Don’t know how to start investing in the sugar market? Are you looking for a way to get financial data about Ethereum? Read this post and learn how to use an API that will help you do it!
Sugar is a natural ingredient that has been part of the human diet for thousands of years. The body breaks down carbohydrates, which include sugars and starches, into glucose. Sugars are an important source of energy, and glucose is the most important for our body. Some sugars are found naturally in foods (for example, fruits, vegetables, and milk), while others are added during processing and cooking.
On average, each inhabitant of the world consumes about 24 kilos of sugar per year, although there are large differences between countries, according to data compiled by the Food and Agriculture Organization of the United Nations (FAO) and the Organization for Economic Cooperation and Development (OECD).
Due to its massive consumption, sugar is a stable commodity in which to invest. But because a large part of the countries that produce this sweetener are countries that have unstable economies, experts have seen the possibility of using the option of cryptocurrencies, especially Ethereum which is an open access to digital money and data-friendly services for everyone. To carry out a good analysis of the movements of this currency and of sugar on the stock market, we recommend the Commodities-API´s API.
What Is An API?
An API (Application Programming Interface) is a interface via which computer applications communicate with one another. The major goal is for developers to save time and money by decreasing the amount of work they have to complete.
What Is Commodities-API?
Commodities-API is a free and open website that uses an API to get real-time data on up to 170 different items on the market in various currencies.
The service is run by receiving data from financial institutions every 60 seconds and working with two decimal places of accuracy. In turn, data and measurements from earlier days, weeks, months, and years may be accessed in order to get a superior position in the market while investing.
How Is It Used?
It’s really easy to get started on the website for the first time; simply follow these instructions:
- Create an account on the website.
- Create an API key
- Choose your currency (ETH) and commodity (SUGAR).
And you´re all set!
Is It Possible To Obtain Information From Past Months?
Yes, you can access “historical rates” which are available for most currencies from August 2021. By attaching a date (format YYYY-MM-DD) to the basic URL, you may access to the Commodities-API ´s API for historical rates.
Visit their website for more information.