Are you in need of an API to be able to keep up with the latest silver prices? If in addition to this, you would like to see these prices in cryptocurrencies, more specifically Bitcoin, we recommend reading this post!
It is a metallic chemical element (47 atomic number and Ag is its symbol) with a white and shiny color, very ductile and malleable. It is a very good conductor of heat and electricity, but unfortunately, it is scarce in the earth’s crust. In addition, it is resistant and does not rust. It is obtained thanks to by-products in the treatments of lead, gold, zinc and copper mines.
Anyway, silver has countless uses, such as wart treatments in medicine, deodorants, batteries, motors, glass, 3D printing, the automotive industry, photography, solar panels, coins and of course, as an investment. Approximately 70% of the world’s silver production is used for industrial purposes, and 30% – for monetary purposes.
However, if your goal is to see prices in Bitcoin, it would be best to use an API. We know that if there is an unstable cryptocurrency (some days it can go up or down suddenly) it is Bitcoin, so in order not to be confused with conversions of dollars or euros to Bitcoin, it would be best to directly see the prices of silver in that cryptocurrency! And for that, we will use Metals-API:
Why should you use Metals-API?
First of all, it is an API created to see the prices of metals (including silver) with an accuracy of 2 decimal points and a frequency as high as every 60 seconds. Exchange rate data delivered by the Metals-API is collected from over 15 reliable data sources, every minute. Sources include banks and financial data providers, for example: Barrick Gold, London Metal Exchange, etc.
Secondly, because their system automatically converts precious metals prices to 170 currencies from all over the world (you could see the prices in your local currency). But in addition, given the great importance that cryptocurrencies acquired in these years, Metals-API also supports Bitcoin and other digital currencies.
If you have doubts about how to use it, don’t worry, on their website they include documentation with all the steps to follow. In case of persistent doubts, they have a virtual chat available to respond to each concern.
Also published on Medium.