Are you interested in investing in a greener form of fuel? Do you know what palm oil is? Read this post to know API that helps you with all this!
Palm oil has many negative factors since it is a type of crop that causes deforestation, therefore, the possible extinction of diverse fauna and flora in the regions where it is grown. But, on the other hand, palm oil is a very tradable and cheap commodity to carry out.
Palm oil has also extraordinary nutritional qualities and characteristics make it a product widely used by the industry. Palm oil is used to make many food, cosmetic and tankers products.
On the other hand, vegetable oils as palm oil, soybean oil are used to create biodiesel, because they react with an alcohol and produces a fatty acid alkyl. The production of biodiesel based on these grains means a more ecological alternative.
The appearance of palm oil as a fuel made the product attract more attention, this time to the fuel market where experts began to stipulate how to handle this new and traded derivative of palm oil. Many of them also began to create businesses through the use of cryptocurrencies to invest in palm oil, so as not to depend on the country from which it was exported.
What Is Bitcoin?
The term “cryptocurrency” is widely used to describe Bitcoin. It’s a type of virtual money, also known as digital currency, that works in the same way as cash online. It may be used on more virtual currency, products, and services. Each Bitcoin is simply a computer file that is kept in a “digital wallet” software on a smartphone or computer. The only problem with bitcoin is that it is quite volatile, and its stock market moves are quick and sudden, thus specialists employ Commodities-API to conduct a thorough examination of this digital currency.
What Is Commodities-API?
Commodities-API is a service that delivers free and virtual access to every sort of money and goods from its 170 selections via an API, or application programming interface. The information acquired is real-time, with two decimal places of precision and a one-minute response time.
How Do I Create An Account For The First Time?
It takes about ten minutes to complete! Simply follow the instructions outlined below:
- Make a user account.
- Obtain an API key.
- Select the commodity (CPO) and the currency (BTC) of your choice
And that´s all!
Where Do You Get The Data From?
Every minute, the Commodities-API service gathers commodity pricing data from over 15 trusted data sources. Banks and financial data companies are among the sources.
For more details, visit their website.