If you want to sell your products in other countries, or create an app where you show forex prices, a free currency conversion API is exactly what you need.
What is currency conversion?
Currency conversion is the act or process of converting one currency into another at current exchange rates. A currency converter can be a stand-alone computer program or web service, built into a spreadsheet application, or website. Currency conversions are necessary for the purposes of international trade and comparative economics.
Why should you use a Currency Conversion API?
If you are a business owner, you know that you must be competitive in order to stay alive in your industry. Your competitors will all be using different opportunities to make more from their customers, so why shouldn’t you? One way which is effective and profitable is by using a Currency Conversion API.
Currency conversion takes place when you select a currency other than your default currency, which is different from changing the number of currency symbols. For example, if you are a Canadian business that only deals in Canadian dollars and have your website set to accept payments in USD, then visitors from the US will be shown prices in USD. When they submit their credit card information, their credit card processor will show the payment amount in USD, not CAD. When you want to charge a customer using their preferred currency (such as USD for someone who is traveling internationally), then you would need to use an API that does currency conversion.
Forex rates are the present and future exchange values for various currencies. You can quickly receive the most up-to-date exchange rate data using a Currency Conversion API. In the long term, this will assist you in optimizing your transactions.
What are the benefits of using Exchangr?
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
In short, the API provides five endpoints that may be customized for different operations.
- The live endpoint displays current currency rates.
- Historical currency rates are the historical endpoint.
- Multiple currencies are supported via the convert endpoint.
- Over a certain time period, the time-series endpoint exchange rates
- For every currency, the fluctuation endpoint returns change parameters.
The Exchangr API accepts 164 currencies from all around the world, as well as 8 cryptocurrencies. They combine the data obtained from a range of commercial Currency Conversion data providers and institutions using an algorithm. They do, however, update the data on a frequent basis, at intervals ranging from 60 minutes to 60 seconds.
Are you ready to get free currency conversion?
As a result, the Exchangr REST API endpoint has a variety of currency information. This may be used in any programming language and on any platform. Here’s an example of how you can go about doing it. It demonstrates how to convert any live currency into USD, GBP, or Euro. The Exchangr REST API may be used in scripting, online, and desktop applications.
You may also utilize the free tier on Exchangr. If you want more API calls per month, we strongly advise you to upgrade your membership level. You may also reach out to them for a more personalized solution. We’re looking forward to seeing what you can do with a Currency Conversion API!
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Best APIs For Currency Conversion In Real-Time
Also published on Medium.