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What Are the Advantages of Forex APIs for Ecommerce Businesses?

Are you having trouble with currency exchange for your ecommerce business? Then, forex APIs are here to make it easier for you!

The Forex (foreign exchange) market is a special type of financial market that provides the foreign currency exchange. This is posible because, the main participants in this market are the larger international banks. So, financial centers around the world function as anchors of trading between a wide range of different kinds of buyers and sellers around the clock; with the exception of weekends. Hence, the foreign exchange market determines the relative values of different currencies.

Furthermore, with the ever-growing popularity of ecommerce, where sellers and buyers are located all over the world, it’s important to stay up to date with currency exchange rates. This is where Forex APIs come in handy.

What are Forex APIs?

Simply put, an application programming interface (API) refers to a set of tools; that developers use to interact with each other’s software or build applications. A Foreign Exchange API is an Application Programming Interface with streaming data dedicated to the foreign exchange market; and used by fintech companies that need to make financial decisions.

How Can Forex APIs Help Your Ecommerce Business?

  1. Provides real time information. give you access to the latest rates so that you can act quickly if the market changes dramatically.
  2. They help you make financial decisions that will benefit your ecommerce business.
  3. It allows you to conduct business in other countries without having to worry about fluctuating currency values.
  4. They can be integrated into your existing software, website or application.

So, if all of these benefits convinced you and you are looking for a foreign exchange API, we recommend you Exchangr!

Exchangr Will Benefit Your Business

Exchangr is a currency exchange rate API that delivers accurate currency exchange rates and conversions using the JSON data format. It also offers real-time updates in 172 different foreign currencies, including cryptocurrencies, making it ideal for any app that needs to present consumers with currency information. Exchangr is quick, simple to incorporate into your website, and ideal for your ecommerce business!

Furthermore, we are talking about and Easy-to-integrate API. Its delivered in portable JSON format for maximum usability, ease of integration, and compatibility with any of your applications!

You can also access many built-in features. If you ever require more than the Free Plan – for example, advanced API Access – Subscription Plans begin at a Startup-friendly $10 per month. It has advanced features such as historical rates, switching the source currency, converting a single amount, and much more!

How do I get started with Exchangr?

It’s very simple, and you don’t even need a credit card! Just follow these steps and get your information in no time!

  1. Simply register and obtain your own API key by clicking here.
  2. Then you choose the currencies for which you want to obtain rates or convert.
  3. The final and most important step is to make the API call.

And just like that, you have all of the information you require!

By the way, if you want to know more about this API, visit Exchangr’s Documentation by clicking here. Throughout this documentation you will learn about Exchangr API’s structure, methods, potential errors and code examples. In case any question was left unanswered, you can also contact Exchangr’s team. They will be happy to help out!

Now you know, improve your financial decisions for your ecommerce business with the help of Exchangr!

Related post: Three Industries that Use Forex APIs

Also published on Medium.

Published inApps, technologyCryptocurrenciesE-commerceFintechTechnology

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