Best Currency API: Which One is Right for Your Business?

February 27, 2023

Knowing the currency exchange rates play a huge role in determining the future of a business. Regardless of whether yours is a large-scale business or startup, currency exchange rates are crucial in knowing how well a business can perform with regard to other regions. It is through the currency exchange rates that a business gets to decide the amount of profit they will be able to make, the growth they will experience after associating with other ventures, and so on. In this regard, a currency API acts as an immensely productive tool in extracting accurate and updated currency exchange rates.

There are numerous currency API that work wonders by helping diverse firms in offering knowledge of finance and trading. Organizations associated with the international market will greatly benefit from currency exchange APIs since they will have accurate information regarding currencies and also swiftly changing values. Below are some of the top currency conversion APIs you need to know for advancing your business.

1. Currencylayer

Best of all - Currencylayer is considered the most entrusted and productive currency API. your business will thank you for using an API like this which offers the most updated currencies of more than 168 currencies across the world. It is based on a real-time JSON API and collects data from reliable sources like commercial banks and similar institutes. The best part is, this currency API is compatible with diverse programming languages and applications. The solutions received are available in JSON format for convenient integration, and are also compatible with several applications.

Enhanced features like switching source currency, altering parameters, recasting single amounts, historical data, and more are experienced through the usage of this API. furthermore, your business will be benefitted from massive and instant access to historical data of over 19 years alongside precious metals as well. The data is thoroughly encrypted and also offers stable data streams. Speaking of usage, you can choose your subscriptions based on your need.

2. Fixer

Fixer is a subtle, lightweight, and convenient currency conversion API that is reputed for offering both present-day and historical currency exchange rates. Fixer is popular among different corporations - both large-scale and small-scale. Its trustworthy data makes it a favourite among diverse industries. The best part is, you will find the data is updated every 60 seconds and that too for over 170 countries. Speaking of the sources, they are from prominent institutes like the European Central Bank, and similar noteworthy financial service providers.

The complete system is secured through bank-grade 256-bit SSL encryption. Additionally, it is user-friendly and seamlessly incorporated within 10 minutes with the assistance of intuitive code examples, direct API structure, and comprehensive API documentation.

3. Exchangerates

Exchangerates is again a popular exchange rate rest API that offers raw historical and current exchange rates. This one is a real-time market data API that has gained popularity for its uncomplicated and easy-to-go look. This one comprises a REST API interface that offers stock market data worldwide in JSON format. As you use this API, you will experience real-time currency, precise, accurate, and most importantly, fresh. Every 60 seconds, the data is updated, and all you receive is the live data of thousands of currencies.

This API links with esteemed foreign exchange rate sources that put forward correct and fresh rates for over 200 pairs. Since this API is expandable in nature, it is able to control different API requests from a wide variety and that too every second. In fact, you will also enjoy the immediate approach to the host of correct currency pairs right from the beginning.

4. CurrencyAPI

This API offers currency rates of over 170 countries - both historical and present. The update is conducted every 60 seconds, and therefore, whenever you are noticing any rate, be assured that you are viewing the latest version. It has a robust design that handles millions of requests per second. The API is completely customizable and easy to use. It holds features like tailored backing, performance overview, team functionality, and more. On the dashboard, you will not only notice the key performance indicators, namely, API request numbers, success rate, and mean latency. Furthermore, it also puts forward graphs for visualizing metrics like successful requests, overbearing quota, server error, and more.

5. Open Exchange Rates

For amplifying your brand, organziation, or startup, Open Exchange rates are often regarded as the best one. Apart from being reliable, consistent, and precise, this currency API community develops more than 200 open-source plugins and libraries for frameworks and languages. Over 1 lakh developers rely on this API for being swift, adaptable, and affordable.

The aforementioned currency APIs are regarded as the top-notch ones among the pool of exchange APIs. additionally, currency conversion API like Abstract, ExchangeRate-API, XE, are some of the names that you will find equally helpful.

 

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Carlos Diaz
I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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