What Are Crypto APIs, And How To Profit From Them?

Application programming interfaces enable communication with other crypto services and let you use their ready-to-use tools. Some APIs even let you create a new revenue stream. Let’s see how an API works and how you can leverage one.

What Is an API?

An API (Application Programming Interface) is a piece of software that allows applications to communicate with each other. APIs work like messengers: when one app needs some data from another, it sends the request via API and receives the answer from its counterpart.

In today’s interconnected world, barely any service works without relying on other applications. An Apple weather widget displays data from The Weather Channel; airplane ticket aggregators collect prices from airline companies; crypto trading applications can’t set the rates without the market data that they receive from other apps.

To understand the concept, consider a waiter as an API of the restaurant: he or she delivers you the data from the kitchen and makes them execute your orders. Image source

How Does API Work?

API spares developers from the need to do tons of excessive work – instead, it allows them to use the existing solutions. For instance, Apple doesn’t need to build its own weather service with millions of climate sensors worldwide – it can simply request the data from The Weather Channel via API and show it to its users.

An API can do much more than simple data requests, though: it also lets your platform enable another app to perform a certain task. Let’s say you integrate a crypto exchange API into your service. The swap tool will appear in your interface. When anyone uses it, the API sends the request to the API provider to execute the trade.

What Does Crypto API Do?

A cryptocurrency API lets you quickly implement the functionality that would otherwise take you weeks or months to build. If you want to introduce a certain crypto feature, all you have to do is find a service that offers this feature and connect its API.

Here are some types of crypto API solutions:

• Exchange. A deployed exchange API allows your users to make crypto swaps on your service supported by a third-party exchange app. You customers receive a handy swap tool that you don’t even have to develop.
• Buy & Sell. Some exchange APIs power not only crypto-to-crypto exchanges, but fiat purchases and withdrawals as well.
• Portfolio tracking. Many users shore their crypto assets on multiple platforms, and there’s the need for trackers to keep an eye on the whole portfolio at once. Crypto exchange APIs allow trackers to connect a user’s portfolio instantly and securely.
• Current exchange rates and historical market data. No crypto service can work properly without access to fresh market data such as coins’ prices, market cap, supply, and so on. Crypto market APIs can share this data with you.
• Access full nodes & block explorers. If you’re building a crypto service, you might need a blockchain node and explorer to test and deploy your functionality. Installing a node is an expensive and sophisticated task, but node APIs allow you to leverage existing infrastructure in minutes.

API is a win-win solution. By integrating cryptocurrency APIs, you save a lot of money and time since you don’t have to build new features from scratch, while your users can enjoy the new functionality of your service. Furthermore, there are many free APIs, and some of them even allow you to profit – like ChangeNOW’s Exchange API.

ChangeNOW’s Crypto API

The API by ChangeNOW allows you to easily deploy a crypto swap tool on your platform, be it a cryptocurrency wallet, exchange, media resource, or any other type of crypto app. The solution is fully customizable: it will seamlessly integrate into your platform’s interface. The API supports web services and mobile platforms as well.

The ChangeNOW’s exchange API will allow your customers not only to swap 380+ crypto assets (and the list of available coins is constantly growing), but buy and sell them for 75+ fiat currencies. We do all technical maintenance and provide support while you integrate and use the API.

How ChangeNOW’s API lets you create and extra revenue stream

With ChangeNOW’s exchange API, you receive a percentage from every crypto swap that your users make on your service. You can earn as much as you want: the percentage is set at 0.4% by default, but you can increase or reduce it. Whenever your income exceeds 0.002 BTC or the equivalent in another crypto, you can withdraw your earnings anytime in cryptocurrency or fiat.

The integration will take you no longer than a week: we have detailed integration libraries in Python, JavaScript, Java, and Kotlin, and we will assist you every step of the way while you deploy the API. A personal account manager and a dedicated support team will be at your service 24/7.

The ChangeNOW exchange API allows you to save months of hard work and thousands of dollars on developing your own crypto exchange. Moreover, it allows you to profit as you receive a percentage from any single crypto swap made with the integrated tool. To get the free API key, visit this page and get in touch with us.

Welcome to the NOW experience!