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Bruno Ciccarino ฮป for learn go

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Best Practices for Building Fintech Apps in Go ๐Ÿš€๐Ÿ’ฐ

Hey there, Gophers! ๐Ÿน If you're diving into the world of fintech, you're probably looking to build robust, secure, and efficient applications. In this article, weโ€™ll explore some best practices for fintech development in Go, touching on everything from handling money ๐Ÿฆ to securing your API endpoints ๐Ÿ”’. We'll include practical examples along the way. Let's get to it! ๐Ÿ’ช

1 Handling Money Properly ๐Ÿ’ต

One of the biggest mistakes you can make in fintech is handling money values incorrectly. A common pitfall is using float64 for monetary calculations. Why? Because floating-point numbers can introduce rounding errors, which can be disastrous in the world of finance ๐Ÿ’ฃ.

The Problem with Floats

package main

import "fmt"

func main() {
    var balance float64 = 10.0
    balance -= 9.99
    fmt.Println(balance) // Output: 0.009999999999999787
}
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Did you see that? ๐Ÿคฏ What should have been 0.01 turned into a weird floating-point mess. Imagine this happening with your customers' bank balances! ๐Ÿ’ธ

The Solution: Use a Decimal Library ๐Ÿ“
To avoid these issues, use a library like github.com/shopspring/decimal, which handles arbitrary precision.

package main

import (
    "fmt"
    "github.com/shopspring/decimal"
)

func main() {
    balance := decimal.NewFromFloat(10.0)
    balance = balance.Sub(decimal.NewFromFloat(9.99))
    fmt.Println(balance) // Output: 0.01
}
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No more floating-point shenanigans! ๐ŸŽ‰ Decimal ensures precise calculations, which is a must in the fintech world.

2 Use Strings for JSON APIs ๐ŸŒ

When transmitting monetary values via HTTP, avoid sending numbers directly. Why? JSON doesnโ€™t have a decimal type, so your carefully crafted decimal values could get mangled when converted to float64.

Bad Approach: Sending Decimals as Floats ๐Ÿ˜ฌ

{
    "amount": 9.99
}
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This might look fine, but depending on the client's implementation, it could lead to rounding issues again. Instead, send monetary values as strings. โœ…

Good Approach: Sending Decimals as Strings ๐Ÿ“ง

{
    "amount": "9.99"
}
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And hereโ€™s how you can handle it in Go:

type Transaction struct {
    Amount string `json:"amount"`
}

func main() {
    tx := Transaction{Amount: decimal.NewFromFloat(9.99).String()}
    jsonStr, _ := json.Marshal(tx)
    fmt.Println(string(jsonStr)) // Output: {"amount":"9.99"}
}
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By using strings, you ensure that the value remains accurate when parsed by different clients.

3 Use Time Properly ๐Ÿ•ฐ๏ธ

Financial systems often involve scheduling, timestamps, and time zones. If you mess up time handling, you can end up with delayed transactions or incorrect reports ๐Ÿ“‰. The time package in Go is powerful but requires careful usage.

Always Use time.Time for Timestamps ๐Ÿ—“๏ธ

type Payment struct {
    Amount   decimal.Decimal `json:"amount"`
    DateTime time.Time       `json:"datetime"`
}
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When dealing with timestamps, always store them in UTC to avoid time zone headaches ๐ŸŒ.

now := time.Now().UTC()
fmt.Println(now.Format(time.RFC3339)) // Output: 2024-11-13T15:04:05Z
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Use Parse and Format Correctly โณ
Make sure you're using the correct layout for formatting/parsing time strings. Go uses a reference date 2006-01-02 15:04:05 as the layout.

layout := "2006-01-02 15:04:05"
t, err := time.Parse(layout, "2024-11-13 14:00:00")
if err != nil {
    fmt.Println("Error parsing time:", err)
}
fmt.Println(t)
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4 Protect Your API Endpoints ๐Ÿ”

In fintech, security is non-negotiable ๐Ÿšจ. Youโ€™re dealing with sensitive financial data, so you need to protect your API endpoints against potential threats.

Use HTTPS Everywhere ๐ŸŒ๐Ÿ”’
Make sure all your endpoints are served over HTTPS to encrypt data in transit. Let's Encrypt provides free SSL certificates if you're on a budget ๐Ÿ’ธ.

Use Authentication & Authorization ๐Ÿ›ก๏ธ

  • JWT Tokens: Great for stateless authentication.
  • API Keys: Simple but can be less secure if not handled properly.
  • OAuth2: The gold standard for user authentication.

Example: Securing Endpoints with JWT

package main

import (
    "github.com/golang-jwt/jwt/v5"
    "time"
)

func generateJWT() (string, error) {
    claims := jwt.MapClaims{
        "user": "gopher",
        "exp":  time.Now().Add(time.Hour * 24).Unix(),
    }
    token := jwt.NewWithClaims(jwt.SigningMethodHS256, claims)
    return token.SignedString([]byte("supersecretkey"))
}

func main() {
    token, err := generateJWT()
    if err != nil {
        panic(err)
    }
    fmt.Println("JWT:", token)
}
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Don't forget to validate tokens on every request! โœ…

5 Be Mindful of Concurrency ๐Ÿงต

Go's goroutines are great for handling concurrency, but when it comes to fintech, be cautious! ๐Ÿ›‘

Use Mutexes for Shared Data ๐Ÿ”„

var balance decimal.Decimal
var mu sync.Mutex

func updateBalance(amount decimal.Decimal) {
    mu.Lock()
    balance = balance.Add(amount)
    mu.Unlock()
}
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Use Channels for Safe Communication ๐Ÿ“ก

func main() {
    transactions := make(chan decimal.Decimal)

    go func() {
        transactions <- decimal.NewFromFloat(100.50)
    }()

    tx := <-transactions
    fmt.Println("Transaction received:", tx)
}
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6 Test Everything, Especially Edge Cases ๐Ÿงช

Testing is crucial in fintech, where bugs can have costly consequences ๐Ÿ’ฐ. Make sure to cover edge cases like:

  • Large values ๐Ÿ’ธ
  • Rounding issues ๐Ÿงฎ
  • Time zone handling ๐ŸŒ
  • High concurrency scenarios ๐Ÿ•น๏ธ

Example: Table-Driven Tests

func TestAddMoney(t *testing.T) {
    tests := []struct {
        amount1, amount2, expected string
    }{
        {"9.99", "0.01", "10.00"},
        {"100.50", "0.50", "101.00"},
    }

    for _, test := range tests {
        a1, _ := decimal.NewFromString(test.amount1)
        a2, _ := decimal.NewFromString(test.amount2)
        expected, _ := decimal.NewFromString(test.expected)

        result := a1.Add(a2)
        if !result.Equal(expected) {
            t.Errorf("expected %s but got %s", expected, result)
        }
    }
}
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Wrapping Up ๐ŸŽ
Building fintech applications in Go can be a lot of fun, but it also comes with its own set of challenges. From handling money properly with decimals to securing your API endpoints, every detail matters.

Hopefully, these tips will help you build fintech apps that are precise, secure, and performant. Now go forth and create something awesome! ๐Ÿš€๐Ÿน

Happy coding! ๐Ÿ’ป๐ŸŽ‰

Top comments (6)

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hafidhfikri profile image
Hafidh Fikri

good content, thank you for sharing this!

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brunociccarino profile image
Bruno Ciccarino ฮป

Thank you for the feedback bro

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mbugua profile image
Lee Mbugua

superb content, very timely for some cool project I am working that involves Money!

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brunociccarino profile image
Bruno Ciccarino ฮป

Thanks for the feedback and good luck with the project bro

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rlgino profile image
Gino Luraschi

I liked your post, it's absolutely complete and contains real-world cases that are better for understanding ๐Ÿ‘๐Ÿ‘๐Ÿ‘

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brunociccarino profile image
Bruno Ciccarino ฮป

Thanks for the feedback bro ๐Ÿคœ๐Ÿค›