How Our Currency Conversion API Makes Your Lives Easy
The most important tool for international investing and trade is a currency. You must stay current on currency conversion rates whether your organisation trades in the forex market, imports or exports a variety of goods and services, or both.
By utilising the most recent technical discoveries and advancements, people and corporations can trade or invest internationally from nearly anywhere today. However, keeping track of constantly varying currency conversion rates is laborious. Using a currency conversion API, you can get historical and real-time forex data.
It sounds like you? Learn more about the features, benefits, and relevance of the currency exchange API by reading on.
What Does Currency Conversion API Mean?
The exchange of information between two software programmes is made possible through a group of instructions known as an application programming interface (API). You send a request from a web application or server and get a response when using an API. To swiftly obtain the currency conversion value, the software programme establishes a connection with the currency exchange API.
Technology is currently transforming financial services. Anyone with a gadget and an internet connection can conduct cross-border transactions in the modern global community. You can convert currencies for a variety of applications with the aid of our API for exchange rates.
Why is the Access to Currency Conversion Rates Crucial?
Using real-time currency conversion rates could help you save time and money. To find out how much the other currency is worth, you won’t need to go through numerous websites. Similar to that, using a currency converter API makes getting prices easier.
By having precise information of currency conversion rates, you may make informed selections.
Reasons to Leverage Our Currency Converter API
Using the most precise currency converter, as was previously said, can help you save time and resources when obtaining conversion rates. In less than a second, these rates are updated. Users no longer have to be concerned about the dependability and correctness of currency conversion rates as a result. As a result, it is easier to undertake international fund transfers and engage in currency exchange when using the data as a reference.
Significant advantages of using API for currency conversion include the following:
- Reliability and Accuracy
If your company conducts regular business with foreign markets, exchange APIs may be of use. These APIs offer millisecond-by-millisecond currency conversion rates in real time. You are given access to a precise data stream on currency conversion, which you can use as a reference feed while placing trades. You are capable of making informed business judgements with assurance. - Supports Wide-Ranging Currencies
Numerous currency pairs are supported by the live currency conversion API. As a result, users may learn how much different currencies are worth in their own local currency. With the aid of this tool, managing international purchases is made simpler. You may make educated business decisions and avoid unplanned expenses brought on by unfavourable exchange rates by moving money at the proper time. Similar to how you can use a price reference to trade currencies and conduct business on several international markets. - Aggregated, Unbiased Data
Well-known market data providers collect currency data from numerous trustworthy organisations, interbank networks, and broker-dealer networks, and then deliver it in real time. As a result, users don’t need to worry about the currency conversion rates’ correctness and dependability. - Faster Currency Conversions Using Our Endpoint
You can use our convert endpoint conveniently to get currency conversion rates for the desired currency pairs instantly. You need to provide the currencies you want to convert from and to, and also the amount you want to convert. The endpoint will provide the accurate calculation for the currency you will receive.
Here is an example:
{
“base_currency”: “EUR”,
“endpoint”: “convert”,
“quote”: 0.88175,
“quote_currency”: “GBP”,
“requested_time”: “Tue, 24 Jan 2023 09:57:32 GMT”,
“timestamp”: 1674554252,
“total”: 8817.5
}
Additionally, you can build a currency conversion widget on your website by using our convert and live endpoints.
5. Productivity and Safety
Reputable data vendors use SSL encryption and other technical safeguards to protect the APIs they provide. Similar to this, apps and websites’ currency converters operate swiftly and accurately. Outstanding performance and security are always to be expected.
How Our Currency Converter API Makes Your Lives Easy?
Since it is impractical to “keep” currency conversion data, Exchange API simplifies the currency conversion procedure. Rates of currency conversion frequently change. As a result, having access to reliable forex data via our API is crucial. You don’t already have an API Key, do you? Please register for free.
- Wide-Reaching Delivery Methods
Renowned data providers offer reliable and accurate forex data in various delivery formats, like CSV files, Excel files, Google Sheets, REST API, WebSockets, SocketIO, and FIX. As a result, users can choose the appropriate distribution strategy based on their technological needs. - Information on Currency Conversion that is Easy to Find
Real-time and historical currency conversion rates can be easily acquired by following a few simple steps. Developers, analysts, and traders can obtain data on currency conversion thanks to the API. - Added Features that Simplify Your Life
Users can import historical OHLC data for the chosen currency pair and time frame into MS Excel using a plug-in we provide. You can retrieve tick-level historical and real-time currency conversion rates using endpoint exchanges. Using an API endpoint, you can check whether the market is open or closed. - Excellent Learning Resources
TraderMade offers comprehensive documentation with many examples and tutorials to help you retrieve forex market data using a range of well-liked programming languages.
If you are keen in developing a currency conversion app, or use our currency conversion API with various popular programming languages, our following tutorials can be an excellent learning resources for you:
i) Build Your First Currency Converter in Python
ii) How To Use The Currency Conversion API with PHP, Python, and Other Popular Programming Languages
iii) Understanding Our Online Currency Converter: Your Ultimate Guide
Also try our online currency converter backed by real-time forex rates:
TraderMade’s Online Currency Converter
5. Amazing Support
To integrate data and fix technological problems, the data providers give unparalleled technical support. Users get access to email and live chat support from their market data experts. Developers can add retrieval methods for conversion rates by integrating the currency rate API into their programmes and websites. So how do these APIs enhance web pages and applications? Our exchange APIs can be used as a reference feed, but not for actual trading and exchanging, as was previously explained.
Benefits of Currency Rate API for Businesses
Your trading selections are influenced by a reference feed provided by a trustworthy and accurate currency exchange API. Similar to this, developers can leverage data integration to assist users of their apps and websites in retrieving accurate market information.
Businesses gain from TraderMade’s Currency API in a variety of ways, including:
Users can obtain precise and trustworthy information because to the comprehensive API infrastructure.
With the lowest possible latency, you can send hundreds of data queries every second and receive exchange rates.
The currency rate API is included by fintech businesses into their trading platforms, websites, apps, charting tools, and trading platforms (the API itself cannot be used for trading). But it can help with the procedure).
Conclusion
The article discusses a number of technical APIs for currency conversion. You must have realised how important it is to collaborate with a reputable market data provider to get the best currency exchange API that will simplify your life.
Accurate, unbiased, and consolidated forex market data is provided by TraderMade. We are devoted to providing market data to everyone. Utilize our API for currency conversion to consistently make smart business decisions.
Originally published on our website: How Our Currency Conversion API Makes Your Lives Easy
