Currencylayer API Vs. CurrencyFreaks | Choose the Most Reliable Exchange Rates REST API

Are you trying to decide between CurrencyFreaks and Currencylayer for your Exchange Rates API needs? This blog post will help you choose the best option. Exchange rates REST APIs are essential for businesses and developers in international transactions. They provide real-time and historical exchange rates. However, not all APIs are the same, so choosing the right one is important.

We'll compare CurrencyFreaks and Currencylayer based on their features, pricing, and performance. We'll look at:

• How easy they are to use?

• How accurate is their data?

• How often do they update them?

• How good their customer support is?

Whether you're a developer or a business, this comparison will help you decide. So, let's find out which API is the most reliable Exchange Rates REST API!

What is an Exchange Rates REST API?

An Exchange Rates REST API gives you various currencies' current and past values for various purposes.

For example, imagine you're building an app to compare prices in different countries. You can use an Exchange Rates API to show these prices in a way that makes sense to your users.

Or, if you're creating a website to help travellers plan their trips, you can use an Exchange Rates API. It can help you to tell them how much money they'll need in different countries.

It is important to note that the exchange rates of the REST API come with different endpoints. If you want to convert currencies, you should use the convert endpoint. The same statement goes true for the historical exchange rates. We will show you the endpoints of our chosen APIs in the coming sections.

How Do You Choose the Most Reliable Exchange Rates REST API?

Choosing the most reliable Exchange Rates REST API is an important task. It means picking one that gives you the correct currency values for your app. Here's how to do it:

Accurate Data

Find an API with correct and dependable exchange rates. Check what other users say about its accuracy.

Update Frequency

Choose an API that updates often. It should update rates at least once every hour.

Historical Data

Decide if you need to see past exchange rates. Some APIs offer this, which is great for looking at trends.

Easy Integration

Look for an API that's easy to add to your app. Good documentation and examples can help.

Supported Currencies

Make sure the API supports the currencies you need. Some APIs might not have all the currencies you want.

Reliability

Pick an API that works well and doesn't have a lot of downtime. You want your app always to have access to the exchange rates.

Cost

Consider how much the API costs. Some have fees or limits on how much you can use them. Find one that fits your budget and needs.

What Are the Two Popular Exchange Rates REST APIs Available in the Market?

When looking for the right API, you will find multiple options available in the market. However, we have shortlisted the two most popular APIs used among developers. Let's explore them.

CurrencyFreaks

CurrencyFreaks is a currency API created by JFreaks Software Solutions. It is a small team based in Lahore, Pakistan. They have three years of experience in software development. Moreover, they specialize in Data Analysis and location-based application development.

After noticing a need for a simple, reliable, and affordable currency API among developers, JFreaks launched CurrencyFreaks. This API offers up-to-date currency data for world currencies. It also includes fiat currencies, metals, and cryptocurrencies.

We get our data from trusted sources in foreign and crypto exchanges. CurrencyFreaks is JFreaks' second API for developers, showing our commitment to providing useful tools for development. We have also developed other APIs for developers to use more easily.

Currencylayer

Currencylayer provides an easy-to-use REST API with real-time and historical exchange rates for 168 world currencies and precious metals. It delivers data in a universally compatible JSON format. The currencylayer API is managed by Apilayer. Apilayer is the company behind popular SaaS products like Invoicely and Eversign. With over 4 million customers worldwide, Apilayer aims to help businesses and individuals automate tasks and focus on product development.

Let's create a comparison table between these APIs to help you make better decisions.

Currencylayer Vs. CurrencyFreaks

Conclusion

Consider your specific requirements when choosing between CurrencyFreaks and Currencylayer for your Exchange Rates REST API needs. CurrencyFreaks is reliable and affordable, focusing on simplicity and a wide range of supported currencies. It also focuses on cryptocurrencies. Currencylayer provides real-time and historical exchange rates with global coverage and easy integration.

CurrencyFreaks encrypts all plans if security is crucial, while Currencylayer offers it only for paid plans. CurrencyFreaks also offers location-based currency conversion, which Currencylayer lacks.

Your choice depends on your project's needs, budget, and support requirements. Both are popular options with unique features, so evaluate them based on your criteria before deciding.

FAQs

What is a REST API?

A REST API is an interface that allows systems to communicate over the internet.

Why Should You Choose CurrencyFreaks Exchange Rates REST API?

Choose CurrencyFreaks for reliable, affordable, and simple Exchange Rates REST API with wide currency support.

What Are the Benefits of Using an Exchange Rates REST API?

Exchange Rates REST APIs offer real-time and historical exchange rate data for various currencies.

How Do You Integrate the CurrencyFreaks Exchange Rates REST API?

Integrate the CurrencyFreaks API by accessing its endpoints and handling the returned data. Create an account at CurrencyFreaks to get the API key that helps us fetch the data.

Sign Up for free at CurrencyFreaks and get real-time and accurate rates for your applications.