Do you want to enter the world of investments in the stock market? Are you interested in the coffee market? Read this post to know how to start investing carefully!
Coffee is one of the most famous drinks in the world. Coming from the fruits of the Coffetos plant, these grains are highly marketable in the world due to the exquisite juice that can be obtained from grinding them. This drink also has the presence of caffeine, which is a natural chemical component present in some plants. This alkaloid is a natural stimulant of our nervous system and is responsible for creating the sensation of “shock” when we are falling asleep.
Annually, approximately 166.3 million 60-kilogram bags of coffee are consumed worldwide. In fact, it´s believed that so far in 2022, coffee drinkers in Canada drank an average of 2.7 cups of hot caffeinated beverages per day. This figure has fluctuated in recent years, with consumption peaking in 2018 at an average of 3.6 cups per day. Because of this, economic analysts have decided to fix their eyes on Canadians’ consumption of coffee and start a business with it. To keep track of the price of coffee on the exchange and with the Canadian currency, these experts use the Commodities-API.
What Is Commodities-API?
Commodities-API is a website that provides the use of an API, computer software, which obtains data on the prices of products and currencies around the world, including coffee, corn, wheat, rubber products, fuels, among others. The good thing about this platform is that it is open and free, and it also has a result timeout of less than a minute and also a precision of two decimal places in the data.
How Is It Used?
The platform has the practicality of being very easy to use. Just follow the instructions below:
– Enter the website and create an account
– Obtain an API-key, which is a key that is unique for each user.
– Select the currency (CAD) and the commodity (COFFEE) of choice.
Is The Website Secure?
The website uses encryption to secure the user’s connection. This encryption features 256-bit SSL security, similar to a bank grade. With years of experience in the field, many web developers, small businesses, and organizations can attest to the security of this platform as it is in daily use.