5 Ways to Use a Currency Exchange API on your App or Website

Currency Exchange API: For most people, money is just that, money. They work, get paid, and exchange money for goods and services at local stores or online retailers. But ordinary people forget one essential thing: money makes the world move.

As a result, most people don’t have to worry about any currency other than paid. But, on the other hand (particularly online companies), businesses must handle currencies on a global scale.

People say that dealing with time in software development is complex. I’ll give you that, but working with multiple currency types is a very close second. At the heart of the worldwide economy is the idea of ​​exchange rates.

These are probably the actual prices because they affect the price of imports and exports of each country.

Unsurprisingly, these rates are constantly changing. If you need to put currency exchange rate information to your apps, you need reliable and up-to-date data.

This is where fixer.io comes in is an Open-Source API that provides access to 170 global currencies, fluctuation and 19 years of historical data, and much more.

So by using fixer.io, you can incorporate almost any global currency data into your applications with simplicity and without the headache of managing all that information yourself.

Why do you need Exchange APIs?

Currency values ​​change. And, if you are into global trade, you need to know values ​​correctly to make sound trading decisions and trade currencies without any problems.

Currently, using an exchange API can help. It also has many benefits, including:

Accuracy

Currency values ​​are constantly changing, no matter how stable a currency is. However, when dealing with international markets, you need to understand the current rates thoroughly. For example, if you use an excellent Forex API, you will get accurate data that is updated regularly.

Many APIs are available that update data every 60 seconds, so you have the latest available plans to use.

Supports multiple currencies

In general, exchange APIs support a large number of currencies. For example, you can convert currencies and exchange easily with just a few clicks. It allows you to work with different global markets and manage your trades.

Comprehensive Data Sources

Currency exchange APIs collect currency updates from hundreds and thousands of data sources from various global banks, financial institutions, financial services providers, and other commercial sources. This is current and accurate data and historical data that may go back months or years.

Therefore, you can track the fluctuations of the values ​​to make intelligent decisions. In addition, you can also examine the data and make predictions.

Easy to use

Using exchange APIs is not a challenge. Instead, your developers can easily embed the API snippets into your website or apps. You can follow the detailed API documentation, example code, and simple API structure in doubt. You also get a lot of features like a dashboard to access the tool, an option to change currency, change settings, notifications, etc.

Best Ways to use Currency Exchange API on your App or Website

1.  Fixer

Fixer.io is a lightweight and simple API for historical and current exchange rates. It is used daily by many SMBs, large enterprises, and developers due to its reliable data sources for real-time exchange rates.

Exchange rate data is simplified every 60 seconds for 170 world currencies. You can trust the sources as they come from banks, including the European Central Bank and financial data providers.

Also, your connection with the Fixer API is encrypted using bank-grade 256-bit SSL encryption. Moreover, it is also easy to implement the API in 10 minutes using the intuitive code samples, simple API structure, and detailed API documentation.

Fixer has scalable volumes and a guaranteed uptime that responds in milliseconds. It also includes time-series data and separate endpoints for converting individual currencies. In addition, you can get historical data up to January 1, 1999. You can also get help from the dashboard area of ​​the control panel, where you can access the QuickStart tool to test endpoints of the API with a single click.

Get a free API key, 100 API calls/month, hourly updates, and historical data. If you want SSL encryption, additional API calls, base currencies, exchange endpoint, etc., you can opt for the paid plan starting at $10/month or $8/month billed annually.

2.  Currencylayer

Get reliable currency conversions and exchange rates for your business with Mint, a real-time JSON API for 168 global currencies. Furthermore, it collects data sources from banks and commercial sources and is compatible with any programming language and application.

The data solution has JSON format for easy integration, compatibility with multiple applications, and maximum usability. You also get advanced features like source currency conversion, currency conversion settings, single amount conversion, historical data, and more.

Get instant access to historical data for the last 19 years, precious metals, and 168 world currencies. Ensure encrypted and secure data streams by connecting to an API over standard HTTPS. After registering, you have access to API functions through their documentation.

You can track API practice monthly or daily and get automatic notifications when low levels. In addition, Currencylayer supports mobile apps, back-office systems, and currency converters worldwide.

Select your subscription according to the time you want to receive the exchange rates from 60 seconds to 60 minutes. Currencylayer is free for 250 requests/month. If you want more, go for $9.99/month, including higher volume and basic features.

3. Exchange rates

Exchange Rates is an intraday, historical, and real-time market data API that provides an easy-to-use and free REST API interface that exposes stock market data worldwide in JSON format. Get reliable, accurate, real-time exchange rate data for thousands of currencies, updated every 60 seconds.

The Exchange rates API integrates with valuable exchange rate sources that provide accurate and up-to-date rates for over 200 currency pairs. Because of its scalable infrastructure, it can handle API requests from a few to thousands per second. You also have immediate access to various accurate currency pairs right from the start.

It’s free for up to 250 requests/month and will cost you $9.99/month for 10,000 requests/month with HTTPS encryption, source currency switching, hourly updates, and other basic features.

4. Currency API

With the DEVISE API, currency conversion is easy, which offers the latest exchange rates with one API call. Receive results in XML or JSON format with 256-bit encryption to protect your data. It is rated 9.8 out of 10 on RapidAPI for its quick response.

The CURRENCY API provides hourly updated exchange rates for over 170 currencies and historical rates from 2010 to the present. Just make a single request, and the CURRENCY API will quickly convert multiple currencies for you.

It has a scalable infrastructure with guaranteed availability of 99.99%. The tested average response time is 61 milliseconds. You can try sample code including JavaScript, Curl, PHP, and Python.

Get 100 queries per day for free and subscribe to a paid plan if you want more, from 1000 queries per day to 100000 queries/day. You can request your custom requirements if you need unlimited access or a dedicated node.

5. Open exchange rates

Power your dynamic brands, organizations, and startups with Open Exchanges Rate Currency Data API. Get reliable and consistent currency conversion and exchange rate data for your business.

The Open Exchange Rates community creates over 200 open-source plugins and libraries for frameworks and languages. More than 1,000 developers trust its API because it’s fast, affordable, and flexible. In addition, it offers data in JSON format with quick technical support and easy documentation.

You’ll appreciate the scalability from a single query in a month to hundreds of questions in a second. In addition, get historical and current exchange rates for 200+ global currencies along with conversion APIs and time series.

Use the Open Exchange Rates free plan, which offers 1000 requests/month and hourly updates. You can renew your requests per month according to your request, starting at $12/month. Or choose annual payment at checkout to enjoy two free months each year.

Final Words

A top-most exchange API like fixer.io can give you accurate currency information and convert or exchange currencies quickly and securely. So choosing it will be a reliable Forex API, and it will help you run your trading operations smoothly to get more profit.