How does Market Data API work?

In today’s world,  every business requires data. Truly, the data drives the organizations. Data-driven organizations are making tactical and strategic decisions based on data rather than instinct, personal opinions, or broad observations. In the cryptocurrency market, data is an integral part of the market. The question is, how do you find a trustworthy data provider?

Businesses recognize the importance of collecting raw crypto data but also understand that raw data alone should not be used to make business decisions. Instead, they gather, analyze, and derive insights from data in order to solve business problems, identify new growth opportunities, and increase profitability. And for this part, they are looking for reliable and trustworthy partners who can provide the data of the best quality. Here API comes. How does Market Data API work?

API – a trusted source of crypto information for the companies 

One of the ways to provide data to your business is to use API that provides broadly useful features. It adds a digital layer to present a company’s data and enterprise assets, which can improve customer, employee, and partner interactions.

APIs also provide businesses with new monetization opportunities, such as data productization with customized packages and plans for new or existing business partners.

Market data API tries to simplify the process by providing a more accurate, real-time stream of data to apps and other platforms. But how exactly do APIs function? And why should you be concerned?

Why APIS are important for business?

We believe that the cryptocurrency market can provide valuable insights into the brand. We assist companies in discovering and providing the best data by creating a portfolio of customized APIs to help achieve objectives, aid in trading, create stunning products, and ensure that the company receives what it requires.

For businesses seeking the most reliable data and insights from cryptocurrency markets, our cryptocurrency experts have compiled thousands of terabytes of data. They will also do the same for you. With API access customers can gain access to digital asset data and insights into cryptocurrency markets for research, trading, risk management, analytics, reporting, and compliance.

Businesses can build applications much faster using APIs, and they rely on APIs for a variety of critical business tasks. APIs are used to add navigation to mobile apps, validate customer bank account information, and integrate patient records with third-party billing, among other things. Investing in APIs enables digital transformation and boosts a company’s competitiveness.

What Makes a Market data API Reliable?

If you are a cryptocurrency trader, market maker, developer, or someone interested in conducting research within cryptocurrency, there is always a doubt about which APIs to choose from. And the question goes: 

Is there a good API that allows downloading cryptocurrency data, including current and historical prices?

CoinAPI is actively gathering millions of data points, one by one. We help to get valuable insights by providing crypto raw data that individuals and businesses can easily get and build services on top of.

CoinAPI is helping to get most of the market data. According to what customers say “thanks to CoinAPI, it has never been easier to organize and analyze the data”. We guarantee access to all sorts of cryptocurrency historical and current data. 

How does Market Data API work? To illustrate, we have listed the most important features:

API access to real-time and historical market data

CoinAPI provides historical prices or streams the price development of your favorites in real-time. You can receive the most recent quotes and trades immediately and integrate them into your use case.

Low latency and high quality

Real humans double-check market symbol details and asset codes to ensure the highest level of quality.

Every interface you need

We deliver three different protocols: REST, FIX, and WebSocket, so you don’t need to worry about what interface each exchange has, and what it supports. 

CoinAPI is integrated with almost all exchanges

To demonstrate the size we have to say that CoinAPI has been integrated with over 350 exchanges! All to extract data such as order books, transactions, quotes, and metadata. Furthermore, we aggregate this data to generate metrics and metadata from different exchanges and attempt to make sense of it across exchanges. Moreover, the data is also archived by CoinAPI. We have access to the exchanges and the data contained within them, which we are attempting to decipher for our users.

Redundancy  

Redundancy is important, henceforth when choosing a reliable API partner is better to ensure whether they offer server redundancy. Server redundancy enables each client to access their nearest region by default, as well as automatic and instant failover to a redundant region in the event of a failure.

Developer-friendly interfaces. SDK in 40 languages

CoinAPI has you covered with multi-language SDKs and great documentation tailored to every endpoint. Our Software Development Kit (SDK) is available on GitHub at https://github.com/coinapi/coinapi-sdk

Sandbox environment for testing 

A sandbox is a test environment that provides a “safe space” both for testing and training, as well as experimenting with different configurations or major changes to your setup. It enables you to replicate your production environment for testing, training, and development.

The sandbox allows you to test new changes without fear of affecting your current production organization.

Data standardization 

By standardizing data collection via CoinAPI, you are one step closer to having a complete and clean crypto data view that you can actually use.

Order books of the highest quality 

A market order is an order to buy or sell an asset at the current best available price in the market. Moreover, they guarantee immediate execution but do not guarantee a specific price.

OHLCV data 

With CoinAPI you can retrieve Open-High-Low-Close (OHLC) data, historical quotes, and historical trades. You can easily specify the type of data you want to retrieve using query parameters. 

Why are APIs important for business and how does Market Data API work?

To summarize, APIs enable connectivity and collaboration while also providing any functionality that an organization requires or desires. CoinAPI allows you to join multiple cryptocurrency exchanges with a single account. You can centralize your API order routing process and obtain the best exchange pricing. CoinAPI simplifies crypto operations, trading, and obtaining historical/real-time data at scale. Test your use case and see if the CoinAPI fits your product. You can get your free API key here.