Did you know you could invest in metals? Do you know what an API is? Read our post about an API that shows you the movements of the precious metals stock market!
Iridium is a strong, long-lasting metal that is often utilized in jewelry and other everyday activities. Because platinum and iridium are so stable, the meter standard is made of them. It is one of the safest and most commonly used elements on the planet.
Iridium metal is used in high-end spark plugs, crucibles for the high-temperature recrystallization of semiconductors, and electrodes for the technique of producing chlorine, all of which require strong corrosion resistance. chlor-alkali. Because it is abundant in meteorites but exceedingly uncommon in the Earth’s crust, iridium is often thought to be an alien metal.
China, Japan, South Africa, the United Kingdom, and Germany were the most prominent Iridium producers in the latter months of 2021. In fact, South Africa produces at least 80% of all iridium in the earth. It was found in 2020 that iridium can be utilized to establish a method of producing clean hydrogen.
As a result, the price of iridium increased by about $8,000 per ounce. Iridium producers in this country must keep up to date with the prices of this product in the stock market since the rates of any product can move from one day to the next. To do this, they use Metals-API.
What Is Metals-API?
It is a platform that measures the monetary changes of up to 170 currencies and precious metal products. It is based on an API, which is computer software that makes a connection between different websites. In addition, it also provides a one minute search history.
How Is It Used?
Metals-API has the singularity of being a very little complex site to use. I just followed these steps:
- Create an account on the website.
- Obtain an API-Key, which is unique for each user
- Select the currency and precious metal (IRD) of your choice
- Create an API-Call with the selected elements
- Obtain an API-response from the page with the options selected from your dashboard.
Can I Receive Fluctuation Data?
Yes, you can also have the option to get the fluctuation endpoint in the platform. In order to get information on how currencies fluctuate on a daily basis. To use this feature, just pick a start and end date, then the currencies (symbols) for which you wish to query the API. However, keep in mind that the maximum period is 365 days.
Is It A Secure Site?
Yes, Metals-API has 256 SSL encryption, which is a standardized technology that allows data traffic between a web browser and a website (or between two web servers) to be encrypted, thus protecting the connection. This type of connection is very similar to the one used in banking identity pages, so the security of Metals-API is 100% reliable.