The fact that there are more than 900 different currencies in use today can be a little bewildering. As you might expect, there are a lot of currency APIs available to assist you in keeping track of them all. Not all of them, though, are suitable for your business. Consider these four aspects when deciding which real-time currency API is best for you
Personnalized Data Sets
Using a currency exchange rates API, your data sets ought to be modifiable. This is significant because, even though many companies provide data in the same format, they may not include all of the currencies you are interested in. It is reasonable to utilize an API that just offers those specific rates, for instance, if you wish to track exchange rates for one or more currencies but don’t need any other information about those currencies (such as their conversion rate).
Reliable
An API should be reliable this is because you want it be sure exchange rates are accurate and up-to-date. You can measure the reliability standard of an API (Application Programme Interface) by checking the history of the provider and looking at the number of years they’ve been in business. Their track record, achievements, uptime and support will give you a fair idea of the capabilities of the provider.
An API that has been around for at least two years is worth trusting. You can feel confident to transact business with them. Given that they’ve worked with them more frequently, an older organization may have greater familiarity with currency APIs than a newer one. The amount of daily traffic an API receives can be used to gauge its popularity.
This can help you get a feel of the API’s popularity and dependability. If there are numerous visits coming through often, the provider is probably maintaining accurate and up-to-date exchange rates.
Easy-to-use
It should not be difficult to use an API system. The finest APIs will be simple to test, comprehend, and integrate, as well as to understand and maintain. Consider using an API that delivers quality training materials and documentation if you have a solid understanding of technology but intend to outsource your integration or maintenance work. This will let you profit from all that an API has to offer while concentrating on other elements of your organization.
Flexibility
The API needs to be adaptable. An API provider must offer a wide range of alternatives for using their services because many developers want their apps to function in various ways. They should give a variety of choices for integrating real-time currency data into your app so you can choose the one that best suits your needs and circumstances because they can’t just offer one solution for everyone.
