This week, a new retailer in Portugal became the first in Europe to start accepting Bitcoin payments for its products. The company, called a Softwares, sells IT and electronics goods like laptop computers, tablets and mobile phones.
The increasing popularity of cryptocurrencies like Bitcoin has caused certain stores to accept Bitcoin as a form of payment. In the past few months, electronics retailers such as RadioShack and Bic Camera have begun accepting Bitcoin as a means of payment.
From a cryptocurrency point of view, Portugal is not very well-known as a market, but there is a strong community of Bitcoin enthusiasts in the country. Today, the largest Bitcoin retailer, in fact, is located in Portugal. The company, called eBatai, has been selling Bitcoin in Lisbon since last year through their web store. Now, the retailer has expanded to the entire country, accepting payments in Bitcoin.
Xiaomi, the Chinese electronics firm, is the latest worldwide corporation to enter the cryptocurrency market, with its official Portuguese store now accepting Bitcoin (BTC) payments.
The official Xiaomi store, Mi Store Portugal, stated on Facebook on Wednesday that consumers may now buy gadgets using five cryptocurrencies: Bitcoin (BTC), Ether (ETH), Tether (USDT), Dash (DASH), and the Utrust (UTK) token.
Customers may now choose to pay using cryptocurrency at checkout, according to the official Mi Store Portugal website.
A collaboration with Utrust, a European blockchain technology payment company, has allowed the new payment option. “Xiaomi is the world’s second-largest phone maker, and their local office is now taking the Money of Tomorrow,” according to Utrust’s official Twitter account.
Xiaomi overtook global smartphone giant Apple as the world’s second-largest mobile phone maker in the second quarter of 2021, according to statistics from global industry research company Counterpoint.
The official Xiaomi store in Portugal, Mi Store Portugal, now accepts #crypto payments! Xiaomi is the world’s second-largest smartphone maker, and its local office is now accepting the Money of Tomorrow.
Shop now: https://t.co/0WvYPgcpNa pic.twitter.com/LYd66aiX0A for phones, wearables, and more.
August 4, 2021 — Utrust (@UTRUST)
According to the company’s website, Mi Store Portugal is the only official retailer of Xiaomi’s approved goods in Portugal, operating under European law. The company presently operates six physical locations throughout the United States and is in the process of expanding.
Related: A new research shows a strong desire for cryptocurrency payments
According to reports, Pedro Maia, marketing director of Mi Store Portugal, stated that the company’s decision to accept cryptocurrency payments is in line with Xiaomi’s commitment to innovation. “We are a technologically advanced, forward-thinking, and revolutionary brand. That is why we strive to be one step ahead of the competition. We aim to offer all genuine technology enthusiasts the opportunity to purchase their favorite devices with the current’most technical money.’”
Portugal has been gradually developing as a cryptocurrency-friendly nation in recent years, with the local government levying no taxes on retail crypto trading, as previously reported. A local energy trading company began taking Bitcoin as payment for power bills earlier this year.
A Xiaomi retail store in Portugal has now started accepting payments in Bitcoin, the most popular form of cryptocurrency. The shop is located in Funchal, Madeira, and it is the first official retail store to use the digital currency as a form of payment.. Read more about portugal crypto exchange and let us know what you think.
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