Crypto

How to Calculate Crypto Currency Exchange Rates with Coinlayer

Cryptocurrency exchange has recently become an investment tool where thousands of people become millionaires. It is one of the most popular topics...

Written by Danial Roncaglia · 6 min read >
How to Calculate Crypto Currency Exchange Rates

Cryptocurrency exchange has recently become an investment tool where thousands of people become millionaires. It is one of the most popular topics today. 

The biggest difference of the crypto money exchange from other investment tools is that the system is open 24 hours. 

As people’s interest in the cryptocurrency exchange increased, the applications where they could buy and sell cryptocurrencies were launched quite quickly.

How does it sound to get current crypto exchange rate data for more than 385 cryptocurrencies collected from more than 25 exchanges from a single application, as well as to access historical data? Yes, this is possible with the service provided by coinlayer.

What is Coinlayer & How to Calculate Crypto Currency Exchange Rates?

Coinlayer provides instant information of more than 385 coins with its service. Apart from providing instant data, it has a flexible service structure that also provides data up to 2011.

The operations you can do with the Coinlayer API are briefly:

Live Data: Query the API for the latest available exchange rate data.

Historical Data: Look up crypto rates for a specific date.

Conversion Endpoint: Convert amounts between cryptocurrencies and target currencies.

Time Frame Data: Query the API for crypto data in a specific period.

Change Data: Retrieve data about rate fluctuation in a specific period.

List Endpoint: Retrieve a list of all available cryptocurrencies and target currencies.

While doing all this, it uses 256-bit HTTPS encryption, which is one of the most secure ways in service communication, and offers Dedicated Support in case of any problems.

To access the documentation and more information provided by Coinlayer: https://coinlayer.com/

How Can You Calculate Cryptocurrency Exchange Rates?

How Can You Calculate Cryptocurrency Exchange Rates?
How Can You Calculate Cryptocurrency Exchange Rates?

Integration to Python Programming Language

Before proceeding with the code integration of the Coinlayer API in the code Python programming language, a suitable package must be selected and registered on the coins website and an API key must be obtained to use this service.

After obtaining the API key, we run the following Python code block.

import http.client

if __name__ == ‘__main__’:
  conn = http.client.HTTPSConnection(“api.coinlayer.com”)
  payload = ”
  headers = {}
  conn.request(“GET”, “/api/live?access_key=106*****13”, payload, headers)
  res = conn.getresponse()
  data = res.read()
  print(data.decode(“utf-8”))

When we send a request for live data to the coinlayer API with an API key, we get the following result.

{
  “success”: true,
  “terms”: “https:\/\/coinlayer.com\/terms”,
  “privacy”: “https:\/\/coinlayer.com\/privacy”,
  “timestamp”: 1647981486,
  “target”: “USD”,
  “rates”: {
    “ABC”: 59.99,
    “ACP”: 0.014931,
    “ACT”: 0.007112,
    “ACT*”: 0.017178,
    “ADA”: 0.971867,
    “ADCN”: 0.00013,
    “ADL”: 0.01515,
    “ADX”: 0.382846,
    “ADZ”: 0.0023,
    “AE”: 0.09387,
    “AGI”: 0,
    “AIB”: 0.005626,
    “AIDOC”: 0.000117,
    “AION”: 0.07941,
    “AIR”: 0.0624,
    “ALT”: 0.565615,
    “AMB”: 0.017,
    “AMM”: 0.012113,
    “ANT”: 4.83845,
    “APC”: 0.0017,
    “APPC”: 0.0052,
    […]
  }
}

As can be seen from the incoming response, the value of more than 385 cryptocurrencies instantly came.

It lists all crypto and fiat currencies supported by the Coinlayer API’s list service.

import http.client

if __name__ == ‘__main__’:
  conn = http.client.HTTPSConnection(“api.coinlayer.com”)
  payload = ”
  headers = {}
  conn.request(“GET”, “/api/list?access_key=106****13”, payload, headers)
  res = conn.getresponse()
  data = res.read()
  print(data.decode(“utf-8”))

The response from the Coins API is as follows.

{
  “success”: true,
  “crypto”: {
    “ABC”: {
      “symbol”: “ABC”,
      “name”: “AB-Chain”,
      “name_full”: “AB-Chain (ABC)”,
      “max_supply”: 210000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ABC.png”
    },
    “ACP”: {
      “symbol”: “ACP”,
      “name”: “Anarchists Prime”,
      “name_full”: “Anarchists Prime (ACP)”,
      “max_supply”: 53760000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ACP.png”
    },
    “ACT”: {
      “symbol”: “ACT”,
      “name”: “ACT”,
      “name_full”: “ACT (ACT)”,
      “max_supply”: 10000000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ACT.png”
    },
    “ACT*”: {
      “symbol”: “ACT*”,
      “name”: “Achain”,
      “name_full”: “Achain (ACT*)”,
      “max_supply”: 1000000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ACT*.png”
    },
    “ADA”: {
      “symbol”: “ADA”,
      “name”: “Cardano”,
      “name_full”: “Cardano (ADA)”,
      “max_supply”: 45000000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ADA.png”
    },
    “ADCN”: {
      “symbol”: “ADCN”,
      “name”: “Asiadigicoin”,
      “name_full”: “Asiadigicoin (ADCN)”,
      “max_supply”: 42000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ADCN.png”
    },
    “ADL”: {
      “symbol”: “ADL”,
      “name”: “Adelphoi”,
      “name_full”: “Adelphoi (ADL)”,
      “max_supply”: 100000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ADL.png”
    },
    “ADX”: {
      “symbol”: “ADX”,
      “name”: “AdEx”,
      “name_full”: “AdEx (ADX)”,
      “max_supply”: 100000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ADX.png”
    },
    “ADZ”: {
      “symbol”: “ADZ”,
      “name”: “Adzcoin”,
      “name_full”: “Adzcoin (ADZ)”,
      “max_supply”: 84000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ADZ.png”
    },
    “AE”: {
      “symbol”: “AE”,
      “name”: “Aeternity”,
      “name_full”: “Aeternity (AE)”,
      “max_supply”: 273685831,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AE.png”
    },
    “AGI”: {
      “symbol”: “AGI”,
      “name”: “SingularityNET”,
      “name_full”: “SingularityNET (AGI)”,
      “max_supply”: 1000000000,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AGI.png”
    },
    “AIB”: {
      “symbol”: “AIB”,
      “name”: “AdvancedInternetBlock”,
      “name_full”: “AdvancedInternetBlock (AIB)”,
      “max_supply”: 314159265359,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AIB.png”
    },
    “AIDOC”: {
      “symbol”: “AIDOC”,
      “name”: “AI Doctor”,
      “name_full”: “AI Doctor (AIDOC)”,
      “max_supply”: 777775241,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AIDOC.png”
    },
    “AION”: {
      “symbol”: “AION”,
      “name”: “Aion”,
      “name_full”: “Aion (AION)”,
      “max_supply”: 465934586.66,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AION.png”
    },
    “AIR”: {
      “symbol”: “AIR”,
      “name”: “AirToken”,
      “name_full”: “AirToken (AIR)”,
      “max_supply”: 1491492558,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/AIR.png”
    },
    “ALT”: {
      “symbol”: “ALT”,
      “name”: “ALTcoin”,
      “name_full”: “ALTcoin (ALT)”,
      “max_supply”: 134063,
      “icon_url”: “https:\/\/assets.coinlayer.com\/icons\/ALT.png”
    },
    […]
  },
  “fiat”: {
    “AED”: “United Arab Emirates Dirham”,
    “AFN”: “Afghan Afghani”,
    “ALL”: “Albanian Lek”,
    “AMD”: “Armenian Dram”,
    “ANG”: “Netherlands Antillean Guilder”,
    “AOA”: “Angolan Kwanza”,
    “ARS”: “Argentine Peso”,
    “AUD”: “Australian Dollar”,
    “AWG”: “Aruban Florin”,
    “AZN”: “Azerbaijani Manat”,
    “BAM”: “Bosnia-Herzegovina Convertible Mark”,
    “BBD”: “Barbadian Dollar”,
    “BDT”: “Bangladeshi Taka”,
    “BGN”: “Bulgarian Lev”,
    […]
  }
}

Now, let’s take a look at the historical data service provided by the coinlayer API.

With the query below, we will see the USD equivalent of the values of ETH and BTC cryptocurrencies on 2019-04-30

import http.client

if __name__ == ‘__main__’:
  conn = http.client.HTTPSConnection(“api.coinlayer.com”)
  payload = ”
  headers = {}
  conn.request(“GET”, “/api/2019-04-30?access_key=106*****13&target=USD&symbols=BTC,ETH”, payload, headers)
  res = conn.getresponse()
  data = res.read()
  print(data.decode(“utf-8”))

The response from the Coins API is as follows.

{
  “success”: true,
  “terms”: “https:\/\/coinlayer.com\/terms”,
  “privacy”: “https:\/\/coinlayer.com\/privacy”,
  “timestamp”: 1556668745,
  “target”: “USD”,
  “historical”: true,
  “date”: “2019-04-30”,
  “rates”: {
    “BTC”: 5322.468594,
    “ETH”: 161.430841
  }
}

Why Should You Automate Your Cryptocurrency Calculations?

Why Should You Automate Your Cryptocurrency Calculations?
Why Should You Automate Your Cryptocurrency Calculations?

Cryptocurrencies are a hot topic in the world of technology and finance. This is because cryptocurrency has inspired a new generation of young and eager traders to begin trading from the comfort of their own homes. Because of the large number of investors, it is even more vital for each investor to remain vigilant and regularly monitor the market.

While you may choose to stay glued to your smartphone or computer, keeping an eye on the bitcoin markets for any changes, you also have other options. Specifically, you can use a robust API or programming framework to automate all of your varied cryptocurrency calculations. You may construct scripts that monitor all of the newest events, such as price jumps or trade warnings, utilizing programmable tools.

You may develop converters to guide your trading strategy by using a strong API like coinlayer for your computations. You can also create dashboards to track the exchange rates of all popular cryptocurrencies. Using a tool like this might help you enhance your bitcoin approach significantly. The nicest aspect about automating is that it provides you with accurate data in a timely manner.

Conclusion

With the powerful and flexible services it provides, Coinlayer provides users with hundreds of data from a single point instantly in just milliseconds. While doing all these operations, JSON is returned as a response and a developer-friendly approach has been determined.It is also possible to integrate the Coinlayer service into your project very easily. In addition, coinlayer offers its customers more than one package during registration and offers options suitable for every budget.

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