Direct exchange

Step 1: Make a Request to Exchange Currency

To create a currency exchange, send a POST request to the direct-exchange endpoint.

Query Parameters

Parameter	Type	Description
`dryRun`	boolean	If true, simulates the exchange and returns the expected rate and fee without performing the exchange.

Body Parameters

The following parameters are required in the request body to initiate the exchange:

Parameter	Type	Description
`fromAccount`	string	The account initiating the exchange (required).
`toAccount`	string	The destination account for the exchange (required).
`fromCurrency`	string	The currency to exchange from (required).
`toCurrency`	string	The currency to exchange to (required).
`fromAmount`	string	The amount of the source currency to exchange (required).
`toAmount`	string	The amount in the target currency that you expect to receive (required).
`signedRate`	object	The exchange rate object for the transaction.

`signedRate` Object

This object contains the rate at which the exchange is executed.

Parameter	Type	Description
`rateRequest`	object	Request details for the currency conversion rate.
`rate`	string	The rate at which the exchange will happen.
`validUntil`	string	The timestamp until which the rate is valid.
`signature`	string	The digital signature for the rate.

Best Practices

Use dryRun for Testing:
Always use dryRun to simulate the exchange and check the rate and fees before performing the actual exchange.
Check Expiry Dates:
Ensure that the exchange rate has not expired by reviewing the validUntil timestamp.
Review Fees:
The exchange will involve a fee (feeAmount). Review it to understand the total cost of the exchange.

Conclusion

This guide explains the process for creating a currency exchange between two accounts using the Vault API. By using the dryRun feature, you can simulate the exchange before committing to the transaction, ensuring you understand the rate and fee structure. Always review the details before performing a live exchange.

For any issues or questions, refer to the official API documentation or contact support for assistance.