What is a Quote?

What is a Quote?Copied!

Quote describes asset transfers. Assets move between a source and a destination. Sources and destinations include Busha Balances and external accounts (crypto wallet addresses, bank accounts, or mobile money).

Here is an example of a created quote:

{
  "status": "success",
  "message": "Created quote successfully",
  "data": {
    "id": "QUO_uNiw1CDqGrdIlK15N0bu1",
    "profile_id": "BUS_VI3eUQSbGBx4EQuQWYDU1",
    "source_currency": "BTC",
    "target_currency": "NGN",
    "source_amount": "0.00007051",
    "target_amount": "10050.58",
    "rate": {
      "product": "BTCNGN",
      "rate": "142541279.55",
      "side": "sell",
      "type": "FIXED",
      "source_currency": "BTC",
      "target_currency": "NGN"
    },
    "fees": [],
    "reference": "QUO_uNiw1CDqGrdIlK15N0bu1",
    "status": "pending",
    "expires_at": "2025-02-20T06:57:05.059512+01:00",
    "created_at": "2025-02-20T06:27:05.059464+01:00",
    "updated_at": "2025-02-20T06:27:05.059464+01:00"
  }
}

This example above represents a sell operation for BTC to your NGN Busha balance. At the very least, quote specifies four values:

• source_currency

• target_currency

• source_amount

• target_amount

These are also the fewest values needed to create a quote. Here’s an example:

curl -i -X POST \
  https://api.busha.co/v1/quotes \
  -H 'Authorization: Bearer <YOUR AUTH TOKEN HERE>' \
  -H 'Content-Type: application/json' \
  -d '{
    "source_currency": "BTC",
    "target_currency": "NGN",
    "target_amount": "10050"
  }'

Source, Destination, and their AmountsCopied!

While creating a quote, specify only one of source_amount or target_amount. In the context of the request above, source_amount would represent how much BTC you intend to send. The target_amount, representing the NGN worth, is then generated based on the official rate of the source_currency against the target_currency.
The example above passes target_amount. This means that this quote is created to receive the target_amount value; NGN 10,050. The created quote will then generate the source_amount to be paid in BTC, equivalent to the target_amount in NGN based on the official rate.

RateCopied!

The rate object in the response describes the exchange value of source to destination. Rates is used to validate and calculate the source, and target amount.

FeesCopied!

The fees the object represents the amount to be deducted from the source_amount upon creating the quote.