When setting up a website that sells products or services online or operates a trading platform, up-to-date currency conversion is vital. Not having prices correctly displayed in the user's currency of choice can mean they go elsewhere, or if they do buy, you could lose out on potential profit on the transaction due to changing exchange rates.
To get around this, you should invest in a currency API to ensure the prices displayed are correct, regardless of where they happen to be looking at your site or if they wish to use cryptocurrency to pay. This might seem like a daunting prospect, especially if you are not tech-savvy. It makes sense to get help with this, but even if you are not implementing the API yourself, you will need to understand the process.
Choose the right currency API for your site
This is probably the most important step. In short, if you don't pick the right Currency API, then the rest of the process is irrelevant, as you will not get the desired result. You want to find one that works in real-time and covers all of the relevant currencies. In the modern world, this includes cryptocurrencies, which more potential clients and customers are starting to use.
For obvious reasons, you will need one with bank-grade security and Secure Sockets Layer SSL encryption. It will also need to draw its data from different sources, so it will still work if one fails. This is quite a checklist, but once you have found one that fits and also meets any other industry-specific criteria, you can move on to the next step.
Your API key
You will need to sign up with your chosen currency API, make your payment, or select a free trial if one is available. Once you have done this, you will receive an API key. This will be used to authenticate your requests, so keep it safe and don't share it with anybody. This is likely to contain 36 characters and acts like a password for the rest of the process.
Test requests and responses
Many currency API providers will supply code for you to use in the next stage of the process, and all you have to do is insert your API key where indicated. Requests are made of the API, and responses are typically in JSON. Once the API is active, you should test it before allowing it to go live, but if you have picked the correct one, then your real-time currency conversion should be running smoothly.
To wrap everything up
There are many benefits to having a currency API on your site, and if you wish to trade with customers and clients in other countries, it is essential. Even if you do not know how they work, you will know what they need to do for you, so finding the right one is vital. Once you have signed up with the right one, you will get your API Key and access to the code you need to add to implement the API on your site, and you can display real-time currency data to your site visitors.