If you work in a technology environment, you’ve probably heard of APIs at some point. For the last few years, these acronyms seem to be everywhere and, more often than not, you haven’t stopped to think about what an API means or what it’s for.
API stands for Application Programming Interfaces, an indispensable tool for things as simple as doing a search on Google Maps or ordering your dinner on apps like Uber Eats or Glovo.
In short, APIs allow us to connect and build new services, but without the need to reinvent the wheel every time we want to implement something new. Basically, they allow us to use code or applications already created by others, and include them in our application to take advantage of their functionalities, through a communication system.
How does an API work?
Imagine that an API is a kind of universal telephone, which allows two products or services to communicate with each other in a simple way.
Humans can express our thoughts, feelings, needs or ideas through written words, symbols, signs or gestures.
In order to communicate with computers, we need certain user interface elements such as a menu, graphic elements or keyboard and mouse to do so.
In contrast, software or applications do not require this user interface to communicate with each other. Instead, they exchange data and functionality through machine-readable interfaces or Application Programming Interfaces (APIs).
While the term API may sound very technical to you, the truth is that these are tools that you use in your day-to-day life, for example:
- One of the main examples of APIs that we use on a day-to-day basis are weather query applications and snippets that are embedded in Google searches.
- Also the options to log in to certain applications using our Google, Facebook or Twitter accounts.
- Some travel booking websites also use an API, with which they can offer you the best deals from each hotel and also from each travel website.
Why does your company need an API solution?
First of all, an API allows you to connect multiple systems to offer more services and products to your customers, this way, you can cover new needs that arise as technology advances.
This could be the case for traditional banking or digital banking, when their customers request the use of crypto services. For these entities, it is much easier to implement them through an API service, such as Bit2Me Crypto API, than to create their own services from scratch.
Why? Very simple: implementing an API like Bit2Me’s allows you to take advantage of all the technological infrastructure, all the security and all the solvency of a company with several years of experience in the market.
It also offers you a “turnkey” tool to avoid wasting time in long and complex developments, anticipating market trends and the needs of your customers.
How can Crypto API help your business?
Bit2Me’s Crypto API allows you to implement in your business a series of products and functionalities to cover all your customers’ needs. For example:
Crypto information
The “Market API” module allows you to install a platform with real-time information about cryptocurrency prices. This module offers you the possibility to create a hub with simple and advanced graphs, real time prices and also a history of cryptocurrency prices over time.
Custody
Nowadays, many banks and investment firms, such as Nasdaq, are starting to offer cryptocurrency custody services. This is a service in which the user deposits his cryptocurrencies, so that the entity is responsible for their security.
This module creates an integrated wallet that allows sending, receiving and storing cryptocurrencies securely, with multiblockchain, multiwallet and cost-optimized options for all operations, including massive cryptocurrency withdrawals.
Staking Services
With Ethereum’s shift to a Proof-of-Stake consensus mechanism, based on ETH staking, analysts point to a massive adoption of cryptocurrencies, as entities and governments could use staking as a way to increase their profits.
Crypto API has an Earn module, with which you can implement a staking service to passively grow your clients’ assets. This service offers flexible staking conditions, as well as daily and weekly profits.
Cryptocurrency trading services
Cryptocurrency trading services are increasingly demanded by users. Some entities, such as PayPal or digital banks like Revolut, have already started to offer such trading services.
The Crypto API trading module allows you to implement a trading service in a simple and fast way, without having to worry about the infrastructure, since you will take advantage of Bit2Me’s infrastructure.
With this module you will be able to offer your clients the option to buy, sell and exchange more than 150 different cryptocurrencies. In addition, they will take advantage of the best exchange conditions, thanks to Bit2Me’s infrastructure.
As you can see, implementing an API like Bit2Me’s allows your business to offer new services that would otherwise require a long design and development process.
Bit2Me Crypto API has two integration modes with which you can start offering services in a few hours or, if you prefer, opt for an implementation model with code development, with which you can customize our solution as much as possible to fully adapt it to your needs.
