Benefits of using paid API?

Hi All,

I have seen many paid API services. Is it a time saver and secure?
Why API exist? Is it useful?

Looking for your expert opinion. Thanks btw.

Most of them are rate limited or have a quicker update frequency for paid users. So let's imagine that you have an app that it's using a specific API to show the price of Bitcoin and there are thousands of users refreshing it. You will soon get rate limited for too many requests and the API will stop giving you data. This won't happen if you have a paid API with an huge/unlimited number of requests per minute.

Paid API's can help you save time since you won't need to fix your API everytime it hits it's rate limit. It also tends to be useful in keeping your website up and running 24/7.

@danial said in Benefits of using paid API?:

Why API exist?

Let’s say you want the martini delivered to your home. You call a delivery service and you order a martini. When you order it, someone will tell the bartender your order, the bartender will make the martini and then someone will deliver it to your home. This is an example of an service built on an “API” (the menu).

A business’ potential can be expanded when they offer an API. There are only so many resources a business can offer. Having an API available, with developers who are eager to build on them, can expand their offerings to more people.

They exist because not every service provider wants to have full nodes running. They rather use a 3rd party API service.
This gives them more flexibility and saves them additional work.

@danial said in Benefits of using paid API?:

Is it a time saver and secure?

This fully depends on the amount of requests you are going to do and the kind of your alternative setup you would be using.
Without those two factors no comparision can be made.