Are you looking for a reliable currency exchange API for your business? If so, check out these three APIs!
If you run a business that deals with foreign currency, then you’ve probably had to deal with currency exchange rates at some point in time. They have always been a challenging task for businesses; because it is difficult to accept payments in different currencies and calculate the exchange rates. For example, you may have had to make a payment in dollars but receive it in euros, or vice versa.
Furthermore, currency exchange rates are constantly changing. One minute, one dollar might be worth 1.21 euros; the next, it might be worth 1 euro per dollar. That kind of fluctuation is something you want to keep an eye on if you’re going to have a successful business that deals with international transactions. So, if all of the above applies to your business, then having an API for currency exchange data at your disposal may be useful for you.
What Is A Currency Exchange API?
You may have heard the buzz about APIs. They’re all over the internet, and they can be used to integrate your business with different applications and services. Currency exchange APIs help you with all foreign exchange issues and make your business more efficient. These APIs can be used to:
- Obtain real-time and historical currency exchange data,
- Get live currency rates and compare them,
- Analyze forex market data to make better financial decisions,
- Integrate currency exchange into your own website or application,
- And more!
So, if you’re looking to run your financial business with ease, then you should consider using the following three reliable currency exchange APIs:
Exchangr API
Exchangr is a JSON API for currency exchange rates and conversions that delivers accurate and reliable data on the foreign exchange market. This API collects real-time and historical information on 164 world currencies from credible providers all around the world. These include, international banks, brokers, and financial institutions.
This API allows you to understand, follow, and stay up-to-date on what’s going on in the world of economics; as well as choose carefully what financial decisions you should make next. For its use, Exchangr API offers a free small version, which is very comprehensive. It includes 100 API requests per month; hourly updates; access to support and historical rates; and much more. However, if you need more, you may upgrade at any time. Subscribed plans start at USD 14.99. This makes Exchangr affordable, with an ideal price for startups!
Fixer
Fixer is a JSON API for current and historical currency rates that is simple and lightweight. It is very easy-to-use so you can get started with it in just 10 minutes. This API offers additional endpoints for single currency conversion; and Time-Series data in addition to live data.
Furthermore, Fixer provides real-time exchange rate data for 170 different foreign currencies, which is gathered from financial data suppliers and institutions. The free plan includes 100 API requests per month, hourly updates, and historical data access.
Currency Conversion
Currency Conversion is a basic currency conversion API that allows you to convert currencies online. You may use this tool to convert 150 different foreign currencies.
To use this API just subscribe to Currency Conversion’s Prepaid Service, which starts at USD 3. This service is great for anyone who doesn’t need to make a lot of requests, because you may pay as you go.
The currencies rates are updated every 60 minutes in this service, and the requests purchased never expire unless they are used. Premium Servers, on the other hand, start at $5 per month and feature premium support, 15-minute upgrades, and a high-performance server for production use.
Get Started With A Currency Exchange API
Now that you have all this information, you are ready to decide which API suits your business the best. Get ahead on what is happening in the currency exchange market with an API and improve your business decisions!
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Also published on Medium.