at the console of the application.

{
  "success": true,
  "symbols": {
    "AED": "United Arab Emirates Dirham",
    "AFN": "Afghan Afghani",
    "ALL": "Albanian Lek",
    "AMD": "Armenian Dram",
    "ANG": "Netherlands Antillean Guilder",
    "AOA": "Angolan Kwanza",
    "ARS": "Argentine Peso",
    "AUD": "Australian Dollar",
    "AWG": "Aruban Florin",
    "AZN": "Azerbaijani Manat",
    "BAM": "Bosnia-Herzegovina Convertible Mark",
    "BBD": "Barbadian Dollar",
    "BDT": "Bangladeshi Taka",
    "BGN": "Bulgarian Lev",
    "BHD": "Bahraini Dinar",
    "BIF": "Burundian Franc",
    "BMD": "Bermudan Dollar",
    "BND": "Brunei Dollar",
    "BOB": "Bolivian Boliviano",
    "BRL": "Brazilian Real",
    "BSD": "Bahamian Dollar",
    "BTC": "Bitcoin",
    "BTN": "Bhutanese Ngultrum",
    "BWP": "Botswanan Pula",
    "BYN": "New Belarusian Ruble",
    "BYR": "Belarusian Ruble",
    "BZD": "Belize Dollar",
    "CAD": "Canadian Dollar",
    "CDF": "Congolese Franc",
    "CHF": "Swiss Franc",
    "CLF": "Chilean Unit of Account (UF)",
    "CLP": "Chilean Peso",
    "CNY": "Chinese Yuan",
    "COP": "Colombian Peso",
    "CRC": "Costa Rican Col\u00f3n",
    "CUC": "Cuban Convertible Peso",
    "CUP": "Cuban Peso",
    "CVE": "Cape Verdean Escudo",
    "CZK": "Czech Republic Koruna",
    "DJF": "Djiboutian Franc",
    "DKK": "Danish Krone",
    "DOP": "Dominican Peso",
    "DZD": "Algerian Dinar",
    "EGP": "Egyptian Pound",
    "ERN": "Eritrean Nakfa",
    "ETB": "Ethiopian Birr",
    "EUR": "Euro",
    "FJD": "Fijian Dollar",
    "FKP": "Falkland Islands Pound",
    "GBP": "British Pound Sterling",
    "GEL": "Georgian Lari",
    "GGP": "Guernsey Pound",
    "GHS": "Ghanaian Cedi",
    "GIP": "Gibraltar Pound",
    "GMD": "Gambian Dalasi",
    "GNF": "Guinean Franc",
    "GTQ": "Guatemalan Quetzal",
    "GYD": "Guyanaese Dollar",
    [...]
  }
}

With just one request, we have obtained hundreds of currency symbols.

Conclusion

Using currency exchange APIs provides many advantages to finance applications. The data that forms the heart of finance applications are served by these APIs. If you want to increase user satisfaction in your applications and reduce your workload, take a look at the detailed documentation of Fixer API.

3 Currency Exchange Rate APIs To Power Your Global Finance App

3 Currency Exchange Rate APIs To Power Your Global Finance App

Finance applications are a service that directly facilitates human life as a result of technological developments. Finance applications, which were originally intended to inform people about basic finance issues, have evolved into a completely different situation today. It allows people to make investments or any material transactions in a digital environment. Thanks to this service, people save time and have the opportunity to handle many transactions instantly without waiting in a queue.

Now, most of us prefer to do transactions such as money transfers, foreign exchange buying, and selling through finance applications. Today, although some of us still shy away from it, what can be done in financial applications is actually too much to be underestimated.

Some popular finance apps services include:

  • Effortless sending money
  • Trading precious metals, cryptocurrencies
  • Currency exchanging
  • Investment transactions
  • Tracking the trading history

Today, among these features, the most outstanding service in finance applications is foreign exchange trading. Finance applications make use of currency exchange APIs to offer currency trading services to their users. What is this currency exchange API, let’s take a look at it.

3 Currency Exchange Rate APIs To Power Your Global Finance App

What is currency exchange rate API

Currency exchange rate APIs provide currency conversion information to their customers. They provide an instant exchange of information through an endpoint provided in the basic sense. There are some issues that currency exchange rate APIs are responsible for. The accuracy of the currency data provided is very important. Currency exchange rate API guarantees the accuracy of the currency conversion information they provide to their customers, otherwise, they can cause a great loss to their customers.

It is a service that the currency exchange rate API provides customers in the number of currencies provided. Today, many currency exchange rate APIs provide instant conversion information for hundreds of currencies.

And finally, the working performance of currency exchange rate APIs is a very important issue. They are responsible for providing their customers with up-to-date currency data quickly and not causing any delays.

3 popular currency exchange rate APIs

We have prepared 3 currency exchange rate APIs for you, which are frequently preferred by finance applications today. Let’s have a look at these.

Fixer API

Fixer API is used by many applications, especially finance applications. It is the most popular currency exchange rate API. It is actively used by more than 200,000 developers and companies, especially large companies such as Microsoft, Samsung, and Kranken.

Fixer API provides 170 official currency data in the world instantly. It also obtains the data it provides from official financial institutions and updates its data every 60 seconds.

One of the most useful features of Fixer API is that it provides historical currency data up to 1999. In this way, it appeals to a wide audience.

Exchange Rates API

Exchange Rates API is highly preferred by direct finance applications and financial projects. It provides instant conversion information between more than 200 currencies. It draws attention to the number of official currencies it supports.

By updating the data it provides every minute, it guarantees to provide the most up-to-date data to its customers.

It also provides a free package for up to 250 requests per month. Paid packages are very flexible and affordable.

Currencylayer API

Currencylayer is used by many big companies today with the API it provides. It offers a JSON API that provides data on 168 official currencies around the world.

It serves very large companies such as Disney Pixar, FedEx, Team Viewer, and Freelancer. In addition, it continues to serve 250,000 companies.

Currencylayer API is flexible and developed with a developer-friendly approach. It can be quickly integrated into applications. This saves companies a lot of time.

Conclusion

Currency exchange APIs undertake operations related to currency conversions of finance applications. Thanks to these APIs, applications can provide currency conversion services to their users without any worries. If you want to make your currency exchange transactions in your finance applications through an API, visit Fixer, which is the most used currency exchange rate API today.

Why You Should Diversify Your Currency Portfolio with Foreign Exchange Currencies

Why You Should Diversify Your Currency Portfolio with Foreign Exchange Currencies

There are many types of investments today. Like cryptocurrencies, real estate, and stocks. However, from the past to the present, the popularity of investment tools continues to be maintained. Currency investment.

Foreign exchange investors have a foreign exchange portfolio in their hands. In this portfolio, there are strategies implemented according to the paths followed by investors. In this article, we will talk about why we should have more than one currency in the foreign exchange portfolio. But first, let’s clear up some issues.

What is a portfolio

A portfolio is the total value of investment instruments such as cash, foreign currency, gold, bonds, stocks, deposits, and bills that real or legal persons hold to invest and earn profits.

The investment portfolio is prepared in line with the return (return) and risk expectations of the investors. This process is called Portfolio Management and should be done through intermediary institutions with authorization certificates.

What is foreign currency investment?

The difference in value between the currencies of developed countries and the currencies of developing countries is an alternative for investors. Investments made by comparing the difference between currencies are called foreign exchange investments. So how to invest in foreign currency? Foreign exchange markets; Currencies gain or lose value because they are associated with international processes. This situation is defined as a gain or loss for investors.

What is the main reason for diversifying the foreign exchange portfolio with currencies?

When investing in foreign exchange, it is very important to follow the money markets closely and analyze the market. In addition to a good analysis of the money markets, it is very important in the way to invest.

In foreign exchange investments, investors make transactions by risking loss and gain. There are some ways traders can minimize their risk of loss. One of the most popular and guaranteed ways of these ways is to prefer more than one currency when investing in foreign currency.

Preferring more than one currency when investing in foreign currency means compensating for possible losses. For this reason, investors who invest in foreign exchange should invest in at least two of the currencies that are more valuable than the official currency in their location.

Did you know that today there is a very short and popular way to quickly buy and sell currencies in which investors diversify their portfolios? Let’s see what it is.

Currency Portfolio with Foreign Exchange Currencies

The fastest way to currency conversions

One of the fastest ways of converting between currencies and trading is through digital applications. Digital applications generally use free currency converter API in their infrastructures so that investors can quickly and easily diversify the currencies in their portfolios.

Fixer API provides the service that offers the currency converter process used in applications today. It is actively used by more than 200,000 developers and businesses and is growing in popularity.

The main advantage of Fixer API to investors is that it provides information about 170 official currencies in the world through a single service. In this way, investors can diversify their foreign exchange portfolios even in 170 currencies.

Fixer API also provides an excellent service to foreign exchange traders to shape their investments. Historical currency data with a single service. Fixer API provides values ​​of 170 official currencies to each other since 1999. In this way, investors can analyze the historical data of the currencies they will invest in and shape their investments.

Finally, the most satisfying service to investors is the accuracy of the value of 170 currencies. Fixer API provides the most up-to-date data to investors with the data obtained from official financial institutions and banks.

Conclusion

It is a fact that increasing the currency diversity in the portfolios of foreign exchange investors reduces the risk of loss. Fixer API, on the other hand, offers the currency converter service that offers this approach to investors in the fastest way. Check out the always updated and powerful documentation it offers to shape your investments and learn more with the Fixer API.

The Best Foreign Exchange API to Use When Traveling Overseas

The Best Foreign Exchange API to Use When Traveling Overseas

Technological developments make human life easier day by day. It offers people to perform operations that normally took hours, which we could not imagine in the past, in just milliseconds. Many developments that will make human life easier are still increasing day by day.

Currency conversion transactions have become increasingly simple as a result of these technological developments. Previously, physical currency conversions were made from financial institutions, but nowadays, thousands of currencies can be traded with a single application. All within milliseconds.

Services that allow currency exchange transactions to be made electronically are called currency exchange APIs. With the best free currency converter API, people can obtain information about hundreds of currencies instantly. As a result, they can make instantaneous exchange transactions.

Fixer API is the most preferred currency exchange API recently. Fixer API is used more and more in many currency exchange APIs today with the advantages it provides to both businesses and individuals. It is actively used by more than 200,000 developers and businesses. One of the biggest advantages that Fixer API provides to people is that it provides free and safe currency exchange transactions during their international travels. Let’s take a look at the details.

Fixer API For Traveling Overseas

Fixer API, which offers the most popular currency exchange service today, provides data for 170 official currencies to its users. It provides the most up-to-date data by obtaining the provided data from official financial institutions and aims to give confidence. It also enables conversion between the 170 official currencies provided, allowing people to make currency conversions abroad safely and quickly.

Fixer API offers its users flexible and affordable packages. It is available in a package for free use within these packages. Now let’s take a look at how the Fixer API is integrated into the Javascript programming language.

Integration of Fixer API to Javascript

To use the Fixer API, we first need to obtain an API key. For this, we choose one of the flexible and affordable packages, register, and obtain the API key.

After obtaining the API key, we paste the following code block into the file in a Javascript project we created.

var settings = {
  "url": "https://data.fixer.io/api/latest?base=EUR&access_key=c0*****ff",
  "method": "GET",
  "timeout": 0,
};

$.ajax(settings).done(function (response) {
  console.log(response);
});

With this code block, we aim to obtain the value of 170 currencies corresponding to the Euro currency.

When the application runs, we see this output in the console.

{
    "success": true,
    "timestamp": 1666352343,
    "base": "EUR",
    "date": "2022-10-21",
    "rates": {
        "AED": 3.581335,
        "AFN": 85.039468,
        "ALL": 117.145881,
        "AMD": 393.329017,
        "ANG": 1.756946,
        "AOA": 438.488063,
        "ARS": 149.660056,
        "AUD": 1.560879,
        "AWG": 1.757499,
        "AZN": 1.655764,
        "BAM": 1.955528,
        "BBD": 1.968356,
        "BDT": 98.804064,
        "BGN": 1.955814,
        "BHD": 0.367575,
        "BIF": 2015.408394,
        "BMD": 0.975034,
        "BND": 1.392728,
        "BOB": 6.736466,
        "BRL": 5.089388,
        "BSD": 0.974879,
        "BTC": 5.1365395e-5,
        "BTN": 80.639613,
        "BWP": 13.173933,
        "BYN": 2.472818,
        "BYR": 19110.671262,
        "BZD": 1.964956,
        "CAD": 1.346795,
        "CDF": 2001.745511,
        "CHF": 0.986053,
        "CLF": 0.034744,
        "CLP": 958.70262,
        "CNY": 7.065488,
        "COP": 4781.567953,
        "CRC": 604.904067,
        "CUC": 0.975034,
        "CUP": 25.838408,
        [...]
    }
}

That’s how easy it is to integrate the Fixer API into a Javascript application. Fixer API provided official 170 currency information corresponding to Euro currency in just milliseconds.

Conclusion

Using APIs that provide currency exchange services provides many advantages to both businesses and people. It is one of the biggest advantages of providing currency exchange abroad, which we mentioned in this article, safely. If you want to have this and many more advantages like this, discover the privileges offered by Fixer API.

Currency Foreign Exchange: What Does It Mean

Currency Foreign Exchange: What Does It Mean

Currency foreign exchange is a transaction that has been and continues to be done frequently both in the past and today. In fact, the transaction volumes of currency foreign exchange transactions are increasing day by day. The biggest reason for this is that currency foreign exchange transactions are not done in traditional ways.

So, do we know what currency foreign means? In short, currency foreign is money expressed in the currency of another country. Based on this, the currency exchange is called the buying and selling transaction between the currencies of different countries.

Currency foreign exchange transactions, like many technological developments, have been transferred to the digital environment today. Instead of going to banks and making currency foreign exchange, people or businesses can convert currency in milliseconds via a single mobile application or website.

The most popular method that applications or websites use to provide currency exchange services is to use currency exchange APIs. Let’s take a look at what these APIs are.

What is currency exchange API

Currency exchange APIs basically provide a service that provides currency conversions. A currency exchange API usually supports multiple official currencies around the world. In this way, customers can instantly obtain information of more than one currency using this API and convert it between each other.

The most basic requirement that currency exchange APIs must provide is the accuracy of the currency data it provides. Businesses that trade with inaccurate or not updated currency data will incur huge losses. For this reason, businesses or application developers should pay attention to the choice of currency exchange API.

Today, there is an exchange currency API preferred by world-famous companies such as Microsoft, Samsung, and Bershka. Fixer API. There are many reasons why Fixer API is the most popular exchange currency API today. Let’s examine it.

Best exchange currency API: Fixer API

The most popular reason why Fixer is the most popular currency conversion service API today is the accuracy of the currency data it provides. Serving more than 200,000 developers and companies, the priority for Fixer API has always been to provide the most accurate data.

Fixer API obtains the currency data it provides from international official financial institutions, banks and even the European Central Bank. In this way, it obtains the most accurate data from the most accurate data centers. It provides the most up-to-date data to its customers by updating the currency data it provides every 60 seconds.

Another popular feature is the currency number provided. Fixer API provides the most up-to-date data for 170 official currencies around the world. It also aimed to provide services to businesses in every subject by providing the conversion of 170 currencies between each other.

Another reason why Fixer API is preferred by many currency trading applications today is that it provides historical data. Applications that directly serve investors want to provide their investors with historical data of their currencies for analysis. At this point, Fixer API provides great convenience to applications. Since 1999, it provides historical data of all currencies with a single service. This means that applications can benefit from more than one service with a single service.

Finally, let’s talk about the most basic reason why Fixer API is loved by developers. Fixer API has been developed with an approach that will be easy to integrate and save time for developers. Fixer API has a very flexible web service structure and produces output in JSON format. For this reason, it is developer friendly.

Conclusion

With the popularization of currency foreing exchange transactions, the number of exchange currency APIs has increased. If you are looking for an API to use in your businesses or applications, take a look at the unique document provided by Fixer API.