Did you know you could invest in agricultural raw material? Do you have any idea how to do it? Read this article about an API that allows you to have monetary exchanges!
Commodities are raw materials or fundamental items that have undergone extremely minor or inconsequential changes, and there is no major difference between them since they are based on a minimal level of quality.
For years, agricultural products have been forms of exchange for goods. But this type of commercial exchange of products was born in the mid-seventeenth century in Chicago at the hands of farmers in that area who marketed their freshly harvested products to different clients.
Energy (oil, natural gas, coal), metals (gold, silver, aluminum), food (corn, rice, oats), and meat (cattle, pigs, butter, and milk) are the different types of commodities.
Commodities are mined, cultivated, manufactured, and exchanged in big enough quantities to maintain global trading markets’ liquidity and, for the most part, efficiency.
For this reason, market experts are responsible for keeping up to date with the prices of each of them. The only problem is that the movements in the stock market are continuous and, whoever wants to invest in it, must be constantly updated and informed about the monetary values. For this, we recommend Commodities-API.
What Is Commodities-API?
Commodities-API is an online platform that provides monetary data and products such as coffee, rice, ethanol, wheat, among others. The website uses an API, a computer software that makes connections from one website to another, in order to have this data. It has a search range of one minute and a precision of two decimal places.
How Is This Site Used?
Commodities-API has the quality of being a very easy to use web page. To do this, you must follow these steps:
- Create an account on the website.
- Get an API-key, which is unique for each user
- Select the currency and the product of choice
- Go to the dashboard and generate the API-request, so that the software responds to you with an API-response, and you are ready to operate!
Where Does The Site Get The Data From?
Commodities-API data is given by various financial entities, including the Central Bank, so the information received by the site and given to customers is one hundred percent reliable.
For more information, check their website.