Integrating with a crypto market API provider can be risky. Therefore, you want to ensure the service provider is trustworthy to protect your company’s security. When using a crypto API, safeguarding your assets is crucial. Consequently, the main risk is giving up some control and visibility of your digital assets.
Let’s explore the top 10 concerns when working with coinapi as a crypto API provider. To begin with, we talked to several cryptocurrency experts who shared their thoughts. As a result, here’s what we found:
1. API quality and functionality
Firstly, some worry about API stability and whether it has the needed functions or data. However, coinapi offers many benefits, including:
- Easy integration
- Data standardization
- Multiple language SDKs
- Various interfaces (rest, Websocket, fix)
- Custom requests
- High-frequency data
Moreover, you can test coinapi before buying. Our customers particularly appreciate our great documentation, robust platform, and service capabilities.
You can always try our product before buying it at CoinAPI since you can test the API beforehand. We have listed all of CoinAPI’s critical functionalities.
Want to see what are the top features of great Market data API? Read more!
2. More than just market data
Secondly, it’s important to note that coinapi isn’t just a market data API. In fact, we offer a complete ecosystem with: Market Data API, Indexes API, and EMS Trading API.
Our services cater to:
- Crypto app developers
- Analysts
- Brokers
- Index providers
- Market makers
- Investors and traders
- Researchers
Additionally, we created Flat Files, a service for non-technical users to download historical and current market data files.
3. Differences between providers
Thirdly, it’s worth mentioning that API providers vary in features, user-friendliness, and pricing. As a result, coinapi aims to be developer-friendly, helping clients focus on building apps and growing revenue. We offer:
- Easy-to-use data
- Time-saving features
- Enhanced business capabilities
What are the benefits of including CoinAPI in your product or service? How can businesses benefit from it? The article explores the top five advantages of integrating CoinAPI into your product or service.
4. Implementation and maintenance costs
Next, let’s consider the costs involved. Building an API yourself requires dedicated resources. Furthermore, the real expense lies in maintaining the infrastructure. With CoinAPI, however, you don’t worry about maintenance, development, or support – we handle it all.
While initial costs may seem high, the benefits often outweigh them:
- Increased efficiency
- Improved data quality
- Access to third-party developers
- New revenue streams
Implementation of the API product is not expensive, the real and huge cost is when you want to build an API on your own. Read our blog post about it!
5. Cost savings vs. in-house development
In comparison to hiring developers, buying coinapi access can save money. Our plans start at $99 per month, whereas experienced API developers can cost $50-$100 per hour.
6. Control over delays and details
Moving on to performance concerns, we provide low-latency services through gateways on each continent. Our API doesn’t sacrifice speed, and we offer:
- Business continuity measures
- Multiple protocols
- Unified data from various exchanges
7. Build vs. buy decision
When considering whether to build or buy, remember that building an API yourself overlooks many complexities. In contrast, coinapi gives you access to all exchanges, saving time and money. We handle the details so you can focus on your product.
8. Direct exchange data vs. API provider
Coinapi offers several advantages over direct exchange connections:
- Easy switching between exchanges
- Normalized data across platforms
- Historical data access
- Multiple protocols
When it comes to normalizing cryptocurrency trade data, several factors come into play. Our article discusses different types of normalization and why they are important for end users.
9. Free sources vs. paid API
While free sources exist, they have limitations:
- Less comprehensive data
- Time-consuming data collection
- Difficulty in standardizing information
On the other hand, coinapi provides consistent, high-quality data from various sources, saving you time and effort.
10. Infrastructure and custom requests
Lastly, let’s discuss infrastructure. Coinapi supports multiple protocols (FIX API, REST API, WebSocket API) and offers:
- SDKs in 40 languages
- Comprehensive documentation
- Sandbox environment for testing
Furthermore, we can accommodate diverse order types and non-standard requests, making integration simpler and faster.
Our SDKs come with comprehensive documentation in addition to multi-language SDKs, and you can find it on GitHub.
Summary
In conclusion, while concerns about using a crypto market API provider are valid, coinapi addresses many of these issues. Overall, we offer a robust, flexible, and cost-effective solution for businesses looking to integrate cryptocurrency data and trading capabilities.
