With the advent of fintech revolution, the consumption of Application Programming Interface (API) is becoming more relevant and in turn complementing the already booming blockchain space. The crypto domain currently involves more than 2,200 crypto currencies but constitute only a handful number of exchanges.
APIs can be considered as pre-set rules or conditions which allow integration of existing software into one another. These APIs makes it easy for developers to generate cryptocurrency applications, platforms, multi-dimensional wallets and also helps traders in tracking real-time or historical price information
The current features offered by most of the crypto exchanges are quite limited and results in ownership or inconsistent interface dilemmas. Speaking of the centralized crypto exchange, the centralized consensus limits the essence of blockchain and for decentralized exchanges, the inconsistent interface to incorporate most of the decentralized application and blockchain platforms into an amalgamated exchange.
1. Cash conversions from fiat-to-crypto & vice versa
Point Pay becomes an attractive investment case here with its multi-dimensional API linkages making the crypto exchange user-friendly and thicker in terms of underlying linkages. The current PointPay API offers smooth transitions of money conversion from fiat-to-crypto and vice versa.
2. Instant Deposits & Withdrawals
The second dimension of Point Pay’s API becomes more relevant with the quick linkage with the banks for instant withdrawals and deposits. This would allow the users to convert their fiat into cryptos and vice versa in the shortest possible time.
3. Coins Listings & Wallet Integrations
The third dimension where API helps an exchange is with the Initial Coin Offering (ICO), crypto listings, wallet integrations and more importantly Initial Exchange Offerings (IEO). The decentralized applications and blockchain based currencies leverage on the exchange platform via API to make their utility tokens tradable on the underlying exchange. This improves liquidity for the exchange and brings the intrinsic value of each utility token on a platform where it can be exchanged amongst participants.
4. Money Management
Finally, the API from the PointPay perspective makes more sense with money management tools, chat troll box and dedicated technical charts analysis for traders. These tools will be linked with their native applications and databases like coinmarketcap (CMC) and traders view to allow traders to invest in a smoother and more efficient manner.
