Do you want to know how to invest in the stock market? Do you know the rubber market? Read this post to know an API that will help you how to achieve it!
Rubber is an elastic polymer that may be produced or found naturally as a milky emulsion in the sap of many plants. The milky fluid of several tropical plants is used to create this texture, which is stretchy, waterproof, and long-lasting. It’s utilized in the production of tires, insulating pipes, and other items. During the manufacturing process, the material is subjected to high temperatures known as vulcanization.
More than half of all rubber produced is used in automobile tires, with the rest going into mechanical parts such as mountings, gaskets, belts, and hoses, as well as consumer items such as shoes, clothing, furniture, and toys.
Rubber is a key product in the market due to its widespread usage in industry, and many economic experts have placed bets on it. However, because the nations from where this material is sourced have relatively fragile economies, investors have mobilized their profits to the very famous cryptocurrencies.
A cryptocurrency is a digital asset that employs cryptographic encryption to guarantee its ownership, protect the integrity of transactions, and regulate the production of extra units, similar to how we would prohibit someone from copying a photograph.
Cryptocurrencies vary from traditional systems in several ways: they are not governed or controlled by any entity, and they do not need the use of middlemen in transactions. These transactions are controlled by a decentralized database, blockchain, or shared accounting registry. But one of the main negative characteristics of cryptocurrencies is their great volatility, which can cause their price to fall by more than 50% in a few days or, on the contrary, increase by 12,000% in just a few months. Due to this, it is recommended to use metrics and software that analyse these movements. We recommend Commodities-API.
What Is Commodities-API?
Commodities-API is used to find real-time, accurate, and live data on a variety of currencies and tradable items, such as coffee, sugar, and oil. It has a response timeout of 60 seconds and an accuracy level of 2 decimal places. In turn, if you’re just getting started, you may analyze past indicators from earlier months or years to improve your financial performance.
How Is It Used?
It is incredibly simple to use. Three simple steps must be followed:
- Visit https://commodities-api.com/
- Look for the items (RUBBER) and currencies (BTC, ETH) that you’re looking for.
- After that, the API will be supplied to you in the form of a JSON script, which you may use anyway you like.
How Accurate Is It?
With an accuracy of 2 decimal points and over 170 different options, the Commodities-API allows you to access data in whatever currency you choose. You may also get data updates every 60 seconds and make 100.000 API queries every month.
How Safe Is It?
The Commodities-API website uses bank-grade 256-bit SSL encryption to secure your connection. Thousands of developers, small family companies, and large enterprises utilize Commodities-API on a regular basis. This API is the most safe site for commodity rates because of its reliable data sources and more than six years of experience.