Do you want to know how to get real-time rates using an API? Here, we explain it to you.
Uranium is a heavy metal that has been utilized for many years as a concentrated energy source. It is found in most rocks in levels ranging from 2 to 4 parts per million, and it is as plentiful in the Earth’s crust as tin, tungsten, and molybdenum. Because of this, it is highly used in the nuclear industry.
With that in mind, it’s no surprise that this metal is one of the most traded worldwide. In 2020, the country that most uranium generated was Kazakhstan with 41% of the global supply. It was followed by Australia (13%), and Canada (8%).
This metal can be used as a fuel for nuclear power plants, as well as nuclear reactors on navy ships and submarines. It can also be utilized to create nuclear weapons. So, it can be extremely useful and beneficial to invest in it. For that, you have to stay updated on different types of rates that can help you understand the industry better and improve your income.
Use An API
You are probably wondering how to do this then. Well, one of the best options to obtain real-time rates of any metal is using an API. This is an interface that allows two computers or applications to communicate. It collects information from a place and then it provides it to the person who requested it.
The process is instantaneous and that’s why is one of the most used technologies in the world. To use it, you have to find a good software that provides you with the API. There are a lot of those online and many can help you. However, you should have in mind that every single one works differently and gives data in various ways.
Having in mind that you’re searching for uranium real-time rates, then we recommend using Metals-API, one of the most popular and complete softwares available at the moment. With this, you can get rates with a precision of 2 decimal points of a large list of currencies and metals.
To take advantage of it, you must do the following:
- Sign up for an account at www.metals-API.com and get your API key.
- Look for the uranium (URANIUM) and the currency symbol of your choice.
- Before making the API call, use these symbols to add metal and currency to the site.
- Finally, you hit the “run” button, and you’re done! The API will be displayed on your screen.
The result with look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "URANIUM",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
When you’re finished, you may use the plugins on the Metals-API home page to integrate that API into your website or blog.
Concerning the Data
The Metals-API API can give exact exchange rate data for precious metals as well as 170 different foreign currencies, including Bitcoin and other major cryptocurrencies. This platform can provide real-time precious metals data with an accuracy of 2 decimal points and a frequency of up to 60 seconds through API.
Have in mind that this software only gives data on midpoint exchange rates. The average median rate of Bid and Ask at a particular time is used to compute midpoint rates.
Also published on Medium.