Are you investing in the lithium business? Would you like to find out how the price of lithium changes? With this tool, you can do it. It is a digital tool, although the best word to describe it would be an API, a precious metals API.
We all utilize lithium, a chemical component necessary for the operation of the batteries in all of the everyday gadgets we use. Cell phones would never have been possible without him. The problem is that lithium is increasingly necessary. The reason for the pressure to extract this element from the earth more quickly is that now vehicles (hybrid or electric) use this type of rechargeable battery for their operation. This means that it is then necessary to extract more lithium to make more batteries. This is easily explained because a cell phone battery contains a couple of grams of the element, but an electric vehicle battery contains 10 kg of lithium. More expensive lithium favors importers but harms entrepreneurs.
Electric vehicles will undoubtedly transform how we get about, but they will also put exceptional pressure on the environment. According to calculations, by the year 2022 humans are going to consume around half a million metric tons of lithium, but at the rate of demand for new devices, it is expected that by 2035, the demand for lithium will increase to at least 3.7 million tons. If demand grows, prices will too. But high prices could lead companies to look for other solutions.
Be that as it may, the conclusion will always be the same, you must keep up to date with the prices of this metal or else you could lose money. And for this task, we recommend you implement the Metals-API system!
Implement Metals-API!
As its name suggests, Metals-API is an API (Application Programming Interfaces) and its goal is to make it easier for two separate software components to share information. This method will make it simple and quick for thousands of investors, traders, and anybody else interested in buying, selling or swapping metals (including lithium) to find out the current metal rates. Currently, Metals-API works with a variety of metals, including copper, gold, silver, rhodium, platinum, and lithium (the metal you need). The information’s sources include esteemed organizations like the London Metal Exchange (LME), New York Mercantile Exchange (NYMEX), APX-ENDEX, London Bullion Market Association (LBMA), and numerous more.
How is Metals-API used? We advise reading and implementing the following guidelines:
1. First step, go to www.metals-API.com and then you have to click on “obtain API key”.
2. Next, select the option to join up and select a plan for you. There are 8 plans in total (one of them is uncharged and the rest are paid). We advise you to carefully understand the differences between each payment plan before selecting the one that is ideal for you. Thanks to a security system that is the same one that banks employ, your bank information will be secure.
3. Next, choose your nation’s legal tender and lithium metal.
4. Make the API call once you have finished the previous steps.
5. C Language and PHP are your options for programming languages.
Also published on Medium.