Photo Credit: Reuters
OnePlus could be the next big name in the growing market of cryptocurrencies led by Bitcoin as the Chinese company is found to be conducting a survey on blockchain research. The survey is aimed at getting user feedback on cryptocurrencies. The company is asking users whether they have used trading platforms such as Coinbase, Gemini, Robinhood, and Binance. It seems to be a hint at OnePlus venturing into the cryptocurrency platform/ wallet space. Bitcoin and other digital currencies such as Ethereum and Dogecoin have become quite popular among young smartphone users, especially because of the easy access to cryptocurrency trading apps. This might have led OnePlus to think of a native solution for its users to at least store cryptocurrencies — if not invest and trade.
As initially reported by MySmartPrice, the survey titled OnePlus Blockchain Research suggests the company's interest in building a product around cryptocurrency. Although the focus of the survey from its title solely appears to be around understanding the blockchain technology, some of the questions available to its respondents hint at the development of a new cryptocurrency platform that could be a wallet to save digital assets such as Bitcoin.
The survey asks users about whether they invest in cryptocurrencies and which platforms they use for the investment. It also includes a question on understanding problems and inconvenience investors have encountered when investing in or holding a cryptocurrency. Further, the company is seeking information on whether the respondents have used any “software hot wallets” such as the Coinbase Wallet or MetaMask.
Gadgets 360 has reached out to OnePlus for a comment on the matter and will update this space when the company responds.
Cryptocurrency remains a very volatile investment. You would know if you have been reading about or tracking Bitcoin price in India. But nonetheless, companies in tech appear to have plans to step into the cryptocurrency market.
OnePlus rival and one of the leading smartphone vendors Samsung has been supporting Bitcoin and other popular cryptocurrencies on its Galaxy smartphones since the launch of the Galaxy S10 in February 2019. The South Korean company offers its Blockchain Wallet to provide support for the popular coins. It also recently updated the wallet with support for third-party hardware wallets.
A few days back, Apple was also found to have interest in entering the cryptocurrency world. The Cupertino-based company posted an opening for a business development manager with experience in the cryptocurrency industry. It could be to natively start supporting Bitcoin transactions through Apple devices.
That said, traditional investors still don't prefer investing much in cryptocurrencies, owing to their volatility and problems like the ripple effect, which means the drop in the price of one also affects other cryptocurrencies.