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Xiaomi That Recently Overtook Apple In Smartphone Market Now Accepts Bitcoin Payments In Portugal

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The Portuguese branch of Xiaomi has begun accepting Bitcoin and other cryptocurrency payments.


Mi Store Portugal, official Xiaomi retailer, announced on Facebook that customers can now purchase Xiaomi devices using five cryptocurrency options, including BTC, ETH, USDT, Dash, and the Utrust token (UTK).

This new payment option was made possible by a partnership with Utrust. 

Users can now buy smartphones, vacuum cleaners, smart watches, electric scooters and other stuff with Bitcoin, Ethereum and other crypto on Xiaomi Portugal.

 





Pedro Maia, the head of marketing at Mi Store Portugal says that Xiaomi, which recently overtook Apple in the smartphone market, aims to live up its promise of “innovation for all” by moving into crypto.

He said:

“We are a technological, innovative and disruptive brand. That’s why we always want to be one step ahead. We want to give the possibility to all true technology fans to buy their favorite gadgets with what is currently “the most technological money.”

It is not surprising that Xiaomi has picked Portugal for digital asset payments given that Portugal is considered to be the most crypto-friendly nation in Europe because of its tax policy.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

1 COMMENT

  1. This is no longer true, there’s news in Portugal that state that the Chinese tech company forced them to give up payments with cryptocurrencies.

    source: https://eco.sapo.pt/2021/08/10/chineses-obrigam-loja-da-xiaomi-em-portugal-a-desistir-de-pagamentos-com-criptomoedas/

    (…) Xiaomi’s official store in Portugal announced last week that it would move to accept payments with cryptocurrencies. A few days later, she was forced by the Chinese brand to back downon the decision , at a time when beijing is tightening its grip on several technology companies, but also on virtual currencies such as bitcoin.

    In an unusual statement, Mi Store Portugal, a partner that operates Xiaomi’s mobile phone and other electronics stores, apologizes to customers for the retreat and admits that the order came from above. More specifically the international brand, Xiaomi Global, a company of the Xiaomi group, which is based in Beijing, China.

    “On behalf of Mi Store Portugal, we inform you that we will withdraw with the offer of the payment option in cryptocurrencies. We apologize for any inconvenience caused”, begins by informing the “official statement” of the xiaomi portugal store, brand that is led in the country by Tiago Floressince the end of April , former sales director of the consumer area of another Chinese company in Portugal, Huawei.

    The statement from Xiaomi’s store in Portugal goes even further: “This offer was made suddenly without the prior approval of Xiaomi Global and did not go through the appropriate channels and regulatory processes”, indicates the same note, released on Friday morning. ECO contacted Xiaomi Portugal, but the company declined to comment.

    Communiqué from Mi Store Portugal, the official xiaomi Portugal store, published on Facebook.
    China declares war on cryptocurrencies… and technology companies
    In the statement, Mi Store Portugal does not detail that “regulatory processes” would have been “appropriate” for such a decision.

    Still, the company’s retreat in Portugal cannot fail to be seen in light of the growing pressure of the Chinese regime against cryptocurrencies and technology companies. This case represents precisely an interception between the two.

    Bitcoin at May highs already “dating” the $50,000

    Read More

    This year, in the face of a significant increase in cryptocurrency prices, such as bitcoin, the People’s Bank of China banned banking institutions and payment companies from engaging in cryptocurrency-related transactions. Recently, China has also declared war on bitcoin miners, who manage many of the nodes that allow the network to operate in a decentralized manner.

    In addition, authorities have taken action against several Chinese technology companies, including Alibaba group, tycoon Jack Ma, but also Tencent (owner of WeChat), Didi (commonly known as “Chinese Uber”) and many others. They have responded in the iron hand of xi jinping’s regime, agreeing to carry out profound changes to their business models (…)

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