Track Foreign Currencies By Using An API In 2022

The advancement and development of technology is making the world smaller. Thanks to the development of technology, people are expanding their networks around the world. For example, today, people have the chance to access the convenience of shopping easily from the shopping sites of companies in any country.

In the globalizing world, companies providing international services need to track instantaneously changing foreign exchange information depending on multiple factors. There are many ways to track the exchange of information instantly. The most popular and most effortless of these ways is to use the currency converter API.

For example, you have an import company that sells products abroad or you have an import company that buys products from abroad. In this case, it is inevitable to make instant conversions between multiple currencies. Although there are many ways to follow instant conversions of this currency information, the most effortless and fastest way will be to add the service that provides currency converter api service to your company’s site. The service providing currency converter API service will provide companies with the opportunity to easily convert hundreds of currencies in just milliseconds at the payment step.

Another reason why using the currency converter api is the best way to track currency information is that it offers hundreds of officially recognized currency data around the world. The currency converter api also offers hundreds of currency data in just milliseconds.

There are some things to consider before integrating the currency converter api into your website. For example, it is very important that the service providing the currency converter api service that you plan to integrate into your website obtains foreign currency information from reliable sources. Another issue is that this service needs to add the updated data it obtains to the web service it has outsourced at regular intervals. In this way, for example, currency information is updated every 30 seconds and the margin of error in purchases is minimized.

Exchangerates API is one of the most popular services in using currency converter API to track foreign currency information. With over 15 exchange rate data sources, the Exchangerates API is delivering exchanging rates data for more than 170 world currencies. This API has several endpoints, where each of them serves a different purpose, use case. The endpoints include functionalities like receiving the latest exchange rates information for a specific set, or for all currencies; conversion from one to another currency; receiving data Time-series for multiple or for one currency, and preserving the API daily for the fluctuation data.

Conclusion

In the globalizing world, one of the most popular ways of tracking foreign currency information for companies to serve millions of users around the world is to use the currency converter api. You can quickly integrate a service that provides currency converter api service to your websites in order to access many more conveniences and speeds.

8 Ways To Elevate Your Corporate Payments Procedures

Nowadays, almost every kind of business has started to shift to the digital environment. Firms, people have brought all the needs of their businesses to the internet environment. This situation has revealed an abundance of options in the digital environment.

Especially today, the concept of e-commerce has become one of the most popular services preferred in the internet environment. People have access to the convenience of purchasing the products they like from all over the world with one click. For e-commerce environments, one of the most important issues is the payment step. Companies pay great attention to payment steps in order not to lose their reputation.

In this article, 8 ways to increase procedures, especially in corporate payments, will be discussed.

  1. Supported currencies

One of the most important issues in corporate payment steps is the number of currencies your system supports. There are hundreds of official currencies in the world and you should ensure that people from all over the world can easily shop without any currency barriers in their purchases through your application. With the exchange rate api, which will be integrated into the corporate payment step of your system, you can obtain the value of hundreds of currencies instantly and increase the corporate payment procedure of your system by providing information to your users and providing convenience during payment.

  1. Reliable currency data

It is very important for the reputation of the company that the data in the currency services that will be offered to the users during the corporate payment are reliable. The exchange rate API service that you will integrate into your system must be fed from reliable data sources at certain periods and transmit the most up-to-date data to your system. Otherwise, offering transactions to your international users with incorrect currency conversion values ​​will adversely affect your corporate payment procedures.

  1. Transaction speed

One of the most important issues after the security in corporate payment steps is the speed of the transaction. Systems can contribute to corporate payment procedures by providing users with the opportunity to make quick transactions. No user wants to face time-consuming processes at the payment step. This creates insecurity.

  1. Keep data in digital environment

Since there will be no cash flow in shopping done in digital environments, paperless accounting emerges. At this stage, the payment details should be kept securely in the digital environment for payments made in the digital environment. Since it will be a paperless accounting, the margin of error and irregularity in payments will be reduced to zero.

  1. Secure payment

The most important issue in electronic payments is security. Users want the card information they will enter during the purchase step from your system to be processed reliably. For example, you can gain trust by offering the 3D payment method service provided by banking to users from your system. You can elevate your corporate payment procedures by using a reliable payment infrastructure in your systems.

  1. Detailed invoices

In corporate payment transactions, it is very important that the electronic invoice that will be sent to the user after the payment is completed, is detailed. All charges (service, cargo, product, tax) received from the user should be clearly stated in the detailed invoice. This will allow you to elevate your corporate payment procedures.

  1. Transaction log

One of the most important issues to be considered in the flow of payment transactions is to log the transactions made by your users during the payment step. If you want to elevate your corporate payment procedures, you must have the records of the problems that the users experienced during the payment and you should help your users by looking at the logs.

  1. Exchange rate API support

It is very important that the exchange rate API service that will be integrated into the corporate payment step is obtained from a reliable and corporate company. It is very important to have a unit that you will receive support in case of an error or integration problem in the exchange rate API, which you will use for many purposes in the payment steps. This will increase the trust of your users in your system.

Conclusion

It is possible to elevate your corporate payment procedures in many ways in addition to the above items. Do not forget that configuring your system, taking into account security and customer satisfaction, will directly increase your corporate payment procedures.

A Step-By-Step Guide to Currency Conversion API

Today, it is possible to convert hundreds of currencies with a single application. Users can set the currency in their wallets as base and make purchases and sales transactions between the currencies they want to convert within milliseconds. Applications providing this service are integrating the services that provide currency conversion API services into their applications.

Exchangerates API is one of the services that provides currency conversion API service that applications can choose.

In this article, the currency conversion service will be explained step by step through the Exchangerates API, which provides currency conversion API.

What is the Exchangerates API?

With over 15 exchange rate data sources, Exchangerates API provides exchange rate data for over 170 world currencies. This service has several endpoints, each serving a different purpose. Endpoints include functions such as getting the latest exchange rate information for all currencies; conversion from one currency to another; Getting data for multiple or one currency Time series and maintaining API daily for fluctuation data.

It instantly returns more than 170 official currency information in milliseconds.

An API key is needed to use the Exchangerates API, which provides a Currency conversion API. To obtain an API key, you can choose one of the flexible and appropriate packages available on the official website of Exchangerates and obtain an API key.

For information: https://exchangeratesapi.io/

  1. Get latest data

If you make a request to the Exchangerates API, which provides Currency conversion API service, by specifying the currency you will use as the base, you can see the value of the currency you set as the base in other currencies.

Example request

https://api.exchangeratesapi.io/v1/latest?access_key=b5*****5&base=EUR

Response

{
  “success”: true,
  “timestamp”: 1649839023,
  “base”: “EUR”,
  “date”: “2022-04-13”,
  “rates”: {
    “AED”: 3.978956,
    “AFN”: 95.726151,
    “ALL”: 121.196785,
    “AMD”: 515.552365,
    “ANG”: 1.961504,
    “AOA”: 455.937667,
    “ARS”: 122.09729,
    “AUD”: 1.457717,
    “AWG”: 1.949956,
    “AZN”: 1.837594,
    “BAM”: 1.958821,
    “BBD”: 2.197768,
    “BDT”: 93.811728,
    “BGN”: 1.955145,
    “BHD”: 0.40839,
    “BIF”: 2233.570123,
    “BMD”: 1.083309,
    “BND”: 1.483852,
    “BOB”: 7.493441,
    “BRL”: 5.064484,
    “BSD”: 1.088467,
    “BTC”: 0.000027017729,
    “BTN”: 82.831381,
    “BWP”: 12.540061,
    “BYN”: 3.606756,
    “BYR”: 21232.855451,
    “BZD”: 2.194062,
    “CAD”: 1.369557,
    […]
  }
}
  1. Get latest data of specific symbols

You may want to see the value of the currency you set as base when making a request to the Exchangerates API, only against a few currencies you want. In this case, you can filter by adding the ‘symbols’ parameter to your service request.

Example request

https://api.exchangeratesapi.io/v1/latest?access_key=b5*****5&base=EUR&symbols=USD,TRY,CAD,PLN,MXN

Response

{
  “success”: true,
  “timestamp”: 1649839023,
  “base”: “EUR”,
  “date”: “2022-04-13”,
  “rates”: {
    “USD”: 1.083309,
    “TRY”: 15.801582,
    “CAD”: 1.369557,
    “PLN”: 4.642651,
    “MXN”: 21.404624
  }
}
  1. Get historical data

Exchangerates API, which provides Currency conversion API service, also offers historical data. With Currency conversion services that offer historical data, you provide users with the opportunity to make statistics and analysis on the data by transmitting historical data.

Example request

https://api.exchangeratesapi.io/v1/2013-03-16?access_key=b5*****5&base=EUR&symbols=USD,TRY,CAD,PLN,MXN

Response

{
  “success”: true,
  “timestamp”: 1363478399,
  “historical”: true,
  “base”: “EUR”,
  “date”: “2013-03-16”,
  “rates”: {
    “USD”: 1.307716,
    “TRY”: 2.362968,
    “CAD”: 1.333812,
    “PLN”: 4.150819,
    “MXN”: 16.259128
  }
}
  1. Get converted data

When making a request to the Exchangerates API, which provides a currency conversion API, you can use the ‘from’, ‘to’ and ‘amount’ parameters to get the value calculated according to the amount between the two currencies.

Example request

https://api.exchangeratesapi.io/v1/convert?access_key=b5*****5&from=USD&to=EUR&amount=25

Response

{
  “success”: true,
  “query”: {
“from”:”USD”,
“to”:”EUR”,
“amount”:25
  },
  “info”:{
    “timestamp”: 1363478399,
    “rate”: 0.9236
  },
  “historical”: “”,
  “date”: “2022-04-13”,
  “result”:23.09
}

Conclusion

By integrating the services that provide Currency conversion API services into your projects, you can increase the organic traffic of your application by instantly transmitting the most up-to-date data to your users.

10 Quick Tips About An Currency Conversion API

10 Quick Tips About An Currency Conversion API

The places where people buy and sell foreign currency have evolved into mobile applications as technology develops. Today, it is possible to do currency conversion and trade between hundreds of currencies through a single application, within milliseconds. These applications that provide Currency exchange services generally integrate the Exchange Currency API services into their applications and serve their users.

Applications that provide foreign exchange trading services should be careful when choosing the services that provide Exchange Currency API services to integrate into their systems. Factors such as the accuracy of the data to be returned by this service and the rotation speed may affect your choice.

Here are 10 tips about Currency conversion API.

  1. Response time

User satisfaction must be at the highest level. The first thing applications need to do to maximize this satisfaction is the application’s performance. The speed of a currency conversion service that you intend to integrate into your application is very important. Choosing services where you can get a quick response increases user satisfaction.

  1. Consistency of data

It is very important that the data that the Currency conversion services return to your application is consistent. If your users make transactions with incorrect data, it will cause problems both in terms of legal terms and in terms of the transaction volume target you intend to increase.

The data to be provided by the Currency conversion service must contain the most accurate data instantly.

  1. Updated data

Currency data can change by increasing or decreasing within seconds. The service that provides the Currency conversion service needs to update its data periodically. The applications used by the users should also make requests to the services at these intervals and present the most up-to-date data to the users. The user who spends time in the application for 2 minutes should not be able to act with the data he obtained when he first opened the application.

  1. Response format

The response type that the services that provide the Currency conversion service use to communicate with your application is important. Expectations from such services are usually JSON format. However, the services that provide this service return responses in both XML and JSON formats, giving you the option to use the format that suits you in terms of the structure of your application.

  1. Historical data

Investors who use foreign exchange trading applications generally need historical data of the currencies they will invest in. They shape the investments with the analysis and statistics made on the historical data. It is very important for the services that offer the Currency conversion service to also provide historical data in terms of user satisfaction and attracting investors to your application.

  1. Flexible API

The flexibility of the currency conversion service that you intend to integrate into your application is an important criterion. The fact that requests to the service are parametric and querying by adding parameters to the service url will save you time both in terms of speed and development cost.

  1. Supported currencies

The number of official currencies that users can transact in in your application is a very important factor. As the number of official currencies you support in your application increases, you can attract international users to your application and increase your transaction volume. When choosing a currency conversion service, it would be helpful to take a look at the currencies this service supports.

  1. Connection security

The security of this connection is very important when connecting to the currency conversion service that you receive service through your application. You should prefer services that basically encrypt their connections with bank-level security.

  1. Technical support

Since currency is traded in your application, any data corruption or long-term connection problem to the currency conversion service can have serious consequences. Legal processes can begin. In this process, it is very important that the service providing currency conversion service provides technical support. In case of any problems, you can quickly overcome these problems with the technical support service.

  1. Documentation

Another important factor is that the currency conversion service that you plan to integrate into your application has a strong documentation. It allows you to access detailed information about the service and make a fast integration.

Conclusion

If you choose the currency conversion service that you intend to integrate into your application, according to the 10 tips we have mentioned above, it is quite possible to increase your user satisfaction and transaction volume.

How to use a Fixer API with Python to Build a Currency Conversion Chart

Currency trading applications have been increasing in popularity among people lately. This process, which used to be troublesome, has reached the speed of milliseconds with the development of technology. People can buy and sell hundreds of currencies from a single application.

There are some services hosted by these applications, which are increasing in popularity. These applications are usually the currency conversion chart, which shows the exchange rates of the currency in the hands of the people who will trade. With this currency conversion chart, traders can see the value of the currencies they intend to buy or sell against the currency in their wallet.

An example Currency Conversion Chart is as above.

In this article, we will simulate currency conversion chart in the Python programming language using Fixer API, which provides Currency Exchange API service.

So let’s start.

Integration Fixer API to Python Programming Language

Fixer API, which provides Currency Exchange API service, is preferred in this article because it is a very popular service and it returns up-to-date data in just milliseconds.

Before integrating Fixer API into the project, you must obtain an API key from the fixer.io website. You can use the service with this API key.

Now, we create a sample Python project and paste the following codes, then let’s run it.

import http.client

conn = http.client.HTTPSConnection(“data.fixer.io”)
payload = ”
headers = {}
conn.request(“GET”, “/api/latest?access_key=c0*****f”, payload, headers)
res = conn.getresponse()
data = res.read()
print(data.decode(“utf-8”))

When this code runs, the response is as follows.

{
  “success”: true,
  “timestamp”: 1649624524,
  “base”: “EUR”,
  “date”: “2022-04-10”,
  “rates”: {
    “AED”: 4.011231,
    “AFN”: 96.104529,
    “ALL”: 121.773346,
    “AMD”: 519.498984,
    “ANG”: 1.969097,
    “AOA”: 479.086211,
    “ARS”: 121.957108,
    “AUD”: 1.464278,
    “AWG”: 1.964681,
    “AZN”: 1.855471,
    “BAM”: 1.962905,
    “BBD”: 2.205951,
    “BDT”: 94.265458,
    “BGN”: 1.964086,
    “BHD”: 0.411858,
    “BIF”: 2196.75153,
    “BMD”: 1.092096,
    “BND”: 1.488565,
    “BOB”: 7.511273,
    “BRL”: 5.132415,
    “BSD”: 1.092538,
    “BTC”: 0.000025322239,
    “BTN”: 82.848308,
    “BWP”: 12.638051,
    “BYN”: 3.561737,
    “BYR”: 21405.085753,
    “BZD”: 2.202237,
    “CAD”: 1.372295,
    “CDF”: 2196.205154,
    “CHF”: 1.018112,
    “CLF”: 0.032257,
    “CLP”: 890.058453,
    “CNY”: 6.951305,
    “COP”: 4111.021454,
    […]      }
}

In line with the request made to the Fixer API, we have accessed the exchange rate information of the EUR currency to 170 official currencies in the world.

We are customizing our query a little more, as we will only have the currencies we want to trade in our table.

import http.client

conn = http.client.HTTPSConnection(“data.fixer.io”)
payload = ”
headers = {}
conn.request(“GET”, “/api/latest?access_key=c0*****f&symbols=TRY,USD,GBP,AUD”, payload, headers)
res = conn.getresponse()
data = res.read()
print(data.decode(“utf-8”))

When this code runs, the response is as follows.

{
  “success”: true,
  “timestamp”: 1649624524,
  “base”: “EUR”,
  “date”: “2022-04-10”,
  “rates”: {
    “TRY”: 16.100501,
    “USD”: 1.092096,
    “GBP”: 0.837818,
    “AUD”: 1.464278
  }
}

With this query, we have obtained the exchange rate information of EUR currency against TRY, USD, GBP and AUD currencies via Fixer API. If we put them in a table on the currency conversion chart, it will look like this.

Currency Conversion Chart

EURTRYUSDGBPAUD
116.1005011.0920960.8378181.464278

In order to dynamically transfer this simulated application to the Currency Conversion Chart, we can open the JSON type data that we query and obtain with the Python programming language to the outside world via a web service. With a front-end application using this web service, the incoming data is instantly transferred to the currency conversion chart.

Conclusion

By using the Fixer API, which provides CurrencyExchange AOI service, you can provide your users with high user satisfaction in their trading transactions by obtaining up-to-date data.

A Beginner’s Guide To Using Currency Exchange API

A Beginner’s Guide To Using Currency Exchange API

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.

Conclusion

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.