• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
Xiaomi

Record Sales for Xiaomi Smartphones Could Benefit Bitcoin Users

Trevor Hill
by Trevor Hill
9 years ago
·
Posted in Bitcoin Technology, Bitcoin, Emerging Markets, FinTech, News, News teaser, Trending
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On July 10, 2016, Chinese smartphone manufacturer, Xiaomi, announced that their cheap line of phones, known as Redmi, had sold over 110 million units in just 3 years. This news could have implications for bitcoin, as cheaper smartphones could directly result in higher trading volume in the country.

Also read: Bullish Trading Ahead? Bitcoin Price Sees New Technical Patterns

The Redmi and Redmi Note, less than half the price of other Xiaomi phones like the $300 USD Mi5, have been central to Xiaomi’s success in China and its handful of new markets – such as India and Indonesia – over the past few years.

What Is the Significance of Cheaper Phones Like Xiaomi?

Cheaper smartphones mean easier access to bitcoin in an emerging market that has also become a rapidly growing market for the cryptocurrency. Also, cheaper smartphones alleviate a price burden that once restricted the ability of the Chinese to obtain bitcoin.

Although China is quickly becoming a developed economy, a large percentage of its population is still very poor, with more than 82 million people living under the poverty line. Therefore, cheaper phones could dramatically increase bitcoin’s trade volume within the country, further contributing to the currency’s network effect.

Increased accessibility to bitcoin could become desirable for a large swath of people in China, as the country’s government continues its campaign to devalue its currency.  

Thus, the monetary crisis that has materialized in the country has created a distinct potential for a mutually beneficial arrangement to arise between Bitcoin and the Chinese people. As more people flock to the cryptocurrency, it will afford them a service by protecting their savings, while the increased trade volume helps to proliferate the currency among more people.

The Benefits of Accepting Bitcoin

Although this relationship has an obvious beneficial effect for bitcoin and those involved in trading the currency, it could create an indirect benefit for another party — the manufacturers of the smartphone devices.

It will especially benefit those smartphone devices that attempt to take advantage of the situation by allowing the market to propagate unhampered. Unimpeded by any attempts by the manXiaomiufacturer to regulate, remove, or otherwise tamper with any bitcoin related applications.

Despite this, the benefits that smartphone manufacturers could receive from embracing Bitcoin is ultimately dependent on the uncertain role that bitcoin will have as a preferred hedge against the Yuan, and how far the Chinese government goes with its currency manipulation.

However, while the long-term benefits that Bitcoin could provide are ultimately uncertain, it seems some benefits are already being felt by smartphone producers in China. As evidence of this, competing, cheaper smartphones have recently increased in popularity at the expense of the iPhone, whose sales in the country have recently declined.

What do you think of the popularity of the Redmi line of phones? How do you think cheaper phones like this could affect Bitcoin? Let us know in the comments below!


Source: Techinasia.com

Images courtesy of Xiaomi.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Trevor Hill

Trevor Hill

Follow

Trevor is a writer at Bitcoinist. He is currently attending his first year at the University of Wisconsin-Fox Valley, with a selected major in Economics. Subscribes to the Austrian school of economics.

Full Profile

Related Posts

vaneck-raises-bitcoin-price-target-180k-new-liquidity-wave-boosts-crypto-market-tw

VanEck上調比特幣目標價至18萬美元 流動性復甦資金推動新一輪加密升浪

3 hours ago
live-news-bitcoin-jpmorgan-crypto-collateral-october-27-2025-tw

比特幣即時新聞:摩根大通開放加密資產抵押動態更新(10月27日)

4 hours ago
Trade

Trade War Talks: US, China Signal Progress In Malaysia; Crypto Traders Take Notice

8 hours ago
Bitcoin

Bitcoin’s Illiquid Supply Drops By 62,000 BTC – What’s Behind The Shift?

14 hours ago
Bitcoin price

Bitcoin Could Make Its Next Major Move This Week — Time To Buy?

16 hours ago
Bitcoin price

Is Bitcoin Price Going To $30,000? Bearish Indicator Suggests Possible 70% Decline

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Snorter Bot...

    3 days ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    5 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    5 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    5 days ago
  • 挖 1 枚比特幣耗電可供 61...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.