Cryptocurrency is creating a huge change and transformation in the financial world today. Emerging as an alternative to traditional currencies, these digital assets are supported by blockchain technology and traded securely and transparently. This movement, which started under the leadership of Bitcoin, has now turned into a large ecosystem with many different cryptocurrencies and tokens. One of the most striking issues in this ecosystem is the increasing prevalence of the cryptocurrency API Python, which provides cryptocurrency prices. Nowadays, the number of Python cryptocurrency applications is increasing.
APIs that provide cryptocurrency prices are vital for investors and developers who want to track and analyze the values of these digital assets. These APIs instantly update prices using data obtained from transactions on different crypto exchanges and provide access to a wide user base. This provides investors with faster access to accurate information and allows them to make more informed financial decisions. Therefore, with the popularization of cryptocurrency, APIs have become an indispensable part of this ecosystem. In this article, we will get to know Python, the best cryptocurrency API that provides this service. Then we will integrate it into Python.
Table of Contents
What is Coinlayer, and What Makes it Powerful?
APILayer is a company that provides API services and coinlayer is an API product that this company offers regarding cryptocurrencies. Coinlayer API provides a powerful web service that allows 25,000 happy customers to track cryptocurrency prices in real-time. This API is the trusted source for accurate crypto market data covering 25 exchanges and 385+ currencies. The data provided by the API is collected from transactions occurring on different crypto exchanges and presented to users. In this way, by integrating the API, users can add instant cryptocurrency prices to their websites or applications and access up-to-date data.
Discover the differences between coinlayer and CoinAPI: Which is the best API?
Coinlayer API allows users to select the assets of their choice from a large list of cryptocurrencies and updates the prices of these assets in real-time. Additionally, the API offers features such as converting prices in different currencies and accessing historical data across various periods. It provides historical data up to 2011. In this way, users can use this API to suit their needs and application requirements and access a wide range of data on cryptocurrency prices.
Coinlayer API is easy to use and backed by documentation support. In its documentation, it provides sample integration codes for popular programming languages such as JavaScript and PHP. This way, developers can quickly integrate the API and start displaying cryptocurrency prices in their apps or websites. APIs such as coinlayer offered by APILayer have become an important tool for many platforms that follow the developments in the cryptocurrency world and provide services using this data.
Why Choose Coinlayer for Your Cryptocurrency Data Needs?
Coinlayer is extremely feature-packed and has significant advantages. The most important of these is that it provides real-time and historical data. With coinlayer you can get accurate current data and historical crypto rates dating back to Bitcoin prices in 2011. This API also offers bank-level security. All data sent to and received from the coinlayer API is secured with industry-standard 256-bit HTTPS encryption. Finally, this API surpasses its competitors with fair pricing plans. With this API, you can make 100 API calls per month for free. Its paid plans also start at $9.99 per month for 5,000 requests per month.
Learn how to supercharge your crypto exchange dashboard with coinlayer API!
These features offered by coinlayer provide its users with a wide range of data and a secure environment. Real-time data and the availability of historical data are extremely valuable to investors and developers. Additionally, coinlayer API’s high uptime and uninterrupted service guarantee allow users to work with a constant and reliable data flow. Offering a flexible pricing policy with both free and premium plans allows it to appeal to a wide range of users by offering solutions suitable for different user needs.
What Crypto Data Endpoints are Available via the API?
In total, the coinlayer API offers 6 API endpoints, each with different powerful functionalities. Here is a brief description:
- 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 for a specific period.
- Change Data: Retrieve data about rate fluctuation for a specific period.
- List Endpoint: Retrieve a list of all available cryptocurrencies and target currencies.
Accessing the Coinlayer API
An API key is required to use coinlayer. The API key allows users to programmatically access and use cryptocurrency data in their applications or websites using the coinlayer API. The API services that coinlayer offers to its users are offered in two different options: paid and free plans.
The free plan allows users to make 100 API calls per month. This is an ideal option for small-scale projects or trial use. However, for those who require more heavy API usage or want more features, coinlayer offers a variety of premium plans. These premium plans offer additional features like more API calls and dedicated support for a set monthly fee.
API Access Key & Authentication
Next, to check if everything is working properly. Just run this URL in your web browser:
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http://api.coinlayer.com/api/live?access_key=YOUR_ACCESS_KEY |
You see this API response:
Track and Monitor Live Cryptocoin Prices with Python and Coinlayer
To get the latest crypto rates for all available cryptocurrencies use the following code to make an API request in Python:
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#!/usr/bin/env python # -*- coding: utf-8 -*- import requests r = requests.get("http://api.coinlayer.com/api/live?access_key=dd61c88c20c658209ab9639b8a5e29a9") responses = r.json() responses |
Here are the API responses inside the Python IDE:
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# Bitcoin (BTC to USD): print(responses['rates']['BTC']) # Ethereum (ETH to USD): print(responses['rates']['ETH']) # Cardano (ADA to USD): print(responses['rates']['ADA']) # Binance Coin (BNB to USD): print(responses['rates']['BNB']) # Tether (USDT to USD): print(responses['rates']['USDT']) # Ripple (XRP to USD): print(responses['rates']['XRP']) # Dogecoin (DOGE to USD): print(responses['rates']['DOGE']) # Bitcoin Cash (BCH to USD): print(responses['rates']['BCH']) # Litecoin (LTC to USD): print(responses['rates']['LTC']) # Chainlink (LINK to USD) print(responses['rates']['LINK']) |
Here is the API response inside your Python IDE:
Develop a Web-Based Cryptocoin Price Tracking and Monitoring System with Coinlayer and Jupyter Notebook
You can easily build an interactive web-based Cryptocoin Live Price Tracker dashboard using the Python scripts in the previous section. All you need to do is run them inside the Jupyter Notebook. If you have never used Jupyter Notebook before, visit the installation guide on the official website of Project Jupyter.
Here is the result:
Conclusion
To sum up, the increasing importance of cryptocurrency in today’s financial world has led to the adoption of digital assets by more and more investors and developers. The use of programming languages, especially Python, makes a great contribution to analyzing, trading cryptocurrencies, and even developing new applications. While Python cryptocurrency applications have accelerated the development of the cryptocurrency world, they have also paved the way for financial technologies and innovation.
FAQs
Q: How to analyze cryptocurrencies with Python?
A: Analysis of cryptocurrencies with Python is usually done with Python’s libraries used for data analysis and financial analysis. Libraries such as Pandas, NumPy, and Matplotlib are widely used to retrieve, manipulate, and visualize cryptocurrency data.
Q: What is coinlayer API and why is it important?
A: Coinlayer API is a web service that enables the retrieval and use of live data regarding cryptocurrencies. This API aggregates data from different crypto exchanges, providing users with real-time prices, exchange rates, and historical data.
Q: What are the use cases of Python cryptocurrency applications?
A: Python’s use with cryptocurrencies is quite diverse and there are many use cases. For example, using Python can track a portfolio of cryptocurrencies, import data from crypto exchanges, perform technical analysis, and even automate trading strategies for cryptocurrencies.
Q: Is coinlayer a free web service?
A: Coinlayer provides an API service that provides users with live data and exchange rate information on cryptocurrencies. Coinlayer offers free and paid plans. The free plan allows users to make 100 API calls per month, while paid plans offer more API calls.
