If you are dealing with money and finances, you probably have a lot of questions and doubts when come to using tech solutions for your business or personal finances; that is why you can learn all about it in this post!
If you are wondering what exactly API stands for and what it can do for them. API means Application Programming Interface, and the main purpose of this device is to connect software applications.
It allows these different applications to communicate with each other in order to enhance the performance of a single application; in this case, we are going to talk about its significance in the financial sector, particularly in currency conversion.
If you or your company have to deal with clients from all over the world a simple exchange rate mistake can lead to huge losses.
A forex API has many uses in the world of finance. It can provide live feeds of currency quotes as well as historical data on past rates so that investors know how their investments are doing. The best Forex APIs will also allow users to set up alerts when certain conditions occur within their portfolios or trading strategies.
That is why we recommend you try out this API that provides all you can need in your financial activities and also can learn more about it!
Exchangr
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
For various functions, the API includes five customizable endpoints. The live endpoint provides real-time exchange rates. The historical endpoint provides historical currency rates. The convert endpoint converts multiple currencies, the time-series endpoint provides exchange rates over a specified time period; and the fluctuation endpoint provides currency change parameters.
Exchangr now accepts 164 currencies and 8 cryptocurrencies from customers all around the world. Before being given to clients; data is gathered and algorithmically integrated from a range of commercial forex data sources and institutions. It updates data at 60-minute intervals up to 60-second intervals.
To utilize Exchangr, you must first:
- Sign Up here and obtain your API key
- Select the symbols for your currencies and the endpoint.
- Click run!
Also published on Medium.