Let’s start with cryptocurrency APIs. An Application Programming Interface is a software solution that allows interaction between two or more applications. APIs are used to book rooms, order food, pay for processing, and many other purposes.
The APIs for cryptocurrency also work in the same way as the APIs described above. Crypto APIs can interact with different crypto exchanges and markets. This is the main difference.To understand APIs, you must first be familiar with data collection.
Importance of Data collection
Data collection is the backbone of every APIs. Data collection is simply a step-by, sequential process of gathering information related to a specific subject. In the case of crypto APIs, the data collected is related to different crypto projects and the currencies they are associated with.
APIs gathers data from reliable sources, process it, and store it. The stored data can then be analyzed and organized according to the user’s needs.
APIs offer different methods of collecting data. Manually collecting massive amounts of data is virtually impossible. Let’s look at some other methods of data collection.
- Data import: This is the process of copying data from one source or program to another. Data scientists can use a variety of methods to import data from files, databases, and other sources.
- Downloading data from a source: A large amount of data is saved on a storage device to make it a permanent copy. These data are later used for a longer period by scientists or data developers.
Benefits of Web APIs
It might seem obvious, but what are the benefits of crypto web APIs for me? Let’s get to the bottom of it.
- Whether you are a crypto trader, APIs are a great tool for developers, analysts, and enthusiasts to make your crypto journey smoother.
- If you are a developer, You can use crypto APIs for building a trading bot, payment platforms, or business solutions.
- As an example, let’s say you trade or invest in cryptocurrencies. Crypto APIs can be used to track your portfolio and place buy- or sell orders. APIs can also be used to view charts, monitor live prices, and set multiple price alerts.
- APIs are critical in increasing and improving productivity by accelerating software development that is more efficient and simpler.
- Developers don’t need to waste their time or energy building from scratch. Software development costs have been significantly reduced as APIs manage important data downloads and imports.
Also read: Top 10 Threats To An Open API Ecosystem
Top 10 Cryptocurrency APIs for Developers
Let’s now dive in to find the best cryptocurrency APIs.
1. CoinGecko API
We’ll start the list with CoinGecko. it is one of the most affordable crypto APIs. CoinGecko API is a great option if you are looking to build a project with a limited budget.
The CoinGecko API gives access to important crypto data that is equally useful for traders and developers as well as scientists. This data includes live market prices for cryptocurrencies, tickers, and historical data as well as trading details and technical charts. CoinGecko also provides this data for free.
Since its inception in 2014, CoinGecko has been a prominent data provider for crypto assets. CoinGecko API users have the opportunity to obtain data for over 12,000 cryptos that are listed on 500+ cryptocurrency exchanges.
All data is accessible to the public at a limit of 50 calls per hour, which is sufficient for most crypto-related use cases. You may want to have higher rates per minute, priority email support, and Slack chat support. You can also opt for paid CoinGecko API Plans. Paid plans start at $103/month if billed annually.
2. Coinmap REST API
There has been an increase in cryptocurrency acceptance for payments over the past few years. Let’s say you’re a developer and want to create an application that tracks crypto-paying places. Coinmap API can help you get important information.
The Coinmap REST API provides access to a huge database that contains information about thousands upon thousands of crypto-accepted merchants and shops, as well as grocery stores, cafes, restaurants, and other businesses. This API is easy to use and doesn’t require authorization. It also has a flat data structure that uses a simple data format.
Data developers can list their venues by using the appropriate longitude, latitude, and categories. Additionally, the Coinmap REST API allows data developers to add, edit, and delete venues based on appropriate use cases.
Coinmap REST API does not charge developers for access to their data. They only ask for credit from Coinmap REST API and its contributors for data used.
3. CoinMarketCap API
CoinMarketCap API gives you access to information about thousands of listed cryptocurrencies on over 300 global exchanges. Their API is available for developers to create software or apps that can backtest trading strategies, and receive live price alerts and charting tools. The data can also be used to perform experiments with historical crypto prices, and to track portfolios.
This API has a major disadvantage: the data usage is very limited. It costs more to get more data. You will only get 10,000 calls per month for free, and no historical data.
When billed annually, the monthly cost of CoinMarketCap API’s paid plans starts at $29 per month. This plan allows you to make 40,000 calls per month and has a 1-month history conversion. If you need more call credits, you can choose from other high-paid plans.
4. Coinlayer API
CoinlayerAPI offers live price data for over 385 cryptocurrencies. Developers can use crypto data more efficiently with the improved algorithm created by Coinlayer API. The data can also be gathered from more than 25 crypto exchanges.
Coinlayer API provides the following services to crypto developers:
- Live data: Get the most recent crypto exchange rate data.
- Time frame data: This data provides filtered data for a particular time period.
- Historical data: This allows you to check data from an earlier date.
- Data on rate fluctuations: Provides information about rate fluctuations at a particular time.
- Conversion endpoint: This is used to convert rates between cryptos and target currencies.
- Endpoint of the list: Lists all cryptos and target currencies.
Coinlayer API offers a free plan that allows 100 requests per month and provides historical data as well as hourly updates. To access more data, target currencies, and faster updates, you can use paid packs. The Coinlayer API paid pack costs $9.99 per month.
5. Coinpaprika API
Coinpaprika API is another cryptocurrency API that provides data about thousands of cryptocurrencies. This API contains a list of over 8,000 crypto assets, sourced from 360 exchanges.
Coinpaprika API allows developers to access data about 27,000 crypto trading pairs. Coinpaprika API is known for its fast response times and 337 ms median latency.
The Coinpaprika API was designed specifically for developers. Their API was created to provide a user-friendly interface that is easy to use for both crypto scientists and developers. Developers can, for example, access Coinpaprika API’s open-source libraries that include popular programming languages.
6. Coinbase API
A crypto developer must be flexible when building an application or project. Coinbase API Coinbase API comes into the picture by providing flexible and secure features.
The Coinbase API technology was developed with Node.js. It supports many cryptos like Bitcoin, Ethereum, and Bitcoin Cash. You can also create addresses and crypto wallets for these cryptos.
Cryptobase API is not compromised on its market monitoring and real-time notifications. Historical data can also be used to analyze prices.
If you are a developer and you only need to process 10,000 requests per hour, CoinbaseAPI is free for you. You can upgrade to CoinbasePro for more advanced features. CoinbasePro offers exciting features like programmatic trading.
7. Cryptowatch APIs
Cryptowatch APIs are made up of two APIs: REST API and WebSocket API.
REST API allows you to access real-time APIs to stream cryptocurrency market data. Developers can also access data from 23 exchanges and thousands of crypto markets. REST API allows you to retrieve live prices, market statistics, and order books. It also provides data about recent trades.
Cryptowatch Market Data REST-AP supports Bitcoin, Litecoin, and Ethereum.
WebSocket API allows crypto developers to stream real-time market data from 26 major exchanges. WebSocket API maintains three official software development kits (SDKs), Node.js and Golang. Cryptowatch API provides support for developers who want to use a different SDK.
Let’s say you want to use their free services. You can access charts, track portfolios and chat with members of the community to customize your terminal. Cryptowatch APIs will charge you Bitcoin or credit card credits to get premium services.
8. Nomics API
Nomics API is another data provider, with access to over 400K markets as of the writing. Additional information, Nomics API has a database that covers 795 exchanges as well as 53K crypto tokens.
Nomics API is a tool that allows crypto developers to create charting and mobile apps, strategy backtests, and trading bots. It also lets them price websites, portfolio valuation tools, and pricing websites. You can also access the extensive library of cryptocurrency market data.
Developers can access real-time market data with a quick API response time of just 51 milliseconds. Nomics API only allows one request per second. To access more requests per second, you will need to purchase commercial paid plans.
Are you looking to find cryptocurrency APIs that offer real-time prices and market data for crypto markets? Great! In this case, CoinAPI is the best choice.
CoinAPI’s market data history database contains 507 TB. This API also supports more than 16K crypto assets. The data is gathered from 337 cryptocurrency exchanges, which receive 46K+ market data updates every second.
The CoinAPI data is well documented and can be used by crypto developers. These data can be downloaded in CSV, XML, or JSON formats.
You are creating an application You can continue to use CoinAPI’s free plan if you have only 100 daily requests. Otherwise, You can also subscribe to their monthly paid subscription starting at $79.
10. KuCoin API
Are you looking to use crypto transaction APIs for your business? You might want to give the KuCoin a try.
The KuCoin API design makes it easy to trade on cryptocurrency markets. These exchange rates are compatible with both web-based and mobile applications. KuCoin API offers the official SDKs Java, Go, and PHP as well as Python, Level3, Node.js, and Level3.
You can benefit from the wide range of cryptocurrency data available on KuCoin API, whether you’re a developer or a crypto scientist. The KuCoin API provides stable data that can be used by developers to create algo trading apps.
KuCoin API allows you to access their data library for free. Your call limit is 1,800 calls per minute.
cryptocurrency APIs are powerful and flexible tools that allow you to build crypto projects. The best APIs have been discussed, but it is up to you to choose which APIs work best for your needs.
It is possible to create a checklist to help you choose the best cryptocurrency APIs. A checklist should include information about the features, budget, required additional features, and data updates per second. You can also list additional features depending on your project needs.