Do you want to understand about cryptocurrencies and how to invest in them? We’ve got the ideal API for that!
Cryptocurrencies are here to stay. Therefore, we have to know how to find the best way to learn to invest in them. To do this, we are going to use some stable product, for example, rice. Rice is one of the most traded grains annually. Being a food rich in carbohydrates and fiber, this product is highly profitable in the market, having an annual production of 10,170,040 tons. In this way, you have to know the pros and cons of investing in it in cryptocurrencies.
First, you have to know that there are many factors that modify the rice harvest. Among them, we can find:
- Weather, that can modify the production,
- Plagues of some insect or bacteria could totally ruin the harvest
- State taxes on producers that can affect the price of the product.
Another important piece of information is also to know the cryptocurrencies in which we are going to bet. Cryptocurrencies have various differentiating characteristics compared to traditional systems: they are not regulated or controlled by any institution and do not require intermediaries in transactions. A decentralized database, blockchain or shared accounting record is used to control these transactions. Bitcoin, Ethereum and Tether are the three best known. To stay fully informed, we recommend Commodities-API.
What Is Commodities-API?
It’s an accessible community API that gives you commodity prices for things like coffee, rice, sugar, and wheat. 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 any currency to any currency. The API provides midpoint data for all commodities and exchange currencies. The average median bid and ask rates over a period of time are used to compute the midpoint rates.
How Can I Access For The First Time?
You can get the info in a snap! Just follow this easy steps below to get started:
- Go to the website
- Register for an API key.
- Choose the symbols of the cryptocurrency (ETH, BTC, BCH, LTC) and commodity (RICE) you want.
And that’s all!
Visit their website for additional details.