As you know, more and more people are buying smartphones, but the problem is they pay significantly less for the phone itself. And you cannot expect everything to be “free.” To make it work properly, you need electricity, repairs and many other things. But in this article, you will see how bitcoin can help (at least) the smartphone market grow. Visit the Auto-trading robot for more information on bitcoin trading.
Bitcoin mining used to be only a computer science area. But now, Bitcoin is becoming more and more popular. Everyone can mine bitcoins. People who sell the graphics cards know that they cannot maintain previous prices because the demand of bitcoin miners rises.
6 Positives of bitcoin that benefits the smartphone market
1. A new profit source
In this world, everyone likes money, and some people earn only from the price difference. So, for example, some people buy bitcoins for $500, and some others sell them for $600, simple as that.
You can see a significant rise in bitcoin searches at particular search engines. And as bitcoin becomes more popular, more and more people will try to mine them, so the price of graphic cards goes up.
2. Bitcoin can help those who cannot buy a new smartphone
This rise in price for graphics cards and low battery issues (which force you to buy at least one charge per person) together can help some people to buy a new smartphone.
3. Many companies are selling bitcoin miners nowadays
Thanks to this fact, even if you cannot afford a new high-end device, you can invest in something that will bring at least a little bit of money.
4. Bitcoin is helping the economy to grow
Every good economy starts with good technology, so bitcoin is a big help for every country.
5. You can trade our bitcoins to other currencies (in case someone like euros instead of dollars)
Not everyone knows that you can trade your bitcoins to euros, rubles, and much more. All countries are afraid of the cryptocurrency market because people can by taxes and use them for money laundering (for example, to buy drugs).
If all countries ban bitcoin, you will see a big crash, but the fact is that every country wants to have its cryptocurrency.
6. More and more companies accept bitcoins
As you already know that Microsoft accepts bitcoins, but you also know that they only allow purchases for games and devices in the Windows store. Steam is in the same boat, but it is growing day by day and accepting new coins in their network (at least it is proof that bitcoins are not going anywhere).
7 Negatives of bitcoin that affects the smartphone market
1. Phones are becoming more expensive each day
I do not have any proof for this claim, but if you see the stats in Google search, everything is going up, but smartphones.
2. It requires a long period to earn bitcoins
You cannot expect someone to buy bitcoin for you because it becomes impossible to send coins to your without knowing your wallet address.
That’s why many people are trying to mine them, but this process is becoming harder and harder (even more if you consider the increasing number of miners).
3. Bitcoin is unstable
As technology goes up, so does the price for this technology. That’s why sometimes bitcoins are worth too much, and sometimes they are not worth anything at all. This can either help or hurt the smartphone industry, which means that no one knows for sure how it can affect.
4. Low prices for smartphones
This is why you cannot expect to see considerable changes in the smartphone market (not like what you see in the PC and GPU market).
But if you look at graphics cards and bitcoin miners alone, you can easily find that their price is rising, so you will still see some changes.
5. Bitcoin and other cryptocurrencies are not easy to track
This is a massive problem for everyone; even if you do not mine bitcoin, you may need a cryptocurrency that is easier to follow (at least at the beginning).
Conclusion:
The relationship between bitcoin and smartphones is a tiny one. Still, everyone can make a massive difference if they try to use cryptocurrency as much as the smartphone market needs it.