The Free Currency API is one tool from the internet that handles exchange rate conversions, and this is especially useful in the case of traveling to other states that use different currencies. However, some are still hesitant or sometimes intimidated by this online system. One should not think this way as this has been made to make things much easier. Before tackling the reasons for using the free currency API, it would be wise to know what an API is and what this essentially does.
What is an API?
An application programming interface, also known as an API, could be compared to a bridge connecting two cities of states as these are similar in that respect. These interfaces are the connectors between computers or computer programs that include applications. This is strictly a software interface that essentially offers its services to another linked software. However, APIs may be defined by either a specification, documents or recorded standards, or an implementation when the system involved meets this standard.
Unknowingly, we all use APIs in the many facets of our daily life, and they are much more common than you think. One example of a “daily API” is the weather information we find on our browser. A simple search would show information from another software. This does not limit itself to only weather as this could involve news from politics and even sports as well. Another example is much more common as people nowadays make use of online accounts, and some may use their information from Facebook or Google to create an account from another interface. The third instance of API use is money, currency, and conversion, and this deserves more attention.
Reasons to Use Currency Conversion APIs
Some people are skeptical of the nature of currency and online usage. People would much rather go the old-fashioned route of traveling to banks or other money converting businesses to do their business. However, there are a few reasons why we should start considering this API method.
1. Lightning Fast
Much like the majority of the things you see around you today, people have either greatly improved certain practices or invented something new to make the same practices much easier to do. In other words, everything has become incredibly convenient, and one of the aspects of this convenience is the speed at which we can accomplish things now.
The same may be said about Currency Conversion APIs as one designed for performance, backed by a strong infrastructure as well, would accomplish the process in a matter of minutes. This also includes the fact that responses are made in a fraction of a second.
2. High Uptime
As you would imagine, online systems do require some sort of maintenance attached to it. These are usually troubleshooting problems that will appear in the systems, but this should not be a reason for your hesitance. This is because employees constantly monitor the activities of the entire system, leading to a consistent uptime in the system that runs with almost no problems at all.
3. Historical Data
As a bonus to these interfaces, this also provides not only the current data when one is making transactions, but these APIs also possess historical information regarding almost all currencies since the year 1999. This is very useful information in a sense when you need to strategize the exchanges you need to make or if you are generally curious about the state of the currency that you are using.
There is no question that APIs have made modern-day living much more convenient and easy than in the past, and one of these improvements has been seen in the currency converting practice. Most especially in this time where one could be way too busy to devote time for something or could potentially be late for bank appointments, one should not hesitate to use this interface. So don’t be hesitant or afraid to utilize the API as this would make things much easier!