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.

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.

10 Ways To Use Currency Exchange API

10 Ways To Use Currency Exchange API

Recently, we have seen that people have entered the foreign exchange buying and selling process. Most people do this to invest or maintain the value of their own money. With the development of technology, people started to trade between official currencies in the world by entering an application via their mobile phones.

It has become increasingly easier to see exchange rate information and trade among hundreds of currencies with a single application. These applications mostly integrate the services that provide Currency Exchange API services into their applications and present the information they receive from the service to their customers in milliseconds.

Before integrating the services that provide Currency Exchange API service into your applications, there are some points that you need to pay attention to.

The first of these is reliability. The service that provides the Currency Exchange API service that you plan to integrate into your application should be investigated. It is necessary to make a choice by analyzing issues such as the accuracy of the data and the security of the communication.

You should definitely pay attention to the speed factor. You should provide your users with information such as the exchange rate information they want to see in milliseconds.

Let’s examine the popular free Currency Exchange API services in the market now.

Best Ways to use Currency Exchange API

10 popular Currency Exchange API services that you can integrate into your application will be listed.

1. Fixer

Fixer provides a service that includes Currency Exchange API service. It is one of the most preferred Currency Exchange APIs. It includes flexible packages and prices are available for every budget. Fixer offers 170 official currencies worldwide in milliseconds, updated in 60 seconds. It has a flexible structure. It also provides historical data services.

Link: https://fixer.io/

2. Live-Rates API

Live-Rates API returns Forex rates to its customers in JSON and XML formats, which are the most preferred formats for inter-series communication today. The rates offered by the Live-Rates API, which provides Currency Exchange API service, are constantly updated. This platform is designed for integration with eCommerce systems, brokerages, and casinos.

Link: https://www.live-rates.com/

3. XE Currency Data REST API

Another service that provides Currency Exchange API service is XE Currency Data API. It is a solution for monitoring real-time exchange rates in international money markets. The API acts as a hub for streaming exchange rates for over 160 currencies, provided by over 100 sources from around the world. It can present data in JSON, XML, CSV formats.

Link: https://www.xe.com/xecurrencydata/

4. Currency API

Currency API is a Currency Exchange API that provides services for you to do your exchange rate conversions. With the service it offers, it helps you with current and past exchange rates. In addition, the Currency API provides a strong infrastructure by processing millions of requests per day.

Link: https://currencyapi.com/

5. Currencylayer API

Currencylayer API, which provides Currency Exchange API, offers the most up-to-date data for 168 official  world currencies. It has adopted an approach that can be quickly integrated into your applications. Service responses are presented in JSON format. It offers subscriptions starting at $9.99 per month with beginner-friendly packages including the free package.

Link: https://currencylayer.com/

6. Exchange Rate API

Exchange Rate API officially supports currency for 161 currencies worldwide. It has a service that can be easily integrated. The service it offers returns in JSON format in response. It offers powerful documentation and integration codes for different programming languages.

Link: https://exchangeratesapi.io/

7. fastFOREX API

fastforex API provides a fast, simple, and easy integrate service for exchange rate data. It provides fast JSON responses over HTTPS. It includes a Real-Time service for over 145 Currencies around the World.

Link: https://www.fastforex.io/

8. API Forex

API Forex, which offers Currency Exchange API service, offers over 160 official currency exchange rates. With API Forex, you can get detailed information in seconds from a single request.

Link: https://api.forex/

9. Open Exchange Rates

Open Currency Converter provides a fast JSON API with live currency rates through a simple and easy to integrate API in JSON format. Exchange rates published via the Open Exchange Rates API are collected from multiple trusted providers and are available in JSON format for anyone to use.

Link: https://openexchangerates.org/

10. Currency GetGeo API

Another service that provides Currency Exchange API service is Currency GetGeo API. Currency GetGeo API allows you to learn the most up-to-date exchange rates with a single API call. It supports more than 170 official currencies around the world. Requests to this service return response in JSON and XML format. 256-bit SSL encryption is used.

Link: https://currency.getgeoapi.com/

Conclusion

There is more than one Currency Exchange API service that is suitable for your applications. With these services, you can determine the most suitable one for your application and attract international users to your application.

How to Use the Fixer API with Python, PHP, Ruby & Javascript

How to Use the Fixer API with Python, PHP, Ruby & Javascript

Thousands of people are instantaneously performing foreign exchange buying and selling transactions through a single application. The applications that people use provide services to users around the world by supporting official currencies around the world. In this way , organic traffic is provided to the applications . These applications generally serve their users by using services that provide Currency Exchange API service.

One of the most popular services offering Currency Exchange API is Fixer API. Fixer API is preferred by large companies such as Microsoft, Samsung, Berskha, and it returns accurate and reliable information in JSON format in just milliseconds.

Fixer API also offers historical data service with an investor-friendly approach. It helps you to shape a large data pool within the framework of your investments.

In this article, we will take a look at how Fixer API, which provides Currency Exchange API, is quickly integrated into Python, PHP Ruby and Javascript languages. So let’s start.

Fixer API integration

You can quickly integrate the Fixer API, which provides Currency Exchange API service, into your applications. Before integration, you need to choose a suitable package from the Fixer API website and obtain an API key. With this API key, you can quickly integrate the Fixer API service into your application.

Integration to Python Programming Language

After obtaining the API key to integrate with the Fixer API, we can paste the following code block into the Python project and 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”: 1649499123,
  “base”: “EUR”,
  “date”: “2022-04-09”,
  “rates”: {
    “AED”: 3.994736,
    “AFN”: 95.707667,
    “ALL”: 121.269795,
    “AMD”: 517.352591,
    “ANG”: 1.960959,
    “AOA”: 477.106204,
    “ARS”: 121.989028,
    “AUD”: 1.460809,
    “AWG”: 1.956561,
    “AZN”: 1.853208,
    “BAM”: 1.954792,
    “BBD”: 2.196834,
    “BDT”: 93.875858,
    “BGN”: 1.955968,
    “BHD”: 0.410156,
    “BIF”: 2187.672338,
    “BMD”: 1.087583,
    [170 world currencies]
  }
}

The answer returns the currency value of 170 countries around the world as EURO.

Integration to PHP Programming Language

With this PHP code, we can see the values of GBP, AUD, USD, PLN, MXN, TRY corresponding to EUR currency via Fixer API.

$access_key = ‘c0*****f’;

$ch = curl_init(‘http://data.fixer.io/api/latest?access_key=’.$access_key.‘&symbols=GBP,AUD,USD,PLN,MXN,TRY’);
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);

$json = curl_exec($ch);
curl_close($ch);

$api_result = json_decode($json, true);

echo $api_result;

When this code runs, the response is as follows.

{
    “success”: true,
    “timestamp”: 1649499123,
    “base”: “EUR”,
    “date”: “2022-04-09”,
    “rates”: {
        “GBP”: 0.835426,
        “AUD”: 1.460809,
        “USD”: 1.087583,
        “PLN”: 4.633889,
        “MXN”: 21.791984,
        “TRY”: 16.040868
    }
}

Integration to Ruby Programming Language

With the Ruby code below, the value of EUR currency to GBP, AUD, USD, PLN, MXN currencies on 2013-03-16 was queried

require “uri”
require “net/http”

url = URI(“http://data.fixer.io/api/2013-03-16?access_key=c0****f&symbols=GBP,AUD,USD,PLN,MXN,TRY”)

http = Net::HTTP.new(url.host, url.port);
request = Net::HTTP::Get.new(url)

response = http.request(request)
puts response.read_body

When this code runs, the response is as follows.

{
    “success”: true,
    “timestamp”: 1363478399,
    “historical”: true,
    “base”: “EUR”,
    “date”: “2013-03-16”,
    “rates”: {
        “GBP”: 0.865184,
        “AUD”: 1.256333,
        “USD”: 1.307716,
        “PLN”: 4.150819,
        “MXN”: 16.259128,
        “TRY”: 2.362968
    }
}









Integration to Javascript Programming Language

With the following Javascript code, the value of the EURO currency in 170 official currencies is instantly displayed.

var settings = {
  “url”: “http://data.fixer.io/api/latest?access_key=c0*****f”,
  “method”: “GET”,
  “timeout”: 0,
};

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

When this code runs, the response is as follows.

{
    “success”: true,
    “timestamp”: 1649499123,
    “base”: “EUR”,
    “date”: “2022-04-09”,
    “rates”: {
        “AED”: 3.994736,
        “AFN”: 95.707667,
        “ALL”: 121.269795,
        “AMD”: 517.352591,
        “ANG”: 1.960959,
        “AOA”: 477.106204,
        “ARS”: 121.989028,
        “AUD”: 1.460809,
        “AWG”: 1.956561,
        “AZN”: 1.853208,
        “BAM”: 1.954792,
        “BBD”: 2.196834,
        “BDT”: 93.875858,
        “BGN”: 1.955968,
        “BHD”: 0.410156,
        “BIF”: 2187.672338,
        “BMD”: 1.087583,
        “BND”: 1.482413,
        “BOB”: 7.480229,
        “BRL”: 5.111208,
        “BSD”: 1.088022,
        “BTC”: 2.5629296e-5,
        “BTN”: 82.505895,
        “BWP”: 12.585818,
        “BYN”: 3.547017,
        “BYR”: 21316.618359,
        “BZD”: 2.193136,
        [170 world currencies]
    }
}

Conclusion

You can serve international users by integrating Fixer API, which provides a reliable and fast integrated Currency Exchange API, into your application.