How to Choose the Best Currency Conversion Platform

In a world where international travel has witnessed a significant surge, it is important to have a reliable money conversion app to meet your financial needs. Having a good money-conversion app will make a huge difference in your finances. If you’re a frequent traveler or if you regularly conduct business abroad, you absolutely need one

Due to the increase in travel across the world, there has been a noticeable rise in the number of currency conversion apps available. However, there are certain important factors to consider before choosing an app that will be right for you. You don’t want to hop on every trend and download every app you come across. Knowing the exact features that make a good currency conversion app will guide you in making the right choice.

In this post, we’ll explore the benefits and also provide insight on how to choose the best currency conversion platform for you. Let’s get into it without delay.

What is a Currency Conversion Platform?

A currency converter could be an app or a website that allows users to convert various currencies based on present-day exchange rates. For example, you can use a currency conversion app to convert money from one currency to another such as dollars to euros, or euros to pounds, and vice-versa. 

Currency conversion is practically useful to tourists who go on vacation abroad, FX traders, or business owners who are involved in international transactions.

Why You Should Have a Currency Conversion App

If you’ve had to work with international clients or are a frequent traveler, you must have experienced challenges with currency conversion at some point. Here’s where a currency conversion app comes to the rescue. The following are some of the benefits that a currency conversion app can offer you:

Time-Saving

Looking for where to exchange money overseas can be stressful and time-consuming, especially if you don’t know your way around the region. A currency conversion app saves you time by doing complex calculations with the current exchange rates. All you have to do is enter the amount and currencies you want to convert, and you’ll get immediate results.

Up-to-date Exchange Rates

A money conversion app uses real-time data from notable sources such as banks and financial institutions to update the existing exchange rate. This way, you can be certain about the accuracy of the information you’re getting as regards current exchange rates and fees. The app also updates in real time to reflect changes in market conditions. 

Additionally, a money conversion app usually provides historical charts and data that can help you plan your budget and make informed financial decisions. 

Customized Preferences

Usually, most currency conversion apps come with features that allow you to customize the app according to your preference. 

For example, you can select the particular currency you want to see on your main screen and how many decimal places you want to see. 

Also, you can set alerts and notifications to inform you when certain currencies rise to a certain level. Additionally, you get to know when there are significant changes in the market.

Factors to Consider Before Choosing a Currency Conversion App

Truly, there are numerous options available when it comes to money conversion apps. However, you need to keep in mind that not all of them are created equally. Some of these apps may have hidden fees, inaccurate rates, or limited features.

You may be wondering how to select the best currency conversion platform for you. Here are some of the characteristics of a good currency conversion app:

Accurate Exchange Rates

An app that provides real-time and accurate exchange rates based on market conditions fits into the criteria for a reliable currency exchange app. Some apps use outdated or inflated rates to make money off you when you convert currencies. However, you can compare different apps by checking their rates against a reliable source like Google. 

Transparent Fees

Although some apps may offer considerably low fees, sometimes they compensate for these fees by using unfavorable exchange rates. When choosing a money conversion app, you should look for one that offers reasonable fees. This should be done while maintaining affordable exchange rates.

Other Features

Depending on your needs, you might want an app that offers more than just currency conversion. For example, if you’re a business person, an app that also allows you to send and receive money internationally will be of great value to you. 

Easy-to-navigate Interface

Many people don’t like navigating through complex menus or waiting for slow loading times. You should go for an app that has a simple and user-friendly interface. You can read reviews from other users and test out different apps before making a final decision. 

Remember that the best currency conversion app is not the most expensive or popular one, but the one that best suits your needs.

Changera: The Ultimate Currency Conversion Platform

Think about a money conversion app that meets all the criteria listed above and you wouldn’t have to think too far. 

Changera is your best bet! Changera is a leading social fintech app that allows millions of users to send and receive money in any currency around the world. With an app like Changera, you don’t need to go through the stress of dealing with local currency changers. From the comfort of your home, you can claim over five currency wallets, including dollars, pounds, and naira. Do you know what’s even better? Changera has a virtual card feature that allows you to spend money in any of these currencies on any international platform of your choice.

All you need to do to get started is download the mobile app and create an account for free.

Ready to get started? Download the mobile app from the Google Play Store or the App Store today.