We support the following types of currencies as both source and target currencies:
- FIAT: We support most traditional FIAT currencies (exchangeratesapi.io: Our API
is integrated with a number of highly reputable foreign exchange rate sources, offering the most recent and
accurate rates for 200+ pairs.)
- Coin: Native currencies of blockchains
- Token: Smart contract-based (ERC-20) tokens During the exchange, we use the following services:
- Coin: Native currencies of blockchains
- Token: Smart contract-based (ERC-20) tokens During the exchange, we use the following services:
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During the calculation of exchange rates, we use the following services:
For FIAT currencies, we use exchangeratesapi.io to query the exchange rates between the source and destination
currencies.
For COIN currencies, we use cryptocompare.com to query the USD price of the COIN.
For TOKEN currencies, we use dexscreener.com to query the USD price of the TOKEN based on the swap pairs with the highest liquidity.
For COIN currencies, we use cryptocompare.com to query the USD price of the COIN.
For TOKEN currencies, we use dexscreener.com to query the USD price of the TOKEN based on the swap pairs with the highest liquidity.
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The calculation process:
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Basically, during the exchange, we query the USD price as a reliable common point
for both source and target
currencies and calculate the result based on the exchange rate between
something-USD and USD-something.
So, first, we convert the source currency to USD if it is not USD. If the source
currency type is COIN,
we query the USD price of the respective COIN from cryptocompare.com. If the source
is TOKEN, we search
for swap pairs on dexscreener.com where the source TOKEN is on one side, and we take the USD exchange
rate
from among those pairs with the highest liquidity. If the source is a FIAT currency different from USD, we
query the exchange rate for the source FIAT from exchangeratesapi.io.
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We apply the same logic for the target currency, so we get the exchange rate in USD
for both the source
and the target currencies, and then calculate the result from these.