Do you work with economic transactions on the internet? You already know that employing a commodities prices API will make your job lot easier! Learn how to make your job simpler by reading this article!
When it comes to business operations, it’s common to think that the key to their success is the quality of communication between the producer and the possible customer. Business models that concentrate on relationships with other firms, on the other hand, should not be ignored.
The B2B business model — Business-to-Business or, in Spanish, business to business — has been gaining traction for some time, particularly in the realm of internet commerce. B2B is a business model in which one firm sells services to another in order to increase sales of the products and services it delivers. This is a business transaction between two firms.
Unlike business-to-consumer (B2C) marketing, which focuses on the ultimate client, B2B marketing focuses on the products provider or the intermediate portion of the marketing chain, which is critical for a company’s success. A B2B company is one that creates digital content for other businesses, whether through blog posts, social media, or web pages, with the goal of positioning brands online.
Due to the convenience of access to information, the ability to carry out administrative procedures across many platforms, and good connection with other members of the company through various channels, this model now offers a huge opportunity for strengthening businesses.
Although both B2B and B2C may be done by the same company, the former has certain advantages that the latter does not.
- Monetary savings
- Digital nimbleness
- Higher revenues
- Identity in the sector
To accompany this business model, you would have to use a type of platform that helps you do your job faster and simpler like these:
Commodities-API
Commodities-API It’s a free public API that displays commodity prices such as coffee, rice, sugar, and wheat. To get the data, go to the website, get an API key, and then choose the relevant currency and commodity. That’s all there is to it, and you’re free to utilize the API as you want. The Commodities-API may supply data in whatever currency you choose, with an accuracy of 2 decimal points, from a list of over 170 options. You can get 60-second data updates and make 100.000 API queries each month.
Barchart
Barchart, an international financial technology business that delivers market data and services to the financial, media, and commodities industries, was one of the first websites to provide commodity and futures market data. From front to back office, Barchart’s distinctive data, software, and technology solutions fuel the operations of its diverse client base, while its media brands provide web content, news, and publications to benefit financial and commodities professionals in their decision-making.
The same API endpoints may be used to convert currency and commodity prices, and any amount can be converted from one currency to another, as well as from one commodity to another and from one currency to another. The API provides midpoint data for all commodities and exchange currencies. The average median bid and ask rates throughout time are used to establish the midpoint rates.
CommoPrices
This API allows you access to the prices and values of over 10,000 commodities and indexes. The data may be updated daily, weekly, or monthly, depending on the source. The amount of data included in a market determines its liquidity. You may learn more by searching for the commodity on www.api.commoprices.com.