Does your business supports multiple currencies? Then you’re in luck, Forex APIs are the perfect tool for you!
Foreign Exchange APIs can increase your bottom line by helping you determine the best time to buy and sell foreign currencies, thus minimizing risk and maximizing profits. Here we will tell you about three industries that can benefit from Forex APIs:
- Tourism Business. Forex APIs can help you understand how the price of the dollar affects your company’s finances; whether you’re a hotel chain or an airline company. While some destinations may be less expensive at different times of the year; a tourism company with a foreign exchange API has access to real-time market trends. This allows them to adjust their prices appropriately and maximize their profits.
- Industry of E-Commerce. If you run an e-commerce business that sells goods or services internationally; your customers will expect accurate pricing information based on their specific location and currency. Rather than spending hours manually converting prices into different currencies, an e-commerce company can use a currency converter API to automatically update prices for each customer based on their location.
- Fintech companies are among the most profitable in the world; because they provide simple solutions to problems that both consumers and businesses face. A lot of these revolve around money and finance; so if you want to start a fintech company, the first thing you should think about is getting a Forex API.
Which of the available Forex APIs is the best to use?
Exchangr is a currency conversion API that uses JSON data to provide real-time rates. This API supports rates for 164 currencies; as well as eight cryptocurrencies. That means, it offers 172 different currencies in total! In addition, Exchangr provides approximately 30.000 currency pairs!
Moreover, Exchangr provides foreign exchange rates and currency conversion through a single API. This tool is inexpensive, because, if your needs are simple, you can only use the Free Plan and that will be enough. But, if you need more perks; you can access advanced features. Subscription Plans starts at Startup-friendly USD 10 per month!
Aside from getting rates and converting currencies, there are other things you can do. You can get: Historical Rates, convert single amounts, and get currency exchange parameters; among other things!
Furthermore, if you’re looking for a way to insert Forex Rates and Currency Conversion into your website without coding them; Exchangr is the solution you’re looking for. It offers Drupal Module & WordPress Plugin!
Use Exchangr in no time:
You can start using Exchangr without expending a cent and in less than 10 minutes. To do so, follow these steps:
First, register here and obtaing your own API key; this means you will get a unique combination of letters and digits provided to access this API endpoints. Second, to obtain rates, select the currencies in which you are most interested. And lastly, execute the API call. And you are finished! In a matter of seconds you will obtaing all the information you were looking for!
Furthermore, Exchangr API comes with an Extensive Documentation packed with simple instructions and code examples. To learn more about it click here.
So now you know! Start using Exchangr right now and benefit from it!
Related post: Who Should Use A Forex API?
Also published on Medium.