Have you ever wondered how applications that perform currency conversions are sure of the data they provide? From the outside, it may seem difficult to be sure, but in reality, it is not. Today, many businesses prefer currency converter API to use in financial matters. Almost every currency app you see on the internet uses this API. One of the issues that I attach great importance to in order to be the best currency converter app for businesses is to choose this API.

Using this API of a currency app gives businesses and developers a lot of speed and possibilities. With the advantages it provides, businesses can attract more visitors to their applications and generate organic traffic toward their applications. In this article, we will talk about why you should use a currency converter API in currency applications. Then we will get to know today's most popular currency converter API and integrate it into Python.

Why Is It Important to Use a Currency Converter API in Apps?

Using the currency converter API gives you great advantages in application development and production environment processes. For example, a currency converter API, such as a currencylayer API, has a free subscription plan. In this way, you can perform all tests and integrations free of charge in the application development process.

Then this API saves you the cost of obtaining and maintaining currency data instantly. In this way, you can easily and quickly access the currency data you need in your applications with a single HTTP request.

A popular currency converter API, such as the currencylayer, provides you with almost everything related to currency transactions. For example, it provides historical data, converts historical data, supports 168 currencies, and provides time frame data. When you want to obtain all these services yourself, there will be a great cost, and this API is very important for applications because it eliminates these costs.

How to Use the currencylayer API With Python?

In this step, we will integrate the currencylayer API into Python, the most popular programming language today, in just a few steps. We chose it as the currency converter API in this section because the currencylayer API is used by more than 250.000 businesses and developers and supports 168 official currencies for free.

Before starting the integration, let's sign up for one of the economical and comprehensive subscription plans offered by the currencylayer API. After this registration, we will be getting an API key.

After obtaining the API key, we will create a file named 'currency-converter-app.py' in the file path where we will develop the application. Then we will paste the following codes into the file we created.

With this code, we will make a request to the convert endpoint of the currencylayer API. Then we will print the conversion result we obtained in the console of the application. Before running the application, we paste the API key obtained after the subscription process in the 'YOUR-API-KEY' field.

Let's run the application with the command below.

After running the application, we will see that the following value is printed on the console of the application within milliseconds.

Conclusion

It is concluded that it is important to use a reliable and fast working currency converter API such as the currency converter API to develop a good currency converter application. Currency converter API offers many privileges to applications, such as rapid development, accurate data, and technical support.

FAQs

Q: What Are the Features That the Best Currency App Should Have?

A: There are some basic features that a good currency converter app should have. Some of those:

• Providing reliable data
• Fast working
• A high number of supported currencies
• Providing historical data
• Providing instant data
• Updating the data it provides at short intervals

Q: Why Is the Accuracy of the Data Provided by the Currency Converter API Important?

A: The accuracy of the data provided by a currency converter API is critical to applications. This API is often used in financial transactions. Therefore, in case of errors in the data provided by this API, businesses using this API may experience great financial losses, and they may even face legal problems.

Q: What Are the Best Free Currency Converter APIs on the Market?

A: Many free currency converter APIs are available in the market today. But not all free APIs are reliable. So the accuracy of the data they provide may be low. Listed below are some popular, reliable, and free exchange rate  API in the market.

• The currencylayer API
• The fixer API
• Exchangerates API
• XE API
• The currencyapi API