Introduction of the cryptocurrency API has contributed to making the process of building applications and software related to this field simpler.
What is a cryptocurrency API?
This synopsis includes APIs (Application Programming Interface) that are specifically used for building crypto-related projects.
This is a mechanism that allows two system components to communicate and exchange data with each other, through a set of connection protocols.
Using these APIs helps developers quickly turn the complex world of cryptocurrencies into readable data. Thereby, accessing and acting in a simpler way.
Each cryptocurrency API will perform different missions, so choosing the correct to apply for the project is very important for developers.
There are many APIs that work with all cryptocurrency without any restrictions.
And conversely, there are also some more “picky” APIs as they only work with a few mainstream cryptocurrencies.
Role of cryptocurrency API
The main mission of these APIs is normally to track the prices of various cryptocurrencies, including volatility and overall market trends.
Some other types of APIs are capable of doing things like buying, selling, trading and paying.
Besides, they sometimes act as a “connector” between customers and the places where they will be able to use their cryptocurrency.
Developers can also build their own cryptocurrency APIs to complete the project in the best way.
List of best cryptocurrency APIs
CoinMarketCap API
CoinMarketCap is known as the largest cryptocurrency site in the market and has gained mainstream recognition.
CoinMarketCap API boasts a high-profile user base, including many leading cryptocurrency exchanges such as Coinbase and the Bank of Canada.
While offering a wide selection of over 2,000 different cryptocurrencies, if “real valuation data” matters to you, the CoinMarketCap API may not be the ideal option.
CoinGecko API
Recently, CoinGecko - a leading coinranking site in the market has provided their own cryptocurrency API.
They are integrated with almost any cryptocurrency exchange.
Therefore, if you are looking for a way to get data from some of the smaller exchanges, then CoinGecko API is the best choice.
With CoinGecko API, you will get up to 13 million free calls monthly.
One of the limitations of the CoinGecko API is that it estimates data freshness for 30 seconds and provides only snapshots.
CryptoCompare API
CryptoCompare is one of the oldest and largest data providers in the industry, with an impressive user base.
CryptoCompare API will be the most suitable choice for those who need a huge and detailed array of cryptocurrency data.
